2023 Mortgage Marketing Strategies

2022 was quite a year for real estate and the mortgage industry. We all know that housing markets are cyclical with highs and lows, but last year’s shift happened fast. It was like the faucet shut off overnight…and then what? We pivot, quickly. 

As we ride out the current market, loan officers that have strapped marketing budgets are wondering what mortgage marketing strategies they can implement that will give them the most bang for their buck. This is our specialty, and lucky for you, we’re sharing our loan officer marketing must-do’s for generating more business in 2023. 

We’ll start with some low-cost mortgage marketing strategies that anyone can do starting today.

Tip #1: Get on Video.

We’ve been saying this for years now and will continue to say it until we’re blue in the face—video is a must for mortgage marketing. From Instagram and Facebook Reels to YouTube videos, these are the marketing channels you need to be creating on to reach new audiences. 

And the good news…all you need is a smartphone. Don’t let the excuse of needing new camera equipment or a better set up stop you in your tracks. Take out your phone and record a 90-second video for a first-time homebuyer right now. 

If you’re not doing so already, now is the time to start creating and sharing short-form, vertical videos to increase engagement, views on your content, and your following. 

These are the latest trends to keep in mind when making your videos:

Caption your content

Don’t assume that your videos are being watched by viewers in the privacy of their own homes. If someone scrolls through social media posts in a public setting (aka work), their sound will likely be muted. Be sure to place captions on your video content to up its engagement even when the sound is off. 

Make it vertical

Stats have shown that vertical videos generate higher engagement, more visibility, and longer watch times compared with those shot in a horizontal format. The reason is pretty simple: People naturally hold their phones vertically and don’t want to flip them horizontally to view content.

Go unedited and unfiltered

Make your videos short, fun, personable, and most importantly, keep things natural. Viewers relate to unedited and unfiltered content that shows your personality and the value you offer to your audience.

Even though video marketing trends are constantly evolving, continue to create valuable content, share as much video as possible, and follow the trends. For more tips, check out our article on How to Create Short-Form Video Content.

Tip #2: Expand Your Marketing Footprint.

Expanding your marketing footprint means moving outside your marketing comfort zone and trying new platforms and techniques to increase your exposure to potential clients. Below are some new marketing ideas for loan officers to consider.

Try text marketing campaigns

Think of text marketing as email marketing but with much shorter messaging, no fancy graphics needed, and a much higher read rate. According to stats, SMS marketing is seeing a massive boom thanks to its cost-efficiency and sky-high open rates.

So go ahead and use one of the many platforms available for sending automated texts to new leads and delivering the right messages at the right times during the mortgage process. You can also create text campaigns targeted toward past customers for staying top of mind when it’s time for their next purchase or refinance.

Explore a new social media platform

Reach more prospective leads or target a new audience you haven’t marketed to before by having a presence on a new platform. For instance, you can market to Gen Zers approaching their first-time homebuyer years on TikTok. And LinkedIn is an excellent platform for growing your network of real estate agents and other referral partners.

Create content in a new way

In addition to sharing your videos using TikTok and Reels, why not also start your own YouTube livestream show? The content you create has no borders on where and how it can be delivered. The goal is to reach more people on more platforms to drive more conversions.

Be a guest on podcasts

These stats speak to the booming popularity of podcasts. Like video, podcasts allow the audience to get a feel for your personality, which helps build their trust and can turn listeners into leads.

There are many podcasts that focus on topics like homebuying, real estate investing, housing market news, and more. Podcast hosts are always looking for new guests to share their expert insight and advice. Do your research and create a list of appropriate podcasts you can pitch for a guest appearance.

Some other tried and true tactics to add to your mortgage marketing plan are to host your own events or consider sponsoring other happenings in your community to get your name in front of more mortgage leads who attend local events.

Tip #3: Less Mortgage Talk, More Real Talk.

The average person, especially a first-time homebuyer, does not understand mortgage and real estate lingo. So stop talking that way in your marketing content, and break down your messaging into relatable language, so those without a finance degree won’t get turned off by terms they don’t understand. 

Always make the most of your messaging, and focus your efforts on building relationships and trust, while also providing valuable content to your followers.  

Tip #4: Dominate Local Search Engines.

While Gen Zers may get their information on TikTok, many people still use online search when looking for a service provider with a good reputation. This is why loan officers need to take command of the search engines to boost their SEO strategy in the areas where they do business.

The best first step is to build a Google Business Profile (GBP). Previously called Google My Business, a GBP can be used as a free mortgage marketing tool. It allows you to control how your mortgage business appears on Google Search and Google Maps, gain credibility with customer reviews, and share your business information with potential customers.

Before creating your GBP, work on collecting as many 5-star customer reviews as possible. According to these stats, 72% of customers say they use Google reviews to find businesses, and businesses with 200 reviews or more generate twice as much revenue.

Another way to capture local leads through SEO is to research which mortgage and real estate-related search phrases people are searching for in your area and create blog posts and video content centered around those topics. 

Then put those blogs and videos on your website to generate more traffic. You can also start your own YouTube channel to share your videos and include a call to action that drives viewers back to your website.

Tip #5: Focus on Conversion Techniques.

As avid mortgage marketers and lead generation specialists, we know what it takes to convert customers. We’re constantly refining our process and analyzing results to ensure maximum conversion for your business.

If something isn’t working, you have to change it up. In the fast-paced world of social media, what you did last month may not work this month. Be willing to change up your content and strategy to get the best results. 

It’s also important to remember that getting a lead is one thing: Turning a lead into a paying client is another. When it comes to buying a home, we know that a quick first response (within minutes of a lead coming in) is crucial—and so is consistent and frequent following up by text and by phone.

If you don’t have your lead nurturing strategy in place, we’d recommend a strategy session with our team before you begin any paid lead-generation efforts.  

If these mortgage marketing strategies sound intriguing but digital marketing is not your jam, our team is here to help. Visit our website today to book a complimentary consultation.