Mortgage Marketing During a Pandemic
With mortgage demand spiking 33% from a year ago from homebuyers, your clients need your expertise more than ever. This is the best time to initiate a mortgage lead generation campaign not just for purchase business but also for existing homeowners looking to refinance. Some many want to get cash out to remodel to add an extra room for a home office.
Loan Originators who are currently putting more money into their marketing efforts are seeing an increase in purchase and refinance applications and are creating life long relationships with their new and existing customers. They will remember you after you helped them save money with today’s record low interest rates, restructuring their debt and providing cash to them make it through these unique times.
Response and conversion rates are very high right now. Demand from homeowners and prospective buyers is higher than ever. It’s been reported that mailboxes are not as full because many companies unrelated to lending have halted mailing which suggests more visibility to the letters sent from mortgage companies.
Furthermore, with more people than ever before working from home, they should extra time to give more attention to the mail. So, now is the one of the best times to market to your prospects without having to compete with other mail pieces.
If you plan to be in business in the months to come, it is essential you continue to market through these unstable period or your pipeline will decrease quite fast. You need to not only generate new business but also ask for referrals during the process as long as you’re doing a great job with your current client.
We’re in month of August. Do you want loans this holiday season? The marketing you begin today will generate leads 2 to 6 weeks from now it will usually take an additional 4 to 6 weeks to close those loans. What you do today affects your business 6 to 12 weeks from now. That’s October, November and December. If you want a non-productive fall season and prefer to make less money, hold back on marketing. If that is the case, maybe it’s time to rethink your career.
For those who do want to make money, blogging is one of the best ways to generate mortgage leads. When a person searches online, high-quality content that is optimized on your blog can be shown at the top of Google’s search engine results. If a home buyer searches for information about getting pre-qualified to purchase a home in Phoenix, content from your blog that ranks high in Google could become a new mortgage lead.
A loan originator with a pretty good closing ratio should be able to convert leads from a mortgage blog into generating steady profits. Keep in mind, most blogs don’t ever make it to the first page of Google.
An engaging blog tends to increase opportunities for closings as well as referrals. Additionally, a helpful mortgage blog is the ideal digital marketing platform to build authority and trust with borrowers. Your blog content should address common questions as well as unique situations that borrowers may have along with a lead capture form to get pre-approved.
Blogs that are viewed as a valuable resource by prospective home buyers and homeowners might be shared with other borrowers or even bookmarked for visits in the future.