Success for mortgage lenders depends largely on who they know. Word-of-mouth referrals based on strong relationships and superior service make an enormous difference to their growth. But in today’s digitally driven sales environment, what lenders know tips the scales, too.
To reach the right audiences and generate leads, mortgage leaders and loan officers depend on informative digital content. The goal is to make mortgage leaders more searchable online. It empowers them to engage prospects, partners or employees, no matter where they are seeking information.
Potential borrowers could be using artificial intelligence or search engines to find a firm that sells home equity lines of credit (HELOCs). They may be on social media or the web, researching the firms they found through their initial searches or prompts. They might be evaluating firms’ “personality,” expertise and approach by exploring their blogs, podcasts and videos. To make doubly sure a HELOC is really for them, they might consult ChatGPT, Google or Facebook to find news and feature articles.
“No matter what they’re looking for, these prospects are on a journey to find a company or loan officer they can trust.”
No matter what they’re looking for, these prospects are on a journey to find a company or loan officer they can trust. Informative, nonpromotional content can advance this. That’s what makes earned, unsponsored media coverage a valuable component of an integrated content strategy.
Decisions by journalists, bloggers or podcasters to cover firms offers automatic third-party validation. Their coverage also expands lenders’ reach, and lender partners benefit from media coverage in unexpected ways. For instance, after a journalist wrote about a firm specializing in property tax appeals, he introduced its president to a networking group of mortgage lenders and Realtors. That in turn led to a digital marketing partnership that generated dozens of new leads.
Differentiate to expand
High-value media relations opportunities empower lenders to differentiate themselves, whether their goal is loan officer recruitment and retention or attracting more borrowers. One national lender wanted to do both by reinforcing the company’s emphasis on staff education. Two searchable online news releases on a staff training investment — one from the company and a second from its training partner — led to prominent new press, which the firm’s CEO amplified when he was honored as a top leader.
Online media coverage also increases the potential for additional referrals over time. A loan officer who sold products to baby boomers and the Silent Generation launched a thought leadership program targeting financial advisers and senior caregivers. Her helpful “how to” articles and blogs — published through online media reaching these potential partners — covered everything from enjoying a comfortable retirement to minimizing taxes.
This loan officer understood the power of traditional and nontraditional media. Today, there are many opportunities to engage media online, as “everyone becomes a publisher” and distinctions between content continue to blur. Sites ranging from Yahoo to online real estate networks run original articles and video content and quote outside experts.
“The perception that lenders need a prior relationship with these properties is a myth.”
The perception that lenders need a prior relationship with these properties is a myth. Journalists choose sources who have unique expertise, a contrarian point of view, new or hard-to-access data or case studies and anecdotes to share — sometimes even anonymously. These deadline-driven individuals also appreciate sources who are prompt, articulate and nonpromotional.
Capturing media attention
In that context, here are some other ways to pitch journalists, whether at the national, regional or local and hyperlocal levels.
- Offer immediate commentary on new data: When organizations release the latest national figures on housing starts, median home prices or new-home sales, journalists may appreciate lenders’ observations on what’s happening in their region.
- Develop and publicize philanthropic and community initiatives: Mortgage lenders have always thrived by connecting with their communities. Whether they’re organizing a regional spelling bee with proceeds going to local schools, or sponsoring a toy drive for local veterans’ families, their programs are often newsworthy.
- Educate and provide hope to borrowers: Could this be the year that many older millennials will finally qualify for a mortgage? As editors and reporters begin coverage of the spring and summer homebuying season, these buyers (and their family members) will rely on their features for insights, hope and guidance.
Lenders should offer to be sources on the nuances of agency and non-QM mortgages, escrows, credit scores and concepts like debt-to-income ratios. If they are launching innovative products to help with affordability, such as private student loan refinancing, this is an opportunity to publicize them. Mortgage brokers and loan officers should also reach out to trade publications reaching referral partners on new product developments.
In the lending industry, both expertise and contacts matter. Online media relations programs, integrated into larger digital content initiatives, expand lenders’ visibility and searchability, reinforce their level of knowledge and increase their business-building connections with partners and prospective borrowers.
