Millennials now makeup 43% of homebuyers. Data from the National Association of Realtors (NAR) reveals that these young shoppers are often buying their first home. Is your mortgage marketing strategy optimized to reach millennials? If you’re not sure where to start, then keep reading. The following strategies can help you tap into this growing market.

Know Your Audience

Understanding your target audience can help you adapt your mortgage marketing strategy. So what should you know about millennials?

Millennials consist of those born between 1981 and 1996, though the exact years can be a bit fluid. The 2019 census identified 72.1 million millennials living in the United States. The 2022 NAR survey found that millennials represent 43% of homebuyers, and a quarter of this group are older millennials (ages 32 to 41).

Younger millennials are more likely to be first-time buyers. But millennials are concerned about the affordability of home ownership. As such, your mortgage marketing efforts should focus on education and guidance.

Create a Compelling Story

Why should millennials choose your mortgage company? What makes you stand out from the competition? Your mortgage marketing content should create a story that answers these questions and helps millennials see the value of your brokerage services.

Many millennials assume home ownership is out of reach due to limited inventory and rising interest rates. Your unique branding can help them see things differently.

Emphasize the possibilities that you provide to millennial home buyers. This will encourage them to make home ownership a greater priority and may prompt them to turn to your company for assistance.

Use SEO to Get Noticed

For millennials, the home shopping journey starts with a Google search. And with so many competitors, you’ll need to find ways to increase the visibility of your website.

Search engine optimization (SEO) refers to a set of practices that help your web content rise to the top of search engine results pages.

The easiest way to do this is to sprinkle relevant keywords throughout your website. For example, you might include things like: “first-time buyer programs” or “mortgage brokers near me.” When a web user searches for these terms, your website will be more likely to appear in the search results.

Make Sure Your Website is Mobile-Friendly

Millennials are natives of the digital universe, but that doesn’t guarantee they’re shopping from a desktop computer. More than half of millennials surf the web by scrolling and swiping on their cell phones and tablets.

Make sure that your website uses responsive design. This means that your website looks great on any device. Mobile users should be able to navigate your content with ease. Otherwise, they will quickly abandon your site to search for a competitor.

A good mortgage CRM (customer relationship management) platform can streamline your web development. This also ensures that your website is clean and responsive, helping younger visitors access the content they need.

Stay Active on Social Media

According to data from PR Newswire, young adults discover new brands while scrolling through social media. If you want to reach millennials, it’s important to cultivate your social media presence.

Unfortunately, it’s easy to create a business page and then neglect it for weeks (or months) at a time. A mortgage CRM platform can provide you with templates and curated content that give you material to post on your social media feeds.

It also helps to find the right channel. Facebook offers a broad approach, but Instagram is especially popular among millennials. Staying active on sites preferred by young adults can help you increase your visibility.

Grab Their Attention

With so many companies competing for attention on social media, you’ll need content that stands out.

For example, posts with images generate more engagements than those without. But most millennials would prefer a video over a blog post. Creating video content can be an easy, direct way to convey information about your brokerage services. Most social media platforms allow you to create video ads that users can click on without leaving the platform.

Posting survey questions can also encourage interaction on your social media page. Just make sure to respond quickly to comments, which can help you engage your target market more directly.

Seek to Educate, Not Promote

Many millennials are first-time buyers. As such, they may lack familiarity with the lending process. Your mortgage marketing content should educate them on their available options and give them an idea of what to expect.

Nowadays, millennials are wary of the traditional sales pitch. As much as possible, focus on providing valuable content that offers objective data. Avoid trying to sell your services too early, which can apply unwanted pressure and drive customers away.

Similarly, avoid using a lot of slang or trendy jargon when talking to millennials. It gives your content a short shelf life, and it can come across as unnatural from a company in such a serious industry.

Rely on Testimonials

The most authentic mortgage marketing content comes from your other customers. Incorporate customer reviews and testimonials into your website or social media pages. This will highlight the value of your company, as well as give prospective customers an idea of what to expect.

For best results, gather testimonials from millennial home buyers. Customers may connect more readily to their own generation. Reviews or even videos of satisfied clients can give your business greater credibility in the eyes of millennial shoppers.

Here is yet another way a mortgage CRM system can help. The right mortgage CRM can be used to request customer reviews and organize them for later use. The best platforms even allow you to screen and respond to negative reviews, allowing you to resolve the issue before the review goes public.

Prioritize Relationships Over Results

You might remember the ABCs of sales: Always Be Closing. But when you interact with millennials, the key is to build relationships rather than seal the deal.

Sure, your long-term goal is to sell a mortgage product. But in the short term, it’s important to present yourself as a partner who can walk with your clients through the process. For example, you might follow up with millennial leads by asking if they have additional questions. This keeps the dialogue going and anchors you as a resource rather than a salesman.

This can be particularly important for millennials. Many young adults live far away from home and may miss the guidance they once received from their parents. Offering stable, reliable input can foster a stronger connection and provide a foundation for a working relationship.

Emphasize First-Time Buyer Programs

Since so many millennials are first-time buyers, it makes sense to emphasize relevant options. For example, you might produce content such as “tips for first-time buyers.” This sort of content can educate as well as point toward the unique value of your company.

While the web is a great place to publish solid content, do not underestimate the possibilities of in-person events. Offering a seminar on first-time mortgage options can give you an audience of interested millennials in your area. You can gather information from attendees, enter them into your customer pipeline, and follow up later.

Offer a Do-It-Yourself Approach

Millennials do everything online. This includes job hunting, dating, and banking. Why should the mortgage process be any different?

A quality mortgage CRM can provide a customer portal that millennials can use to complete forms, ask questions, and more. This minimizes the need to come to your office to complete each phase of the process.

Advertising the ease of this customer portal may attract millennials who are used to this sort of do-it-yourself approach. Some millennials will be willing to choose your company over others due to the simplicity of your interface.

Invest in Your Community

Millennials are more willing to invest in a company that shares their values. Mortgage brokers can connect to younger generations by remaining active in their local community. Participating in charity drives, service projects, or other community events can demonstrate that your values run deeper than the mortgage industry alone.

If you’re not sure where to start, you might consider collaborating with other industry professionals in your area. Even a simple neighborhood cleanup day can speak volumes about your priorities.

At the very least, a mortgage CRM system allows you to go paperless. This is just a small way to go green, which can help you connect with millennials who have a passion for the environment.

Mortgage Marketing Made Simple

As a mortgage broker, you have a lot on your plate. That’s why you need a customer relationship management platform that works for you. The right mortgage CRM can help you create and implement a marketing plan that speaks to millennials.

The BNTouch platform can do just that. Using our innovative tools and features, you can create customized content, manage your social channels, and do much more.

To learn more about how we can transform your lending practice, contact BNTouch today to request a demo!

The post Mortgage Marketing 101: How to Market to Millennials in 2023 appeared first on .

Rising interest rates and economic uncertainty have triggered major pullback from consumers, underscoring the necessity for mortgage professionals to revamp and fortify every angle of their business.

Further still, forward-thinking lenders understand that this downturn doesn’t just warrant an immediate response to weather the storm but also to prepare for when the market is white hot again –and that means upgrading the most critical areas now.

Get Ready for 2023

Market Predictions 2023

All Signs Point To Purchase Market Remaining Strong

Buying a home remains an amazing opportunity for those with the resources. With higher interest rates potentially leveling off in the near future, consumers will be looking to mortgage professionals to help them understand their options better – including buydown products that will help them manage their rate for the first couple of years of their loan.

GSE Programs Ensure Affordability and Reignite Consumer Enthusiasm

Home affordability is top of mind for government-sponsored entities (GSEs) right now, and they continue to roll out policy updates so that more people can purchase a home. With sound policies from GSEs and access to information through mortgage professionals like you, consumers are becoming more confident, and homeownership will no longer feel like an elusive dream.

Getting and Retaining Clients: The Goal in this Cyclical Industry

This year, your focus should be on retaining clients. Building a booming refinance market starts with purchases and creating great experiences that keep borrowers coming back for more! Tailor your technology to allow maximum speed and efficiency in closing loans quickly – within two weeks or less – so everyone involved gets an incredible experience at every stage of the process. Doing this will create lots of opportunities for those looking to refi down the road, not only now but well into 2023 too!

Broker Channels On The Rise

We are entering a new era in mortgage brokering, with brokers currently accounting for 22% of loan originations and predicted to surge up to 33% by 2026. Aside from the several thousand in savings that can come with using a broker, consumers are looking for personalized guidance and education –a niche that plugged-in brokers are particularly dominant in.

Winning in the Immediate + Preparing to Dominate

Even without a definitive answer on when the market tides will turn, mortgage professionals must strategize to win in the present and the future.

To be clear, this article isn’t about helping you to “stay afloat” in a challenging market.
It’s about making the necessary technological transformations that help you win in any market –going beyond surviving a storm and shifting into mastering it and having the tools required to service the inevitable demand in the times ahead.

Let’s break down what that will look like in 2023.

2023 is all about Making Strategic Mortgage Tech Investments

Customer Experience is King

Consumers are becoming more and more self-sufficient when it comes to accessing their personal finances. From shopping for a new credit card to comparing car loans (and home finance options), their next financial venture is just a few clicks away. In fact, upwards of 85% of Americans prefer to use a mobile app for their financial and credit needs.

But instant gratification or self-sufficiency isn’t the main differentiator that you think it is.

Consumers have voted with their dollars and made it overwhelmingly clear that they demand an exceptional customer experience.

Have you already made the necessary changes to ensure you’re offering it? Are you delivering it consistently across all platforms and executing it better than your competition? Remember that a customer experience that converts goes beyond convenience. 

It captivates, delights, excites, and provides access to a bright future they’re ready to make a reality. 

Get Ready for 2023

Boost your Realtor Referrals

The mortgage industry has become a highly tech-savvy space, with rapidly evolving technology and user demands affecting every loan transaction. Yet amid all this advancement, we can’t forget human interaction still plays an essential role in generating success.

This could be seen through your online reputation – consumers trust their peers when deciding who they should work with for critical financial matters such as a mortgage.

It’s even more true regarding realtor partners; referrals from this network can make or break your pipeline, no matter the market.

Working together, agents and mortgage professionals are a robust partnership with the same mission: to make home buyers happy! Building an effective working relationship requires more than just teamwork. It takes communication, trust, and the ideal lending ecosystem that optimizes collaboration. 

Depending on where you’re currently in your digital transformation, it could be as simple as filling in existing technology gaps or possibly an entire mortgage tech stack overhaul. Whatever the case, building a wider referral network and developing deeper relationships with realtors should be based on creating the ultimate experience for agents, borrowers, and mortgage professionals.

Get Ready for 2023

Leverage tech for LO recruitment & retain your top producers.

Competition is always high in our industry, so building and maintaining your powerhouse team is even more paramount during challenging markets. It’s also all the more difficult.

One of the best ways to achieve this is by equipping your team with tools that nurture and fuel a healthy pipeline of qualified leads. Intuitive mortgage technology like that from LenderHomePage is designed to delight and capture those high-priority consumers – the lifeblood of your top producers. 

Plus, intelligent mortgage tech streamlines the process and provides your decision-makers with the insight they need to hyper-focus on qualified candidates while seamlessly nurturing the rest.

Get Ready for 2023

Prioritize social media management and digital presence!

Out of all the marketing efforts available, the one that is often considered most paralyzing by LOs is precisely the one that is the most critical for 2023 — social media! 

Consumers are overwhelmingly savvy about using the internet to support their home-buying process, including social media. By making it a priority to capture that mindshare of those browsing social media and asserting yourself as an expert, you can build your brand and earn the trust of potential borrowers. 

While paid social media ads are still king for capturing leads, simply having an active and engaging social media presence is a robust way to expand your sphere of influence, increase lead-generating opportunities, and drive action.

While social media can be daunting, it by no means has to overtake your workday productivity. 

Take advantage of our social media mortgage marketing services that automate the process (from providing the content to automated publishing to done-for-you-branding), and never be worried about leaving “money on the table” by ignoring social media marketing. 

There’s no way around it; the mortgage industry is bracing for a formidable next two years as housing demand and interest rates continue on their path to correction.

But don’t let that distract you from the immense opportunity that is still available –and will multiply.

Get Ready for 2023

Leverage data-driven mortgage marketing strategy.

McKinsey reported as early as 2021 on a powerful trend for both bank and nonbank lenders. Investments in third-party technology and data resulted in massively improved customer experience. However, it also demonstrated that it could similarly turn data-driven insights into a marketing strategy that can help lenders navigate the ever-shifting lending environments.

For example, data could be used to predict a consumer’s propensity to apply for a new mortgage within a specified period of time. By combining traditional credit data and Fair Credit Report Act-compliant alternative credit data* (or expanded FCRA-regulated data), lenders could increase the likelihood of connecting with qualified consumers. Essentially, lenders can leverage the data to analyze who is qualified based on their credit criteria, plus the possibility that they will apply for a mortgage loan.

However, propensity models are only part of the equation. 

Data is also the foundation to hyper-segment your marketing reach, which is particularly critical in times like these when you’re trying to extend your marketing budget. By incorporating your internal CRM data with non-FCRA data, you can further distinguish look-alike populations to customize your messaging across all your marketing channels. 

Once you have your look-alike prospects, you must nurture them in a digital ecosystem that ultimately converts them to clients.

For forward-thinking mortgage pros and those who know winning takes strategy supported by innovative technology, 2023 will be their year. 

Get Ready for 2023

Happy New Year to all Our Subscribers and Everyone Considering Joining the BNTouch Family! 

You might have heard the unemployment stat is down to 7%. Which is great and all, but there is another statistic that isn’t doing so well: mortgage applications. 

Oh sure, rates are down, real estate markets are tidy, and there is still a ton of disposable income in the US. Yet, you have a problem. 

Specifically, reaching your target audience with a plethora of mortgage content and marketing strategies isn’t working like it used to. Why? Because prospects are rejecting your strategies. Let’s look forward to more advances in the technology driving our industry in 2023.

 It comes as no surprise that mortgage technology is dominating the mortgage industry with all its advances. 2023 will bring more leads and clients for professionals who choose to automate in 2023.

 New Features: 

In 2022, BNTouch experienced some significant upgrades which made our task management system better than ever before. 

The new features we have been working on are based on customer feedback – so feel free to let us know what you think of the new tasks and issue tracking tools. 

These will help you manage issues with ease while collaborating with your team on projects.

New Features Include: 

• Purchase Analysis 
• Loans with Multiple Borrowers 
• Checklists 
• Email Constructor 
• Scheduled SMS 
• Credit Pulls 
• Email Validation

We’re constantly working hard behind the scenes to roll out new features, so look for some exciting additions in 2023!

What to look forward to in 2023:

•  New exciting AI features
• New integrations
• Improved email tracking
• More productivity tools and enhancements
• Stay Tuned for More

We are excited about the future of our product, and we hope that you are too. We are in the best position to create a stronger, bolder product that impacts our customer relationship management. There is nothing we love more than being able to give our users the best possible experience.

Thank you for your continued support in making BNTouch the best it can be! 

Are you ready to join the BNTouch Family in 2023? Why not schedule a free no-obligation demo today!

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Learn about real estate PPC advertising, including helpful tips and tricks to kick off a successful paid marketing campaign!

The Definitive Real Estate PPC Guide is just one of many great real estate strategies on The Spark

If your real estate email list is dwindling due to unsubscribers, it’s time to take stock of what needs to be changed. There are a few essential keys…

Why Are My Real Estate Email Subscribers Unsubscribing? is just one of many great real estate strategies on The Spark

Imagine Santa’s elves going all out to make your holiday season more cheerful. They decked out your yard to the envy of your neighbors. That hard-to-find gift you’ve been stressing over? Already wrapped and nestled under the tree. Done.

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Social media has proven to be one of the most powerful ways to reach prospective borrowers in 2022, and it will be even more critical in 2023. But doing it with consistency and relevancy is a challenge. We get it.

However, it cannot be ignored. 

Adding our new social media to your marketing stack TODAY will ensure you get the best price on the mortgage industry’s most robust social media marketing service. 

Automated and Done-For-Your Social Media Marketing: Exclusive Sale for the Season!

Helping you leverage social media to make meaningful connections with borrowers and stand out as a local industry leader.

Automated Social Media features:

• Evergreen content — Search-optimized, high-value content
• Diverse Topics— Ranging from consumer tips, loan product info, holiday, and more
• Branded — Graphics are branded with logo and company color scheme
• Landing Pages –Content has dedicated landing page within your LenderHomePage website
• Automated –Posts are automatically shared on company social pages

Done-For-You Social Media features:

• Trending News –Buzz-worthy industry topics and breaking news
• Engaging –Insightful and relevant content that invites conversation
• On-Brand –Graphics branded with company logo, LO profile image, and NMLS #
• Content Library –Access to 100+ share-worthy social posts
• Fresh Content Weekly –New content added 2-3 weekly with email notifications whenever new posts are available.

The Joy Of Getting The Best (at the Best Price!)

Our industry is facing some challenging times, so we want to ensure that you get our most affordable pricing on tools designed to help you win. Don’t miss out! Click below to access our limited-time holiday deal. 

Get “40% Off” Social Media Deal

Customer referrals are one of the best ways to follow up with new leads. People trust the recommendations of friends and family, which could bring these clients to your doorstep by building a lenders referral network. 

A mortgage CRM can help you manage these leads, but it all starts with the right network. Here are five simple strategies to build a strong referral network.

1. Partner with Real Estate Agents

Real estate professionals can be a great way to gain referrals. And it’s a two-way street — real estate agents can introduce you to potential borrowers, and in exchange, you offer affordable loan options.

Using a Mortgage CRM makes the process even easier. Real estate professionals can drop new leads right into your mortgage pipeline. This lets you take advantage of the professional network built by others in your community. In return, you’ll be providing a valuable service of your own, so it’s a win-win.

2. Host an Event

Community events can be a great way to attract interested borrowers. For instance, you might host an event titled “Tips for First-Time Home Buyers.” The registration process is an easy way to grab contact details and other information to follow up on later.

Bonus tip: partner with other real estate professionals to host your event. That way, you’ll get the benefit of each others’ marketing network and it may enhance the event by pooling your community’s knowledge base.

3. Publish Compelling Content

Publishing great content provides a convenient “entry point” in the referral process. 

For example, a person familiar with your services might not necessarily recommend you to their friends directly. But they might say, “Check out this article on refinancing options.” If the person likes your content, they may be more likely to take the next step and use you as their lender.

4. Follow Up with Past Clients

Past clients make the best marketers. Happy customers will tell their friends about their positive experiences and recommend you to other potential customers.

Follow up with your past clients after the first month and/or after the first year. Let them know you still appreciate them. These small points of contact will remind them of their experience and increase the chances that they will mention you to their friends.

5. Create a Borrower Pipeline

What do you do with a referral once you get one? A borrower pipeline will guide your strategy for converting new leads into satisfied clients. With a well-thought-out pipeline, you’ll be able to adjust your efforts to match different stages of the customer journey.

A mortgage CRM platform can help you manage the sales process, addressing the needs of your clients through every step. It will also automate key procedures to make the process faster and more efficient.

Where Can You Find a Quality Mortgage CRM Solution?

Customer relationship management (CRM) software helps you nurture strong relationships. And relationships are at the core of any lending business. The BNTouch platform can help you with marketing, lead generation, and team collaboration.

To learn more, request a demo today!

The post Simple Strategies to Help Lenders Set Up a Strong Referral Network appeared first on .

Rocky Foroutan, CEO and founder of LenderHomePage, was awarded 2022’s Thought Leader by PROGRESS in Lending in recognition of his bold and visionary leadership that continues to advance the mortgage industry.

PROGRESS in Lending issued this honor to executives that demonstrated fearlessness in undertaking new initiatives and embracing creativity, stating, “we need thought leaders that are not afraid to step forward and blaze a new trail. We need creativity. We need bold new ideas.”

Rocky’s passion for innovation is rooted in the idea of “frictionless integration” throughout the entire mortgage ecosystem –from consumer engagement to underwriting to document recognition to APIs.

“I believe more standards for integration and quality control should be set for the industry as a whole, and vendors are to adhere to those so things can go smoother. Innovation is alive in mortgage today.”

Read more on the PROGRESS in Lending website and this year’s full honorees list.