BUILD-A-BROKER
COVID-19’s Impact On Digital Marketing
Use it to replace your face-to-face communication BY NABIL FREIJ | SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL
D
igital marketing expenditures have significantly increased over the years. Despite reduced marketing budgets due to the spread of COVID-19, digital marketing channels will still dominate. Here is why… Most brick-and-mortar events like fairs, flea markets, conferences, workshops and trade shows scheduled in the second quarter of 2020 have been canceled or will be virtual. Furthermore, future similar event plans this year are very much in limbo. With that, mortgage companies must seek other venues to spend their marketing dollars. They need to continue to build their brands and generate the required leads and sales.
WHY YOU NEED A STRATEGY You must consider digital marketing as a plausible scalable engine of growth for your brokerage. This engine of growth is made of many cylinders, each representing a digital channel. Ideally, you want every channel to be fine-tuned with the others to
deliver the most robust and efficient result for your business. The purpose of your digital marketing strategy is to channel traffic to your website or social media pages, engage your target audience and convert them to leads and sales. With metrics– and they are very abundant in the digital world– you can track all your steps, optimize them, streamline your processes and affect your key performance indicators (KPIs.)
DIGITAL MARKETING UNIQUENESS Digital marketing adds two important elements to traditional marketing. It is immune to social distancing consequences, but more importantly customers leave a forensic trail of evidence in the form of digital data that enables storing, tracking and monetizing every marketing campaign. With an enormous amount of data at your disposal, you can make better informed campaign decisions.
WHAT ARE THE DIGITAL CHANNELS? If you have not ventured into digital marketing yet, here is a summary of the channels available as categorized by Google. Their primary function is to drive traffic to your website:
“What impacts the success of your digital marketing strategy is knowing your unique selling proposition and target market.” PEOPLE ON THE MOVE //
> Sierra Pacific
Mortgage appointed Jeff Lochmandy vice president, divisional sales director for thirdparty originations, joining the company with 30-plus years of industry experience.
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| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE
> Interfirst
Mortgage Company named Lou Friedmann chief marketing officer.
> ReverseVision
appointed Carissa Orozco as its new director of business development, strategic partners.
> First Option
Mortgage named Fobby Naghmi executive vice president, national sales manager.
