With rise in origination costs and lead generation costs, Mortgage banks need to optimize their digital marketing efforts to close more loans without increasing their marketing spend. Personalization of digital marketing efforts can go a long way in increasing the marketing efficiency and effectiveness of lead generation techniques.
Benefits of personalization in lead generation
Higher borrower retention.
Increased conversion rate.
Enhances the borrower experience.
Higher ROI and success rates.
Better data utilization.
Personalization Strategies of lead generation techniques
Understanding Personas:
- To initiate more direct and personal conversations, mortgage banks need to understand unique customer personas.
- Mortgage banks can leverage technical solutions like segmentation to group the target audience based on age, demographics, location, financial status etc.
- Specialized marketing efforts for different target groups can help mortgage banks in customer retention and boosting engagement.
Personalized Landing Pages:
- Unique landing pages can be served and optimized per audience by establishing buyer personas for different segments of target audience.
- The buyer personas can be established by utilizing the borrower data including personal information available from sources including CRM data, lead capture forms and application forms.
- Personalized landing pages helps in creating a unique experience feeling for the borrower and helps in increasing the chances of onboarding the borrower.
- Personalized landing pages can reduce the bounce rate, increase the engagement level and enhance the borrower experience.
Targeted Advertisements:
- Online targeted ads in social media using borrower personal data helps mortgage banks to effectively reach out to customers.
- Social media also allows mortgage lenders to target the marketing efforts more specifically based on location, age, gender, career, education, and interests.
- AdWords Search Network campaigns can be created by mortgage banks to target homebuyers searching for mortgages online.
Personalized email marketing:
- Almost every type of email interaction with the borrower including welcome mails, confirmation mails, transactional mails, reminder mails can be personalized to enhance borrower experience.
- Using data collected from previous interactions, borrowers can be brought back into the loan process via triggered emails or personalized messages directing them to resume from the last completed milestones in the loan life cycle.
- By creating campaigns for specific segments of borrowers, automated nurture email campaigns can serve as personalized messages.
Looking for more information on ways to leverage personalization for Lead Generation or need help in implementing the right technology, leave us a message.
