Perception of Value in Mortgage Marketing

After watching the Quicken Loans Super Bowl ad featuring actor/model Jason Momoa, viewers quickly flooded newsfeeds with memes noting that what you see isn’t always what you get. 

In the mortgage world, Quicken Loans has a lot of clout and name recognition and certainly has done a considerably good job of convincing people that a home loan can be as quick and painless as pushing a button and receiving a “rocket mortgage.” Industry professionals know that concept is far from reality, however.

But while mortgage brokers and bankers alike may turn their noses up at the idea of a “rocket mortgage,” the perceived value in the messaging is undeniable. People are intimidated by the loan process and the organization and paperwork involved, and buyers often feel overwhelmed because they don’t understand all that is truly required. 

Quicken’s pitch is that the homebuying process will be easy, and whether or not that’s actually true, the perception through advertising is that it is. So, while memes are fun to share and use to invoke laughter, the real question for mortgage professionals should be: “What can I do to convey the value of working with us, and how do I get that message out?”

Answering that question will likely make you really examine how much your marketing and advertising dollars are helping you locate quality leads and nurture those leads into loans. If your marketing and software aren’t doing this, it’s time to find value in a company that does.