Although influencer marketing has proved to be one of the most effective and cost-efficient tools for brands, digital marketers have slowly adopted it for mortgage products. But with the right influencer, content, and campaign management and analysis tools, plenty of mortgage industry professionals have seen success.
Learnhow influencer marketing can boost your mortgage brand’s visibility, reach, trustworthiness, and profits and join the 93% of salespeople who have seen an increase in their sales thanks to social selling.
Expand your reach
Influencers who share a target market with your mortgage brand can provide access to new audiences that might otherwise be turned off by an onslaught of advertising on their feed. Trust in influencers is akin to word-of-mouth in terms of referrals and reviews, especially for non-celebrity accounts.
Need an example? Consider hosting a drawing for video testimonials from satisfied clients, like NFM Lending did on Instagram, to gather user-generated content.
Boost brand awareness and social proof
Marketers looking to build credibility and brand awareness can capture testimonials from satisfied customers on social media. They can find these sentiments through social listening or by using an advocate marketing solutiony to capture positive reviews on sites like Yelp, Zillow, and LendingTree.
Using testimonials from real people — especially when captured on an influencer’s social — can help others learn about your mortgage products and the quality of the service you provide while providing social proof.
Check out this client testimonial on Mortgage Delivery Guy’s Instagram. To boost credibility, the testimonial includes the client’s first and last name.
Build authority
Not all influencers have to be clients. Employees can serve as promoters by educating potential customers about the property-buying process to build your brand’s authority on social media with a clear and authentic voice.
Curious what that might look like? Check out this video on The Mortgage Nerd’s Instagram,in which a loan officer who had recently joined the team talks about the benefits of working for the company. She touches on the advantages of having a support team, technology, weekly coaching, performance skills training, marketing, and CRM tools, among others. It’s a selling point for homebuyers in search of a fully staffed and equipped lender.
Reduce ad and creative spend
The time and money that mortgage product marketers spend creating content accounts for a huge chunk of their budget. Influencer marketing allows teams to tap into the talents of content creators to beef up their assets while also reducing their ad spend.
Looking for an example of sample content created by someone other than the lender? Check out this TikTok video from Las Vegas creator Sierra as she takes viewers on a house-hunter series. The video is clearly labeled “ad” as it was sponsored by her lender, Navy Federal Credit Union.
@iamsierrared #AD #NavyFederalPartner We’re back with part 2 of our house-hunting series with @NavyFederal. For our family, who has spent 11 years in the military, this journey has been a mix of valuable experiences and unforeseen challenges. Having purchased two homes and currently acquiring another, we’ve learned some vital lessons we wish we had known beforehand. 1. Understand your loan! While there are many loan types for purchasing real estate, many military families find that a VA loan is a favorable choice in their home-buying journey. Benefits of VA loans include lower and competitive interest rates, no private mortgage insurance, more flexible credit requirements, no down payments in some cases, and more. Understanding VA loans is integral to the buying process for military members and Veterans. 2. Your real estate team makes a difference in the purchase process. The best thing we did was understand that every team is not created equal. Working with a real estate agent familiar with V A loans and a lender specializing in them makes all the difference in the purchase process. You will want a team that understands your needs and has your best interest at heart to maximize your VA loan benefits and get you into your new home with minimal stress. 3. Budget for hidden costs. A credit union like Navy Federal Credit Union on our side exponentially made a difference in budgeting and saving for each home venture. For us, it was comforting to know that 24-hour online, mobile and phone, as well as in-person services at a local branch were available every step of the way—from the home search to closing and beyond. Understanding your complete financial picture is crucial to avoid financial strain down the road, and having a credit union like Navy Federal as your financial partner offers peace of mind during one of the most important purchases you will ever make. #lasvegas #lasvegaslocal #movingtolasvegas #lasvegastiktok #militaryfamily #militaryhomeownership #navyfederalcreditunion #tiktokpartner #lifeontiktok
♬ Moment 4 Life - Nicki Minaj
Generate leads and drive conversion
Influencer marketing isn’t just great for boosting a lender’s reach, authority, brand awareness, or digital assets. With the right content creator, you can design a campaign that actually generates leads and drives conversion.
By reaching consumers at various touchpoints of their buying journey, marketers have multiple opportunities to engage with their audience based on their wants, needs, and intentions.
How might this look for a company that offers mortgage products? Instagram influencer Cori Scherer created this video for Australian-based financial advising company Navigate Financial, which specializes in providing debt and mortgage advice. The sponsored content was designed to speak to consumers looking to get their finances in order by working with a personal advisor for a low monthly subscription-based rate.
The company works to help people organize and plan their finances for things like real estate investing and mortgage reviews. The influencer content included a free giveaway for financial consulting subscriptions for those who followed Navigate Financial online and tagged three friends, with a CTA bonus of 10 entries for booking a free intro call with the company within two weeks.
Launching a campaign
Be sure to stay informed on regulations regarding influencer marketing within the financial services industry. To prioritize compliance, you’ll want to speak to an expert on consumer endorsements and proper disclosures in social marketing, many of which can be found in the Consumer Financial Protection Bureau’s Regulation N.
For marketers who don’t have the time to search for mortgage influencers online, consider tapping into an influencer database to quickly find and hire influencers. Filters allow you to search with various criteria, such as follower count, location demographics, and tags, and you can read about the creators’ deliverables and channels. You can also chat with our team to see how you can leverage influencer marketing for mortgage products.
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