Summary
This article highlights the importance of targeting millennials with a strong online presence in the mortgage industry. Learn about the best digital strategies, from social media to SEO, and how to create content that speaks directly to this tech-savvy demographic. By the end, you’ll know how to craft an online marketing approach that attracts millennial homebuyers and converts them into clients.
With the invention of the internet, we have entered into an era where people do fast and thorough research before buying anything. Generation Y or Millennials were raised in this ecosystem. It does not matter if you are selling services or goods, you are going to get researched.
Mortgage is one of the largest, if not the largest, purchase in most people’s lives. They are going to do tons of research and you have to be ready for it. You have to adjust your online presence so every piece of information about you will tell Millennials that you are a trustworthy, reliable mortgage professional. We’ve prepared eight pieces of advice on how to effectively create your online presence and take the first step towards conquering the Millennial’s market.
Website
1. Get a professional website
If you still do not have a website – stop reading this article and go get one. This is the single most important thing that you can have on the Internet. Millennials are going to study it, share it, leave testimonials and much more.
Don’t go for the super complex, corporate-style websites that takes a lot of time to create. Simple websites created on WordPress with the help of a simple template will cost you close to nothing but will provide you with a great Millennial’s conversion instrument.
2. Make sure your website is mobile-friendly
According to this Google research, 80% of people aged 18 – 48 (Millennials and part of Gen X) use a smartphone every day. On the picture below you can find how people are interacting with their devices each day.
Source: https://www.thinkwithgoogle.com/articles/device-use-marketer-tips.html
This means that you absolutely have to keep mobile in mind when you order your website setup or development. Providing Millennials with seamless transition from one device to another can be a HUGE bonus for you and your company.
3. Create a contact form on your website
Having a contact form on your website is crucial. At any point while being on your website, potential borrowers can decide that they want to carry a mortgage with you. You have to be prepared for this and display a small contact form or call to action (CTA) on your website. Below is a form that we are using on our BNTouch index page. Its implementation boosted our conversion rate almost twofold.
For CTA people usually use buttons that have engaging phrases on them. This CTA will lead your client to the page with info that you want to show things like forms, some piece of engaging content, testimonials, etc. Don’t oversell it though; too many CTAs and forms on a single page could distract potential clients from even more important things.
4. Connect your website to a CRM
We can’t stress enough how important it is to start your marketing as soon as you get the lead. The mortgage industry is very competitive. If you don’t start your marketing the right way, your potential client will go somewhere else.
This was true for previous generations and it is still true for Millennials. Even though they spent hours on research and picked you out of thousands of LOs (Loan Officers), they always have a backup plan to make sure they get what they want in the shortest time possible.
Set up your CRM so it automatically starts a marketing campaign when the lead hits that “Submit Contact Info” button on your website. Send a simple “Hello” email or text message to get things rolling, even if you’re not available at the moment. You can follow up that message with a call, or you can stick to emails or text messaging if the client prefers.
5. Put testimonials on your website
Testimonials are the second most important thing that Millennials look for on your website. Make sure to put them on your website and make them noticeable. The more positive testimonials you have on your website the more chances you have to do a mortgage with Millennials.
Needless to say, testimonials should be truthful and from actual people who did business with you. Put a name and a photo of the person that gave you the testimonial right next to the testimonial text so visitors on your website understand that there is a real human behind it.
6. Educate Millennials
According to a recent survey conducted by Choice Home Warranty, nearly 30 percent of Millennials are planning to purchase their first home within the next five years. What does that mean? It means that mortgage processing details could be a very dark and unfamiliar place for them, and they are going to do their research.
You should seize this opportunity. Make sure to provide some educational material on your website – answer basic mortgage questions and put together a simple FAQ. Millennials will recognize a person that really helped them get on the right track, and they will more than likely end up doing business with that person.
Social
7. Create social profiles that look great
As soon as you are finished with the website you should switch your attention to social media. Make sure that your social profiles have all the necessary information about you, how successful your business is and how to contact you. Millennials are actively sharing content through social media, this includes relaying information about good experiences to each other.
Make sure to connect your social profile with your website. People will want to know you better. Your social profiles should a have a link to your website and your website should have a link to your social profiles. You need to paint a complete picture of your professional life to maximize your chance of winning Millennial’s business.
8. Register and be active on Q&A resources.
There are a lot of websites that offer borrowers a platform to ask questions and share opinions regarding their mortgage experience. Here are some of the platforms:
https://reddit.com/r/homeloans
http://bestinmortgage.com
https://www.lender411.com/
You should be constantly looking for new platforms. New platforms mean new opportunities to get more business. Don’t be scared if you find something negative about services that you provide, this can always be turned into an opportunity. If you publicly talk to a person, you need to take positive steps toward solving the issue. By doing that, this person can become your best advocate and bring you tons of referral business going forward.
Millennials are not limited to the platforms listed above. Some of them go to the services such as Quora.com to ask questions about basically anything, including mortgages.
Check those sites regularly for new submissions on the mortgage topic. It is a great opportunity that not very many mortgage professionals utilize.
Conclusion
Even though increasing your online presence could be overwhelming at first, you should really dive into it today, otherwise you will be missing out on a huge opportunity, namely 35% of the mortgage market share presented by Millennials.
Make sure to contact us should you have any questions or suggestions.
Reach us via email info@bntouchmortgage.com or via phone 888-971-1117.
Thank you and let’s bntouch!
Key Takeaways
- Focus on Social Media Engagement
Millennials spend significant time on platforms like Instagram, Facebook, and TikTok. A well-maintained social media presence with valuable content can drive leads and build trust.
- SEO and Content Marketing Are Essential
Optimizing your website for search engines and sharing educational content, such as blogs and videos, ensure you’re discoverable when millennials research mortgage options.
- Leverage Reviews and Testimonials
Millennials heavily rely on reviews. Showcasing positive feedback on Google, Yelp, and social media profiles can build credibility and influence their decisions.
Commonly Asked Questions
- Why is online presence crucial for attracting millennial homebuyers?
Millennials rely on digital platforms for research and decision-making, making an active online presence vital for capturing their attention.
- What content strategies work best for engaging millennials?
Sharing educational blogs, how-to videos, and interactive posts on social media can resonate well with this audience.
- How do reviews influence millennial buyers?
Reviews build trust and credibility, which are essential for millennials when choosing mortgage professionals.
- What role does SEO play in reaching millennials?
SEO ensures your website ranks high in search engine results, making it easier for millennials to find and engage with your services.
