Leads not likes: using social media properly

Popularity and profitability are often confused and it can be tricky for brokers who are personal ‘consumers’ of social media hoping their personal posts get ‘likes’ to understand where the real value lies in promoting their business. The genuine measure of success is leads and not likes.

Unless your social media activity promotes your brand in a positive way and helps generate leads then it is at best wasted effort and at worst can have a negative impact.

Since we launched our digital marketing package for brokers earlier in the year one of the most common pieces of feedback from brokers is their sudden realisation of how social media as a business tool is a very different animal to social media as a personal tool.

Getting ‘likes’ really isn't that difficult. Simply wander down your local high street wearing nothing but a smile and I guarantee you'll get a lot of views and likes; but not a lot of business. Well, not the type of business that we can discuss here!

This is an extreme example but it's a valid point. Too many brokers waste a significant amount of time and effort trying to be ‘popular’ to a mass of people or an audience that are simply never going to be their customers. It might be quite exciting to see one of your posts get thousands, or tens of thousands of likes but if it doesn’t deliver a single new client then it really doesn’t matter.

Brokers need to compartmentalise their work and home social media activity and this starts by establishes their business goals and their preferred route to market and target channels.

It is a hugely valuable to take the time to think carefully about your initial brand set up which includes your logo and brand guidelines to establish the look and feel of the business. If you specialise in equity release products then images featuring older people are more likely to strike a chord with those viewing your content. Similarly, if you embark on a campaign to target first-time buyers then choosing appropriate images will offer reassurance to those uncertain about taking their first steps on the housing ladder.

Social media is also instant and this can be both a positive and a negative. Content can be posted in just seconds via phones and tablets but brokers need to remain vigilant to ensure that information on their website and social media content is in line with financial promotion regulations. However, that said, regular, topical posts can showcase your market knowledge and examples of other clients you have helped will attract new borrowers.

It is a tremendously worthwhile exercise to ‘walk the course’ through the eyes of your potential clients. How would you search for a broker? What information would you like to see on their profile? What images will endear you to them? It’s an old adage that ‘people buy people’ and social media provides brokers with an exceptional shop window to present themselves to potential clients. Photos of parties, hobbies and sports affiliations should remain firmly on a personal page with the understanding that this page might also be visible to a potential client.

Potential borrowers are simply looking for a trustworthy, professional and personable broker to help them with the biggest financial decision of their life and social media can be your opportunity to shine.

Social media is nothing to be scared of and can have tremendous benefits for a mortgage broker in differentiating themselves from their competitors and driving new business enquiries. Just make sure that you’re focused on leads not likes.