5 Marketing Ideas to get more loan applications for loan officers and mortgage brokers

5 Marketing Ideas for Loan Officers and Mortgage Brokers

Let’s get right to the point. As a Mortgage Broker / Loan Officer you really don’t want to spend time and energy on marketing.  It can be hard to come up with Marketing Ideas as a Loan Officer or Mortgage Broker. But it doesn’t have to be.

If you are like most Mortgage Professionals we’ve worked with, you struggle to come up with ways to market yourself, and you are probably dancing the ‘Me Too’ Mortgage Marketing Two Step.

Step One: You call agents up and offer to split advertising costs and get them new leads

Step Two: You pray that the agent gets clients from the advertisements and decides you’re the one and only Mortgage Professional they’ll ever use.

And let’s be honest, if you were the only one making that pitch, you’d do just fine for yourself. The problem is, EVERY Mortgage Broker and Loan Officer in town is making the same offer.

Even if that method worked every time… do you really want to tie your success to the real estate agents in your network? Think about it… How many times have you reached out to one of the agents you’ve worked with in the past to find out they aren’t in real estate anymore?

That’s why we put this list of marketing ideas together.

So, if you are ready to get serious about your own success, here are the

5 Marketing Ideas for Loan Officers and Mortgage Brokers

In this list, we will break these ideas into one of 2 categories:

  1. Customers Now – These activities generally get quick results. This is a good place for anyone to start, but if you need to start getting loan applications fast, start here. Just remember, you shouldn’t stop here.
  2. Customers Later – These are activities that are essential for long-term success, but like all good things, they take time. Once you have your marketing in this area figured out, you have set yourself up with a never-ending source of new loan applications.

Customers Now

1. Start with those you’ve already worked with

If you’ve been in the industry for any length of time you should have a growing list of clients you’ve helped get into homes or refinance their homes. When is the last time you reached out to them?

Did you know that the Americans move an average of 11.7 times in their lifetime? Of those moves, a typical 18 year old American will move 9.1 more in times in their life? That means most of your past clients are going to need a new loan for a new home at some point in time, and many of them are probably looking for their next home right now.

But it gets better! Those that aren’t looking to move can often benefit from refinancing their home. They may want to:

  1. Get a lower interest rate
  2. Get smaller monthly payments
  3. Get rid of PMI now that they have 20% equity in their home
  4. Or just use some of their equity for home improvements

Your clients won’t just reach out to you to help them with their refi because you helped them with their original loan. You have to earn their loyalty. So go reach out to your past clients right away (but not until you get through the rest of this list, or bookmark it for later).

2. Search Engine Pay Per Click (PPC) Ads

Most Mortgage Brokers and Loan Officers are afraid of paying for traffic. But, did you know that:

  • 81% of people perform some sort of online research before making a larger purchase
  • 93% of online experiences begin with a search engine, and
  • 75% of people never scroll past the first page of search engines

Clients searching the web on Google are what we like to call high intent web visitors. That means, they are looking for you and the service you provide. Are you making it easy for them to find you? If not, it’s time change.

While you can get on the first page on Google organically through SEO (more to come on that a little later), Pay Per Click Ads allow you to show up above even the first organic result.

Tip: Make sure you have a strategy with your ads from beginning to end. You need to research the keywords you will target, put together a compelling offer, and create a landing page that helps you convert website visitors into leads that will apply for loans with you.

3. Facebook Ads

Facebook is another great place to get customers now. Why?

Like Google PPC ads, you need to make sure you have your offer, targeting and landing page dialed in. But, unlike Google PPC ads, those on Facebook aren’t typically looking for your service. You have to be disruptive. You have to grab their attention, make a compelling offer, and nurture them until they are ready to buy.

Customers Later

4. Search Engine Optimization (SEO)

Almost everyone you work with will go to Google to do their own research before they contact you.

You can (and should) pay for PPC Ads. But, you want to get to the point where your website shows up organically (meaning you don’t have to pay for the traffic).

There is a lot that goes into SEO, and Google is constantly updating their search algorithms. We generally recommend working with a professional who understands all of the factors you need to get right to show up at the top of Google search results.

That being said, there are some things you can do on your own to improve your site’s position in Google’s search results.

  • If your site is on WordPress, start with the Yoast SEO plugin. It will guide you through the basic things you need to get right for your site’s SEO.
  • Make sure your content is human friendly. Marketers used to be able to ‘stuff’ keywords onto a website and get the site to rank fairly easily, but Google’s algorithm has gotten progressively more sophisticated. They want to make sure that the search results they show are relevant and helpful to readers, so people keep using their search engine.
  • Make sure your site is mobile friendly and doesn’t have intrusive pop-ups. Again, google wants their search results to be helpful to users, and they want the user experience to be enjoyable. If your site isn’t mobile friendly or if you have intrusive pop-up ads, they will penalize you and make it hard for those looking for a loan to find you.

5. Build a database of clients and leads.

You never know when someone will be ready for their next mortgage, or need to refinance. You should be building a database of your existing clients so you can stay in touch.

At first this could be a spreadsheet, or even a contact list in your phone or email account, but eventually you will want to get something a little more robust. We recommend using a CRM to keep your database organized.

There are plenty of free CRMs out there if you are looking to just store your contacts like HubSpot’s CRM or Agile CRM.

When you are ready to take your CRM to the next level by incorporating Automated Follow-up, we generally recommend using Keap.

Once you’ve built your list, you need to continue to reach out and provide value and ask for referrals. Once you are getting consistent repeat business and referrals from your customer database, you will always have new business in your pipeline.

Wrapping it all up

This obviously isn’t an extensive list of marketing ideas to get more loan applications, but these are the places we generally recommend that you get started. Give them a shot and let us know in the comments below what has worked for you.

And if you run into issues and need help or just want to hire someone to help you get your own marketing right, message us (it’s over there on the right bottom corner of your screen). If it’s a good fit, we’d love to help you get more mortgage loan applications