From Likes to Leads: 7 Reasons Why Brokers Should Use Social Media
In the digital age, mortgage brokers are constantly seeking innovative ways to boost their business and stay ahead of the competition. Now with market being as competitive as ever, one avenue has proven to be invaluable. That is, leveraging the power of social media platforms, such as Instagram, Facebook, LinkedIn, TikTok, YouTube and more.
Traditionally, social media was a place for individuals to connect with personal connections. Now, social media has transitioned into a dynamic tool for businesses to elevate their lead generation efforts. In this article, we delve into the significance of social media for mortgage brokers, and its capacity to effectively boost lead generation, and create positive outcomes for businesses. Here are our 7 reasons why social media platforms should be used to your advantage:
1) Social media platforms broaden your audience reach.
One of the prominent advantages of utilising social media for your mortgage broking business is the extensive audience that social media platforms provide. Platforms such as Facebook, Instagram, LinkedIn and TikTok have millions of active users in Australia. Below are some interesting statistics on the number of users in Australia across the following platforms:
- Facebook: There are 16 million Australian users. This accounts for 64% of Australia’s total population.
- Instagram: There are over 13 million Australian users. This accounts for 51.5% of Australia’s entire population.
- LinkedIn: There are 12.75 million Australian users. This accounts for 47.7% of Australia’s entire population.
- TikTok: There are 8.5 million Australian users. Among these users, there are 350,000 businesses that use TikTok as a marketing tool to reach new and existing audiences.
By establishing a strong presence on these platforms, you are enabled to connect with a broader and more diverse audience compared to traditional marketing methods. This widened reach unlocks new opportunities for generating leads from various demographics and geographical areas.
2. Social media allows you to build trust and credibility in the world of finances.
In the realm of finance and mortgages, trust is paramount. Social media not only allows you to demonstrate your proficiency and expertise in what you do but allows you to solidify your position as a trustworthy and credible authority in your industry. Consistently sharing valuable content, such as industry insights, mortgage tips, and success stories, you are building your reputation and trustworthiness. Clients are more likely to reach out to a mortgage broker who they perceive as knowledgeable, well-informed and dependable.
According to Sprout Social:
- 91% of people believe in the power of social media to connect with people.
- 64% of consumers want brands to connect with them on social media.
- 70% of consumers feel more connected to brand that are active on social media.
3. Social media provides an avenue for real-time interactions.
Social media platforms facilitate real-time and immediate interactions with your audience. This enables you to actively engage with potential clients through comments, messages, and live video sessions. This two-way communication fosters trust and connection with prospects, enhancing their confidence and comfortability in contacting you for their mortgage needs. Moreover, social media presents an opportunity to promptly address any enquiries or concerns, which can be a significant influence in your ability to convert leads.
4. Social media unlocks advanced advertising to reach and nurture leads.
Social media is the new way to advertise. These platforms offer advanced advertising options, enabling you to target specific demographics, interests and behaviours of your ideal audience. For mortgage brokers, this means you can tailor your ad campaigns to customise who you want to reach, effectively targeting a potential client with an ideal borrower profile. This precision-targeted strategy significantly increases the quality of leads you generate, as you are engaging with individuals who have a higher likelihood of being interested in your services.
In Facebook, you can create campaigns in just a few minutes. You can also choose a campaign objective, based on what you want to achieve from your campaign. These objectives include Awareness, Traffic, Engagement, Leads, App promotion and Sales. Delving into Leads objective, this allows you to collect leads for your business or brand through instant forms, messages, calls and sign-ups, allowing you to gather information from your prospective clients. This option then enables you to move them through the buying process, to get more qualified leads.
5. Social media elevates your business with compelling content.
Content is king on social media. Content reigns on the platform, and allows you to share informative, relevant, and engaging content to position yourself as a respected authority within your industry. As a result of this, this naturally draws in organic leads for your business.
It is important to stay consistent in your content schedule. Regularly publishing and sharing blogs, videos, infographics, and other valuable content not only sustains the interest of your audience but enhances your visibility in search engine rankings. As your content gains stronger visibility, it has the potential to generate inbound leads from individuals who are seeking mortgage-related information.
There are many ways you can optimise the content you deliver to your platforms. Canva is a free online design platform that allows you to create content rapidly and scale your brand and marketing efforts. Creating content doesn’t have to be hard, especially when lead generation is one of its major benefits.
6. Social media uncovers the strength of referrals and networking.
Social media serves as a central hub for networking and referrals. Through forging connections with similar industry-connections, like real estate agents, financial advisers, and fellow mortgage professionals, you can access referral networks at the tip of your fingers. Better yet, referrals networks can provide you with a consistent flow of leads. Building and nurturing these relationships proves immensely advantageous for your mortgage broking business.
There’s no better place to connect with business and industry professionals than on LinkedIn. In fact, LinkedIn is the most effective channel for driving high-quality leads. LinkedIn is the world’s largest professional network, where users use the platform to strengthen professional relationships to succeed in their career.
7. Social media harnesses the power of analytics in making informed marketing decisions.
Finally, one of the greatest benefits of social media marketing is the ability to monitor, measure and evaluate your social media efforts. Most social media platforms offer analytics tools that provide you with valuable insights into the performance of your posts, advertisements and campaigns, and overall audience engagement. This data allows you to make conclusions about your content, to refine your strategies over time, and focus your attention to what methods work best for generating leads.
Leveraging Social Media: Your Path to Success!
In today’s digital landscape, embracing the potential of social media has evolved from being a choice to a necessity in generating leads and remaining competitive. By expanding your reach, building trust, and actively engaging with your audience, you can enhance your lead generation efforts strategically and elevate your mortgage broking business to new heights.
We are a boutique aggregator that supports our brokers in embracing social media as an integral part of their business strategy. We are dedicated to supporting brokers like you in your journey towards business success. Discover what we are about today!