The beauty of the symbiotic relationship between loan officers and real estate agents is that both possess strong communication skills. Since both players have a very specific role, each offers their unique take on their particular area of expertise in the home buying and mortgage approval process. But, while real estate agents have slowly but surely adopted video as a key selling tool, LOs have been slower in embracing video as a sales and marketing channel.
Imagine informative “bite-sized” video clips for prospects. How hard could it be? After all, explaining each facet of the loan process is what you do each and every day. And, adding video to your marketing repertoire not only supports your lead generation efforts, but it’s also an excellent way to provide much-needed information for current clients as you guide them through the mortgage application process.
Why is it so important for loan officers to use video in their marketing?
If you’re one of those loan officers who has avoided video, the numbers don’t lie. According to HubSpot’s Ultimate List of Marketing Statistics for 2020:
- More than 50% of consumers prefer video content over other forms of content (like emails, social, and blogs)
- Product videos can increase purchases by 144%
- 93% of marketers say they’ve converted a lead into a paying customer due to video on social media
- Video marketers are said to get 66% more qualified leads yearly than those don’t focus on video
- 20% of people will read the text on a page, but 80% of people will watch a video
9 video topics for loan officers
Not sure where to begin? These are just a few of the topics that could be covered in one or a series of short video clips:
- Brief descriptions of the features and benefits of different loan products
- Renting versus buying and estimated savings
- How to determine what you can afford
- A walk-through of required documentation needed to complete your loan application
- A breakdown of the entire process — from pre-approval to clear to close
- How to improve and maintain your credit score
- Strategies for coming up with a down payment
- Dos and don’ts while waiting for loan approval
- Team up with your co-branding real estate agent partner to create a first-time homebuyers video
How to use the videos you’ve created
- Upload to your website, company website, YouTube, and all social media platforms
- Have users opt-in and provide important contact information in order to view your video posts
- Include links to videos as part of your email marketing campaigns
- Include links on your blog, newsletter, and any other marketing pieces where applicable
The Bottom Line
If you’ve shied away from video, you’re missing a great opportunity. You’ll need to perfect your scripts and practice your pitch. Your presentations should be brief, informative, and end with a clear call-to-action. Oh, and it’s OK to have a little fun, too — show prospective borrowers your personality! Video is the perfect way for you to stand out from all the other loan officers out there.
While today’s smartphones make creating quality videos easier than ever, if you have the resources, use a professional videographer. Also, be sure to tap into your marketing team for assistance with marketing standards, creative assets, editing, and compliance. Remember, selling is second nature to you. You have the expertise and the experience to translate the mortgage loan process into something prospects can understand and appreciate.