In the digital mortgage space, mortgage banks are investing heavily to drive in highly qualified sales and ideal clients to gain a strategic upper hand in the brutally competitive space. With rise in origination costs and lead generation costs, mortgage banks need to optimize their digital marketing efforts and lead generation strategies to close more loans without increasing their marketing spend.
Lead Generation strategies for mortgage industry
Personalized Landing Pages:
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- 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.
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Free non obligation quotes:
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- A CTA button to obtain free non obligation loan quotes can be placed in landing pages to interest borrowers who are not ready to fill out a complete loan application form.
- These custom loan quotes with minimum columns to fill out can be shared via social media as well to capture prospective borrower information.
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Online Application forms:
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- Borrowers expect seamless and easy loan application filling process where the application can be accessed from any device particularly mobile.
- Electronic loan application which captures borrower information seamlessly such that it can be filled easily and accessible from all devices.
- These application forms can be included as part of a point-of-sale application and not as a separate system.
- Prompt Notifications and alerts integrated with the Loan application can inform borrowers about incomplete loan applications, document submission deadlines, and errors in the submitted documents.
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Market segmentation:
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- Targeted advertising using market segmentation makes the target marketing more specific and more appropriate to the audience.
- The borrowers can be segmented based on gender, age group, location and online behaviors.
- Social media with inbuilt tools allows mortgage lenders to target the marketing efforts more specifically based on location, age, gender, career, education, and interests.
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Marketing Automation:
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- Automate the process of lead generation, lead filtering and lead scoring for prequalification before the lead is handed over to Loan officers.
- Leads can also be kept in constant engagement by automating drip emails and messaging.
- CRM software can also be integrated with the automation tools for synchronized efforts.
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