Everything You Need to Know About Working with “Digital Influencers” for Mortgage Leads

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On our last post, we talked about one aspect of content marketing. In this installment, we’re going to show you another content marketing strategy that you can use for getting more web traffic and leads from your mortgage website.

We’re talking about influencer marketing!

Influencer marketing is largely ignored by the lending industry, though it’s popular in other industries such as retail and entertainment.

Even if you’re not familiar with the term “influencer marketing,” you’ve seen it in action. Celebrity spokespersons is a type of influencer marketing frequently used in major advertising.

A digital influencer is someone “micro celebrity” who has a loyal and somewhat large following on social media, YouTube, or their blog (sometimes all 3!).

If you consume any online content, chances are that currently following a digital influencer.

How “Influencer Marketing” Boosts Mortgage Leads:

• They give your website and brand more exposure.
• They create the content for you.
• They generate leads by directing traffic to your site.
• They have a repertoire with their audience, making conversion easier.
• They have a strong influence on the consumer’s purchasing choices
• They engage with their audience, creating another opportunity to talk about your lending services.
• They are creative with campaign development and know how to deliver thanks to the intimate knowledge of their audience.
• They distribute the content.
• They can help you grow your social following.

Now that you know the benefits of working with a digital influencer for mortgage leads, let’s talk about how to do it!

Choosing a Digital Influencer

Look for a digital influencer whose audience is one you are trying to reach. You’ll want to consider the topic, location, and type of audience.

For example, if you specialize in refinancing in Collier County, Florida,  look for digital influencers that discuss budgeting, home decor, home remodeling, family, or feature local businesses in that county.

If you serve a specific demographic, such as Spanish-speakers,  reach out to influencers that are popular among the Latino community.

Once you find a few influencers, review their online presence across the board to see if their “brand” and voice is a good fit for yours. Review their previously sponsored posts and see how they delivered the message.

If the influencer is a good fit, then the next step is to reach out to them either by email or direct message.

Be clear about what type of campaign(s) you want to run through their platform (more on that below), what your goal is, and what you are offering for compensation (more on that below).

A note about compensation:

Lenders working with a digital influencer can do it similarly to the way other industries do it, but there are a few differences.

For example, one of the traditional ways of working with influencers is doing an exchange of services, such as giving them a physical product (like a sports coat), an experience (like tickets to an event), or free services (like free car detailing) in exchange for promoting you.

Home lending is a service, but it’s a financial service that is highly regulated. This means it is probably very difficult to use “mortgage perks or services” (such as offering points or discounts on closing costs) in exchange for influence marketing without violating compliance.  Do not worry –there are simpler ways to compensate digital influencers.

How to Work with Digital Influencer to Generate Mortgage Leads

Compensation: Goods, Services, and Monetary

You could offer items that are unrelated to your mortgage business such gift certificates, gift baskets, concert tickets, or anything that has monetary value.

Communication is critical. 

There are instances that an influencer will receive a free gift with no strings attached.

Be clear that the item you are offering is compensation for marketing services, and by them accepting it, they agree to do a sponsored post.

Ideas for Sponsored Mortgage Posts

Sponsored Post – This type of content marketing can be a blog article, video, or even a picture that’s posted on social media along with text and a link.

When it comes to the topic for your sponsored post, you can be as specific as you want.

For example, you can say that you are open to suggestions but want to promote yourself as a lender in Chattanooga County.

Or you can be more precise and ask them to create content for, “Top 10 Reasons to Choose a Local Chattanooga Lender.”

**Bonus! A sponsored blog post can add to your SEO marketing efforts too.

Sponsored social media posts work similarly, except the content is shorter. You might want them to do a series of posts over the course of a month or have a day dedicated to your sponsored posts.

Discuss the details with the influencer to see what works best for both of you.

Guest Post – A guest post is where you provide the content. Usually, this is a blog article, but you could also do it by providing images and text for the influencer to post on their social media platforms.

Partnership -This tactic works exceptionally well for “financial audiences.” You could do a live or recorded Q & A video session. Ideally, the influencer will promote this event in advance and encourage early engagement by telling the audience to send in their questions before the event.

Another plus side of doing a partnership is that influencer will be running the “show.” All you have to do is be prepared to answer questions.

Instagram recently released a feature allowing “friends” to join in on a live video –something to consider if you’re working with an influencer on Instagram.

Other types of marketing include giveaways, competitions, and reviews. Brainstorm with your digital influencer and see how other financial companies have run these types of campaigns.

“If is doesn’t sell, it isn’t creative” – David Ogilvy

In this quote from legendary marketer David Ogilvy, he warns not to sacrifice your sale for creativity. So whatever marketing method you use with a digital influencer, make sure that it’s one designed to convert traffic into leads!

Looking for more ways to turn traffic into mortgage leads? Check out our mortgage website templates with built-in lead capture forms and integrated digital 1003.

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