2021 is the year to invest heavily in marketing and close more loans. But what can you expect to see in the 2021 market? Here are some trends for Mortgage Marketing in 2021:
- Housing inventory could open up
- Mortgage rates will edge up
- Home prices will keep rising, but not as quickly
- Zoom towns (housing markets that are growing in popularity due to the remote work trend) could really take off.
- City homes could get a lot cheaper
According to Realtor.com chief economist, Danielle Hale, you can “expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels.” Interest rates, which have motivated many buyers in 2020, “are expected to remain low and will help ameliorate some of the affordability concerns resulting from rapid home price appreciation seen in 2020”, says Selma Hepp, CoreLogic deputy chief economist.
SOCIAL MEDIA MARKETING
To take advantage of these favorable conditions and get your message across to your target market, it’s important to know who your audience is and market to them appropriately. Millennials, for instance, represent a huge market you should tap into. Many millennials plan to purchase a home within the next 5 years meaning that they are seeking information about the house-purchasing and mortgage processes.
This generation grew up in the age of the internet, so they both respect high-quality information sources and know where to find them. Your company must provide them with the information they want and need, or they will find someone else. That’s where social media marketing comes into play. As social media becomes more professional, mortgage companies have the opportunity to reach out to strategic business partners like real estate agents and builders and develop relationships that can turn into actionable leads.
To give you perspective, five out of six millennials connect with companies on social media, meaning that it is crucial for your company to have an active social media presence where you can engage with your customers. 62 percent of millennials say that if a brand engages with them on social media that they are more likely to become a loyal customer.
Well-written and useful content can help educate leads, improve website SEO and attract internet information hunters who trust and respect good sources. Your content can also be shared via social media and can be promoted directly to your targeted audience.
Trust, reliability, customer service, communication, solutions, priority, and speed are just some of things real estate agents cherish. Make sure to have conversations about strategy and goal alignment with your referral partners for a stronger Q1 & Q2. More importantly, add value to them. There are several ways you can create value to your partners, such as:
- Lead Nurturing
Digital marketing is a broad field that relies on the internet and digital devices to attract consumers. The methods are various:
- Solid, easy-to-use website
- Good SEO
- Educational content
- Lead capture & follow up
- Ads & Landing pages
If you are pursuing leads, the only thing that matters is having immediate, predictable, and personalized follow up with purchased leads. They should be immediately prequalified and an appointment should be set for follow up.
Everything you need to generate leads in 2021 is likely already in your database! Before you buy another lead or ask for another referral, shouldn’t you have a clear understanding of what your own database can provide?
Other forms of marketing include video marketing and traditional marketing. This all seems too much? Intent Marketing can help you assess your needs and create the right marketing strategy for your audience market. Are you ready to make Mortgage Marketing in 2021 a success?