Mortgage PPC w/ Google Ads
PPC is an often misused word that is used to describe advertising. When most people refer
to Mortgage PPC, they're referring to Google Ads or search advertising. However, PPC
literally stands for Pay-Per-Click and while there are less and less true PPC platforms,
it's important to understand what marketers are referring to when using jargon, especially as
you take control of your brand. For purposes of this page, and references made by
Empower Funnels, we will only be referencing search engine advertising when referring
to Mortgage PPC Advertising.
What is PPC Advertising
with Google Ads?
As mentioned above, PPC stands for pay-per-click, referring to a model of advertising where the advertiser pays only when someone clicks on an ad, and not for impressions (an ad being shown as a search result). This can be extremely advantageous for a loan officer who is trying to run their own advertising as it allows you to create ads that are not designed to be click-bait.
It also allows you to test what attracts your target audience without wasting money on ads that are shown but never clicked on. Google Ads is the platform that allows you to bid and become one of the "Sponsored" search results that show up at the top of Google when searching online.
How Does PPC Advertising
Work on Google?
Pay-per-click advertising on search engines in the mortgage space can be extremely frustrating if you don't know what you're doing. This is not intended to be a step-by-step guide by any means but is more just an explanation of the thought process that goes into search advertising for mortgages.
Search network advertising works by creating marketing campaigns that contain an offer that someone who's within your target market, searching relevant searches, can find and exchange for their contact information or a phone call. In the mortgage space, this is the process of finding people who are searching for mortgage information online and putting an ad in front of them that entices them to inquire directly to one of our loan officers.
Other Types of PPC Advertising
for Mortgage
PPC Advertising as a general advertising revenue model is becoming less and less popular. Getting paid on a per-click basis for ads that are created by the advertiser makes sense for search engines like Google, Bing, Yahoo, Youtube, etc because of the ease at which you can identify searches that are relevant to your audience. Another reason PPC makes sense for these companies is because of the level of control they maintain over the ads.
Every section of the ad has character limits, punctuation and capitalization guidelines, and other measures to maintain control of the ads shown to searchers. However, for media companies including social media like Facebook, they have to rely on data to target people for advertisers, and advertisers have way more freedom to create ads that don't perform well which makes PPC make less sense for them. As far as Mortgage PPC goes, Google Ads is really the vendor of choice with Bing coming in at a far second.
Alternatives to Mortgage
PPC Advertising
Although PPC is becoming less and less prevalent in the marketing world, there are plenty of other ways that you can still invest into mortgage advertising. Obviously, PPC is going to refer to only digital advertisements so it goes without saying that Radio/Podcasting, TV, Billboards, and Direct Mail mortgage advertising will all deviate from the PPC model. However, even with digital methods, the majority of your opportunities outside of search advertising will be non-PPC models.
Most media companies you pay to display ads across the internet will have a CPM model or Cost Per Thousand Impressions. With these types of Ads, you need to be sure you're using effective campaigns or you can eat through a lot of budget in a short amount of time, with no results. Lastly, you can also go the traditional route of just buying mortgage leads as opposed to trying to generate them yourself. However, this is typically going to be the least profitable route as you have a middle man with margins that are hidden behind a curtain, so typically this results in a much higher markup per lead.
The Best Way to Invest in
Mortgage PPC?
Extremely educated and experienced marketers have tried and failed at properly running PPC Advertising in the mortgage space. However, this doesn't necessarily have to scare you away. Empower Funnels creator Michael McAllister started and built our lead generation system with no prior Mortgage PPC experience. In fact, he bought a book on PPC that he ended up not opening prior to starting his campaign.
We're not necessarily suggesting that you'll be able to do the same in a reasonable enough amount of time to make it make sense for you to do the same, but we are suggesting that you shouldn't overthink the process if you think this is the key to your mortgage business' success and you're not in a position to hire a professional. However, if you think you're ready to take the leap with Mortgage PPC, and want to see what we can do for your business, click the button below to speak to a Mortgage PPC Specialist.
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