When it comes to ranking your mortgage website on search engines, there are two primary methods of doing so:
1. Paid search, or PPC, is the practice of paying a search engine to place an advertisement that looks like a search result, and then paying them every time someone clicks on it.
2. Search engine optimization, or SEO, is the practice of trying to get the search engines to ORGANICALLY recognize your website as being relevant enough to show up in the top search results for the keywords you want to target.
Let’s be honest, when it comes to our mortgage marketing efforts, we aren’t looking to invest in long term returns. We aren’t looking to spend with no promise of growth. And we don’t have the time to sit around and experiment.
No, we aim to invest in opportunities that can have an immediate impact on production.
With that being said, we have put together three reasons paid search is better than SEO for mortgage marketing.
1: SEO Requires Far More Time, Money & Attention Over Time
From a commitment standpoint, be prepared for SEO to demand a large portion of your valuable time, money and attention. Think of your SEO efforts as constantly feeding the beast.
What do we mean?
Improving rank within search engines requires you to attract organic search traffic to your website. This means you have to produce some sort of content that is valuable to a prospect.
But it doesn’t stop there.
To ensure that you attract as much traffic as possible, you must continuously create and distribute relevant/useful content. Not to mention keeping your website up to date with the latest trends.
Search engines like Google take all of this and more into consideration when ranking you in user searches.
As a loan officer, whose primary focus is closing loans, we know you don’t have the time to commit to taking on such tasks. Not only that but most loan officers don’t have the background or expertise successful SEO efforts demand.
At this point, you’re thinking, “I could just outsource or hire someone to take this on.”
Sure, you could. Just be ready to use most, if not all, of your marketing budget. Then be ready to keep spending and spending and spending…to keep your website relevant.
Regardless of whether you attack this on your own or hire help, it is going to require your undivided attention.
2: SEO Can Take 1-2 Years of Effort Before Seeing an ROI
Let’s talk about ROI. When we consider whether our mortgage marketing investments are “worth it”, we lean on good ole’ ROI to give us the answers.
When it comes to SEO, you can bank on waiting at least one year to scratch the surface of seeing returns.
Much like sitting at the DMV, generating organic traffic is a mind-numbingly slow process. To make matters worse, odds are the market you are targeting is likely dominated by industry leaders like Quicken Loans and Veterans United.
This means settling with the idea of maintaining your current pace of production during times of market research.
However, if you’re actively searching for ways to increase production, you probably aren’t looking to invest in returns that might show up 1-2 years down the line.
You want results that benefit your business in the immediate future.
If that is the case, SEO is not the way to go.
3: SEO Has a Longer Feedback Loop Compared to Other Forms of Mortgage Marketing
What if I told you that the 1-2 year timeline to see an ROI on your efforts could be even LONGER, if you don’t do the right efforts upfront. And that it could take you 6 months just to find out that what you’re doing isn’t helping you AT ALL?”
Simply put, immediate feedback is nonexistent in SEO. Often times it takes months to identify what strategies work for your niche, if at all.
Here comes the tough part…
Investing your valuable time or hard-earned money just to find out you missed the mark is a sickening feeling. This happens to be a very real possibility in many business’ SEO efforts.
Not only are you striving to attract organic traffic but you are competing with industry leaders. What works for them may not work for you and replicating what they do can be nearly impossible for business with a limited marketing budget.
Best case scenario… you find some early success.
How do you maintain this? There is no good answer. The lack of stability is one of the most frustrating aspects of SEO. What worked yesterday in mortgage marketing might not work today.
To put it bluntly, users get bored with the same strategy used by every company. By the time you notice these trends, companies like Quicken Loans have already identified the next big trend and have applied it to their SEO strategies.
This demonstrates the vicious cycle that is SEO. Sure, with the right approach and some luck it can be very beneficial. However, it just doesn’t yield results in a timely manner, which is what most of us are after.
Why Paid Search is Best for Mortgage Marketing
1. Exposure for your business.
Paid search ads put you in front of the people seeking your help, even if they decide to go in another direction. Even if you’re ranked lower than another company, users begin to become familiar with your brand, which can open the door for other opportunities.
2. Control your budget.
Paid search services like Google Ads allow you to decide when your money is spent and how much of your money is spent.
3. Target the prospects that fit.
Unlike organic search traffic, paid search provides the opportunity for businesses to get very specific with the audience they target. For example, Google Ads can narrow down targets by search keywords, time and day, geography, language, and device being used. You can even take it a step further and target those who have visited your website and those similar to visitors.
4. Receive immediate feedback.
Paid search allows you to create and launch campaigns in just a few days, and begin analysis as the data flows in. It is the quickest way to get in front of the customer and discover which strategies work.
5. Set it, trim it, leave it.
Compared to organic traffic, paid search requires less maintenance. Although it still requires your attention, trend changes with paid search have much less effect and are far easier to manage. This allows you to check in to make small adjustments to bids and keywords.
6. Make the most out of your mortgage marketing dollars.
Well organized paid search can provide you with an affordable way to generate your own leads. As you move further along and begin to optimize your strategy, you have the ability to decrease cost and increase ROI. Ultimately, this provides you with a simple, quick, and low-cost, way to grow production without spending too much.
Although the benefits of long term SEO efforts are attractive, it’s just not what provides a realistic solution for what most of us are seeking. With SEO being so tough to master, paid search offers a simple and affordable solution to your mortgage marketing needs.
As always, thanks for reading and we’ll see you at the top!
Want us to help you use paid search to get the most out of your mortgage marketing?
Just click this link, book your live demo, and start growing, today.