Effective Marketing Strategies for Mortgage Brokers

by | Jul 5, 2023

In the competitive landscape of the mortgage industry, effective marketing strategies are essential for mortgage brokers to attract and retain clients. But, like most brokers we work with, you probably got into brokering because you love helping people secure finance for property – not being a marketing whizz!

It’s understandable to feel frustrated, overwhelmed or indifferent about marketing your business, but without any sales and marketing efforts at all your business won’t be getting in front of the people who need to hear from you. Even the best word-of-mouth brokers need other sources of leads from time to time!

So, what can you do as a mortgage broker to leverage effective marketing strategies that will enable you to stand out in the market, generate leads and build a successful business?

At Auctus Coaching, we don’t believe that marketing for brokers has to be salesy or spammy at all – which is what most brokers assume they have to be when we start talking about scaling their business.

We are always happy to bust those myths!  Here are 7 effective marketing strategies for brokers…

Develop a Strong Brand Identity

Creating a strong brand identity is the foundation of effective marketing. But don’t over complicate things. Start by thinking about what you want your brokerage to be known for and how you are unique in the market, e.g. are you an SMSF specialist, first-home buyer expert or the go-to broker for tax debt finance? It doesn’t mean you can’t serve people looking for other financial solutions, but it does help to start with focussing on a couple of main services to begin with.

Consistently reflect your brand identity (what you stand for, your values etc.) across all marketing materials, including your website, social media profiles and marketing collateral.

Build an Engaging Website

A professional and user-friendly website is crucial for mortgage brokers – but it doesn’t have to cost the earth or be a 25 page site with videos and flashing lights (we hate those!).

Instead, consider investing in a simple, well-designed site that carries your brand well and will last for the next 3-5 years.

A broker website should showcase your expertise, list your services and show some client testimonials. Most importantly, you need a clear call-to-action (CTAs) to encourage visitors to contact you, or book a time to speak with you.  At Auctus Coaching, we help clients develop simple but functional websites that directly link to their CRM (SalesTrekker) so the first part of the lead generation process is all automated!

(Ask us more about this).

Finally, ensure your website is mobile-responsive, as an increasing number of potential clients search for mortgage services on their smartphones and tablets.

Leverage Social Media

For a lot of brokers, this brings out a sigh or groan of “Do I really have to be doing this online thing? It feels so uncomfortable and is probably time consuming.”

Well, first of all – having some kind of online presence will help future-proof your business – that’s a fact. While we love word-of-mouth referrals for our clients, this isn’t the best long term plan for scaling a business – at some point you’re going to need to expand beyond your existing network if you want to grow.

Plus, the part about being uncomfortable? Well, this comes down to how much you want to see your broker business succeed, because any leader will tell you that success is never cultivated in the comfort zone.

So which social media platforms are right to use? Well, each client we work with has different interests, goals and preferences when it comes to their online presence. But, the main platform we suggest all brokers start with is LinkedIn. Why? It’s a business and professional focussed channel and offers excellent opportunities to connect with potential clients, build brand awareness and ultimately grow your business. Start out by sharing valuable content (yours or other people’s), such as mortgage tips, industry news and client success stories. Then, when you feel more comfortable you can create some of your own pieces of content to engage with your audience . And remember to keep in touch with your audience by responding to comments, questions, and inquiries promptly.

Stuck at where to begin on LinkedIn? We help brokers with exactly this – including a full LinkedIn profile overhaul, establishing unique brand pillars based on your business goals and we even create and publish the content on your behalf! Book a time with us to learn more about this service for brokers.

Develop Strategic Partnerships

Collaborating with other professionals, such as real estate agents, financial planners, buyers agents and accountants can expand your reach and generate referrals. Develop mutually beneficial partnerships where you can refer clients to each other. Participate in networking events, community initiatives, and industry associations to build relationships and establish credibility within your local market.

This can be an online activity too – consider sharing a post on LinkedIn recommending someone in your network or co-writing an article that answers some of your mutual clients’ questions.

Implement Email Marketing Campaigns

Email marketing remains a powerful tool for mortgage brokers to nurture leads and maintain relationships with past clients – but many brokers we work with are initially hesitant to trust that emails are still relevant in today’s busy social media world. While it’s true that there is a lot of noise online – and in our inboxes – email marketing still needs a place in your marketing plan. Remember, the algorithm of Instagram, Facebook, TikTok or any other social media platform can change overnight, or your account can be closed in an instant (even if you did nothing wrong). An email address is a golden piece of customer information that they willingly gave you (by opting in to your newsletter or by some other means). So, use it wisely!

Build your engaged email list by offering valuable resources, such as mortgage guides or industry updates and ensure you remain top of mind with your audience. Segment your email list based on client preferences and demographics to deliver targeted content and personalised / seasonal offers.

Pro tip: Setting up your SalesTrekker CRM and email marketing tool (like ActivePipe) can be a game changer for brokers looking to really scale their business through automation. Ask us how we help our clients to send automated messages and reminders, for things such as end of fixed interest rate period notifications.

Provide Exceptional Customer Service

Word-of-mouth referrals are invaluable for mortgage brokers. Providing exceptional customer service not only leads to satisfied clients but also increases the likelihood of referrals and repeat business. Maintain open lines of communication, promptly respond to client inquiries, and go the extra mile to exceed expectations. Encourage satisfied clients to leave reviews and testimonials, which can further enhance your online reputation.

While this might seem a given, you’d be surprised how many times we hear from clients that they let warm leads go cold because they didn’t know how to manage them effectively. Again, this is where automation can be your friend. A welcome email, with a calendar booking link sent automatically to all new leads can easily alleviate this problem.

As customers in all industries are getting more savvy and discerning, it will be the brokers who create memorable and positive experiences for their clients that will succeed.

Track and Analyse Marketing Efforts

The numbers don’t lie! Monitor and analyse the performance of your marketing campaigns to identify what works best for your brokerage. Utilise website analytics, email marketing metrics and social media insights to understand your audience’s preferences and behaviors – and double down on the areas that are working. Adjust your marketing strategies based on data-driven insights, focusing on channels and tactics that generate the most leads and conversions.

Ready to boost your mortgage brokering success with powerful marketing strategies? Auctus Coaching can show you how — book your discovery call with Christian Paterson today or fill in this online form for more information.

Disclaimer: The content of this article is intended for educational purposes only and should not be considered as professional financial advice. It is crucial to seek personalised financial, legal, and tax guidance before making any decisions based on this information. The author shall not be held liable for any losses or damages incurred due to reliance on the content presented.

Christian Paterson, Auctus Coaching

Christian Paterson

Director, Head Coach

I love nothing more than helping hardworking brokers to work smarter and enjoy their business while growing an incredibly profitable and efficient operation.