Increasing The Effectiveness of Your Marketing Tools

Increasing The Effectiveness of Your Marketing Tools

There are many marketing tools to help loan officers generate leads and increase sales. Each tool has specific goals and typically work independently from other marketing tools. While each tool can contribute to the overall marketing effort, mortgage companies benefit if these tools are promoted in a systematic way throughout the sales process.  

Let’s explore four common tools and how to improve their effectiveness. The four major marketing tools used often for marketing mortgage services are email marketing, website, online apps, and social media marketing.

  • Email Marketing – Email marketing is used in all marketing phases to stay in contact with prospects, past customers and referral partners, such as Realtors. The types of content sent to people should match where they are in the sales process. For example, emailing explainer videos to prospects as they make decisions helps convert the prospect into a client. But sending these videos to past customers would not be appropriate.
  • Website Marketing – Most people shopping for loans will engage in an internet search for information. Website marketing involves getting found online. This involves search engine optimization (SE0), as well as paid advertising with search engine companies. Once people find your website, they have access to your information to learn more about the company.
  • Online Apps – There are many online apps to facilitate the process for applying for a loan online, typically on the website. They give the customer control over starting the process and moving forward in the prospect sales phase. Mobile apps are another common tool. Customers can download these apps to their phone, allowing easy access to a loan officer’s contact information and other online tools.
  • Social Media Marketing – Most consumers have social media accounts and use them to research and follow a company’s products and services. It is an exciting marketing channel that offers many possibilities. Companies use social media to connect with consumers, increase brand awareness, drive website traffic, generate leads and build a community of followers.

Each of these tools have their place in marketing and can achieve good results. The question is: How can these separate tools be promoted to get even better results? The answer is: Calls To Action (CTAs).

CTAs are invitations for your customers to take throughout the sales process and after the transaction is completed. For example, a common goal is for prospects is to start the loan application online. Placing an Apply Now CTA button in your email signature encourages the prospect to take that action when they are ready to move forward.  

Here are some statistics on the effectiveness of CTAs across all industries:

  • More than 90% of website visitors who read your headline also read your CTA (Unbounce)
  • Emails with a single CTA increased clicks 371% and sales 1617% (Wordstream)
  • Forcing visitors to watch an informational video on their services before presenting a CTA increased conversions by 144% (QuickSprout)
  • Adding CTAs to your Facebook page can increase click-through rate by 285% (AdRoll)
  • A CTA within a video gets 380% more clicks than normal sidebar CTAs (QuickSprout)

There are multiple ways you can use CTAs to promote your marketing tools. The important thing to keep in mind is to make sure the CTA is appropriate and aligned with where the customer is in the sales process. A CTA used inappropriately will turn off the customer. For example, a CTA requesting a referral from prospects would be inappropriate since they haven’t done business with you yet.

Here are some CTA suggestions:

Email CTAs – A great place to put CTAs is in your email signature. Every email prompts the recipient to take some action. General CTAs are appropriate for everyone, such as Download My Mobile App, or displaying your social media links.  Apply Now or Apply Online CTAs can also be part of your email signature as well. But they are not applicable to every email recipient, such as a Realtor or past customers.

Another great place to put CTAs is in the body of the email. This associates a specific action to the purpose and message of the email. For example, email to prospects could include CTAs like Apply Now, Contact Me, or Visit my website for the latest rates. Email to past customers could include a CTA requesting referrals.

Website – People visit websites to research companies before deciding on a lender. In a recent study:

  • 92% of borrowers researched companies online before contacting a lender
  • 72% researched for the best rate
  • 59% researched loan options
  • 50% researched lender trust

Your website has many opportunities to include CTAs to help consumers learn more about you and your services. Given what information your consumers are looking for online, it’s important to have CTAs to help them find this information and answers to their questions. Here are a few possibilities: CTAs to view rates, use loan calculators, download mobile apps, apply now or see your reviews.

It’s also important to have links to your social media accounts on your website. Social media provides another informational channel to learn more about you and your company on a deeper level. Your social media accounts are a great way to build trust and create a community of followers during the sales process and beyond.

Social Media

Likes and shares are standard social media metrics used to measure engagement. While likes and shares are important, it is difficult to track if a like or a share results in an actual sale. CTAs added to your social media posts provide a better way to track the effectiveness of your social media marketing.

Here are a few examples of CTAs you can add to social media posts to increase traffic to your website and online apps:  Apply Now, Get Prequalified, Start My Application, Download My Mobile App, Check Out Our Website, or See Current Rates. Keep in mind, it is inappropriate to always include CTAs in every post. For example, you wouldn’t want to include an Apply Now CTA in holiday posts, such as a Happy Mother’s Day post, or other non-industry posts.

One powerful technique to increase traffic to your website is to show the social media content on your website. For example, when someone clicks on a video post, the person is redirected to a page on your website to view the video. After they view the video, they will be on your website with access to your other online apps and information about the company.  This technique is difficult to do manually and requires an advanced posting tool to create the link to your website page to show the infographic or video.

Conclusion

One of the misconceptions of marketing tools is “If you have it, they will use it”. Whether it is having a website, a business page on Facebook, or a mobile app, each tool needs to be promoted. However, rather than promoting each tool individually, placing CTAs in strategic locations to promote all your tools increases their usage and ultimately generates better sales results.

Chris Carter

Founder and President of Market Focus, Inc.

Over the past 27 years, Market Focus services have helped over 20,000 sales professionals in the mortgage, real estate, and insurance industries increase their sales with automated marketing strategies and high quality, industry-specific marketing content.

Market Focus created Mortgage Quest, a CRM and marketing database for the mortgage industry. They also created an automated social media posting service called BlazingSocial.com, which includes mortgage videos and infographics posted seven days a week to Facebook, LinkedIn and Twitter.