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Picking the Winners

The Most Effective and Tested Digital Tactics for Loan Officers

Alex Caragiannides
Insider
Alex Caragiannides
Marketing in multiple forms
Share your message with more people, through more channels

The power of digital marketing is undeniable. Within minutes of placing an ad, we have allowed our business to immediately interact with potential clients and increase awareness of our brand. Using a digital world right at our fingertips quickly gives us the ability to boost profits. Why is it then that we, as loan officers, continue this circle of relying on real estate agents to bring us clients instead of reaching directly to them ourselves? 

I know all too well how easy it is to be swept up in tradition. When I first became a loan officer, I listened to those who had come before me. After all, I had started out as a telemarketer who had to work his way to the position of loan officer. It has long been emphasized if a loan officer is not meeting their quota, then sales training must be the problem. 

My “ah-ha” moment came when I realized that is not necessarily true. Marketing is the more likely issue. I discovered I could target consumers directly using platforms like Google and Facebook to reach twice the leads as I was bringing in and was astonished at just how well the tactic worked. I was suddenly seeing 20 loans a month, up from just around three before I implemented my new strategy. 

As you begin planning your marketing campaign for this quarter one, follow these tested digital marketing tactics I have designed for loan officers to draw in clients and grow your personal pipeline. 

Define Your Target Audience

The first step to successful marketing is knowing your target audience. If you do not know who you are speaking to, how will you know what to say? First, you need to make a choice between new homebuyers or refinance clients. A new buyer will have a different message than an investor. A new homebuyer might be willing to pay more for someone for helpful advice, while a refinance client is going to be shopping around for quotes.  

Your message needs to be in line with the type of client you are trying to reach. After choosing, you can take it a step further and carve out a specific niche. For example, when I was a loan officer working for my mentor, Samuel Webster, I found my role serving veterans. Other audiences you can choose to work with include luxury, sellers, listings, etc.

Understand The Importance Of Omnipresence

Before kicking off your new marketing campaign, it is important to have a grasp of the three marketing vehicles: E-mail, text, and retargeting on Facebook and Google. To nurture and follow up with any campaign, all three must play a part in drawing customers to your mortgage business. Ads are only 10 percent of the equation. The other 90 percent comes from having the right systems, processes, and methodology in place. 

Implementing a campaign that incorporates a variety of social media platforms will help you capture and convert more leads online into sales. 

However, do not forget the importance of follow up, where email becomes quite the useful tool. Create customized templates to increase conversions and optimize your audience engagement. 

A powerful, diverse marketing strategy will increase your clients and get you the return on your investment that a single platform cannot provide. 

Focus On Content

You have two valuable assets at your disposal, and those are your contacts and content. The content you post across platforms needs to be original. It will not do you any good to use content that might appear on hundreds of other ads. Through unique content, you can control your own narrative. Your story and your message matters. It is how you set yourself apart from the competition and make home buyers interested in choosing you as their lender. 

You can use the content to teach home buyers not only about your company, but helpful, mortgage-related tips. This causes the audience to begin viewing you as a learning source and expert. 

Keep Up With Your Growing Contact List

You never know when a contact is going to find the home of their dreams and turn to the professional, they trust to walk them through that process. 

It is time for lenders to make a stand and stop the cycle of relying on other professionals in the real estate industry to bring us customers. We are more than capable of increasing our digital footprint with a marketing plan that aligns with our business goals.

This article was originally published in the Mortgage Banker May 2021 issue.
Alex Caragiannides
Alex Caragiannides

Alex Caragiannides is a business and marketing coach, and founder of BSM Vault.

Published on
May 29, 2021
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