“How can I stay relevant to past clients to drive referrals and repeat business?”
That’s a question successful loan officers ask themselves on a regular basis. Top-notch customer service, industry knowledge, and excellent communication skills — many factors differentiate one loan officer from the next. However, there’s one thing most everyone in the industry will agree on: it’s all about building solid relationships and providing value to clients. This makes it especially important for loan officers to invest in marketing channels that help them do just that.
Loan officers have tried everything from traditional advertising to digital methods such as email and social media marketing, all in an effort to grow their business. But what’s most effective?
To answer that question, we went straight to the source. We asked 140+ mortgage loan officers how they find new business.
To see a detailed breakdown of the results and recommendations based on how agents responded to our ten question survey, click here and fill out the form for free access to the full report.
Get the full report: 2017 Mortgage Marketing Benchmarks Report.
Loan officers want referrals.
- 87.9% of loan officers said that referrals from current clients are one of their most successful marketing tactics.
- 41.9% of loan officers would invest in referrals if they had extra budget for marketing.
- 47.4% of loan officers do not spend any money on referrals (per month).
Loan officers also want leads.
- 26.3% of loan officers said that lead generation is the most important reason to stay in front of their network.
- But only 16.4% of loan officers said they have has success with purchasing leads.
- However, purchased leads are the #1 item loan officers spend $500+ a month on.
What’s Inside the Report?
- Key Takeaways
- Top Marketing Areas of Focus for Loan Officers
- Biggest Marketing Challenges for Loan Officers
- Most Successful Marketing Tactics for Loan Officers
- Loan Officer’s Monthly Spend by Marketing Channel
- Where Loan Officers Would Spend Extra Dollars
- Why Being Remembered Counts
- The Best Kind of New Business
- Favorite Online Marketing Channels
- Key Stats by Topic
- Bylines & Methodology
Today, there are more options to market and promote a mortgage business than ever. Knowing this, we set out to report on where loan officers are spending their marketing dollars and which channels are most effective at bringing them new business — here’s what we uncovered.