As a mortgage broker, it's vital to your business that you keep your name top-of-mind for your consumers. In simple terms, top-of-mind awareness means that your name/brand will be the first one that they think of when in need of your services. At the same time, an effective and diversified marketing strategy will enable you to achieve maximum ROI for your efforts.
This article will discuss how to increase your ROI through advertising and talk about why mortgage brokers should invest in marketing right now.
Advertising to Increase Your ROI
There are several advertising channels that you can leverage to increase top-of-mind awareness with your target audience and maximize your ROI. Of course, there are best practices for each channel that can really optimize your results. Some key advertising channels for the Atlanta area include:
1. OTT
"Over the top" content via streaming services is soaring in popularity nowadays — and even more so since the outbreak of the COVID-19 pandemic. OTT advertising carries significant weight. In fact, a study by Roku estimates that some 60 million American households will watch TV content exclusively through streaming services by the year 2025. For best results, you should segment your OTT audience according to "psychographics" such as programming interests and demographics like age, gender, income level, etc.
2. Atlanta Plugged In
Atlanta Plugged In is Gray Atlanta's lifestyle marketing show that airs on CBS46. It is a 2-minute, high-impact interstitial that provides advertisers with a platform longer than the traditional 30-second commercial to showcase and promote their product. Marketing within a lifestyle show or segment is a great way to engage with your audience, educate them on your services, and generate leads. In television terms, 2 minutes is a long time, but not long enough to say everything that needs to be said about your products or services. Use the time wisely by first determining what message you want to get across, ensuring that it is timely and relevant, then intrigue the audience with demonstrations or tidbits that will lead them to your website or social media pages for more information or to make a purchase.
3. TV
Traditional TV is the cornerstone of any effective, high reach marketing strategy. While OTT and other digital advertising mediums are becoming increasingly popular, television is still the heavy hitter when you want to reach a lot of people at once with your message, especially right now as people are spending more time at home and in front of the television.
Whether promoting current deals or introducing your brand to prospects, your commercials can help you reach your short-term financial goals or position our brand to be top of mind when consumers are ready to make a purchase. Airing your ad creative during local news programs can help you attract Atlanta residents that fit your specific target demographic.
4. Digital & Paid Media
With so many consumers researching in the awareness stage of the buyer's journey online, search engine marketing and PPC campaigns are essential business drivers. Ensure that you always post SEO-driven, high-value content to your website blog, and do so consistently.
With regard to PPC (pay-per-click) ads, it's crucial to develop a highly targeted keyword strategy. Many advertisers even use "negative keywords" to filter out low-value or irrelevant traffic from their ad delivery system
5. Social Media
You should have your Facebook, LinkedIn, and Instagram accounts up-to-date with your company's contact info, business hours, location, and other important information. Apart from those essential details, social media is a great way to connect with interested prospects and members of the community in an organic, meaningful way. For instance, when anyone comments on one of your posts, try to respond promptly, professionally, and in a friendly manner. Even simple gestures like that will win you many fans.
6. Email Campaigns
When implemented correctly, email marketing can yield massive returns. In fact, one study found that email marketing can deliver up to $38 for every $1 spent!
In general, email campaigns are more effective when they target MQLs (marketing-qualified leads). For that reason, be sure to combine your form-capture strategy with email marketing tactics. As an example, whenever a new prospect signs up for your email list, make sure to send them a "welcome series" of emails to strengthen the relationship.
Why You Need to Be Marketing Your Brokerage
There are several reasons why you should be investing in increased marketing. For instance:
- The real estate market is currently hot in Atlanta. One housing market forecast estimates that the price of homes in Atlanta is expected to outpace the national increase of 5.7% in 2021.
- There is an increase in people looking for homes. Even though it's a "seller's market," there are still scores of individuals home-shopping in the Greater Atlanta Area right now.
- You can create relationships with consumers that might become future clients. Increasing brand awareness is marketing's version of "playing the long game." If you establish a solid brand image and reputation among your overall consumer base, then some prospects who aren't interested right now could come to you in the future, when they are looking.
- Marketing is a brand-building opportunity. In line with the previous point, the only way you'll be able to increase your company's exposure quickly, effectively, and favorably is through diversifying your marketing channels.
- You'll stand out from the competition. There are a ton of mortgage brokers in Atlanta, which means that marketing is one of the most important ways to differentiate your brand from your competitors’.
- You'll increase your client list. Ultimately, this is the end goal for all marketing efforts.
- Homes are selling fast due to high demand. This is no time to slow down your ad spend. It’s quite the opposite: right now is a golden opportunity to drive sales and grow your business!
In summary, you absolutely should invest in marketing as a mortgage broker in the Greater Atlanta Area. As you do so, be sure to leverage a diversity of advertising channels to reach and engage with the most people. With the right mindset — and perhaps some expert assistance — you'll be able to grow your advertising ROI, maybe even further than you expect!
