How Mortgage Marketers Are Leveraging Digital Strategies To Engage High-Intent Borrowers

The growing number of consumers engaging in online activity has touched every phase of the mortgage process from research and loan inquiry to documentation processing and closing. According to data from leading mortgage technology platform Ellie Mae, since 2011, the share of consumers completing milestones related to the mortgage journey online has jumped from 52% to 92%. The growth in reliance on digital tools and online research for mortgage solutions among consumers was accelerated by COVID-19. With the combination of stimulus checks, tax refund season, peak homebuying and a projected 13 million consumers who could still qualify for refinance loans, mortgage origination volume is projected to remain high. 

Mortgage lenders and banks that have embraced digital marketing channels have been able to successfully connect with high-intent borrowers seeking mortgage loans. Mortgage brands Cardinal Financial, Caliber Home Loans and Guaranteed Rate are deploying the right messaging on their first-party channels to connect with homeowners interested in refinancing to save on monthly expenses, change their loan terms or cash-out with equity extractions. 

Cardinal Financial Leverages Content Marketing To Educate Borrowers On Relevant Mortgage Questions

Cardinal Financial describes itself as an innovative lender dedicated to reimagining the mortgage industry. Cardinal’s core values of simplicity and authenticity resonate strongly with younger consumer segments. Cardinal Financial leverages its blog to deliver useful insights and resources relevant to prospective refinance loan borrowers. In addition to simple, effective and resourceful content, Cardinal Financial uses inclusive imagery that represents the diverse segments of homeowners who may be seeking refinance or purchase loan information. As a brand that prides itself on its commitment to modernization and innovation, Cardinal Financial integrated its content marketing into its social media strategy, promoting engaging refinance and purchase loan content across its Twitter, Instagram and Facebook pages. 

Caliber Home Loans Website Creates A Seamless & Positive User Experience For Homeowners Seeking Refinance Options

Caliber Home Loans optimizes the consumer experience by maintaining a simple and effective website that aligns with the needs of borrowers from all age segments. Direct messaging and inclusive imagery are clearly designed to make older homeowners feel more comfortable connecting with Caliber online, but the company doesn’t assume all seniors feel tech-savvy. At the top of its home page, Caliber promotes two calls to action to prospective borrowers: “get a refinance quote” and “get a call back.” With two distinct options to engage, Caliber tailors its approach to younger borrowers who have a greater propensity to submit inquiries online and Baby Boomers who are more likely to prefer speaking with representatives over the phone. 

Guaranteed Rate Inspires Purchase Borrowers To Believe Anything Is Possible

Guaranteed Rate is known for its customer-centric approach. Founded in 2000, with a commitment to social responsibility and a youthful approach to homeownership, Guaranteed Rate deploys a mortgage marketing strategy that strongly resonates with Millennial borrowers. The idea of “possibility” is ingrained in all areas of the brand’s online presence. In February, Guaranteed Rate launched the “Believe You Will” campaign with a 60-second spot during the Super Bowl. With an all-star lineup of athlete brand ambassadors, Guaranteed Rate is connecting with younger consumers inspired by positivity who want to achieve the dream of homeownership. Since launch, the “Believe You Will” campaign has become flagship content for the lender’s social media pages. Guaranteed Rate chief marketing officer Steve Moffat said, “At Guaranteed Rate, our core values are rooted in the power of belief and positive thinking, to achieve audacious goals. We found remarkable stories of people who believed in their abilities to overcome challenges and achieve their goals. We hope that people around the world will be inspired by these stories and will believe that they too can achieve great things.”

Guaranteed Rate promotes a suite of digital tools designed for their younger demographic, including its GRaffordable loan-finder service, a home valuation tool and a home affordability calculator to help borrowers understand the mortgage process, determine affordability and connect with originators quickly. Also catering to values of frictionless online experiences and efficiency, Guaranteed Rate entices young homeowners with its FlashClose program which promotes a seamless, digital and timely loan experience. 

Mortgage Marketers Must Optimize First-Party Digital Channels To Connect With Borrowers

COVID-19 was the catalyst for a major surge in time spent online and a newfound reliance on virtual tools. As a result of the global pandemic, even more consumers are likely to leverage technology when initiating their mortgage process. From initial search to closing loan documents, nearly the entire mortgage process has evolved and transitioned to the digital landscape. Homeowners from all age segments are using mobile and desktop devices as their primary tools to research refinance loan programs, learn about the benefits of refinancing, identify originators and lenders, submit inquiries and complete loan applications. To effectively engage and convert diverse audiences, mortgage marketers need to prioritize digital presences and establish positive online user experiences that align with the unique needs and value of each audience age demographic. Smart digital tools, educational content marketing, effective website design and clear calls to action all contribute to an increase in engagement and mortgage application volume. 

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Digital Media Solutions

Digital Media Solutions, Inc. (DMS) drives better business results by connecting high-intent consumers with advertisers across our core verticals; Insurance (auto, home, health), Education and Consumer/Ecommerce. Our innovative solutions help consumers shop and save, while helping our advertisers achieve above average return on ad spend. Learn more at https://digitalmediasolutions.com.