PPC advertising for mortgage brokers and lenders is an effective way to reach people that…
Digital marketing for mortgage brokers has seen major growth during the COVID pandemic as many businesses advertise on platforms like Google Ads and Facebook Ads. And the results for many have been impressive with results of 10% conversion rate and above.
The range of tools and platforms is huge and so it’s not possible to be on all of them. It’s important to pick the ones most relevant, that will help you easily target people and businesses who are in the market for mortgages to purchase their properties.
So, conducting some research and analysis will be very helpful. I’ve included here some tips that will help you get started easily. These are proven marketing tips for mortgage brokers and lenders.
1. Invest in Google Ads
Digital marketing for mortgage brokers presents many promotion options to help businesses target their audiences online. One of the best for brokers is Google Ads. It’s a bidding platform with many tools, features and reports to manage campaigns in the best way.
Many mortgage brokers are seeing the benefits of advertising on search engines like Google and the many websites and platforms it has partnered with.
2. Review your landing pages
To promote your business effectively you’ll need good landing pages that convert visitors to leads. These pages should be engaging and related to what people are looking for in a mortgage broker.
In Google Analytics you can check the current status of your landing pages. The bounce rate metric helps you to see how sticky your pages are and that helps you to take corrective action if there are any issues.
Bounce rate reveals the percentage of people that viewed one page and left without seeing other pages. You should aim to reduce this below 50% by keeping visitors engaged with great content, easy to use forms and fast loading pages.
3. Conduct competitor research
A quick way to improve your digital marketing efforts is to see what other mortgage brokers are up to with their strategies. This is not always easy to do, especially if they are still small or don’t spend much on advertising.
However, you can still use tools like SERanking to see where they appear organically in the search results and for which keywords. The Competitor tool will help you with this.
This helps you with your own search engine optimisation (SEO) plans. And you can see how much effort will be required to rank your website higher for your chosen keywords.
And if competitors are running any pay per click (PPC) campaigns in Google Ads, you’ll see the keywords they are bidding on and how much they spend per month on average.
4. Target people who are searching
When you create a Google Ads account to promote your business, you should only run Search ads to target people that are searching only. People who are searching for a mortgage are usually in the later stages of their purchase journey and so are more likely to contact you.
You will use keywords to target these searchers. And each time they search with the keywords you’ve chosen, your ads will appear for them.
The Keyword Planner tool in your Google Ads account will help you with this research. It is located in the Tools & Settings section in your account.
5. Track your sales or leads
An effective marketing strategy for mortgage brokers and lenders should include conversion tracking to track enquiries. Without this you’ll struggle to promote your business effectively. That’s because you won’t know which of your adverts and campaigns are working for you.
To get started, you should set up goal tracking in your Google Analytics account. This tracks all traffic sources that come to your website. And the reports will show you which of these are converting and you can optimise accordingly.
In the admin section of your Google Analytics account you can use a goal template that’s most relevant for your business.
6. Hire a PPC consultant
But before you do that, make sure you’re picking the right person or agency. Check that they have experience helping other mortgage brokers to set up and manage their campaigns.
Mondo Finance is a Hampshire based mortgage broker that operates a telephone-based service. They contacted me because they needed help setting up a new campaign to improve performance in their Google Ads account. I created a new campaign and click through rates increased by 15% and top of page rate increased to 81%. And they saw an increase in enquiries. Read the full case study.
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My digital marketing services for mortgage brokers will help your business target your customers effectively. Use the form below to contact me to discuss.