Let's look at some data from NAR, McKinsey, and the CFPB regarding consumer buying behaviors…
Why It Is Critical for a Mortgage Company To Have An Effective Mortgage Website
The Internet is evolving and so are the expectations of consumers when it comes to business websites. As a mortgage company, your website should instill visitors with a sense of confidence in your brand while generating mortgage leads at the same time. Having an effective mortgage website is pretty important.
A mortgage represents the largest financial transaction the vast majority of people will undertake in their lives. Are consumers likely to give that business to a mortgage company with no website or one that looks as though it was designed 10 years ago?
Much like a home for sale, your website should convey a strong sense of positive “curb appeal” to prospects when they first click onto the site. The website should convey the company is stable and that visitors can trust the company with their mortgages. From a web design perspective, this means the site should have a professional, clean and solid theme conveyed through the graphics, layout, colors and text used in the design. Anything less and visitors are likely to simply click away until the find a site that offers such characteristics.
Consumers are clearly moving online to find financing for their home loan needs. Successful mortgage companies are embracing this online trend by moving beyond simple “business card” website designs. Instead of launching a website because you are expected to have one, mortgage companies should be launching an effective mortgage website designed to provide prospects with useful information while nudging them into a marketing funnel that produces inquiries and applications. Accomplishing this approach requires an experienced web design team familiar with such concepts.
One of the advantages of operating online is the ability to drip market on prospects though email marketing. According to a study by Merkle, Inc., 74 percent of consumers prefer to receive commercial communications by email compared to any other mechanism while 66 percent of people initiate online transactions through email according to the Direct Marketing Association. With careful planning, a well designed mortgage company website can convert website visitors into newsletter signups by:
• Strategically incorporating email newsletter sign up forms in the body of the design;
• Offering free mortgage or real estate white papers or guides to visitors in exchange for those visitors signing up to receive email messages
• Automatically enrolling individuals submitting quote requests as part of the site design.
As the email list grows, high quality newsletters can be created to drip market on individuals on the email list. When rates fall to a point where refinancing becomes an option for many homeowners, for example, a special refinancing offer can be sent to the prospects on the list to generate immediate refinancing work and revenues.
Money Well Spent
Investing in a quality website is money well spent. Consumers are moving online to find solutions for their home financing needs. The successful mortgage company is going to be one that recognizes this trend and uses a high quality website to take advantage of it.