According to 2023 data from the Consumer Financial Protection Bureau, there are roughly 4,460 financial institutions registered as mortgage lenders in the US. The majority of these lenders look similar, making it hard for one to stand out. Also, many prospective homeowners do not know what to look for in a mortgage lender, as they lack an understanding of the lending procedure and the products and features that could benefit them. As a mortgage lender, below are a few ways to generate and buy mortgage leads and potentially convert them into sales.
Content Marketing
Most mortgage lenders use content marketing to promote their services online. It’s best to create free, valuable content for your potential customers to help you maximize your content marketing. You may use various forms of content, from blog articles to podcasts or YouTube. Don't hesitate to experiment with other forms, too. Meanwhile, Smart Asset research says that 13% of Millennials head to TikTok and 22% to YouTube when seeking financial advice.
Have A Website
In 2024, having a website alone isn't enough to get leads for mortgage loans. Several studies reveal that many users will avoid bad or poorly designed websites. On the flip side, a professionally designed website can boost your credibility, making it a powerful marketing tool. Throw in some good-quality content, and you’ll be the go-to for mortgage loans. The good news is that several web builders make it easy to build a decent website without breaking the bank.
Google My Business
Local SEO is essential for marketing to people in the neck of your woods. Sure, your content can boost your local SEO; however, it is fundamentally different from content marketing. Google My Business has been shown to be the best approach for local SEO. You only need to register as a mortgage lender with the search engine giant, using details such as:
- contact numbers
- address
- products and features
- business images
- working hours.
Google Maps will automatically list you as a mortgage lender and show you in search results when somebody searches for mortgage lenders in your area. Whether you are a mortgage lender or a solar company seeking solar leads, you can improve your search rankings by requesting that present and previous clients leave feedback and share your page on their timelines.
Social Media Marketing
Social media is a fantastic place to connect with existing, new, and potential customers. Several social media platforms, including Facebook, make it easy to create, share, and promote your business. These platforms also make it simpler to showcase your trustworthiness as a mortgage lender. Having a social media page with good reviews and a decent following can make you look legitimate and appealing to prospective homeowners.
What To Look For In Your Mortgage Lead Provider
Conducting thorough research is key before doing business with any mortgage lead provider. If you’re thinking about which company to work with for your lead generation, below are a few factors to consider:
- Budget
- Leads exclusivity
- Referrals to learn more about companies they’ve worked with.
- Quality lead source
- Great customer service
- Filtering option for higher conversion rates
- Reasonable return policy
Conclusion
Applying the above tips will help you generate leads for your mortgage lending business and convert them into sales while helping your company stand out among the competition.