Best Mortgage Lead Generation Companies – Social Media Marketing for Mortgage Lenders Although social media marketing seems to be constantly changing, there are strategies that remain tried and true.
Social media marketing best practices are changing as quickly as the social media landscape itself. With studies showing that 78 percent of salespeople who use mortgage social media marketing outperform their peers, there’s good reason for lenders to get involved. Some tried and true strategies remain consistent, and when you implement them, building your social media brand can be easier than you expect.
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It’s not the first thing you want to talk about, but compliance needs to be addressed, so let’s get it out of the way. If your posts don’t meet the industry’s rigid requirements, they can result in devastating penalties.
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In addition to following the rules yourself, be aware that commenters on your posts may make inconsistent statements. You may want to consider turning off comments entirely when this option exists. Otherwise, carefully monitor the comments on your page and delete the ones that may be misleading. To avoid upsetting commenters, let your followers know that you will hide comments that may violate mortgage advertising laws.
Also, keep in mind that advertising on social media sites will look different for mortgages than for other consumer products. For example, Facebook requires mortgage lenders to create “Custom Audience Segments” that can be based on how targets behave online, but not on potentially discriminatory factors such as zip code or age.
Using a CRM built for the mortgage industry to create and schedule social media posts can help with compliance. For example, Surefire CRM allows businesses to request approval of messages and also tracks posts for auditing purposes.
See how Surefire effortlessly develops content tailored to your brand. Sign up for a free lookbook today.
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You have what it takes to be a top mortgage lender, and Surefire has what it takes to get you there. Find out how!
If you want your social media followers to pause scrolling to look at your posts, then you probably know from your own experience that you will need to stand out from the crowd.
Here are some guidelines to keep in mind if you’re generating your own content or managing messages from your mortgage CRM.
Take care of your tone. In general, social media is a place to be casual, and you’ll want your writing to be casual as well. You’ll also want to stay professional because everything you post is a reflection of your business. If you use humor, keep it G-rated.
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Reach out to your audience. See who’s following you on different platforms. Facebook may have started for students, but it has long been popular with older generations as well. In general, newer platforms are more likely to have younger participants.
You may be able to determine who your audience is by looking at your friend and follower lists. If not, pay attention to what types of posts are gaining traction on different platforms. Do first-time buyer posts resonate more on Instagram, while refi posts get more likes and shares on Facebook?
Once you’ve determined a pattern, you can start customizing your posts accordingly. However, you won’t want to limit certain topics exclusively to one platform. Maybe most of your refi leads are on Facebook, but you probably have a few first-time homebuyers there too. Plus, social media is all about sharing – even if your content isn’t relevant to some friends or followers, you hope they’ll share it with friends who might be interested.
Stay relevant. Your business accounts should focus on your business, industry topics, and the community you serve. Talk about your special products, the charity you support and your awesome team (with their permission). Leave most, if not all, personal posts for your personal pages.
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One way to get personal without oversharing is to talk about your involvement in the community. Tell people you’ll be rooting for your hometown football team or planning to visit a community park because the weather has turned nice. These themes give your followers a glimpse into your personal life while showing your support for the community—a feature valued by many potential borrowers.
Provide timely industry news. Have conventional loan limits increased recently? FHFA Report Are Home Prices Rising Faster Than Ever? Are rates at historic lows?
Help your friends and family stay on top of industry news, then go a step further to provide context for national headlines.
What do conventional loan limit increases mean for your community, especially if you’re in an expensive area? How does this help your average customer?
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If home prices are rising nationally, does that mean they are rising in your state or region? How much have prices gone up and how much equity can that add for the average homeowner? How will capital growth help your readers today, even if they don’t plan to sell anytime soon?
Rate the news? We’ve been hearing about low fares for a while now. Discuss how – specifically – low rates benefit your customers. Helped someone save $500 a month with refis? How much will they save over the life of their loan? Talk about it! (Avoid tagging customers in these cases, and definitely don’t tag them without permission!)
Timely news is important in your social media marketing, and local context and/or success stories will make the news even more powerful. A strong mortgage CRM will provide timely messaging and visuals. Take them, then take it a step further and add a sentence or two to locate the information.
Solve a problem. The pandemic provides a good illustration of opportunities to provide solutions to problems your followers may be facing. When the CARES Act was passed, many loan officers shared helpful information, from general updates on foreclosures to student loan options to the credit score impact of various actions.
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Even in normal times, people have problems to deal with, though those problems may not be as universal as a pandemic. Do you see families posting photos of themselves touring college campuses with their high school students? A post about using home equity to pay tuition fees may be in order. Are you or your friends getting ready to take on some home improvements this summer? Maybe your followers are too. This is a good time to share information about the FHA 203K.
Give your readers something to do. People love to play games, take quizzes and answer silly questions on social media. You don’t want to share games that could compromise the safety of participants. Instead, consider coming up with interesting interactions.
For example, an easy way to engage followers is to ask questions related to home ownership. How long did you live in the first house you owned? What is your favorite thing to do in your neighborhood? What is your favorite or least favorite housekeeping job? Whether people answer your question online or not, they will answer mentally, helping them associate your name with the topics of property and finance.
Loan officers using a CRM for mortgage marketing likely have access to mortgage calculators, interactive games, and tools that can be used to drive engagement on your social media channels. Reliable CRM has a number of neighborhood reports that allow readers to enter any street address and learn more about their area, from the typical commute to demographics to recent home sales. Loan officers can also share show-style educational games, simple calculators, video puzzles and more.
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Include a call to action. You probably don’t want to end every post by saying, “Call me for a quote on your next home loan or refinance.” A call to action can be as simple as inviting your followers to like or comment on your post, or encouraging them to use the cool calculator you posted. But at least sometimes, you’ll want to remind them why you’re there — to make life better through home ownership and financing.
Posting for low rates? “We’ve helped many customers save money, even when they thought it might not be possible. Let me know if you want to see how much you can save.”
Post a prequalification calculator? “Even if you’re not buying a home right now, it’s fun to play around with the simple calculator and see what you can afford at this stage and with today’s prices. Try!”
Whichever platform you choose to use, content is key. If you want your social media followers to pause scrolling to look at your posts, you need to consistently deliver engaging content that complies with industry regulations.
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While managing your social media presence can be overwhelming, there are tricks to make it easier. It is the largest and most comprehensive CRM platform built specifically for the mortgage industry. Your CRM can help with social media marketing in three main ways: compliance, scheduling, and resources.
Conformity. A powerful mortgage CRM will give your company the tools to review and approve content implemented throughout the system. The Company has control over the social media accounts that are connected to the CRM and may refuse or make changes to posts that do not meet industry guidelines or are off-brand.
When auditors retire, a strong mortgage CRM will also be equipped with self-service
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