Forty-three percent of respondents to a recent National Mortgage News survey found their 2018 mortgage lender through an online search. In the same survey from 2017, only 21% of respondents found their mortgage lender through an online search. If this trend continues, over half of this year’s prospective homebuyers will find their mortgage lender online. For mortgage planners, an online presence with correct and up-to-date information is crucial to success. According to National Mortgage News, technology company Yext found that within its online presence, 64% of loan officers listed incorrect addresses while 46% had errors in their businesses’ names. Meanwhile, almost 58% of the loan officers surveyed had no online presence at all. Ensuring that profiles are created on social media platforms and that information is up to date and reviews are solicited can greatly increase loan officers’ visibility in online searches. A website with strong SEO is very important as well.
When using data collected to target mortgage leads, it is important to understand the type of data with which you are dealing. This will ensure that your mortgage marketing is being communicated correctly. Following are the three major types of data, which involve varying sources and interactions:
First-party data – In its broadest terms, first-party data is data that has been collected by a person or company itself, usually through a direct interaction. This information can include points such as name, address, email and phone number. First-party data is generally considered to be the most accurate and reliable data type, and it is often free due to the collection method.
Second-party data – This is essentially first-party data that has been shared from one entity to another. Usually gathered from consumer interactions by the entity that later does the sharing, this type of data can make understanding audiences much easier.
Third-party data – Acquired by purchase without a direct consumer relationship, third-party data is often gathered using surveillance of web browsing and cookies and may not be verified by the consumer. Third-party data can be effective for targeting or expanding reach.
In some situations, a discrepancy will exist between first-party and third-party data. In a case where leads are generated using an opt-in and the consumer knowingly agrees to receive information from a company, that data is sometimes said to be first-party. However, due to the way this information is collected, it is technically still third-party data.
When using data to market, it is important to think about the source. The way you reach out with first-party data is going to differ from how you reach out with third-party data. When you communicate with first-party data, you have had a real interaction with a person and can speak with them as if you’ve actually met. Because third-party data is bought, you have to speak to these people with the understanding that while they may be interested in a home loan, they have not met you and do not know about your business.
All types of data have a place in mortgage marketing. The key to using them correctly is identifying your goal and understanding how the data you are acquiring is going to support your mortgage marketing strategies.
LinkedIn is one of the most powerful personal branding and networking tools available in today’s digitally driven world. Particularly in an industry where business is created by networking and meeting new people, an up-to-date LinkedIn profile is of utmost importance. Even if you think your LinkedIn profile is updated, there are a few things you can still do to optimize your mortgage marketing efforts in this space.\n\nStart by making sure you have:
- A current/professional headshot and background photo
- Updated work experience
- A headline
- A summary
- A customized URL that follows this basic format: linkedin.com/in/yourfullname
The default headline for LinkedIn profiles is your title and the company for which you work. However, a custom headline describing your role and aspirations can be beneficial to your branding and mortgage marketing efforts. Not sure what to use as a profile headline? Here are a few tips:
- Your headline should be instantly recognizable and short and concise.
- Although the default headline is your current employment position, consider customizing the headline to demonstrate your expertise or vision for your role.
- Succinctly sum up your specialty or approach and support the professional brand you’re cultivating.
Writing a good summary is often a challenge for LinkedIn users. When writing your LinkedIn summary, focus on what you really want readers to know about you, assuming they may read nothing more. Professionally-speaking, what’s your purpose? You can highlight your skills as well as developing aspirations.
For examples of headlines and summaries, click here.
Be sure to frequently update your LinkedIn profile. If you switch jobs, pick up new skills or even begin volunteering regularly with a local charity, make sure you add these changes to your profile as they occur. Your network will see that you have updated your profile, and it may spark conversation that could turn into new business!