No business can succeed without a well-thought-out marketing strategy. But how can you develop an effective strategy when all your competitors use the same techniques and channels to communicate with potential customers?

In this article, we will share nontrivial mortgage marketing ideas that you can use to boost your business and expand your arsenal for reaching prospective consumers.

What impression does your online presence make on a potential customer?

Online reputation is an aspect that some companies may not pay attention to despite the global trend of moving business online and digitizing business processes. But online reputation is more than just words - in today's world, it is an asset that can and should be used to grow your business.

84% of shoppers reas reviews before the purchasing decision

The light in which an internet user sees you directly impacts whether or not they become your customer. Statistically, 8 out of 10 customers look for company information, especially previous customer reviews, when choosing products or services. In addition, 80.9% say that negative reviews influence their decision to purchase.

Businesses can spend huge budgets on advertising campaigns. However, when a consumer sees low ratings and negative reviews on Google or review sites such as PissedConsumer and Trustpilot, it reduces the effectiveness of all marketing efforts. By incorporating reputation management into your mortgage marketing strategy, you can directly influence the effectiveness of your marketing efforts in attracting new customers and retaining existing ones.

Implement reputation management in your mortgage marketing strategy

Online reputation audit – discover how customers perceive you

Our experts recommend conducting an online reputation audit before undertaking reputation management activities. It is a comprehensive analysis that provides a holistic picture of how your brand is viewed by potential users online. Essentially, it analyzes every type of content that mentions your company. Experts review Google results for queries relevant to you, platform reviews, social media mentions, and articles about your company on third-party sites, including competitor sites. 

When you work with reputation management experts, you will also receive a list of recommendations on how to resolve best any issues that were found and prevent them from occurring. Although it's not the best option, you can analyze your online reputation independently. In this case, we recommend reading our article What is a Reputation Analysis and Why It Matters for Modern Businesses, which describes the steps in detail and the most common mistakes to avoid.

Reviews management – listen and respond to your customers

Loans and mortgages are one of those industries where consumers are cautious when choosing a service provider; it belongs to services impacting crucial aspects of their well-being in the long term. For companies, whose activities are connected with the money of clients, negative reviews should be a major red flag. 

First and foremost, we recommend you pay attention to the online reviews about your company published on various reputation review platforms such as PissedConsumer, Google reviews, etc. The rule of thumb when dealing with reviews is to respond to all of them. It doesn't matter if consumers are praising you or scolding you, but negative reviews deserve even more attention. In most cases, there is a reason for them. Finding the cause can help you address a weakness in your business processes, products, or services. 

Plus, when consumers are looking for reviews about you, the negative ones are more likely to get their attention. By solving your customer's problem, you'll not only reassure them that the negative experience was an unfortunate mistake. You're also showing everyone who reads the reviews that you care about your customers. It, in turn, mitigates the negative connotation, even if the reviewer will not change anything about their review after resolving the issue.

Let's look at what activities need to be done to make this mortgage marketing idea a practical and valuable tool. For example, our cross-platform review management services include

  • Monitor online reviews
  • Respond to reviews and complaints
  • Improve star rating
  • Analyze review trends

Testimonials – assets that many companies underestimate

Many positive testimonials will outweigh the negativity of one or a few negative reviews. Start collecting testimonials from satisfied customers if this activity is not part of your mortgage marketing strategy. The lack of testimonials can scare away potential customers just as much as the negative ones. However, don't hurry to put those testimonials on your website. Our research shows that only 35.4% of consumers look for customer reviews on a company's official website. It is more effective to ask consumers to leave reviews on major review sites and Google Business. 

First, they are likely to be visited by more users than the reviews pages on the company's website. Second, they will likely rank higher on Google when a user searches for "your company name + reviews." 

The PissedConsumer platform offers its Gold Plan users a feature that allows them to create a custom review form and send a link to consumers. The system counts all reviews and affects the company's platform ranking.

Bonus 5 ideas how to boost your mortgage marketing performance

In addition to reputation management, we would like to share a few more mortgage marketing ideas that have long proven to be best practices.

Leveraging content marketing for mortgage success

By producing high-quality, informative, and engaging content, mortgage companies can position themselves as industry authorities and build trust with their target audience. It builds trust and encourages customers to return to your site for trusted advice, creating a long-lasting relationship. No one knows the answers to all tricky questions and nuances that customers care about better then you. You can create videos and post them on YouTube, TikTok, or social media posts with answers to frequently asked questions. A great way is to ask subscribers to leave questions in the comments, as you will always have an inexhaustible source for publishing. The last but not least is conducting webinars and workshops on mortgage-related topics, showcasing your expertise and provides valuable insight to potential clients. Sharing knowledge in real-time lets you connect with your audience personally, fostering relationships that can turn into long-term customers.

Stay up-to-date with competitive analysis and trend awareness

Make a competitive analysis a recurring activity in your mortgage marketing strategy. Regular competitive analysis will help you gain new competitive advantages, adapt quickly to changing conditions, be prepared for them, set performance benchmarks, and seize new opportunities in a dynamic marketplace before the competition does. Rule of thumb – do it proactively, not when a company is struggling.

Utilize email marketing 

Add newsletters to your mortgage marketing strategy if you haven't already. It gives you a cost-effective way to reach potential homebuyers and borrowers, promote your services, and effectively nurture leads over time. Buying a home is a significant financial decision that requires extensive research and consideration. Through email campaigns, you can provide your prospects with valuable information, tips, and updates, building trust and confidence in your expertise. In addition, email marketing allows you to increase customer retention by keeping current customers informed about mortgage-related news, refinancing opportunities, and personalized offers.

Application process automatization

Try automating and simplifying the loan application process. Customers appreciate efficiency and tend to spend as little time as possible. If you can streamline your application and the approval process, minimizing paperwork and wait times you will obtain a powerful competitive advantage. Innovations such as online applications and document uploads dramatically improve the customer experience and demonstrate your commitment to their convenience and satisfaction.

Strengthen your business with innovative marketing ideas. Take these actions to overpower your competitors:

  • Conduct an online reputation audit to understand how your brand is perceived online.
  • Respond to reviews promptly and professionally to improve customer relationships.
  • Collect positive testimonials to build trust among potential customers.
  • Explore additional mortgage marketing strategies, such as content marketing, webinars, competitive analysis, and email marketing.
  • Stay informed about industry trends and adapt proactively to market changes.

Contact our reputation management experts for further guidance and assistance with mortgage marketing strategies. We can provide personalized advice and help your mortgage business succeed in a competitive environment.

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