If a picture is worth a thousand words, the value of a product video could very well be worth a thousand leads. James McQuivey of Forrester Research says the value of a one-minute video is 1.8 million words. That’s the equivalent to 3,600 text pages. In other words, if you write an average of one page of text for the Web per hour, it would take you 150 days to achieve the impact of a one-minute video.
It’s hard to dismiss the value of online video marketing, especially in the mortgage industry where competition is stiff, generating leads can be time-consuming, and originators are challenged to help clients understand complex terminology and processes. Short, informative and engaging videos are an ideal marketing option. They allow a mortgage company to provide past, current and potential borrowers with up-to-the-minute industry news while also providing information about the company, its services and its mortgage team. Online video can help differentiate your services from those of your competitors, build rapport and trust with your clients, keep you on clients’ minds and position you as an expert. Here is just a sampling of ways that you can use video to leverage your Thought Leadership position in the real estate industry:
Create a company welcome video.
People are far more likely to do business with a mortgage company when they are able to get a sense of its vision, mission and people. A short video that highlights background information about your company, its expertise and its team members can provide potential borrowers with behind-the-scenes insight into your company while differentiating it from the competitors. Video leverages Web traffic and amplifies a site’s online reach, so it is beneficial to embed the video on your company website and social media pages.
Capitalize on the power of testimonials
People often look to customer reviews when deciding which products to buy and what companies to do business with. Word of mouth is a powerful tool every originator should capitalize on. Video testimonials help create a connection with viewers and have the power to swing the decisions of consumers like few other marketing mediums. Creating a persuasive video testimonial provides an authentic way to establish credibility, boost sales, improve referrals and grow your business. Most importantly, it reassures potential clients that they have found the right company for them.
Tap into current news
As a professional in the mortgage industry, you are always keenly aware of current events affecting your business. Pass on that valuable knowledge to your clients. Changes in interest rates, government rulings and industry trends may all be topics of interest. By producing a short video about a particular news topic, you will not only help keep your clients in the know about current news and events, you also will be explaining it in a manner they can understand — all while positioning your company as a thought leader. At the end of the video, be sure to encourage viewers to contact your company directly for more detailed information about the topic.
Tackle client fears
Because buying a home is typically the biggest purchase a person will make in their lifetime, many people possess a legitimate fear of taking the plunge into homeownership. Use the power of video to allay their fears by encapsulating and addressing the biggest problems your clients face. Areas of focus might include highlighting ways to find a reliable and trustworthy lender, identifying the best loan for an individual’s needs and situation, overcoming a poor credit history or conquering the fear of getting into a long-term mortgage. No matter what the fear is, explain how you can help and what makes your company different from your competitors.
Take advantage of recent closings
Closing a loan is a complicated and often frustrating process for borrowers. Use the power of video to show potential clients that your company helps clients through the process with as little frustration as possible. By talking about what your company does differently to smooth the process for borrowers, you’ll be tapping into their emotions and dispelling their fears while establishing your company as a reputable and credible originator.
Capitalize on event marketing
More and more mortgage companies are taking advantage of events to educate and engage potential clients. Client-driven events offer an opportunity for mortgage professionals to connect with potential borrowers one-on-one, build a quality rapport and educate them on the topics that matter most in a low-stress, lower-pressure environment. Take advantage of the golden opportunity by hiring a videographer for your next event. You’ll be showcasing quality interaction with potential borrowers and offering viewers a preview of what they can expect when they choose your company.
If you’re not completely convinced about all the ways you can incorporate video marketing into your business strategy by now, consider the psychology behind why consumers are so drawn to video and why it is so effective. Susan Weinschenk, a speaker, author and consultant, offers valuable insight into why video is a must in any marketing strategy. The reason is simple: Humans are programmed to respond to other humans. People see and watch human faces to interpret information and determine its value and believability. They connect with the human voice. They respond to body language and emotions through video that they would otherwise miss in the written word, and they are stimulated by movement conveyed in video.