Summary
This article explains how ad retargeting works to re-engage potential clients who have visited your website but haven’t converted. It discusses techniques like dynamic ads and personalized messaging for better results. By implementing retargeting, mortgage professionals can maximize their online advertising ROI.
Have you ever stopped and thought about how great marketing your mortgage business would be if a potential client only needed to see your advertisement one time and they reached right out to you to do business? In a perfect world that would be awesome, but the truth of the matter is in the real world that just doesn’t exist. When you add in the noise and congestion of the Internet and the multitudes of businesses trying to capture a borrower’s attention, it gets even more difficult. As markets develop and mass media evolves, people have started to theorize on the exact number of times you need to reach someone to get them to do business with you. In this evolution, the rule of seven has become a very popular belief among marketers.
Why Retarget Your Mortgage Website Visitors
The Rule of 7 is a determination of the average number of impressions a brand must make on a member of their target audience market before capturing that person as a client. You are undoubtedly approaching your ideal clients on many different platforms. They’ve been on your website and requested a home buying guide. They’ve engaged with your social media posts, liking, sharing, or commenting on them. They’ve even seen and possibly clicked on paid ads you are doing on Facebook, Instagram or LinkedIn. So over time, you could potentially reach your ideal prospects 7 or more times and capture their business. But how do you do it more effectively? How can you amplify your nurturing process? This is where ad retargeting comes in.
Ad retargeting (sometimes called remarketing) is a process that allows you to specifically target people that have engaged with your mortgage brokerage website, paid ads or social media posts in an automated fashion, keeping you and your mortgage brokerage top of mind with them and increasing the number of times they see your message and value proposition. Think of it as a mini, technological secret agent that is constantly observing all your online properties, pinpointing those people that are engaging with them and making sure that these people are served your message again. This increases the chances and speed that they are going to contact you to talk about their home loan needs. All of this is done in an automated fashion, allowing you to be more productive and streamlined.
What You Need To Effectively Retarget Website Visitors
While you may think the key to getting more online loan applications is increasing the number of visitors that visit your website each month, the truth is there are tons of visitors that visit your site and leave without ever filling out a form.
The purpose of ad retargeting for your mortgage leads is to get additional chances at converting those engaged visitors into a qualified mortgage prospect. This is something that is definitely a game-changer. According to SocialMediaToday.com, About 70% of website visitors are more likely to convert once they’ve seen retargeting ads..
Ad retargeting platforms offer a dashboard you can utilize to track and categorize your ideal potential clients and launch engaging retargeting campaigns. Retargeting campaigns allow you to gently coax a distracted visitor to return to your brokerage website and finish filling out that loan application. Many times the message in the retargeted ad simply has to be an attractive, value-added offer to convince your potential client of your value and lure them back to your mortgage site. For instance, offering a potential client a home buying guide in a retargeting ad is something that will prompt them to click on it, fill out your landing page form and enter your pipeline.
Must-Have Features For An Ad Retargeting Platform
As we stated above, there are different types of ad retargeting. You can retarget your brokerage’s website traffic, you can retarget people that have engaged with your social media organic posts and you can even retarget people that have engaged with your paid posts. For those reasons, when choosing an ad retargeting platform, it’s important to take these key features into consideration:
- Support for web, social media and paid digital ad retargeting campaigns
- The ability to segment your audience to launch audience-specific retargeting campaigns
- The ability to get at a glance, easy to understand analytic reports of your results
- The ability to easily sync lead data with your brokerage CRM platform
- The ability to draw additional marketing channels such as email into your retargeting campaigns
- Campaign automation to help automate additional marketing touches beyond retargeting
Top Retargeting Tools To Supercharge Your Advertising
We understand that is quite a list of key features, so let’s take a look at a few platforms we’ve found that seamlessly offer these functionalities:
Adroll has built a very popular growth marketing platform, focused on direct to consumer companies like mortgage brokers that allow them to accurately measure your online traffic, segment and bring relevance to your audience and close more business.
Pros
- Their segmentation allows you to recapture the attention of potential clients with information that is most pertinent to them
- They have a robust, cross-channel marketing engine that will track your visitors no matter where they might be on the Internet
- Their platform includes a robust video advertising engine allowing you to retarget prospects in extremely engaging ways
Cons
- They lack pre-built templates for many of their campaigns, so you’ll need a designer to design ads for you
- They lack automated sequences many other platforms offer
- From an ease of use perspective, their platform is built more with professional agencies in mind
Mailchimp is almost certainly a platform you have heard of in the past as they are a well known and popular email marketing platform. What many don’t know is that they have built a retargeting platform that works seamlessly with Facebook and Google display advertising to help coax your website visitors back to your website, encouraging them to do business with you.
Pros
- They have a vast template library in their content studio to help you design your campaigns
- If you aren’t currently using a CRM, they have their own CRM built into their platform you can use to segment your audience
- They cover all the channels: web traffic, digital ads, digital banners, and even postcards
Cons
- Their multi-step automation campaigns aren’t as robust as those offered in most traditional mortgage CRM platforms
- They advertise you can start for free on their platform, but all their retargeting features require paid subscriptions
- They don’t have the vast number of ad network partners traditional retargeting platforms have to display ads on
If you are a mortgage broker that primarily markets your brokerage on Facebook, BNTouch has a Facebook advertising integration that might just be perfect for you. Built natively into their CRM platform, retargeting your mortgage leads has never been easier.
Pros
- With a few simple clicks, you can create a custom Facebook audience from within the CRM
- Being built inside a CRM gives you powerful marketing automation options to help supplement your retargeting campaigns
- Any leads generated from your Facebook ads will sync automatically into your CRM giving you the option to run automated email, SMS and direct mail campaigns
Cons
- The integration only works with Facebook’s ad platform (for now)
- The integration only works with your contacts, records and campaigns within the BNTouch CRM.
- The platform is built into the BNTouch CRM, so if you already have a CRM you’ll need to migrate to a new CRM platform
Key Takeaways
- Retarget potential clients who visited your website.
Using retargeting ads ensures that your brand stays top-of-mind for those who have shown interest in your services.
- Increase conversion rates with personalized ads.
Retargeting allows you to display personalized ads based on previous client interactions, improving engagement and conversion.
- Track performance and optimize retargeting efforts.
Monitoring ad performance helps identify the most effective strategies and optimize retargeting campaigns.
Commonly Asked Questions
- What is ad retargeting, and how does it work for mortgage professionals?
Ad retargeting allows mortgage professionals to target individuals who have already interacted with their website or ads but haven’t converted. By showing ads to these potential clients as they browse other sites, mortgage professionals can remind them of their services and encourage them to take action.
- How can ad retargeting improve conversion rates for mortgage leads?
Ad retargeting improves conversion rates by keeping the mortgage brand top of mind for prospects. As people see targeted ads after engaging with a website or landing page, they are more likely to return and complete the mortgage application process.
- What platforms can mortgage professionals use for retargeting ads?
Mortgage professionals can use platforms such as Google Ads, Facebook, and Instagram to implement retargeting strategies. These platforms provide robust targeting options, allowing mortgage professionals to reach individuals who have previously shown interest in their services.
- What are the benefits of using retargeting for mortgage marketing?
The primary benefits of retargeting include improved lead conversion, better brand recall, and more efficient ad spending. By focusing on individuals who have already engaged with their brand, mortgage professionals increase their chances of converting leads without wasting resources on new, untapped audiences.
See Retargeting Software For Mortgage Pros In Action!
