You watched the tutorials, read the how-to’s, and boosted your top Facebook posts for several weeks now. Yet still, your mortgage marketing efforts have failed to produce results. Truth be told, marketing is partly an experiment, and sometimes, a particular marketing campaign just doesn’t work. However, there are plenty of instances where marketing campaigns fail when they shouldn’t have. 

Read on to learn the most common reasons mortgage marketing fails –and what you can do about it!

Tops Reasons That Mortgage Marketing Strategies Fail

Unclear Objective Or How To Measure It

The first common mistake made in mortgage marketing is not defining the objective or having too many objectives on a single campaign. Along the same lines is failing to determine whether meeting just one of those goals equates to success or failure. 

The best marketing campaigns have a single measurable objective that allows you to develop a plan and outline what success looks like. While being stringent about your objective can seem counterintuitive (being flexible will widen the possibilities, right?), the opposite is true. As it goes with any life’s goal,  determining the goal and what success looks like will make it more likely that you’ll achieve it. 

Application: A brokerage is expanding and is now licensed in a new state. They want to launch a campaign to create awareness of their brand and service to the new market (objective). They decide to run a video marketing campaign featuring high-value mortgage content discussing the buyers’ needs in that specific market. The video ads are set to run in their target location. Success is measured by video engagement, such as liking, sharing, commenting, or following. 

Undefined Calls To Action

A call-to-action (CTA) lets the consumer know what to do next. After engaging with your ad, the prospect’s next logical question is, “now what?” Your CTA answers the question by telling them what to do next. 

If your CTA is weak or missing altogether, your prospect won’t move forward. Likewise, if you have too many CTA options, they’ll be confused and are less likely to take any action.

Remedy this by establishing a single and well-defined CTA. Make sure the CTA is easy to find, and the task is simple enough for them to complete without challenges. 

Application: An LO is running ads on Facebook to generate more leads. She pairs the smartly worded copy and attractive graphic with a CTA that says “Learn More.” Clicking through, the prospect is taken to a landing page with a few bullet points on the loan product and adds more sizzle with an offer (aka, the solution). She then has another CTA, “Your Homebuying Journey Starts Here,” with a simple lead capture form below. 

Read this previous post for the Ultimate Call-To-Actions for Mortgage Pros

Insufficient Budget

The thing about setting a marketing budget is that it typically isn’t set at all. Like any other business expense, a marketing budget should be based on a percentage of the revenue. But all too often, companies will base their marketing budget on what they feel comfortable spending. The problem with not putting enough money to finance your marketing could mean not running your ad long enough or not reaching enough people to see results. 

Application: One way to set your marketing budget is to review past revenue sheets and set aside a percentage for marketing. Allocating between 6.5% to 8.5% is the norm for established businesses. If your business is less than five years old, consider spending 10% to 12%. 

Read this previous post on Reducing Loan Production Costs by 50%!

Relying On LOs or Interns To Do The Work

As mentioned earlier, marketing is partially an experiment, but handing off the experiment to a novice will make it doomed to fail. It’s also costly. So while there’s no guarantee that a particular campaign will succeed, a professionally crafted campaign based on metrics, solid theory, and past successes will likely yield positive results. 

Application: Employ either an in-house marketer or hire a mortgage marketing agency to handle the planning and undertaking of the overall campaign. Social media marketing, creative, paid ads, video creation, and SEO content are critical marketing elements requiring professional development and execution. When it comes to the finer aspects of marketing, like building relationships and nurturing leads, let your LOs take the lead on that. 

Read this previous post on Increasing LO Volume By Freeing Them From Marketing Responsibility

Customer Experience Is Subpar

Sometimes a business will think that the marketing campaign failed when in reality, it was the experience after the fact that was unable to get results. Challenging to navigate POS, a digital 1003 that isn’t mobile responsive, or an LO that didn’t respond to the lead fast enough are possible reasons outside of marketing that could make it seem as if your marketing isn’t working. 

Remember that no amount of marketing will fix poor business operations or customer experience. 

Application: If you haven’t already refined your digital mortgage transformation, do it now before adding any more money to your marketing budget. Your website, digital application, POS, mortgage mobile app, and every element in between must be working at the highest level of performance in both consumer and business-facing processes. 

Read this previous post on Mortgage Touch Points and Creating An Exceptional Customer Experience Through Digital Means

Ready to level up your mortgage marketing and customer experience? Contact us today to learn more about our stackable digital mortgage tools and services –everything you need to grow your business in any market. 

Schedule a Demo

Successful search marketing requires thoughtful coordination between diverse teams responsible for SEO, PPC, content, data, and beyond. One key to nurturing that coordination is a shared training experience that gets teams on the same page, speaking the same language, and working towards a shared vision of success.

Sign your team up for their choice of SMX Master Class – happening live online March 8-9 – to sharpen skills, broaden horizons, and learn actionable tactics that drive measurable results… and save up to 20% off while you’re at it!

With seven unique, expert-led courses to choose from, the learning combinations are endless. Attend the same class to unify and bond – or attend different classes to dive deep into respective disciplines and report back with armloads of insights and next steps.

• Advanced SEO training with Bruce Clay
• Advanced Google Ads training with Brad Geddes
• Advanced technical SEO training with Eric Enge
• PPC landing page optimization training with Brian Massey
• Google Analytics 4 and Data Studio training with Colleen Harris
• SEO-friendly content marketing training with Michael Brenner
• SEO for developers training with Detlef Johnson

Each Master Class is $249 per person – but the bigger your team, the bigger your savings:

• Groups of 3-5 save 10%
• Groups of 6-11 save 15%
• Groups of 12 or more save 20%

No matter your setup or schedule, attending as a team is a win-win:

• Still working from home? Training together (albeit virtually) with your colleagues will foster a feeling of camaraderie that’s essential to high-performing teams, especially remote ones.
• Back at the office? Embark on an invaluable shared learning experience that will fuel creative brainstorms and collaborative projects for months to come.
• Can’t attend live? All Master Classes will be recorded and available for on-demand replay until May 9 – giving you plenty of time to watch and rewatch for deeper learning.

Don’t miss this unique opportunity to transform your team into a veritable search marketing Swiss Army knife. Email registration@thirddoormedia to receive your exclusive group discount code and get your team signed up today.

The post Teams that train together, win together. Send your team to SMX! appeared first on Search Engine Land.

Google has updated its Buy on Google Retailer Standards policies. The changes include removing: order caps, automatic suspension via the Retailer Standards program and the “Defects” tab within the Merchant Center dashboard.

Tip of the hat to Lawrence Chasse for bringing this to our attention.

Why we care. Order caps were previously imposed on merchants that were performing poorly (according to Google’s Retailer Standards score); the same was true for automatic suspensions. Order capping could also slow down sales for new merchants until they complete onboarding by requesting a review of their store. 

Now that these two penalties are gone, merchants have fewer potential bottlenecks when it comes to selling via Buy on Google.

However, these policies were designed to protect customers (as well as Google’s reputation as a shopping platform) from disreputable merchants. Google has yet to reveal what new safeguards it’ll put in place (if any) to ensure a consistent, positive Buy on Google experience.

What’s changing. In the email notification sent to merchants, Google said it will:

• Stop order capping and automatic suspensions via the Retailer Standards program.
• Remove the ‘Defects’ tab from the Retailer Standards tab in your Merchant Center account.
• Stop sending Retailer Standards monthly emails.
• Roll out a new page to display order performance at some point in the future.

Why Google made these changes. “We’re making these changes to help you succeed on Google while ensuring our policies keep up with Buy on Google’s evolution,” Google said in the email.

The post Buy on Google gets rid of order caps and automatic suspensions appeared first on Search Engine Land.

The stakes are high for marketers today to adapt and scale their operations. Trends like the hybrid work shift and the looming metaverse have cemented our digital reality while workforce and customer demands continue to escalate and create new challenges. As a result, it’s never been more perplexing for CMOs to manage and grow their organizations effectively.

Yet, many do not realize there is one overlooked issue that’s seriously costing their organizations—one that, if addressed, could significantly enhance their business: poor communication.

That’s what new research by Grammarly and The Harris Poll found. The “State of Business Communication” survey of business leaders and knowledge workers reveals that poor workplace communication is a pervasive problem burdening businesses and employees alike. In fact, the study estimates a $1.2 trillion annual loss among U.S. businesses due to poor communication—or approximately $12,506 per employee every year.

The findings are especially relevant for communications-heavy teams like marketing as they engage with each other, buyers, and customers across new digital touchpoints and channels. And while the cost alone is staggering, the findings go much deeper—illuminating the far-ranging impacts of ineffective communication today and the need to fundamentally rethink productivity and engagement in the workplace.

Let’s take a closer look at what the research reveals and the implications for marketers to succeed in the next era.

Boost productivity and profitability with effective communication

Effective communication across teams, customers, and prospects is essential as workplace demands evolve. Nearly all business leaders surveyed (93%) acknowledge that effective communication is the backbone of their business. From emails to documents to pings, employees report spending almost 20 hours a week (19.93) on written communication alone—or half of the typical 40-hour workweek. 

At the same time, the research suggests poor communication is rampant in the workplace—with direct effects on business results. Nearly three in four business leaders (72%) say their team struggled with communicating effectively over the last year. Moreover, they estimate teams lose the equivalent of nearly an entire workday each week (7.47) due to poor communication issues such as resolving unclear communications or following up on asks.

That’s up to a fifth of employees’ time that they could reclaim with better communication. The consequences of not addressing the issue are significant: Over nine in 10 business leaders say poor communication impacts productivity, morale, and growth, citing impacts such as increased costs, missed or extended deadlines, and reputational erosion. One in five leaders even reported losing business or deals due to poor communication.

As CMOs look to scale, overcoming the impact of poor communication is pivotal to achieving growth and profitability.

Deliver an exceptional employee experience with better communication

Beyond the direct cost benefits, the indirect advantages of improving communication are just as critical to business success.

In particular, leaders have a new urgency to improve the employee experience as record numbers of workers continue leaving their jobs. The Grammarly and Harris Poll data shows most business leaders (57%) cited employee satisfaction and retention as a top priority this year, even ahead of team productivity and customer satisfaction.

But the findings also reveal links between poor communication and employee morale and turnover. The majority of employees (86%) experience communication issues at work, and they report increased stress as the top impact. Those experiencing miscommunications multiple times a day are more likely to feel stressed. Leaders reporting higher employee retention are also more likely to have better communication.

Any breakdowns in the communication process slow down and frustrate employees, with domino effects on productivity, engagement, and the customer experience. As workforce needs continue to evolve, improving communication with greater clarity and empathy and nurturing confidence among employees are imperative.

Harness new tools to underpin the digital workplace

Nearly two years into the shift to remote and hybrid work, teams still don’t have the tools they need for success in a digital environment. Despite all the time they spend communicating, the research shows leaders (88%) and employees (63%) alike wish they had better tools to communicate effectively.

In particular, written communication takes up much of employees’ day-to-day. Over half (57%) say they communicate in a written format most of the time, and email remains the most popular and preferred method, ahead of virtual video meetings and text-based chat. Teams may also be interacting more than leaders even know: They estimate their teams spend 29% of their time collaborating with others when employees say it’s nearly half their time (49%).

A more dispersed workplace creates more opportunities for misunderstanding, and CMOs must rethink technology investments to equip teams to stay in sync and productive. AI and automated technologies are available that can help augment and optimize teams’ communication in all the places they’re already working. Platform-agnostic solutions, like AI communication assistance from Grammarly Business, integrate into existing systems and channels to enhance the quality and efficiency of communication across the board.

By revisiting lagging technology, CMOs can recapture the time lost to poor communication while delivering more impactful engagement with customers and employees.

The bottom line

Now more than ever, effective communication is the linchpin of organizations that can determine their performance. CMOs can no longer afford to ignore the cost of poor communication—those that invest in building better practices, bridging communication gaps at every level, and empowering teams with the right tools will see their businesses reach new heights.

________

The “State of Business Communication” report is based on a survey conducted online by The Harris Poll in October 2021 among 1,001 knowledge workers and 251 business leaders in the U.S.

For complete methodology and more findings on the high cost and business impact of poor workplace communication, download the report, “The State of Business Communication: The Backbone of Business Is Broken,” and visit www.grammarly.com/business. 

This article was written by Dorian Stone, head of organizations revenue, Grammarly.

The post The cost of bad communication is skyrocketing — what CMOs need to know appeared first on Search Engine Land.

Lead generation helps loan officers to find new clients. While your marketing and customer service should be designed to bring in more leads, don’t forget about the power of positive customer testimonials. 

Potential clients trust the opinions of established customers more than marketing. Almost all potential clients will search for testimonials and online reviews before they do business with a company. This is especially true in the world of financing. After all, many homebuyers rely on lenders to help them make the largest purchase of their lives.

In this guide, we’ll discuss some of the best ways to use testimonials to get new leads for your brokerage. 

Build Customer Rapport

Everything begins with positive customer relationships. Start by asking your long-time customers or ones who consistently express positive feedback to give feedback. 

You can even gather feedback and reviews from newer clients. However, it’s essential to develop and build rapport with your customers before you ask them for a review. Once you’ve earned their trust by delivering consistent, high-quality service, it will be incredibly easy to ask for feedback. 

When customers rely on your services and trust your company above competitors, they will be eager to tell family and friends about you. With this information in hand, you can move on to the next step: Spreading the word.

Sharing Testimonials to Get New Leads

More than half of all homebuyers say they would contact a brokerage based on reviews posted by previous customers. If you’re not already using social proof to boost your marketing efforts, it’s time to start. 

Loan officers should make it easy for new leads to view and access feedback from established clients. You can publish this feedback on your website and social media channels. 

In addition to formal reviews and testimonials, your digital marketing should highlight positive results and experiences with your clients over the years. One simple way to do this is to share pictures taken with clients at their closings. Post these pictures on your social media accounts with a note of congratulations and make sure to tag the buyer and their agent in your post!

If possible, select a featured customer success story that will appeal to your target audience. For example, if you want to work with more VA buyers, you can share feedback from a veteran you’ve helped recently. Want to target first-time homebuyers? Share a story from someone with a unique first-time experience.

The Right Tools Can Help

Positive online testimonials work like a lead generation engine. They can boost your advertising efforts! Leads keep mortgage brokerages in business. Every positive customer experience should result in a great review and a few new leads. 

With a powerful mortgage brokerage CRM, you can request feedback, share testimonials, develop ad campaigns, and more. Want to learn how to publish testimonials to improve your marketing efforts? Curious what a high-quality CRM can do for your business? Contact the team at BNTouch to schedule a free demo today.

The post Spreading the Word: How to Use Testimonials to Get New Leads appeared first on .

Google has begun rolling out the page experience update for desktop web pages and desktop search, a Google spokesperson has confirmed with Search Engine Land. This update will slowly roll out over the next several weeks and be completed by the end of March 2022.

Google did tell us that the desktop version of the page experience update would begin this month and now Google has confirmed it has begun rolling out.

Page experience update for desktop. This update will include all the current signals of the mobile version of the page experience update, outside of the page needing to be mobile-friendly. Google said all of the page experience factors for mobile will be included with the exception of the mobile-friendliness requirement, which is kind of obvious. Here is a chart Google designed showing the specific factors:

What is page experience? Google has a detailed developer document on the page experience criteria but in short, these metrics aim to understand how a user will perceive the experience of a specific web page: considerations such as whether the page loads quickly, if it’s mobile-friendly, runs on HTTPS, the presence of intrusive ads and if content jumps around as the page loads.

Page experience is made up of several existing Google search ranking factors, including the mobile-friendly update, Page Speed Update, the HTTPS ranking boost, the intrusive interstitials penalty, safe browsing penalty, while refining metrics around speed and usability. These refinements are under what Google calls Core Web Vitals. Please note, Google dropped the safe browsing factor last year from the page experience update.

Search Console tools. Google has released updated page experience reports for desktop a few months ago. You can learn more about that report over here.

Don’t expect drastic changes. Google said with this rollout and this new Google update, do not expect drastic changes. “While this update is designed to highlight pages that offer great user experiences, page experience remains one of many factors our systems take into account… Given this, sites generally should not expect drastic changes,” said Google. We expect the same to be true for the desktop rollout.

Why we care. While, I do not believe this page experience update will be a significant update where you will see tons of sites see their rankings drastically change, those working towards improving their page experience have been primarily focused on their mobile pages.

I would not expect major ranking shifts from this rollout and in fact, if you do see ranking shifts today or tomorrow, I would highly doubt it is related to this update.

The post Google page experience update for desktop now rolling out appeared first on Search Engine Land.

Auto-apply recommendations in Microsoft Advertising are now out of beta and generally available, the company announced Monday. By default, advertisers are opted into all five of the platform’s recommendation types (more on that below).

Why we care. Microsoft Advertising first launched this feature in beta in March 2021 and now it’s widely available, which means it can potentially help more advertisers save time when creating ads or optimizing their campaigns.

While opting into auto-apply recommendations won’t increase your budgets, it’s still authorizing the platform to make changes on your behalf, without your involvement. Advertisers should assess whether that’s acceptable for them and opt out if it’s not.

Five types of recommendations. Microsoft Advertising currently offers the following auto-apply recommendation types:

• Create Expanded Text Ads.
• Create Responsive Search Ads.
• Create multimedia ads.
• Remove negative keywords conflicts.
• Fix conversion goal setting issue.

Advertisers are opted into all five recommendation types by default; opting in does not increase budgets.

View scheduled recommendations. Recommendations that will automatically apply are viewable in the “Scheduled to auto-apply” section of the Recommendations page.

The cards in this section provide a short description of the potential issue, the date the recommendation will be automatically applied, and advertisers can also view the recommendation from this card.

Email notifications can be enabled for recommendations by switching on the “Ad performance optimization” email preference for all account managers. Recommendations are automatically applied seven days after the email notification is sent.

Reference recommendation history. Advertisers have two ways to keep tabs on applied recommendations:

• The Change history page – Select “Recommendations auto apply” in the Change history page to show changes made by auto-apply recommendations within a given timeframe.
• The clock icon – Click on the clock icon that appears in the top-right corner of the Recommendations pages to view your applied recommendations history. Select the “Auto applied” tab to see the auto-apply history for the previous 30 days.

Opt out. Advertisers can opt out at any time by navigating to the auto-apply recommendation control center (the thunderbolt icon on the top-right side of the Recommendations page, shown below).

From there, uncheck each recommendation type that you don’t want to automatically apply. Note: These recommendations can still be manually applied in the future.

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