When consumers are searching for home loans, they have a huge number of lenders to choose from. Whether it’s a bank, credit union, mortgage broker, government agency, or any other type of lender, there is certainly no shortage of options.
That’s why an effective marketing strategy is vital as a home loan lender. It helps you cut through the noise and grab the attention of potential customers.
In this guide, we will show you how to build a successful marketing strategy through customer referrals, social media, free mortgage reviews, and much more. By following these tips, you can engage your target audience and boost the growth of your business.
Ask for Referrals
As a mortgage lender, you offer your customers an often life-changing service. So, don’t be afraid to ask them to spread the word about your business to their contacts. Potential clients trust the opinions and recommendations of people they know, meaning word of mouth can be incredibly valuable.
You can also ask your customers to provide testimonials about their positive experiences, which you can post on your site and social media channels. Plus, asking them to review your business on Google or sites like Trustpilot is a great way to attract new clients.
Contact your customers through various channels, such as emails and social media, to ask them to refer your business. You could include requests on particular pages on your site, too, and in post-closing communications.
Utilize Social Media
In 2023, there were around 308.27 million active social media users in the US; in 2024, the number is predicted to rise to 313.68 million. Clearly, social media is a big part of the digital marketing strategy for your mortgage lending business.
While promoting your loans and services on social media is essential, it should only be one element of your overall strategy. You should also post local mortgage industry news, your and your client’s success stories, testimonials, informational posts about new types of loans, and (depending on your brand) fun posts that help show the human side of your business.
Here are some tips for utilizing the most popular social media platforms:
X (formerly Twitter)
- Explore X’s trending topics to identify the home loan topics your audience is interested in.
- Find groups in X Communities that discuss mortgage-related topics and post helpful content.
- Host Q&As on X Spaces to engage directly with your audience.
- Post short explainer videos about home loan-related topics on Instagram Reels.
- Reach out to influencers to market your services.
- Use Facebook Ads to target your audience (users searching for topics related to home loans).
- Ensure your business page is fully optimized with links, images, and service information, and stick to a regular posting schedule.
Offer Free Mortgage Reviews
The current economic climate is leading many homeowners in the US to consider whether they could be getting a better deal on their mortgage. Some customers might be concerned about refinancing with mortgage interest rates remaining stubbornly high (around 6.33% to 7.03% for FHA loans). You could gain their trust by offering free mortgage reviews and advising them of refinance home loan rates that fit their needs.
You can promote yourself on social media, email, and website. During the reviews, you should provide an in-depth analysis of their current home loans and give them expert recommendations on alternative solutions. Then, you can encourage them to take the next steps with your business.
Create Informative Content
If you don’t have a blog, create one. If you do have one, ensure it’s filled with informative content covering all kinds of mortgage-related topics.
You could post articles about refinancing and create listicles of top tips for applying for VA loans. If you or your team don’t have the time to write the content, consider hiring a freelance writer or an agency to do it for you.
Webinars and Podcasts
Webinars are a great way to build relationships with your audience. Choose topics that are currently trending in the home loans industry, and give your audience an expert perspective.
You should encourage attendees to ask questions and give their thoughts on the subjects you discuss. As the people who attend your webinars will likely already be interested in these topics, there’s a good chance they’ll turn into promising leads.
Podcasts are another good method for engaging your target audience. You could create a series of podcasts about refinancing strategies, for example.
Final Thoughts
Implementing an effective marketing strategy can significantly impact the success and growth of your home loan business. By harnessing the power of social media, word-of-mouth referrals, educational content creation, and your expertise, you can target your audience meaningfully.
By combining these elements, you create a multi-faceted approach that attracts potential clients and fosters long-term relationships, ultimately contributing to the sustained success and growth of your home loan business.
