97%
of
consumers
search
for
local
businesses
online,
and
78%
of
marketers
report
that
digital
marketing
significantly
increases
business
revenue.
If
you’re
not
leveraging
digital
marketing
in
today’s
mortgage
landscape,
you’re
missing
out
on
a
significant
opportunity. 

In
our
fast-paced,

technology-driven
world,
digital
marketing
has
become
an
essential
competitive
advantage
for
mortgage
loan
officers
(MLOs)
using
the
right
tools.
With
the
industry
facing
high
interest
rates
and
inventory
shortages,
reaching
borrowers
first
and
maintaining
visibility
with
past
clients
and
real
estate
partners
is
imperative​.

The
current
landscape

According
to
HousingWire,
the
real
estate
market
is
grappling
with
high
interest
rates
and
limited
inventory,
creating
a
challenging
environment
for
mortgage
lenders
and
loan
officers.
The
current
state
of
the
market
underscores
the
importance
of
staying
ahead
of
the
competition
through
effective
digital
marketing
strategies.
By
leveraging
digital
channels,
MLOs
can
effectively
target
and
engage
potential
clients,
ensuring
they
remain
visible
and
relevant​​.

Why
it’s
complicated 

The
mortgage
industry
has
been
traditionally
slow
to
adopt
new
technologies.
Many
MLOs
still
rely
on
outdated
marketing
methods
that
are
less
effective
and
more
costly.
Additionally,
the
rapid
pace
of
technological
advancements
means
that
staying
up-to-date
with
the
latest
digital
marketing
trends,
tools,
and
associated
regulations
can
be
daunting
for
those
not
well-versed
in
the
field.
HousingWire
highlights
that
embracing
digital
transformation
is
no
longer
optional
but
essential
for
survival
and
growth
in
the
current
market​.

Key
questions
to
consider

1. 
   What
   is
   digital
   marketing,
   and
   how
   can
   it
   benefit
   mortgage
   companies
   and
   LOs?
2. 
   How
   can
   mortgage
   companies
   effectively
   utilize
   paid
   and
   non-paid
   digital
   channels?
3. 
   What
   are
   the
   cost
   benefits
   of
   digital
   marketing
   compared
   to
   traditional
   methods?
4. 
   How
   can
   digital
   marketing
   improve
   referral
   generation
   from
   real
   estate
   agents?
5. 
   What
   are
   the
   advantages
   of
   automation
   and
   compliance
   in
   digital
   marketing?

Answers
to
these
questions

1.
What
is
digital
marketing?

Digital
marketing
includes
all
marketing
efforts
that
leverage
digital
channels
like
websites,
social
media,
email,
other
channels
to
connect
with
current
and
prospective
customers.
The
goal
is
to
meet
customers
where
they
spend
most
of
their
time:
online.
Digital
marketing
enables
highly
targeted,
measurable,
and
cost-effective
campaigns,
providing
a
more
personalized
and
engaging
customer
experience
while
driving
revenue​.

2.
How
can
mortgage
companies
utilize
digital
channels?

Digital
marketing
occurs
across
various
channels,
categorized
into
paid
and
non-paid
efforts:

Paid
digital
marketing:

• 
  PPC/Paid
  search:
  Mortgage
  companies
  can
  place
  ads
  on
  search
  engines
  like
  Google,
  targeting
  keywords
  relevant
  to
  their
  services.
  Each
  time
  a
  user
  clicks
  on
  these
  ads,
  the
  company
  pays,
  driving
  high-intent
  traffic
  to
  their
  website
  and
  increasing
  the
  chances
  of
  lead
  conversion.
  This
  method
  ensures
  immediate
  visibility
  for
  competitive
  keywords,
  attracting
  potential
  clients
  actively
  searching
  for
  mortgage
  solutions.
• 
  Paid
  social:
  By
  promoting
  posts
  or
  running
  ads
  on
  platforms
  such
  as
  Facebook,
  Instagram,
  and
  LinkedIn,
  mortgage
  companies
  can
  reach
  a
  wider
  audience.
  These
  ads
  can
  be
  tailored
  to
  specific
  demographics,
  ensuring
  that
  the
  content
  resonates
  with
  potential
  homebuyers
  and
  refinancers.
  This
  targeted
  approach
  maximizes
  ad
  spend
  efficiency,
  enhancing
  engagement
  and
  driving
  more
  qualified
  leads
  to
  the
  company’s
  offerings.

Both
Paid
Search
and
Paid
Social
offer
the
ability
to
segment
your
audience
based
on
numerous
factors.
This
includes
demographics
such
as
age,
gender,
and
location,
as
well
as
more
specific
criteria
like
interests,
online
behaviors,
and
purchasing
history.
By
utilizing
these
segmentation
capabilities,
mortgage
companies
can
create
highly
targeted
campaigns
that
reach
the
most
relevant
audience,
ensuring
that
their
advertising
efforts
are
efficient
and
effective.
This
precision
targeting
helps
in
maximizing
ROI
by
delivering
personalized
messages
to
those
most
likely
to
convert,
thereby
enhancing
lead
quality
and
driving
higher
engagement
rates.

Non-paid
digital
marketing:

• 
  Organic
  search:
  Optimizing
  website
  content
  with
  relevant
  keywords
  and
  quality
  backlinks
  helps
  mortgage
  companies
  improve
  their
  rankings
  on
  search
  engine
  results
  pages
  (SERPs).
  Higher
  organic
  rankings
  increase
  visibility
  and
  attract
  more
  traffic
  without
  the
  ongoing
  costs
  associated
  with
  paid
  advertising.
  This
  sustainable
  strategy
  builds
  long-term
  online
  presence,
  making
  it
  easier
  for
  potential
  clients
  to
  find
  the
  company
  organically.
  However,
  this
  strategy
  takes
  quite
  a
  long
  time
  to
  generate
  meaningful
  results.
• 
  Web
  content:
  Maintaining
  a
  blog,
  updating
  website
  content,
  and
  participating
  in
  online
  reviews
  and
  affiliate
  marketing
  helps
  build
  authority
  and
  trust.
  Engaging
  and
  informative
  content
  can
  attract
  potential
  clients,
  providing
  valuable
  information
  and
  establishing
  the
  company
  as
  a
  thought
  leader
  in
  the
  mortgage
  industry.
  Consistently
  producing
  high-quality
  content
  also
  supports
  optimization
  efforts,
  driving
  organic
  traffic
  and
  enhancing
  brand
  credibility.
• 
  Email
  marketing:
  Sending
  personalized
  and
  targeted
  emails
  to
  potential
  and
  existing
  customers
  is
  an
  effective
  way
  for
  mortgage
  companies
  to
  nurture
  leads
  and
  maintain
  relationships.
  Regular
  updates,
  newsletters,
  and
  promotional
  offers
  can
  keep
  your
  audience
  engaged
  and
  encourage
  them
  to
  choose
  your
  company
  for
  their
  mortgage
  needs.
  Email
  marketing
  also
  allows
  for
  segmentation
  and
  personalization,
  increasing
  the
  relevance
  and
  impact
  of
  each
  message.
• 
  Social
  media:
  Creating
  and
  sharing
  relevant
  content
  on
  platforms
  like
  Facebook,
  Twitter,
  and
  Instagram
  helps
  mortgage
  companies
  engage
  with
  their
  audience
  organically.
  Regular
  posts,
  community
  interactions,
  and
  leveraging
  user-generated
  content
  can
  build
  a
  loyal
  following
  and
  enhance
  brand
  visibility
  without
  direct
  advertising
  costs.
  Social
  media
  also
  provides
  a
  platform
  for
  real-time
  communication,
  allowing
  companies
  to
  address
  inquiries
  and
  build
  stronger
  customer
  relationships.

When
it
comes
to
performance
differences
between
Paid
Digital
and
Non-paid
Digital,

leads
generated
from
Paid
Digital
convert
at
nearly
3.4X
compared
to
those
generated
from
Non-Paid
Digital
and
lead
to
at
least
an
80%
increase
in
brand
awareness
according
to
data
from
Unbounce.

3.
Cost
benefits
of
digital
marketing

Traditional
lead
generation
methods
often
result
in
high
costs
per
lead,
burdening
mortgage
companies
with
significant
expenses
for
acquiring
new
clients.
Digital
marketing
offers
a
cost-effective
solution
by
enabling
precise
targeting
of
specific
demographics
and
optimizing
ad
spend
to
ensure
maximum
impact.
This
approach
not
only
reduces
overall
costs
but
also
increases
the
efficiency
of
marketing
campaigns
by
reaching
potential
clients
who
are
most
likely
to
convert.

Research
by
Evocalize
shows
that
self-generated
leads
are
at
least
300%
less
expensive
than
purchased
leads,
providing
substantial
savings
for
mortgage
companies.
By
generating
their
own
leads,
companies
can
maintain
greater
control
over
their
brand
and
messaging,
ensuring
consistency
and
compliance
with
industry
regulations.
This
strategic
shift
towards
digital
marketing
allows
businesses
to
allocate
their
resources
more
effectively,
ultimately
driving
better
financial
outcomes.

4.
Improving
referral
generation

Capturing
referral
business
from
real
estate
agents
is
a
common
challenge
for
mortgage
companies,
often
requiring
significant
time
and
effort
to
build
and
maintain
relationships.
Digital
marketing
bridges
this
gap
by
facilitating
better
integration
with
existing
tools
and
creating
co-marketing
opportunities
with
real
estate
professionals.
By
leveraging
digital
channels,
mortgage
companies
can
enhance
their
collaboration
with
agents,
resulting
in
a
more
streamlined
and
efficient
referral
process.

This
synergy
not
only
helps
generate
high-quality
referrals
but
also
strengthens
partnerships
with
real
estate
agents,
fostering
long-term
relationships
that
benefit
both
parties.
Through
joint
digital
marketing
efforts,
such
as
shared
content
and
co-branded
campaigns,
mortgage
companies
can
expand
their
reach
and
tap
into
the
agent’s
network,
thereby
increasing
the
potential
for
new
business
and
reinforcing
their
market
presence.

5.
Advantages
of
automation
and
compliance

Digital
marketing
is
inherently
more
efficient
than
traditional
methods,
thanks
to
the
power
of
automation
tools
like
Evocalize
that
manage
campaigns,
track
performance,
and
adjust
strategies
in
real-time.
These
tools
ensure
optimal
results
with
minimal
manual
intervention,
allowing
mortgage
companies
to
focus
on
strategic
initiatives
rather
than
day-to-day
campaign
management.
Automation
also
facilitates
precise
targeting
and
personalization,
enhancing
the
effectiveness
of
marketing
efforts.

Additionally,
platforms
with
built-in
compliance
features
safeguard
campaigns
against
potential
legal
issues,
a
critical
aspect
highlighted
by
HousingWire.
Compliance
with
industry
regulations,
such
as
the
recent
FCC
lead
generation
rules,
is
essential
for
avoiding
costly
penalties
and
maintaining
consumer
trust.
By
utilizing
digital
marketing
platforms
that
incorporate
compliance
mechanisms,
mortgage
companies
can
ensure
their
campaigns
adhere
to
legal
standards,
mitigating
risks
and
promoting
a
trustworthy
brand
image.

Digital
marketing
doesn’t
have
to
be
hard,
even
if
you
aren’t
a
marketing
pro

Digital
marketing
might
seem
daunting,
especially
if
you
don’t
consider
yourself
a
marketing
expert.
However,
with
the
right
tools,
it
can
be
straightforward
and
highly
effective.
Here
are
key
features
to
look
for
in
digital
marketing
tools
that
make
the
process
easier
and
more
impactful:

• 
  Powerful,
  flexible
  automation:
  Choose
  tools
  that
  offer
  automation
  capabilities
  allowing
  you
  to
  harness
  your
  business
  data
  effectively.
  Automation
  can
  streamline
  your
  marketing
  efforts,
  making
  them
  more
  efficient
  and
  less
  time-consuming.

• 
  Built-in
  regulatory
  compliance:
  Ensuring
  compliance
  with
  industry
  regulations
  is
  critical.
  Look
  for
  platforms
  that
  have
  built-in
  compliance
  features
  to
  safeguard
  your
  campaigns
  against
  potential
  legal
  issues.

• 
  Effective
  co-marketing
  with
  real
  estate
  agents:
  The
  ability
  to
  seamlessly
  co-market
  with
  real
  estate
  agents
  can
  significantly
  enhance
  your
  business.
  Choose
  tools
  that
  facilitate
  this
  collaboration
  effortlessly.

• 
  Hyperlocal
  marketing:
  Staying
  relevant
  in
  your
  borrower’s
  community
  is
  crucial.
  Opt
  for
  solutions
  that
  allow
  you
  to
  localize
  your
  marketing
  efforts,
  ensuring
  your
  campaigns
  are
  tailored
  to
  resonate
  with
  local
  audiences.

• 
  Flexible
  budgets,
  campaign
  types,
  and
  durations:
  Flexibility
  is
  key
  in
  digital
  marketing.
  Select
  platforms
  that
  offer
  a
  variety
  of
  budget
  options,
  campaign
  types,
  and
  durations,
  enabling
  you
  to
  adapt
  quickly
  to
  changing
  market
  conditions
  and
  business
  needs.

Investing
in
digital
marketing
doesn’t
have
to
be
complicated
or
intimidating.
By
leveraging
tools
like
Evocalize
that
simplify
and
enhance
your
marketing
efforts,
mortgage
companies
and
LOs
can
stay
competitive,
generate
leads,
and
grow
their
business
efficiently.

Conclusion

The
mortgage
industry’s
landscape
is
increasingly
digital,
and
the
need
for
effective
digital
marketing
has
never
been
greater.
Brokerages
and
loan
officers
must
embrace
these
strategies
to
reach
a
broader
audience,
reduce
costs,
enhance
customer
experiences,
and
stay
competitive.
Investing
in
digital
marketing
is
not
just
about
keeping
up
with
the
times;
it’s
about
securing
a
prosperous
future
in
the
mortgage
industry,
even
through
tough
markets.
Embrace
digital
marketing
now
to
ensure
sustained
growth
and
success
well
into
the
future​​.

Sources:

Justin
Ulrich
is
the
VP
of
Marketing
at
Evocalize.

This
column
does
not
necessarily
reflect
the
opinion
of
HousingWire’s
editorial
department
and
its
owners.

To
contact
the
editor
responsible
for
this
piece:



[email protected]

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