Advertising for mortgage brokers: the best strategies for ROI

Here’s an essential mini guide to advertising for mortgage brokers. Discover the key strategies you should be considering. And where the biggest opportunities lie in terms of attracting leads and driving scalable revenue for your mortgage business.

You won’t need us to tell you that the mortgage sector is supremely competitive. That’s where advertising for mortgage brokers can make or break your business. Your future success depends on knowing which mortgage lead generation strategies to pick and how to get the best from them.

In this article, we share some of the key things you should be thinking about. But first…

Let us do the hard work – and cover your ad spend

What if we told you there’s an advertising model that – set up correctly – practically guarantees ROI? We’re so confident in it that we’ll even cover your ad spend. Find out how it works. See how our work for Limitless Finance increased lead-to-mortgage-in-principle conversions by 43%, while decreasing cost per lead by 26%. Or get in touch to arrange a short discovery call between us and your business.

“Brilliant team! They managed to reduce our cost per lead and give us great insights into our sales funnel. Highly recommend.”

– Max Hayden, Board Director, Limitless Finance

Advertising for mortgage brokers: 14 avenues to consider

Advertising: for mortgage brokers today it’s a truly multichannel endeavour. But when you make incremental improvements across the board and stay consistent, you’re likely to notice material benefits to your bottom line.

Here are 14 advertising avenues for mortgage brokers to consider. Jump to whatever interests you most…

1. Aggregators
2. Websites
3. Branding
4. Your Network
5. Brand Partnerships
6. Social Media
7. Blogging
8. Search Engine Optimisation (SEO)
9. Lead Magnets
10. Email Marketing
11. Community
12. Events
13. Life Chats and Chatbots
14. Pay Per Click Advertising (PPC)

1. Whisper it… aggregators

Let’s start with the elephant in the room. The aggregators have such a hold on the mortgage market that it’s practically essential to have some kind of presence.

The problem is the commission that the aggs charge, which is typically around 20% but sometimes even more.

From a profit perspective, it’s far preferable when mortgage leads come to you directly. That makes your non-aggregator marketing and advertising activities all the more important.

2. Spruce up your website

If the aim is to shift the lead generation conversation away from mortgage aggregators, you need to make sure your own website is up to scratch. At the very least it needs to look modern and professional – compliant with the latest UX best practices and providing the ability to gather data on your visitors’ browsing behaviour.

3. Make sure your branding is still relevant

Perhaps your website isn’t the only thing that needs a glow up.

Well-considered branding is more important than ever. In a hyper-competitive market like mortgages, brand perception is key. And consumers are more brand savvy than ever before.  

Any mortgage is a huge financial obligation. You absolutely must look credible and trustworthy – with consistency across all channels. If your leads think you don’t look professional, don’t expect them to hang around.

4. Massage your existing network

In any conversation about advertising for mortgage brokers, it pays to make sure you’re set up to grab the low hanging fruit.

Previous customers of yours who transferred their mortgage elsewhere are key targets – especially if your rates are favourable.

Even customers who have paid off their mortgage should be part of a nurture campaign that fires sporadically. You never know when a previous customer might be in search of a new mortgage to help them climb a rung or two up the property ladder.

Finally, your previous and existing customers are prime targets to approach with a referral incentive. It’s likely they have friends or family in need of a mortgage. The right incentive can help to make sure they direct these fresh leads to your door.

5. Explore the potential for brand partnerships

Estate agents. Property surveyors. Financial advisers. There are plenty of businesses connected to the mortgage sector that you could form strategic partnerships with – either by offering them a referral fee in exchange for leads or by implementing a reciprocal referral program.

6. Get active on social media

According to Statista, there are 56.2 million active social media users in the UK. That represents about 83% of the population. Yet for so many mortgage brokers, social media channels have become at best neglected; at worst a total graveyard.

Perhaps it’s time to change that.

A well-maintained social media presence can be a fantastic lead generation vehicle. The ability to post articles, photos and videos gives you plenty of scope to publish imaginative content – such as:

·   Articles on LinkedIn reacting to industry trends

·   Updates on X with your take on breaking industry news

·   Testimonials from recent customers on Facebook

·   Videos on Instagram explaining different mortgage terms

You don’t have to be everywhere. You don’t have to do everything. Just find what’s right for your brand.

It’s all about solving problems, showcasing your expertise and establishing credibility. You never know who’ll see your posts – or where it might lead.

7. Make time for blogging again

There’s always a place for content that’s good at solving problems. A blog that provides high value – by which we mean genuinely useful – content to your target audience provides a gateway to your brand’s services. Articles such as your expert reaction to industry news, inside information on the state of the mortgage sector and tips on what to look for in a mortgage are likely to be well received by the right people.

Demonstrating your knowledge is a great way to build trust in your credibility.

And your content can be repurposed across your social channels too.

8. Don’t neglect search engine optimisation

Producing high value blog posts consistently on your site is a surefire way to boost your visibility in the search rankings. But it’s not the only way.

Try to make time to keep up with the latest best practices in SEO – such as indexing your webpages correctly, including the right keywords and making sure your website pages are optimised for visitor intent.

9. Create a lead magnet

People respond to incentives. You can start the lead nurturing journey by giving people a clear reason to engage with your company – such as:

·   Signing up for a webinar about what to look for in a mortgage

·   Booking a personalised consultation

·   Downloading an ebook that demystifies complex mortgage terms

10. Unleash email marketing

Email marketing is one of the most effective lead nurturing vehicles out there. So once you have an email address, begin reaching out with emails that meet your recipients where they are in the sales funnel with you. Use what you know about the type of mortgage they are looking for to create personalised nurture streams that encourage clearer decisions while boosting your brand credibility.

11. Think: community

Obviously the world wide web means your target audience isn’t limited by geography. But due to the enormity of the transaction, mortgages are still something that a lot of people like to arrange in person.

Take opportunities to boost your visibility in the local community. That could be advertising in local media, making sure you have a presence at local events or helping to champion a local charity.

Of course, community as a concept needn’t necessarily be defined by geography. If there’s something unique about the way you work, the type of mortgages you provide or the style of properties you provide mortgages for, you can bet there’s a community for you to lean in to.

For instance:

·   If you specialise in mortgages for the self-employed, you could make sure you’re active on relevant online discussion boards.

·   If you’re taking serious steps towards becoming a carbon neutral business, create a marketing campaign that trumpets your green credentials.·   If you specialise in mortgages for commercial properties, advertise in relevant investment publications.

12. Attend events, create events

Exhibiting at industry conferences and talking the talk at networking events: it all plays a part in enhancing your visibility and providing opportunities for new conversations. Make time in the calendar for financial expos and Chamber of Commerce meets.

Of course, there’s very little stopping you hosting your own events too. For example, you could host a mortgage workshop – where you educate attendees on the manifold nuances of mortgage processes, rates and best practice.

Again, it’s a great opportunity to create a space for conversations with new leads. And it shows your commitment to helping people make informed, confident mortgage decisions.

13. Add a live chat or chatbot function to your website

Live chat popups can be annoying. But anything that streamlines the process of making that first connection with a new lead should be considered. Even if it’s simply a mechanism for a visitor to book a consultation or request a callback.

Just make sure, if you’re offering live chat, you have the capacity to reply to inbound messages without keeping people waiting for hours on end. Otherwise that well intentioned chat function could do more harm than good.

14. Embrace pay per click advertising for mortgage brokers

Take it from an expert, pay per click is one of the most accountable and rewarding marketing tactics on the planet.

In fact, if you asked us for the one strategy that had the biggest potential to shift the needle for you in terms of lead generation and revenue? It would be pay per click advertising.

Allow us to explain…

Advertising for mortgage brokers: 10 reasons to focus on pay per click

Both individually and collectively, there’s no doubt that the strategies outlined above can get results for your business. But they also share one thing in common: uncertainty.

When you are looking for substance and security in your new business pipeline, it’s preferable to have a strategy that provides you with some certainty – and that’s PPC.

Here are 10 reasons why.

1. Find the people who want you to find them
2. Target people by location
3. Capture demand nurture demand
4. Cost effective use of your advertising budget
5. Bring flexibility to your budget
6. You can get results fast
7. Build your own proprietary data
8. Get ahead of your competitors
9. Measure, iterate, improve
10. Nurture new leads towards conversion

1. Find the people who want you to find them

Pay per click advertising platforms provide you with sophisticated audience profiling tools to determine who sees your ad and – perhaps more importantly – who doesn’t.

For instance, you can target people who have visited certain websites that signal an upcoming need for a mortgage. Or you can target people based on their job title, income, education, hobbies and a whole lot more.

Set the right parameters and you can make sure your ads are served to people who are highly likely to be interested in your services. Either right away or in the near future.

2. Target people by location

As we covered earlier, there’s still a high demand for arranging mortgages face to face. With PPC advertising, you can set a campaign that only serves to certain people within a predefined radius of your office.

3. Capture demand, nurture demand

Different pay per click platforms have different benefits.

Advertising on Google search can be incredibly effective because you can get your brand in front of people at the exact moment they are expressing an interest in mortgages. That’s called demand capture.

You can use pay per click for demand generation too. By utilising pay per click platforms that are more visual and less intent driven – such as Facebook and Instagram – you can gently introduce your mortgage expertise to carefully targeted audiences who are likely to be interested when they see your ad in their feed.

4. Cost effective use of your advertising budget

With pay per click – as the name suggests – you only pay when someone actually engages with your ad. And if they’re making the effort to engage, you can reasonably confident they have an interest in becoming a customer.

It’s an advertising model that works to keep your ad spend accountable while maximising your chances of ROI. Because unlike other advertising platforms, you are paying for actual engagement rather than exposure.

5. Bring flexibility to your budget

With pay per click you can set daily, weekly and monthly spending limits – yours to adjust as needed. You can also set limits per campaign. Or put an immediate pause on spending within a matter of clicks. You’re always in control of your spend.  

6. You can get fast results

It can take weeks, even months, to see the impact of some advertising strategies. With pay per click you can begin attracting mortgage leads just as soon as your ad is approved – which can take just a few hours. And you get real-time feedback on how your ad is performing.

7. Build your own proprietary data

Advertising: for mortgage brokers, good leads can be hard to come by. Not least because so many companies are chasing the same leads all at once. With your PPC campaigns, every new lead you uncover is yours to nurture a one-to-one relationship with; a chance to gather valuable data that your competitors don’t have.

8. Get ahead of your competitors

Despite its proven ability to drive leads, there are still lots of mortgage brokers out there getting pay per click wrong – if they’re even using it at all.

Taking the time to learn about pay per click advertising can put you streets ahead of your competitors. The more you optimise your campaigns, the more you drive home that advantage.

9. Measure, iterate, improve

Whichever pay per click platform(s) you choose to use, you will get to tap into performance analytics that reveal where your campaign is getting results – and where things could be improved.

Armed with this data you can progressively iterate and optimise your ad campaigns over time, making sure your ads are working as hard as possible to increase ROI for your business.

10. Nurture new leads towards conversion

PPC doesn’t stop after the first click. In fact, that’s just the start. With the right tracking on your PPC efforts, you can set up imaginative retargeting campaigns that allow you to nurture your leads towards conversion. One smooth process: from first click to becoming a customer – and beyond.

Advertising for mortgage brokers: how to get HUGE results using pay per click

When it comes to advertising for mortgage brokers, we’ve published a lot of practical advice about how you can generate huge revenue through pay per click advertising.

Here are some articles to get you started.

>>Lead generation for mortgages: 8 tips for success
>>Google ads for mortgage brokers: a complete guide to success
>>A short guide to Facebook marketing for mortgage brokers
>>Facebook ads for mortgage brokers: top tips for success
>>10 proven ways to get more equity release leads

Let us take care of everything for you

What if you could skip to the bit where your campaigns are optimised, effective and driving revenue for your business? No doubt you can get results with a DIY approach to PPC – especially if you read our articles.

But to get the really transformative returns? That takes time, tenacity and knowledge. So let us take care of everything while you concentrate on dealing with what you do best: selling mortgages. We’re so confident in our ability to get big results that we will even cover your ad spend.Find out how we work. Or get in touch to arrange a discovery call.