Scaling a mortgage business requires a 360-degree effort. From staffing to workflow management and technology, growing a mortgage business is just as much about increasing intake capacity as it is about developing professional attributes such as branding. Even if you’re a one-person shop still a year or so away from expanding your business, it’s best practice to build a foundation that can scale with you.
That said, this article will cover how to build a brand that’s pliable enough to meet your current business needs as well as your future expansion plans.
Then, we’ll give you ideas on how to use strong branding to fuel your mortgage business growth. Let’s dive in!
How To Create A Scalable Mortgage Brand
Developing a scalable mortgage brand begins with writing a mission statement that stands the test of time. It should be well-defined, simple, and honest about who your company is at its core. No matter how large your company gets, this mission statement will remain true. A simple guideline for writing a mission statement answers these questions:
- What does your mortgage company do?
- How does your mortgage company do it?
- Why does your mortgage company do it?
After writing a 1-2 sentence statement that hits all three points above, you’ll be set with a branding foundation that you can use for everything from your business plan to advertising to scaling expanding your business.
Remember to add visuals! Graphics and color schemes are a memorable part of your branding story. While it’s expected that your visual brand will evolve over the years, it should remain relatively consistent to maintain that familiarity and relationship with your public.
How To Use Your Brand To Grow Your Mortgage Business
Discover Your Target Buyer Personas
A buyer persona is a fictional ideal mortgage consumer. If you’re doing it right, you’d be able to answer questions like where your consumer lives, her income, his fears and drives, demographics, and shopping habits.
Knowing your brand and mission statement will help you to discover who your target buyer is. Consequently, you’ll know what messages, content, and advertisements you should create to speak to this buyer effectively. Although it may seem like a minor exercise, knowing your target audience can decrease the cost of lead acquisition while also increasing the quality of the lead.
Understand Your Competitive Edge
The fact is that there will always be a competitor with a bigger marketing budget or more resources. But that doesn’t mean that you’re out of the race. Your mortgage business –its value, mission, service –are qualities and benefits that are unique to your business.
So when attempting to leverage your brand to scale your business, think about what factors make your business attractive and unlike others. Use what you know about your target buyer persona to develop a list of benefits and features about your business and brand and use it as a framework for your marketing strategy to strengthen your reach. Here are a few examples:
- Transparent mortgage process
- Pressure-free self-serve application
- Investment property professional
- Tech-savvy government loan specialist
- Biligual loan services
Use Brand Awareness To Define Your Pathway For Growth
Brand awareness is the initial step of any marketing funnel and a critical component of organic mortgage lead acquisition. Not only does your brand communicate your value and purpose, but it also builds rapport and familiarity between your business and prospect. This awareness is crucial since consumers typically choose what they are familiar with when making purchasing decisions.
Now that you understand that there is “equity” in your brand, inject it into every touchpoint of the user experience. Just like building a long-lasting business, creating brand awareness requires constant effort for a sustained period.
Be Social. Studies have shown that over 50% of a brand’s reputation comes from being sociable. Be active on social media by sharing content, replying to comments, commenting on other’s posts, and responding to reviews.
Humanize Your Content. Use personality and storytelling to give your brand depth and your prospects something to latch onto. You can do this by sharing client stories, lending scenarios, and even easy-to-read mortgage articles written in a friendly tone.
Technology + Mortgage Branding
A brand’s ability to scale your mortgage requires more than inserting a logo. To positively impact your marketing campaigns, consumer perception, and revenue, mortgage branding requires a 360-degree effort in awareness and consumer experience. At LenderHomePage, we understand this concept profoundly and have woven it into every mortgage software product we’ve developed.
From our templated mortgage websites to the industry-leading Loanzify mortgage mobile app, our digital mortgage tools invite engagement, strengthens brand loyalty, and definitively set you apart and above your competition. We’re more than software developers. We’re your partners in digital mortgage business success. Click here to start a conversation.