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Understanding the Digital Economy in 2021

Understanding the Digital Economy in 2021

Understanding the Digital Economy in 2021

Online competition among mortgage lenders is growing, but you can stand out if you understand the mindset of today’s prospective borrowers. In 2021, consumers are used to getting what they want when they want it. In fact, it can take seconds after someone lands on your website to make a first impression. If you don’t capture your prospect’s attention immediately, then they’re as good as gone.

The good news, however, is that many mortgage businesses make the mistake of trying to flood consumers with useless information in an attempt to demonstrate expertise right off the bat. Fortunately, you can take advantage of your competition’s errors by engaging with mortgage prospects on their terms.

To create customers for life and set your mortgage business apart in 2021, use the two strategies below.

1. Personalize Your Advertising

An efficient sales process starts with excellent market research, so you want to know as much about your target customer base as humanly possible. Do you specialize in jumbo mortgages for luxury homebuyers, or are you looking to target first-time homeowners that need to refinance?

Putting yourself in the shoes of your ideal customer will help you figure out how to build rapport fast and deliver a solid “hook” that gets their attention and moves them to the next step of the sales funnel. If you’re advertising to a more affluent prospect base, for example, then you may want to include pictures of large estates in your company brochure. By contrast, a target customer base that’s had some credit problems in the past may respond better to an eBook that talks about flexible down payment terms.

2. Develop a Dynamite Follow-Up Sequence

It’s pretty rare that a prospect will just go ahead and say “yes” the first time you show them an offer. People want to do a lot of research before they make a commitment to a mortgage lender, and one of the most important things they want to know is whether or not they can trust you. Therefore, you should expect all of your customers to look for any complaints or negative reviews that they can find about your business.

To help handle potential objections ahead of time, invest the time and effort it takes to craft an engaging email sequence that features testimonials from satisfied customers. For the best response, include glowing reviews from previous customers that match your target prospect as closely as possible.

In addition, don’t be shy about reaching out to leads on social media. Lots of high-quality prospects would be flattered if you sent them a direct message on Facebook or LinkedIn, and taking the initiative can help position you as an expert.

In Conclusion

Differentiating yourself in the mortgage industry is all about adding a personal touch. If you can help your prospects feel valued, then you’ll be well ahead of nearly every competitor you have. As you dial in your sales process, don’t be surprised if you start getting a flood of referrals too.

Have questions?  Speak to an expert for more information.

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