3 Digital Marketing Strategies That Every Loan Officer Should Avoid
October 18, 2019
A guide to using your budget wisely.
“Become a lender” they said, “It will be fun! ” they said...
If you have ever found yourself muttering these words under your breath, you were probably in the middle of putting out yet another fire.
Because what a lot of people don’t know is that being a mortgage professional is the most multi-faceted career in the housing industry.
That’s right. It doesn’t start, nor end at lending. From sales to customer service to financial advising, the job can take many forms.
However, the most overlooked responsibility of a loan officer tends to be digital marketing.
While some branches have entire departments that handle content production, ad campaigns and regular posting on platforms such as Facebook, LinkedIn and Instagram, the average lender actually works from home, meaning: they’re on their own.
But you didn’t become a lender because you are afraid of a little hard work and dedication. In fact, many loan officers accept the challenge to tackle their own marketing but the truth is, finding leads through social media management is a full time job. So, if you’re not doing your research, you can lose a lot of time and not to mention money.
That’s why we put together a list of the top 3 WORST digital marketing strategies to avoid, to give your business the best possible chance.
1. Posting Generic Content
We have all seen it. The cookie-cutter, rigid image of a woman laughing hysterically as she eats her Caesar salad. “What could possibly be so funny?” is what most people say when they see this type of content.
Why? Because it doesn’t tell a story. People don’t want to see conventionally attractive models fake a good time. They don’t want to see the perfect family moving in to a new home they just purchased.
They want to see themselves. They want to see Veterans and First Time Home Buyers. They want to see images they can relate to.
Yet a lot of companies push these generic images and articles because it’s easy to schedule in and forget about it. Because they actually don’t care if your posts get any likes or gain traction.
The foundation of any solid marketing campaign will always be storytelling, So before you sign up with a third-party posting service, make sure your story is being told properly.
2. Purchasing Questionable Leads
Not having your leads met? We hear you.
And while it it makes perfect sense to purchase leads off the internet, there are very few guarantees they will actually work for you.
Some big websites like Zillow offer lead services but what many loan officers don’t know is that Zillow is also your competitor.
So you could bite the bullet and pay up $1500 in questionable leads or you can put those precious marketing dollars into something that is always going to work for you: YOUR BRAND.
A few ways you can do that is by investing in your website, social media campaign or custom premium content that helps expand your online presence.
Because your greatest ROI is a solid, consistent brand. With that, you’ll have no problem attracting your ideal candidates.
3. Boosting Ads Without A Plan
If you’ve dabbled in social media marketing before, then you probably already know that Facebook and Instagram have an Ad Management feature.
Not only is this tool incredibly effective but it allows you to take targeted marketing to the next level.
Let’s say you record a video… After a couple of quick edits you post it online and garnish a couple of views.
Facebook technology will allow you to monitor just how long someone stayed watching your video, thus providing you a better idea of who your audience is and potentially a solid lead.
But in order to use this tool effectively, you need to make a plan because it’s not enough to just throw money at a post.
It’s crucial to learn how to navigate the Facebook Ad Manager, which can easily be done by taking the Facebook Blue Print Course.
If you don’t have time to take the course, you can always sign up for a free consultation. We would be happy to walk you through the many ways you can enhance your social media presence without breaking the bank.