Lead nurturing is key to effective mortgage marketing. Lead nurturing is the process whereby a relationship is developed with a customer as they progress through a sales funnel within the buyer’s journey. During the lead-nurturing process, a mortgage planner provides a potential borrower with valuable information to meet any needs essential to assisting the lead to the finish line at the end of the funnel. An effective approach to lead nurturing is imperative to a successful marketing strategy and converting leads into paying customers. Here are five lead nurturing tactics that will greatly increase the effectiveness of your sales pipeline:
Create Targeted Content
In most cases, measurable data can be applied to the individuals interested in what you are selling. Because of this, it is important to discover these people so that you can successfully market to their needs. Producing content that caters to your target audience will make your marketing efforts more effective overall, which should translate into increased sales and improved customer satisfaction. Content for leads can increase your sales opportunities by more than 20 percent.
Email should not be your only form of communication when reaching out to nurture prospects. In many cases, data shows that open rates for marketing emails do not exceed 20 percent. To combat this, be sure to include your social media, website content, retargeting ads and direct sales methods as channels for nurturing your leads.
Mortgage marketing data hows it’s crucial to contact your leads multiple times through marketing touches. Multiple marketing touches greatly increase a prospect’s familiarity with you and your company, which in turn helps propel that prospect down your sales funnel. Be sure to incorporate and rotate your marketing channels into your touches to maximize reach and variation of content. The amount of marketing campaign touches varies by company and industry, so it is up to your talented marketing team to discover the sweet spot for your specific touch frequency.
Respond Within Five Minutes
When it comes to leads, response time is everything. Every second counts, and the longer the time that passes without a response, the less likely that lead is to become a customer. The odds of a lead entering the sales process are exponentially greater when contacted within five minutes of the lender receiving a web-generated lead. Studies show that most leads end up buying from the company that responds to them first.
Make it Personal
Sending a personalized email will increase revenue per email and elevate the number of open rates compared to non-personalized emails. Besides making sure to include a borrower’s name and any other available personal contact info, always make sure you’re asking relevant questions. Set your emails — which may include a welcome message or a re-engagement message — to trigger based on your lead’s behavior.
In conclusion, an effective lead-nurturing technique is a mortgage marketing process that will truly help grow your business for the better. By making sure you provide excellent communication and follow-up to customers, you will not only gain future business from previously converted leads, but also gain business from referrals.