Today, HousingWire’s engage.marketing virtual event jumped off, and honestly, I could have maxed out a thumb drive with notes.
But instead of writing the mortgage and real estate marketing version of The Odyssey, I’ll just give you a few of my takeaways from Day 1 of engage.marketing.
Master Class: Video
Speaker: Alec Hansen, LoanDepot
Alec Hanson from LoanDepot is someone I’ve followed and respected for quite a while. He is a voracious producer of video, and as he mentioned today, the magic is in actually doing video… and doing it consistently.
Sure, the quality of the video matters to a point. No one wants awful, shaky video with muffled sound. But as long as you can do video that’s semi-stable, with semi-decent lighting, focusing on the production quality and editing is really the wrong thing to focus on.
What matters most os the content of the video. What is the video about? Are you delivering the “info” in a real, raw, authentic way that has some personality? I don’t care how many hours were spent on editing and special effects… literally no consumer wants to watch a 20-minute video about what rates did today.
The topic (aka the content) is king. There is no perfect editing software or style. People care most about the content itself, and that content is shared in an authentic way with some personality.
Speaking of rates… As Alec said, don’t talk about rates. Like, ever. People don’t care. Sure, rates are part of the conversation at some point, but rates are not what’s holding someone back from filling out a loan application or starting the process with a Realtor. It’s a lack of understanding of the process and intimidation that holds them back.
So… educate and enlighten consumers in your videos. Demystify the buying process, and they’ll not only watch, but they’ll see you as a trusted expert and advisor.
Keeping prospects warm
Speaker: Josh Friend, CEO & Founder, Insellerate
Josh Friend shared some very important stats that housing pros need to keep in mind when nurturing their prospects and generating leads.
Only one in four borrowers go back to their original lender for repeat business! The stats are very similar for Realtors as well. Half of those surveyed said they would have, but their original lender wasn’t there or couldn’t be found.
You can get a huge increase in business by being available and following up with clients over the long term so they remember you years later when they want to refinance, or buy another property.
Be persistent, over time. If you are out of sight, you’re out of mind… and the client will find someone new.
Lenders are only getting 30% of their business coming back a second time! If they forget about you years later, or you simply can’t be found, you’re handing a well-educated client to one of your competitors.
Marketing in a recession
Speaker: Sarah DeCiantis, CMO, United Wholesale Mortgage
I was only able to catch the first few minutes of this session, but I’m sure glad I did. Sarah Deciantis, the CMO of wholesale behemoth UWM dropped an incredible nugget. It’s a great reminder for everyone who has been putting in work to market themselves during the pandemic. I’m sure I’m misquoting her slightly, but it still works…
“Remain visible in hard times, and you’ll show up big in good times”
Speakers: Phil Treadwell, Co-Founder, Industry Syndicate and Brena Nath, HW+ Managing Editor, HousingWire
Podcasts are not only one of the most powerful ways to reach consumers and build a brand, but podcasts are also one of the best ways to spend your marketing dollars.
Podcasting is so powerful because unlike any other type of content, the average listener listens to an average of 75% of every single episode!
When you compare what’s considered great performance of other mediums, like a video on Facebook or YouTube, podcasts blow them away. The best performing videos online see an average of 71 seconds in watch time. If you have 4-minute video views on Youtube, you’re killing it!
But podcasting is the only medium where the average consumption is 75%+.
Basically, if you have an hour-long episode, the average listener listens for 45 minutes! As an advertiser, why wouldn’t you want to advertise on that podcast?
In addition, more than half of Americans listen to podcasts, and the average listener listens to five to seven different podcasts regularly.
Podcast listeners are also 45% more likely to have income of $200,000+. Opportunity, much?
I’ll be back tomorrow with my takeaways from Day 2.