Best Social Media Marketing Platforms For Loan Officers

by Aidan P

Which are the best social media platforms for loan officers to use for mortgage marketing?

There are hundreds if not thousands of social networks online now. More are being launched all the time. Most marketers haven’t even heard of many of the biggest ones. So, which are best for loan officers to generate more business with?

The Power of Social Media Platforms

the power of social media for loan officers
Love them or hate them, social media sites and apps are where people are today. It’s where prospective borrowers, friends and future spouses all hang out and connect. Even more so than in the real world. It’s where consumers form opinions about brands and professionals and make shopping decisions. This makes social one of today’s most effective mortgage marketing channels – if used well.

The big question many have is which of these platforms they should be investing in using, as well as how to wield them to generate real mortgage leads.

Quick Social Media Stats for 2018

Social media stats for loan officers

83% of all social ad spend is expected to go to Facebook this year ($21.57B)
33k+ chatbots are active on Facebook
50M+ businesses have a page on Facebook
Nearly 25% social media influencers believe Instagram is best
Instagram gets more most engagement than any other network (10x more than Facebook and 84x Twitter)
7 out of 10 Gen Xers are more likely to buy from brands they follow on social
The average American uses 3 of the most famous 8 pack of social sites

The Big Social Strategy Decision

Before choosing platforms, loan officers and mortgage companies need to pick from one of two social media strategies.

Go broad across as many social sites as possible
Focus on one to five and do them very well

It takes time and money to do social, even if you are outsourcing it all. There are now more tools for rapidly claiming your online real estate and handles across dozens of sites and streamlining posting. Yet, managing them, providing good service, and standing out enough to get real mortgage leads may be more easily achieved by staying targeted, regardless of how big your budget is.

First Things First

Know your customer.

The obvious choice of social network is the one where your customers are. So, where are they?

mortgage marketing customer profiles
If you haven’t yet, one of the best investments you’ll ever make in the mortgage business is taking a few minutes to understand who your best and ideal customers are. If you don’t know you can dig into your data and find out. Who are the most profitable leads? Who are the easiest to convert? You want to keep your doors open for everyone, but focus and targeting are where you get your maximum marketing ROI from. Build a profile. You’ll eventually use this to plug into your Google and social media ads.

Who are they?

Where do they live?
What careers are they in?
What job levels are they at?
Any other brands do they follow online?
How old are they?

The more detailed the better.

It’s also worth matching your business model with this profile so that you not only know who they are, but when the best time to reach them is, and the best ways to reach them to put them into your sales funnel. For example; do you just work regular business hours. Or evenings and weekends? Are you willing to take leads over the phone, or want everything automated online with loan apps and digital mortgages? This combination will make sure you not only get more out of your marketing budget and social efforts in terms of lead inquiries, but actual closings too.

Find Your Matches

find your social media platform for loan officers
Equipped with the above information you can start finding matches with the right social media platforms. Find which social platforms have your clients and can funnel them into the way you want to connect and do business.

Here are some quick social media stats to give you a head start:

25-34 year olds are the largest demographic on Facebook
12% more women report using Facebook than men
88% of active Facebook users live outside the USA
75% of adult Facebook users make over $75,000
73% of Twitter users also use Instagram
Most Twitter users live in urban centers
Only 32% of Twitter users make more than $75,000
80%+ YouTube users make over $75,000 per year and have a college degree
LinkedIn is most popular with 25-29 year olds
Snapchat users are more likely to only make $30,000 to $40,000 per year
36% of social users saying brands being funny prompt them to make a purchase
Check out our 50+ hilarious mortgage memes that you can start sharing today!