In the multi-channel, multi-device arena of mortgage marketing, the use of video is growing at a rapid pace owing to the fact that videos convey messages manifold more effectively than print media. So it is important to know how to leverage Video Marketing for Mortgage Banks.
The importance of video marketing for Mortgage Banks
Higher Click through rate: Videos can supplement the email marketing efforts since it is proven that emails that link to a video can boost the click through rate significantly.
Enhance Borrower Experience: Education videos about loan products or services can enhance borrower experience since most of the borrowers watch videos to learn more about a product or service.
Boost Marketing efficiency: The use of personalized video in mortgage marketing can reduce acquisition costs, increase revenue and boost marketing efficiency.
Helps social media marketing efforts: The use of videos in social media marketing is important since mobile viewers tend to share videos more regularly than any other media.
Matching borrower expectations: Videos are the most effective way for mortgage banks to engage with the borrowers since borrowers have transformed with reduced attention span, increased data sensitivity and borrowers now demand responsive interaction.
How to leverage video for mortgage marketing
Personalized video: Borrowers can be engaged using interactive videos personalized with borrower’s data taken from lender’s CRM system to convey accurate information about mortgage rates and loan products. These videos are cost effective and scalable when the embedding of data into the video from the CRM is automated.
Educational videos: Educational or informational videos go a long way in helping borrowers understand the available loan options as well as to guide them through the different stages of loan process using “How to” videos.
Measure ROI: It is important to analyses the success rate of the video marketing by tracking key KPIs like click through rate, conversion rate, share metrics, watch time etc.
Email Marketing Campaigns: Email marketing campaigns can be built with videos embedded within the emails, newsletters or links to the video included in the footers or in a PS with a short introduction.
Social Media Marketing: Posting videos on social media platforms can drive prospective borrowers to the website and those videos are more likely to be shared compared to other media.
Optimize for search: For each video include titles, tags, categories and a keyword-rich description that includes a link to the website or landing page which will thereby maximize the click through efficiency.
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