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Benefits of Using Facebook Ads for Loan Officers

Every loan officer will agree that the modern mortgage business is largely a relationship business. To achieve long-term success, you must keep in touch with prospects and customers. The contemporary society uses social media networks like Facebook to interact. That means Facebook is one of the best places to reach, connect, and keep in touch with prospects and customers. Facebook ads for loan officers provide the best way to create a strong social media presence and generate leads. That’s because it’s easy to run targeted, local Facebook ads that get mortgage leads streaming in. 
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Wrong approaches 

Many loan officers don’t know how to use Facebook ads to get leads. Some of them rely on realtors to get leads. Others buy radio ads that suck or flyers with the hope that prospects will call them. Even worse, some loan officers spend money on happy hours hoping that realtors will notice them and maybe offer them some business. These are ineffective and outdated lead generation methods for loan officers. 

Why use Facebook ads to generate leads 

If you have been using any of the approaches mentioned above to get leads, it’s the high time you changed how you do business. You need to implement inexpensive and targeted Facebook ads to get leads, long-term referral relationship, and value for your money and effort. 

Here are some of the benefits of Facebook ads for loan officers:
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  • Custom advertising
Do you know that you can upload email database to Facebook and run ads to the people in your database only? That true. You simply need to export email addresses from your CRM as TXT or CSV file to your Facebook custom audiences list. Facebook will take a few hours to avail the list for the ads after which you will get a read list of your custom audiences.
After that, you can always choose your custom audiences rather than do the normal targeting whenever you create a Facebook advert. Among the ideas that you can market to this database include market updates, featured properties, contests, and personalized thank you messages or videos.  
  • List properties to generate quick leads  
This is one of the major reasons why successful loan officers use Facebook ads. Facebook ads allow you to select a niche for which you can come up with an offer for listed properties. For instance, you can create a list of the best off market properties that may be unavailable in MLS. You can also come up with a list of properties that qualify for up to 100% financing or a list of the best first-time buyer homes. Such lists will generate quick leads from targeted or interested prospects.
  • Segment buyers with Facebook Video ads
The custom audiences in the dashboard make Facebook video ads for loan officers amazing. Facebook creates separate audiences of individuals that want to watch the videos that you run on your ads. For instance, you can run a Facebook ad for a $400,000 property for one week and 1,000 individuals watch the video. Such a video will cost you about $50.
On the week that follows, you can find a realtor listing a property worth $415,000 and tell them that you have 1,000 potential buyers within their price range and do some co-marketing. You can also do the same for separate investors and home sellers by running different Facebook ad videos.
  • Showcase your newsletters
If you write a couple of newsletters every month, you can showcase them on Facebook ads. That means you can email the newsletters to your database and promote it on this social network. This will generate more leads especially if the newsletters have great graphic designs. The description of the ads can also link to the newsletters. This can be a great way to ensure that your newsletters reach more audiences because graphics or photos have a greater click-through rate that text on Facebook.
  • Run mini-promotions
Perhaps, you participate in local charities or events. Facebook ads provide a great way to spread the word on such events by running a mini-promotion or ad for the upcoming events. For instance, you can tell your target audiences that you will participate in the upcoming event. Let them know what you will be doing during the event and why they should connect with you there.
Facebook ads for loan officers enable them to spread the word about their businesses with more clarity. They keep their businesses appearing in the newsfeeds of the target audiences and this keeps them at the top of their minds. Facebook ads are definitely something that every loan officer should consider particularly because Facebook is the largest social network with over 1 billion active users. 

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