Many make the mistake thinking that if they want more online mortgage leads, they need to increase traffic to their mortgage website. But did you know that most visitors will leave without filling out a lead capture form or starting a mortgage application?
The purpose of retargeting for mortgage leads is to get a second stab at converting the website visitor into your mortgage prospect –and it’s definitely worth the effort!
About ¼ of those visitors will convert into loan prospects after given a nudge from a smartly crafted mortgage marketing ad. And that’s precisely what this post will show you how to do.
Creating The Irresistible Mortgage Offer
When a visitor clicks out without converting, there are usually three reasons: the information was not relevant to them, they got distracted, or they weren’t sure of your value.
Forget about the first type of visitor since they’re not your target anyway and let’s focus the second two.
With a Facebook retargeting campaign, you’ll remind the distracted visitor to return to your site and finish filling out the application. You’ll also flash a much more attractive offer that will convince those other visitors of your value and lure them back your mortgage site.
Let’s get started.
Steps For Retargeting Loan Prospects on Facebook
Step 1. Create a Tracking Code
Facebook Pixel code is how to keep track of who’s visiting your mortgage site and how they’re behaving. Correctly installing this code is essential to your retargeting efforts!
To get your unique code, go to your Facebook Ads Manager Page.
Menu > Pixels > Create Audience > Name Your Pixel and Enter Your Domain
Step 2. Installing Your Pixel
A window will pop up with instructions for installing your pixel. Follow those instructions based on the type mortgage site that you have.
If your mortgage site is with LenderHomePage, you can copy and paste the code onto the analytics box.
Dashboard > Settings > Analytics
You can also email us the code, and we can install it for you!
Step 3. Create Your Audience
Now that your tracking code is installed, you want to define the audience that you want to track. From your Facebook Ad Manager menu, select audience > create audience >custom audience.
Choose to create an audience based on Website Traffic.
From here, you can choose which behavior you want to base the retarget.
For example, if you’re going to target people that visited your Contact Us page, then you’ll want to enter the URL for your Contact Us page. You can also narrow it down even further and target those that visited both your First-Time Homebuyers page and your Contact Us page.
Insider Tip: Make sure that the URL contains the loan product that you will include in the title of your Facebook ad.
The last thing here is to exclude any visitor that went to your Thank You page after submitting their information. This way you don’t retarget those that already converted on your Contact Us page.
Just place the URL of your Thank You page and set to exclude. Set the tracking time (we recommend 30 days), and that’s it for setting your audience!
Step 4. Starting Your Retargeting Ad
This is where you set up your visuals for the retargeting campaign.
You don’t need fancy graphics, but a professional photo with great sales copy and your logo is a must. Remember that you are targeting a specific type of prospect. Make your graphics and copy talk to those specific prospects and not a broad audience.
Step 5. Determine Your Campaign Objective
The objective you choose affects how Facebook will show your ad, primarily targeting those who Facebook determines will most likely do that action,
Since the goal is to get more mortgage leads from your previous web visitors, you’ll want to select the Conversion objective. Facebook will present a few options for the type of conversion you want.
Select Lead and click to verify your pixel.
Step 6. Selecting Your Audience
Not every site visitor will be your target. Some web traffic may come from loan shoppers that are out of your area. So the last step before launching your retargeting mortgage campaign is to define your audience characteristics (as opposed to audience behavior from step 3)
Enter your geographic preferences and other target audience characteristics.
However, you’ll want to be careful that you’re not violating federal discrimination laws. There have been instances where discriminatory housing ads were allowed to run on Facebook, exposing the ad creator to thousands of dollars in fines.
Step 7. Setting Placement & Budget
While you can choose to customize placement, we prefer to let Facebook determine the best placement. Then set up your budget.
One of the best features of running ads on Facebook is that you don’t have to invest a lot of money to see results. Set a budget that comfortable and makes sense.
Remember that you can always change it even after you start the campaign.
It might take you an afternoon to set it up, but it’s worth it! Remember that it’s easier to convert a visitor that’s already familiar with your loan services than it is to covert a new visitor.
Read this article for how to nurture you mortgage lead all the way through closing and see this post on how you can streamline your lending business so you have more time to nurture social media mortgage leads.