Why Should Mortgage Brokers Care About Online Presence?  

Why Should Mortgage Brokers Care Online Presence_

When you think of the internet, what comes to mind? Access to worldwide information? Connection to friends, family, clients, and most importantly - potential clients? Homebuyers looking for new opportunities or your competition keeping up to date on the housing market? Those are all valid first thoughts because that's how we use the internet on a daily basis. 

Mortgage Marketing and the Internet

Mortgage Marketing and the Internet 

The creation of the internet means people can share information and communicate from anywhere in the world as long as they have a connection. This has changed the way the world behaves. There are more than 4.5 billion active internet users today. With that many daily users, you can see why digital marketing has become essential to Mortgage Brokers and brokerages. The internet has shifted consumer habits when it comes to conducting research, shopping, connecting, and staying informed. To keep up, marketing had to change too. The basic foundation of marketing has always been to connect with your audience in the right place, at the right time; which means you need to meet your audience where they are spending their time. Today, that is online. 

Digital marketing has become the “norm”. We expect ads in front of YouTube videos or to appear in our Instagram feed, we know they are coming. We live in a society where we don’t necessarily see ads as an advertising measure, but as another form of media, we are exposed to. Instead of looking for new home listings in the local paper, you head to Google or MLS. Instead of calling the number we see at a bus stop, we prefer to click a link to a website and use the easily-accessible contact information.  The million-dollar question remains; how does a Mortgage Brokerage go about leveraging the digital age to grow their client base, increase business and in turn, sell more homes? Let’s start with the Home-Buyer journey.

The Home Buyer Journey

The Home Buyer Journey. What Does it Include?

The internet has been around for more than 40 years, but the Client journey has existed since the Stone Age, so how has the internet impacted that journey? Let’s say, someone, who purchased their home from your Mortgage Brokerage tells a potential Home-Buyer friend of theirs about their experience. Potential Home-Buyer trusts your client as a friend and becomes interested in your service, so potential Home-Buyer begins to further explore and educate themselves on what you have to offer. Potential Home-Buyer is on the “client journey”. Here at Real Local Partners, we want to help you and your business get to know this journey and process. Let's start by breaking it down into 5 stages. 

Online Presence and Reputation

1. Interest & Awareness

You must create awareness about your Mortgage Brokerage, and what you offer. How do you do this:

  • Social/search advertising
  • Email/text marketing
  • Loyalty programs
  • YouTube / Video ads
Local Online Findability

2. Findability

After becoming aware of your Mortgage Brokerage, through your strategic advertising, customers start to discover more with search.
There are more places than ever where people are searching for businesses. It’s not just Google either. There are:

  • Organic Search
  • PayPerClick
  • Maps
  • Directories and Listings (Google My Business)
  • Apps
  • “Near me”
Online Reputation Management

3. Reputation

Once a consumer finds your Mortgage Brokerage, they will look at your ratings, reviews, and recommendations to help them compare choices. In fact, it’s often the first thing showcased in Google search results. You can manage your reputation with:

  • Blogs & Articles
  • Reviews
  • Social Media
  • Friends and family
The Home Buyer Journey

4. Conversion

The next step in the consumer’s journey is finally connecting with your Mortgage Brokerage. Consumers are looking for quick, easy ways to make an appointment or view potential homes. You can accomplish this through:

  • Website
  • App
  • Online booking
  • Phone Call
Online Review Management

5. Advocacy

It’s important to do everything you can to encourage happy Home-Buyers to talk in a positive manner about your Mortgage Brokerage - to potentially return again, and tell potential Home-Buyers about you! After all, this is ultimately what brought them to you in the first place. Reaching out to them for a review helps you to stay in touch and engage with your existing base of clients, while at the same time receiving positive reviews and sharing them to generate potential Home-Buyers. You can accomplish this by using:

  • Social Posting
  • Reviews
  • Blog
  • Word of mouth
Mortgage Broker Online Presence

It’s important to show up and win your potential Home-Buyer over at every stage of the purchasing journey, otherwise, you could be helping drive them directly to your competitors. It is clear and simple when the client is happy and satisfied they are more likely to return. Make their experience with you and your Mortgage Brokerage a memorable one. When it stands out to them they are more likely to pass on the positive thoughts they have about your services.

Let’s say the potential Home-Buyer is making their way along the journey. They become interested in using a Mortgage Brokerage after seeing a Facebook ad, then looked up that Mortgage Brokerage and found them; but, there were multiple negative Google reviews that hadn’t been responded to. Now, they likely won’t trust this Mortgage Brokerage. What does this consumer do? It’s very likely they’ll go directly to the next stage (the buying stage), but with a competitor who has more favorable reviews, or a better reputation. This is why it’s important to win at every stage of the client journey.

Did you learn anything? Did you enjoy reading about the client journey? Make sure to check back in a couple of weeks for more guidance on your digital marketing quest.

About the author Aaron LeBLanc

Aaron is the President & Founder of Mortgage Reputation. He is a passionate and driven entrepreneur, with experience in the Mortgage Industry and Digital Marketing Technology.

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