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Mortgage brokers and Facebook

Journalist: Anna Sagar, Mortgage Solutions / Specialist Lending Solutions

ended 06. August 2022

Looking to speak to mortgage brokers about using Facebook/other social media to promote their business. 

  1. How many social media channels do you use and why?
  2. Has it attracted new business/helped you communicate better with existing clients?
  3. Have you had any issues with social media channels (fraud etc) and how has that been dealt with by the company?

 

 

5 responses from the Newspage community

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Rob Peters
Principal at Simple Fast Mortgage
Social media is great but don't be fooled into thinking it's an overnight cash cow. You also have to know what you are looking to gain from social media. It is particularly good for brand awareness and building confidence in potential customers for the future, but if you are looking to 'sell' to people straight off the bat, you'll find this approach unsuccessful. People don't generally want to be blasted with sales pitches, so for us it's more about adding value, for free, with no strings attached and building a strong reputation as the go-to expert. I started a Facebook group 18 months ago and we now have over 2,500 members who have found us organically. We consistently posted information that would be of value to those members, and it just grew. That group now generates us enquiries, organically from people who know what we do, and are looking for our service. I have also started to leverage my existing LinkedIn network and use that to build a different more professional audience. We have around 2,000 followers, increasing organically by around 200 per month.
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Adam Hosker
Chief Technology Officer (CTO) at Cyborg Finance
LinkedIn is fine for B2B connections such as recruitment, Twitter is just for fun but it is Facebook where a business can attract new business. Social media in business has to be done right, no one wants to be advertised to. The public, though, do want your knowledge and help, and this is where clients can be won.
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Stuart Powell
Managing Director at Advice Guru
I run two Equity Release Facebook groups, one for advisers and one for customers looking to find out more about the products and seek advice from those who have already taken it out. The Advisor group is where brokers meet lenders, solicitors, sourcing companies and other brokers. They ask each other questions, promote webinars and support each other to solve client issues. It has nearly 500 members and is a huge support to many. The client group now has over 300 members, a huge number of which are over-55s considering taking out Equity Release and wanting to have their questions asked with anonymity. Several questions are asked each week so a bank of answers has built up over the years.
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Jamie Lennox
Director at Dimora Mortgages
We're huge advocates of social media. It's not only for gaining new clients but also for retaining our existing ones as 2-5 years can be a long time with no real contact with a customer. If they see your regular updates on social, it keeps that communication channel open for all parties. We're also finding more and more people are using these routes to find suitable firms to work with and we can see the numbers increasing with time. We currently focus on Facebook and Instagram and will soon be adding Tiktok to that list as our target market of first-time buyers are all using these platforms in which you can see real traction with organic growth. However, any firms looking to start using these need to realise its a long-term game, you're not going to have 1000s of followers and likes overnight. You need to try and be original and give insight back to your followers instead of just coming across as asking for business.
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Michael Aldridge
Director at Lucra Mortgages
Social media is a business imperative, not only to engage new audiences and keep in touch with existing clients but also to build a strong brand. It remains a key strategic focus for us. Currently, we are active on Facebook, LinkedIn, Twitter and Instagram, each offering something different and each helping us communicate to different customer segments. A significant omission is our absence on TikTok, we're keen to build our presence here especially as it has recently launched search ads.