Knowing your audience and personalizing your messaging to each individual is the heart of targeted marketing. Unlike traditional marketing, it boils down to making customers feel like they are the only one you have. This is the secret to creating raving fans who advocate for you to others.
Targeted marketing starts with defining “WHO” specifically is a good fit for a product or service and delivering personalized messages directly to that targeted audience. This is different than starting with “WHAT” the promotional message is, marketing to a broad audience and expecting a reaction. The process involves four stages that can transform a stranger into a promoter of your brand, ultimately.
Attract: The first stage is to attract strangers via keywords, blogs, social publishing and advertising so they become visitors.
Convert: Next up, you’ll work to convert them using effective landing pages, calls-to-action and user-friendly forms.
Close: Leads are then nurtured by your CRM, marketing campaigns and workflows until they close.
Delight: Once they become customers, this is when you’ll send out surveys and small contents that add value to your customers and make them promoters.
If you are creating an email campaign, you need to think about the type of audience you are targeting. It’s important to get a sense of your target market and find out who they are (age, job, school, home etc.), what appeals to them, where they are geographically, what they do in their free time, how connected they are (email, social media, text), and what they do online (shop, search, learn etc.). If you are targeting refinance customers or first-time homebuyers, there are a number of characteristics you can determine right off the bat:
- Willing to shop around for quotes
- Know what they are doing
- Looking for someone to guide them through the process
- Willing to pay more for helpful advice
- Referral driven
Use the characteristics of each audience to craft a tailored marketing message that speaks directly to their needs or concerns. Intent understands the different types of customer journeys and offers a multitude of targeted campaigns.
Now that you know the concepts, here are the steps to creating your own targeted marketing for your business:
- Find your niche: Decide which customers you work best with and market to them. Do you love working with first time homebuyers? Are move-up buyers more your speed? The more you can target your marketing the more success you’ll have with responses.
- Determine the need of your audience: What are your customers looking for that you can provide to them?
- Develop your solution: How are you going to explain to your customers what you can do to help them?
- Market your solution: Reach out to your target audience via text, email and social media letting them know that you can fulfill their need.
- Share your knowledge and engage in your space: Become a member of groups, forums and communities where you can share ideas, tips and more.
There are several ways to reach your audience and find leads, whether going through your database or asking for referrals. Social media ads are likely the most scalable and cost-effective method to get your brand in front of your target market. People who are thinking about refinancing their home and people who are about to move are on social media platforms. Social media advertising allows you to directly target and retarget these people and place highly relevant ads straight into their newsfeed. Think Facebook, LinkedIn, Instagram, Google and more.
Intent can create targeted social media ads and landing pages for you! Talk to us to learn how we can help you grow your business.
Data plays an integral role in the success of your strategy. Intent can help you organize your database so you know whom you are marketing to. We can also help assign buyer-specific campaigns based on factors such as demographics, behavior, and finances.
Understanding the buyer’s goals and speaking to them about their budget and needs in a home is a crucial first step.
This video covers:
- Ideal customer profiles (ICP)
- Customer journeys
- How to identify your ICP
- Borrower intelligence
- How Intent helps with borrower intelligence
- Creating buyer personas
- Creating content that helps solve their biggest problems
- Answering questions before they are asked
- Providing meaningful education
Questions to work on:
- What roadblocks can you overcome?
- Are your rates competitive?
- If your buyers have children, how are you marketing differently?
- What is the personalized communication strategy for each buyer?
- How many loans did you close in 2020?
- How many were purchase loans versus refis?
- What is the average age of your buyers?
- Were most of them married or single?
- Whom do you want to sell to in 2021?
- What is your marketing plan to get you there?
- Where are you marketing for your ICPs?
- Created a plan that fits each customer’s needs and expectations?
- Warned the buyer that other lenders may try to contact them?
- Been true to the plan and started educating your buyers on everything they will experience in searching for a home, buying a home, and becoming homeowners?
- Worked in tandem with your buyer’s real estate agent to prepare your buyer for everything they will need to do for the move?
- Helped the buyer feel as though they are guided but also in control?
- Solicited their feedback after closing, with the goal of building your reviews?
- Continued to pour into that relationship with good information after the move?
When you use Intent, we handle all this work for you to make sure that every person who receives a mortgage is blown away by your personalized marketing strategy for them.
The marketing industry is rife with various kinds of jargon and buzzwords, some of which are overused and carelessly tossed around. Oftentimes, this creates more confusion than solutions when trying to reach customers effectively and generate business. Some of these fluffy terms do have a legitimate place in marketing lingo, however, so it’s important to consider how much value they can provide to you and your business.
Although it may sound cliché, the “buyer’s journey” is an essential framework for your marketing strategy. It can be summarized as the customer’s path leading up to a purchase. This path is broken down into stages through which a customer progresses: awareness, consideration and decision. From a marketer’s standpoint, the process consists of education, solution and selection. Put simply, your business strategy should recognize and answer the “why,” “how” and “who” questions that prospects often pose prior to making a purchase.
The “education” phase should focus on loosening up the status quo and helping buyers identify a challenge or opportunity in front of them. During this stage, buyers will typically search the internet and explore websites. However, highly engaged human interactions are just as important as non-human, low-reciprocity resources such as pay-per-click ads, blog posts and landing pages. In fact, a Sirius Decisions 2017 study showed that live, vendor-hosted webinars focused on the problem are an effective tool for reaching potential buyers.
The next stage, known as “consideration,” comes about when buyers have diagnosed the problem or opportunity and are exploring available options. Buyers begin to compare vendors and differentiate solutions. Because you stayed top of mind with your buyers during the education period, you want to make sure your business gets short-listed. Free trials, email marketing and sales presentation are useful tactics for setting your business apart.
Ultimately, what may differentiate you from your competitors is how you keep potential buyers engaged along the journey. A lesser known tactic is to open a multiuser environment after a webinar or a sales pitch for content distribution. Consider, for example, a members-only LinkedIn group or private channel in Slack where white papers and case studies are shared.
The final stage is when a decision is made. Here, you want to minimize buyers’ hesitations and nudge them to action. Whether it be a reassuring dialogue with a customer rep or distributor, a noncommittal demo period or limited-time discounts, this is the time to reinforce buyers’ decisions and fully convince them to take the proverbial plunge.
Understanding the steps your customers take to get from Point A to Point B is key to a successful marketing strategy. These journeys are unique to every buyer and can be somewhat hard to nail down because each buyer has different life experiences and a different background. However, in most instances, you can find certain patterns in how a group of customers interacts with a brand. These patterns can be gleaned from readily available internal data and research. By mapping out a “buyer’s journey” — as cliché as that expression might be — you can create different personas and deliver content that will resonate with each buyer at their particular stage in the decision-making process.
What happens from the moment a person decides they want to buy a home? What are the buyer’s thoughts, fears and worries? Where do they turn for advice — friends, family members or online search? How can you be the trusted source of lending information and be in front of them at the right time with the right message?
All paid search and lead generation gurus want you to believe that they have the secret recipe for finding you leads, but anyone who has purchased leads knows the game only too well. The reality is that leads are expensive, not exclusive and require true relationship development.
Put yourself in the potential buyer’s shoes. The buyer simply fills out an application, provides their contact information and presses enter. Within minutes, their phone is ringing, their email is blowing up and texts are coming to their phone. How do they know which lender to choose among the many pitching their services? What makes your strategy different?
- Start with data. Know to whom you are marketing.
- Understand the buyer’s goals and speak to them about the possibilities of the home in their future.
- Create a vision that is realistic and create a true partnership with them as their lender.
- Warn the buyer that many others will try to contact them. Possible suitors include everyone from those who will still be looking at them as a lead, to those who will buy their data once their credit is pulled. Give your prospective buyer the chance to opt out of that contact cycle.
- Be true to the plan and start educating a buyer on everything they will experience in searching for a home, buying a home and becoming homeowners.
- Let them have the easiest path possible when applying for the loan and giving you documents.
- Work in tandem with your buyer’s real estate agent to prepare your buyer for everything they will need to do for the move.
- Let the buyer feel as though they are guided but in control.
- Solicit their feedback after closing, with the goal of building your reviews.
- Continue to pour into that relationship with good information after the move.
We have pioneered successful mortgage companies along this customer journey for years, and we know what it takes to make homebuyers feel respected, heard and understood. Intent will make your customers feel like you are the best communicator in the mortgage industry.