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Using Pay-Per-Click to Generate Mortgage Leads

The mortgage industry is a growing, evolving, and changing industry that faces more competition than ever. Competition grows every single day as the number of mortgage lenders and other professionals looking for business expands into new territories across the country. To stay on top in this environment, you need every possible advantage—but many mortgage professionals are afraid to explore one specific strategy because they assume it will be too expensive: Pay Per Click (PPC) advertising via Paid Search and Paid Social.

As an agency that has run successful PPC campaigns for more than ten years, working with all types of businesses, large and small, we can tell you from experience that using paid ads offers numerous advantages for those willing to take the necessary time to do them correctly. However, far too many companies choose to avoid this avenue altogether, or worse, hire a freelancer or do it themselves. Today we look at why you need Pay-Per-Click and an expert strategy to generate leads!

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Why Should Mortgage Brokers Use PPC to Generate Leads?

Pay-Per-Click (PPC) should be part of your inbound marketing plan, but why? There are dozens of reasons to market your business with PPC, but here are the top four for mortgage professionals.

1. Reach More Mortgage Industry Prospects Than Ever Before

Paid Search via Google and Bing helps you target potential homebuyers across the country who are actively searching for homes right now. If buyers are already in that stage (researching), your chances of converting them into leads and (ultimately new borrowers) are very high.

2. No More Cold Calling

The days of cold calling should be long gone, but they're not quite yet! Every time a lead comes in from a cold call campaign, it's often too late since they've been searching several days or weeks already without talking to someone who can help them today. With Paid Search, you can fill that gap without ever having to cold call—and with much better results.

3. Target the Buyer, Not Just Anyone Who Happens To Be In Your Market

It's hard enough to reach buyers when you know where they are. Without being able to target them, it's virtually impossible. With paid ads, you can not only target homebuyers in your immediate vicinity (your town or city) but also across state lines if desired. This is a great advantage since you're no longer tied down by geography, allowing you to find more mortgage marketing leads than ever before.

4. Powerful New Tools Make Lead Generation Ads More Effective Than Ever 

Google and Bing offer many new tools that help make each dollar go further than ever before. From being able to schedule ads, adjust bids, and identify which parts of your campaign need the most work—all from your desktop or mobile device—you can't afford NOT to try these out!

These four reasons only scratch the surface of why loan officers need a well-thought-out paid ads campaign to generate mortgage leads in their markets!

Do Paid Ads (PPC) Really Work for Mortgage Lead Generation?

Yes! In the mortgage world, inbound marketing can't stop with blogs and other content creation. Using all of the inbound marketing tools at your disposal is the best way to reach your target audience—before they turn to another company for their lending needs. However, getting PPC to work for you is not as simple as turning on an ad and watching mortgage leads pour in. 

Your PPC strategy should include Google Ads and Facebook Ads to reach a broader audience. Include these steps when creating your campaign and setting up your ads:

  • Determine the type of ads you want to use. Loan officers can use display ads, search ads, video ads, and more to create a compelling campaign. 
  • Research keywords for search engine optimization. While pay-per-click campaigns help "reach out and grab" new leads, critical search terms help your ads land in front of the right people. 
  • Define your budget and strategy. Remember, it's a pay per "click" strategy. Every time someone clicks your ad, you pay for it! Setting your budget tells Google or Facebook how much you want to spend, then that budget depletes for each click your ad receives. However, there are other ways to use your PPC budget for ads, so be mindful of your budget limit and the options you choose to spend per ad. 
  • Customize the audience. PPC strategies are an excellent way to target specific audiences, including location and some demographics. Set your ad to show up for people who fall into your customized audience to maximize the budget. 
  • Make sure your website is optimizedBefore turning your ads "on," make sure your website is optimized to receive qualified leads through your ads. You'll want a landing page and a clear path for "clicks" to follow through with the desired actions for new mortgage leads. 

When your ads launch, be sure to monitor traffic and click-throughs. Another great aspect of PPC is the flexibility to turn ads on or off within seconds, adjust the audience, or change text or images to improve mortgage lead generation. 

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Build Your PPC Lead Generation Strategy With Expert Insights

Mortgage professionals can't afford to leave Pay-Per-Click strategies out of their inbound marketing campaigns! Don't let fear leave you in the dark when it comes to marketing with Paid Search via Google and Facebook. We've mentioned only a few of the many reasons why PPC advertising is a must-try solution for a mortgage company that wants to generate qualified mortgage leads with better results! 

We're here to help! The RentBridge team helps mortgage professionals put the best strategies together for successful PPC campaigns. When you're ready to experience better mortgage lead generation, give us a call!