In 2015, Quicken Loans launched Rocket Mortgage. Users of the app can apply and get approved for a mortgage in minutes using only a smartphone. A year later, Bank of America launched their online mortgage fulfillment center. The center allows customers to upload documents, receive disclosures, and review their status.
Mortgage industry, welcome to the digital age.
More and more, customers turn to digital channels to research and execute mortgages. As a result, it has become essential to market in those places. However, it’s also important to retain a human element and earn trust. Omni-channel marketing strikes this balance.
Mortgage Omni-Channel Marketing
As with any strategy, mortgage omni-channel marketing starts with a target audience. It relies on geolocation, life event triggers, income, and more gathered via various channels. This data informs a list of leads.
From there, things get interesting. Omni-channel marketing takes the leads, and gathers as much information possible about which channels each lead uses. This data appending includes prospects’ physical address, email address, social media handles, and more.
As a result, prospective customers will receive consistent mortgage lender messaging across all channels they already listen to. This is much more effective than similar marketing strategies. Multi-channel marketing, for example, focuses on channels where leads may be found. Omni-channel marketing focuses on where leads have been found. Impressively, industry data shows the latter boosts campaigns by 37%!
Benefits of Omni-Channel Marketing for Mortgage Providers
Of course, earning and retaining trust when it comes to customers’ money is important. However, this trust can be hard to earn. Inconsistent messaging undermines relationship building. Also, a lack of presence on channels used by a prospective customer fosters doubt.
For example, Accenture found that 73% of consumers do not think the experience they receive from their bank’s branch, online, and mobile channels is seamless. Also, Accenture found that 60% of customers use online banking at least weekly. Clearly, this means consumers are still using both online and offline resources to handle money. They value digital convenience, but also human-touch security.
Lead generation comes from both online and offline sources. Helpfully, omni-channel marketing responds in kind. It assures prospective customers that a mortgage lender is available on any preferred channel. Social media marketing and automated emails clearly work best in tandem with direct mail and CTAs. All should also connect prospects to human loan officers at critical moments. Fortunately, omni-channel marketing makes this possible.
Choosing an Omni-Channel Marketing Partner
At the end of the day, customers choose businesses they trust. You should do the same. Propelo Media generates effective lead lists for mortgage providers, or works with existing leads. Automate direct mail, social media, email, mobile displays, and desktop retargeting to reach your target audience. Hone in on only your target audience, on the channels they actually use. This makes the most of every marketing dollar spent, for excellent conversion results.
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