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Typical marketing challenges facing mortgage brokers

Typical marketing challenges facing mortgage brokers

Posted:
October 1st, 2021
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Turn these marketing challenges into marketing successes!

The mortgage services industry is fiercely competitive. Most mortgage service firms must go toe-to-toe with scores of similar businesses and providers. The market is saturated, causing most mortgage companies to rely heavily on their marketing strategies to maintain or grow their client base.

Aside from the competition, what other challenges does this create, and what can be done about it?

Common marketing challenges for advisers

#1: Lack of website traffic

Sometimes even the best websites don’t get the attention they deserve. The truth is, making a sleek and functional website is just the first step. You then need to market it to the world with Search Engine Optimisation (SEO), amongst other services. The problem here is that SEO is a niche set of skills that mortgage brokers do not have themselves.

#2: Creating valuable content

Mortgage advisers have distinct expertise in their field that is perfect for content creation. The content that will be most beneficial to clients and their business is usually best from the horse’s mouth – you experts. But a lack of time means these tasks are often outsourced to SEO copywriters. There is nothing wrong with this, but it can be difficult to find copywriters who work exclusively in the mortgage industry and don’t rely on superficial knowledge.

#3: Social media marketing

Social media marketing is a foreign language to most businesses and they will usually outsource the responsibility to professional digital marketers. One aspect of this type of marketing that is most troubling is taking the time to utilise existing data to adjust campaigns. This is another marketing challenge that mortgage advisers tend to leave to others.

#4: Speed of responses

The world of mortgages has been revolutionised by online tools and apps. There is no doubt that finance is online, enabling actions to be done almost instantly and queries answered in record time. Smaller mortgage services firms struggle to keep up and are unable to continue conversations in real-time with multiple clients.

One solution to this issue is the inclusion of customer service bots that can solve most client queries automatically from your website or social media.

Solving your marketing challenges

The main themes running through the above challenges is a lack of time and knowledge. Mortgage businesses require dedicated personnel with the correct competencies to make marketing a success, especially in such a competitive industry. Luckily, you don’t have to employ a full-time marketer or SEO worker if you prefer not to. Outsourcing to the WEBPRO Mortgage marketing experts can give you a full team of professionals whenever needed. Speak with us soon to discuss your business goals and how we can help you achieve them.

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