Mortgage Report: Overlap Among Top Ten Consumer Segments for Purchase, Refinance and Reverse Mortgage Loans

September 26, 2018 Charlene Sterphone

Refinance and Reverse Mortgage Loans

Although marketers may think of the target audiences for purchase, refinance and reverse mortgages as being very different from one another, there is significant overlap between the three audiences, according to the Q2 2018 Mortgage Consumer Profile Report , published by Best Rate Referrals.

In Q2 2018, seven consumer segments appeared in the top ten for more than one mortgage loan type, and one of these segments (Neustar segment 75) appeared in the top-ten list for all three mortgage loan types. Here’s a snapshot of the audience comprising this overlapping segment.

  • Average household income of $66,092
  • Average age of 68
  • 12% have children under 18
  • They live in a suburban setting
  • 56% are homeowners
  • 76% Caucasian
  • 56% are retired while 37% work full-time or part-time
  • 40% are college graduates
  • They are online throughout the day and are more likely than average to access the internet via tablets
  • They are active users of Facebook, Twitter and Pinterest
  • They are heavy listeners of news and sports radio
  • They enjoy reading magazines including Consumer Reports, Sports Illustrated, AARP, Reader’s Digest and New Yorker
  • They still read the newspaper almost every day to stay informed, and they also read news online
  • They may have recently acquired high-end vehicles (likely leased)
  • They may be veterans
  • They may have age-related illnesses
  • They may enjoy attending theater productions and classical music concerts
  • They may travel domestically for pleasure

There are several marketing strategies loan marketers may want to test out to target this segment. Local sports and news radio advertising, particularly between 6am and 7pm Mondays through Fridays and 10am to 7pm on the weekends, could introduce loan products and services to this audience. Advertising in local newspapers and through targeted social media ads especially Facebook, Twitter and Pinterest are additional ways to market to and engage with new mortgage prospects. Partnering with local theaters, including advertising in programs and on websites, may also work to connect you with this top-borrower audience while positioning yourself as part of the community.

Audience segmentation, using Neustar ElementOne data, was utilized to define the top mortgage consumer segments identified within the recently published Q2 2018 Mortgage Consumer Profile Report (insert link to form at bottom of page). Audience segmentation is a process that divides an audience file or population into groups (segments) that comprise similar people. Each segment represents a homogenous subgroup with defined, segment-specific characteristics including age, income, media habits, demographics, behaviors, interests and more.

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About the Author

Charlene Sterphone

Charlene Sterphone is a Marketing Manager of Digital Media Solutions (DMS), the fastest growing independent agency focused on performance marketing. Since its inception, DMS has evolved into a full-service performance marketing company that services firms within highly complex and competitive industries including mortgage, education, insurance, consumer brands, automotive, jobs and careers. DMS has achieved incredible year-over-year growth, which has earned recognition on the Inc. 5000 list in 2014, 2015, 2016 and 2017.

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