Updated: Apr 20, 2021
As we finally begin to notice the effects of the finance world going digital, it becomes too clear that it has paved way for a much more convenient and efficient approach of getting in touch with consumers.
Geopolitical conditions have influenced a transition to greener, and paperless methods of storing and exchanging information.
It has driven society to turn to an ecosystem of all things digital.
Digital banking, payments, transaction receipts and even the days of going into a bank to get a loan with a subpar suit you probably got last second at JCP is gone thanks to the internet.
Here is how the age of information could benefit your mortgage business...
Most mortgage companies rely too much on referrals or try to target their ideal customers through direct mail. What we are failing to realize is that mail piece may only have the potential borrowers attention for only a few seconds before they throw it out and never look at it again! Engagement is everything.
Nothing is worse than investing money on marketing especially for people who aren't in the position to work with you or not your ideal audience. Marketing with low quality data is working backwards!
It doesn't need to be like this.
In order to change this, the data and leads you are targeting is CRUCIAL.
If you aren't already using Pre-screened, credit or trigger data, then it is time to do some catching up as these data sets will allow you to eliminate the process of working with unqualified leads.
All the above data types allow you to customize your criteria so you are targeting everyone in your audience. You can filter this down to their household income, current mortgage, and even target by county.
What the industry is failing to realize is that this same consumer data you have been using for years can be the catalyst to a highly effective digital marketing campaign if coupled with social media.
Not many of us think about using this. However, it will ultimately cost less than direct mail and can be used to target them through email as well.
Did you know you can even use credit data to target the exact lead's IP address to run personalized offer's to them through Facebook and Google?
It's important to start planning for the future by optimizing your marketing plan with these digital tips.
The world is evolving and the ones that aren't taking advantage of what the internet has to offer in terms of generating more mortgage leads for your business will unfortunately get left behind...