If you’re a broker looking to set yourself apart from the competition, consider investing in digital marketing. We understand you’re a broker and not a social media manager, which is why we here at Vaster Capital have compiled the top 10 digital marketing tips for brokers to help you grow your business.
Why Should Brokers Care About Digital Marketing?
We know what you’re thinking: As a broker, your time is best spent on your clients rather than on digital marketing. And while this mindset is understandable, it’s important to understand the context of the current market and society that we live in today. In 2021 it simply does not matter what industry you’re in -- you need to care about digital marketing. This rule remains true for brokers in the real estate and mortgage industries.
The COVID-19 pandemic has accelerated a longstanding shift towards a more digital sphere. These days, it may be more difficult for brokers to meet with potential clients in person. As a result, brokers need to change their approach and overall mindset to account for this shift. So instead of going out there and handing out business cards, you should consider a more digital process that involves custom web pages, social media profiles, search engine optimization strategies.
Top 10 digital marketing tips for real estate and mortgage brokers
Tackling the digital marketing world can be tough for real estate and mortgage brokers. Here are ten effective tips that you can use to reach the right people with the right content to boost awareness, engagement, and conversions:
1. Choose your target audience
Before you begin your digital marketing strategy, you first need to choose your target audience. One of the best targeting methods involves geofencing. This allows you to target people based on their geographic location. As a result, you can effectively reach local people to your firm within a market that you’re familiar with.
In addition to geofencing, there are other ways that you can target an audience. For instance, you can target people based on demographic factors, interests, or even life events. To achieve the best results from your digital marketing strategy, it’s a good idea to develop a customer persona that includes more detailed information about the likes, dislikes, wants, and fears of your target group.
2. Utilize content marketing
If you want to get your name out there and earn a reputation within the community and industry, you need to focus on content marketing. One of the best ways to do this is by writing “sponsored” or “guest” posts published on reputable platforms in exchange for a fee. For instance, you can write about the mortgage or real estate industries on platforms like Forbes, Entrepreneur, or LinkedIn.
When writing, make sure that your content is unique, engaging, and helpful. Write about subjects that your target audience will want to learn about and post them in locations they already visit. As a result, you can generate leads and boost brand awareness.
3. Develop engaging media
While writing content is great, you need to take a more diversified approach for an effective digital marketing strategy. Developing media content like photos and videos is a great way to set yourself apart from the competition, solely focusing on written content.
If you’re a real estate broker, you can take quality pictures of your current listings to promote them. Better yet, you can do video tours to give prospective buyers a first-hand look into properties from the comfort of their homes.
If you’re a mortgage broker, you can record informational or question and answer videos in which you discuss common questions related to the mortgage industry.
4. Create a Website for Your Business
Every business needs a website -- and the same is true for your real estate or mortgage business. Your business website should professionally display your recent sales or deals to show that you’re an experienced and reputable broker. Your website should include a biography section with information about your background for a more personal touch. It should be easy to find contact information on your website as well.
Additionally, you may want to consider starting an internal blog to discuss different concepts relevant to the industry. Not only is this helpful for potential buyers, but it also helps boost your search engine optimization (SEO).
5. Create social media profiles for your business
Perhaps the best thing you can do to improve your digital marketing presence is to create various social media profiles for your business. Depending on your target audience, you may want to consider creating profiles on Facebook, Instagram, LinkedIn, and TikTok. If you’re looking to reach a younger, hipper, and trendier demographic, consider prioritizing TikTok and Instagram. On the other hand, if you’re looking to reach an older or more professional demographic, consider prioritizing Facebook or LinkedIn.
For all of your social media profiles, be sure to upload a professional profile picture, complete your bio, and start posting content to build your follower base.
6. Utilize email marketing
Even though social media marketing has exploded recently, email marketing still has a place in the 21st century. This is especially true within the mortgage and real estate industries. However, building your email list from scratch can be challenging if you’re unsure how to incentivize people properly.
You should base your email marketing list on your previous clients. After all, you never know when they may decide to sell again! You should then promote your email list on your socials, website, and other locations -- even in person. Be sure to present some value for subscribing -- whether it’s a free consultation, personalized advice, or general tips and tricks.
7. Prioritize remarketing
Remarketing on social media and search engines allows you to re-target people that have previously engaged or interacted with your content. This tactic is especially valuable since a vast majority of people are not converted the first time around.
Instead, it takes time and effort to earn a conversion to build brand awareness and authority. So instead of always trying to reach out to new people, try reaching out to old ones for a better chance at conversions.
8. Gather client reviews
If you’re looking to show off your business, the best way to do this is to offer social proof through client reviews. People want to know that you are who you say you are, and they are likely to trust feedback provided by previous clients. Simply writing a review at all says a lot about your services -- and people take note of this.
But how can you gather client reviews? In addition to offering exceptional services, you can reach out to previous clients with a simple survey or feedback request. If you’re looking to gather a ton of reviews, you may want to offer some sort of incentive in exchange for their review. This doesn’t have to be anything significant. Sometimes even the most seemingly negligible incentives can give people the push they need to take a desired action.
9. Partner with other experts
If tackling the industry using digital marketing on your own feels overwhelming, you may want to consider partnering with other experts. For instance, say you’re a fresh new broker. You could probably benefit from partnering with an older, more experienced broker. Sometimes the most unlikely partnerships end up being the most fruitful -- so don’t be afraid to get creative and step outside of your comfort zone.
10. Partner with influencers
The last thing that you can do to improve your digital marketing strategy is to partner with influencers. Influencer marketing has exploded lately, and while you may think that this type of marketing is reserved for businesses that sell actual products like apparel and cosmetics. You can take advantage of this trend as a broker.
When looking for potential influencer partners, remember that follower counts aren’t everything. Instead, you’re looking for influencers that cater to your target audience. Since your target audience trusts the influencer, they’re more likely to trust you by association.
While you may have to offer free services or other incentives to establish a partnership with an influencer, you can expect an impressive return on investment if you use the right partner to promote the right content.
How to get help with digital marketing
Establishing and managing a digital marketing strategy for your brokerage isn’t easy. It can take up a great deal of your time and effort if you’re not careful. If you’re sick of feeling like a social media manager rather than a broker, you may want to consider working with a digital marketing agency. An agency can help you develop and execute your strategy -- allowing you to focus 100% of your attention on your clients.
Final thoughts on digital marketing for brokers
With the right strategy and expertise, you can use digital marketing to grow your brokerage business effectively. For other relevant mortgage content, check out some of the resources posted by Vaster Capital.