Though direct mail is bound to reach 70-80% of potential borrowers and ensure up to 28% better results, digital marketing may be the way to go considering how lead generation costs can be quite high in many sectors. If you want to effectively pinpoint your target and add shopper convenience, here are five digital tactics that'll enhance your marketing campaign and educate buyers.
#1) Include a Social Media Strategy to Your Marketing Campaign
Though young adults are most likely to use social media, 35% of seniors aged 65 and older have accounts on Twitter, Facebook, etc. according to Pew Research Center. Therefore, you can use this tool to reach out to prospects.
#2) Launch a Content Marketing Campaign
Since your main goal is to educate buyers, you should leverage content marketing. This form of marketing has proven to be beneficial for converting sales, especially since 8 out of 10 decision makers would rather get company information through articles rather than advertisements. Therefore, consider enriching your blog with topics related to your target market, myths, and other issues that have caused buyers to opt out of this type of purchase before.
To further add value to your content marketing efforts, consider optimizing your content for search engines to ensure your content's visibility and drive more traffic to it.
#3) Set Up a Geotagged PPC Advertising Campaign
Though your content marketing deliverables will boost organic search engines, you can reach your potential customers faster by displaying your ad next to search results. By ensuring that your pay-per-click (PPC) campaign is geotagged, you can connect with local prospects easily.
Cliff Auerswald, President of All Reverse Mortgage Company, pointed out another benefit of PPC. "Seniors aren't the only people who'll be researching reverse mortgages. Their children or grandchildren will be conducting their own research to ensure that they will not be affected or burdened with repayments after their parents pass away. Therefore, our marketers have always targeted them through our PPC campaigns, directing them to informative, educational content that puts their concerns to rest once and for all."
#4) Utilize Digital Remarketing to Snag Prospects
Also known as retargeting, digital remarketing is the process of targeting prospects based on their previous online activity. For instance, a prospect visiting your website may come across your ads while browsing other pages on the Internet, all of which aim to redirect them back to your site and convert them into paying customers.
According to Adobe's CMO.com, site visitors who were retargeted with display ads were 70% more likely to convert. So, retarget your customers to urge them back to your website and give your web content a chance to convert them into reverse mortgage borrowers.
#5) Provide Downloadable Content
Case studies, white papers, and eBooks are quite comprehensive, answering all the questions your potential buyers may have before approaching you. They also substitute the take-home information and resources which traditional lenders provide without getting lost or creating clutter at prospective borrowers' homes. As a result, you can be sure that they will effectively educate your borrowers. If you want, you can also include a few presentations to save their time and provide information quicker.