4 Digital Strategies That Will Give Your Mortgage Acquisitions A Boost

June 22, 2021

As mortgage rates remain low and the demand for loans continues to rise, 2021 will have some tremendous opportunities for lenders to bring in more business.

More demand, however, means more competition.

It’s important to distinguish yourself in the market and utilize the technological advances at your fingertips to give yourself a competitive edge and make the buying process as effortless and uncomplicated as possible.

Make your services mobile-friendly.

More buyers want to apply, submit documents and track the progress of their loans all on their mobile devices. Make sure that you have more than just a mobile responsive website, but also a well-designed app that will allow them to do as much as possible. Notifications will allow you to maintain good communication and ensure that the process happens smoothly and timely. As a lender, you’ll enjoy a faster sales cycle and lower costs and make it easy for your borrowers to share with friends how easy it is to start working with you.

Be ready to chat or text.

Millennials and Gen-Xers are three times more likely than Baby Boomers to communicate via online chat. Both are growing more fond of ongoing communication through texting versus phone calls and voicemails. Texting and chat allow the borrower more time to respond and think about how they should reply. You can also send various texts to nurture the relationship throughout the lending process.

Of course, you will need to confer with your financial institution to ensure that compliance regulations are upheld and maintained through the proper tools and resources, but it’s worth it. According to data collected from the National Association of Realtors, meeting your borrowers where they are at with direct message marketing is one of the best ways to advance in the marketplace.

Take advantage of social media.

Many lenders use social media platforms to primarily make posts that gain awareness of their products and services. While this is helpful, it doesn’t stand out and produce the best results.

Focus on building trust and providing value. Think about what your customers need and what questions they’re asking. What are their fears? Concerns? Problems? Then use the 9/10 rule. For every ten posts, make nine of them educational and informative. Be sure to write about relevant topics that matter to them. A tenth of the time you can post to tell them about your products and services.

Optimize your website.

Your website is your online headquarters. Make sure that you don’t scare away your traffic with poor design and confusing navigation. Make sure it loads fast and intuitively provides what they came to your site to receive.

Make sure your contact information is found both at the top and bottom of your pages, and clear and compelling CTAs are used consistently throughout.