It’s probably fair to say that all mortgage brokers are aware of social media with popular platforms such as Twitter, Facebook, LinkedIn, Pinterest, YouTube and Instagram enabling opportunities to interact on both a personal and business level.
By using this technology, brokers can enhance their businesses in terms of brand perception, client interaction and the overall exposure of their service.
Although social media can take extra time in a broker’s week, it can be free in terms of financial cost. With a good strategy in place, time can be used effectively and the quality of posts and interactions can be high.
Social media offers brokers many benefits. Brokers can continually grow a group of followers who are tuned in to what they have to say. When brokers upload social media posts, all of their followers may see it and the post can be shared and viewed by the friends, or followers, of a broker’s following. This can lead to posts, and the brokerage, having extended reach and attracting the attention of an even wider audience. In some instances, a post can go ‘viral’ which means it is shared and viewed by many people. Social media platforms offer brokers an opportunity to shape their brand image and receive instant feedback, all with a personal touch. For brokers looking to improve their search engine rankings, a social media presence also adds credibility to their page ranking.
Having a social media strategy and plan is important for brokers who are looking to maximise the return on their social media ‘investment’ (the investment of time and possibly the financial investment for brokers who are looking to get more than just the free social media functionality). Social media pages should be updated regularly and include a mix of informative and entertaining material, similar to a newspaper’s approach to news and articles. Pictures and videos in posts can also attract greater attention.
Using social media can be simple and there are also more complex options and strategies for brokers who want to further explore the possibilities. To minimise the time spent posting on social media, there are providers such as Hootsuite and Buffer that enable multiple platforms to be updated with just one post.
Fortunately for brokers, a single converted lead has a relatively high value when compared to other businesses so if social media can get a broker just a few more converted leads each year, it’s likely to be worthwhile.