Marketing to Millennial Homebuyers
How do I reach Millennial homebuyers? That is a question asked by many a Mortgage Loan Officer. Millennials now represent both the largest generation in America and the largest generational share of homebuyers so there can be no doubt that marketing to Millennial homebuyers will continue to be a hot topic for years to come.
There really is no secret or catch to it. The same principles of marketing that have applied up until now will continue to apply. It is still about delivering the right message, about the right product or service, through the right channel to reach the right person at the right time. What is changing are the channels, but even that isn’t really new as they have been changing for some time. Social media, as we know it today, is not a new invention. Myspace, Facebook, and YouTube have all been popular for more than a decade.
The Millennial generation has been dubbed the “always connected” generation. More than 80% of them sleep with their cell phones next to them so they can quickly receive and react to new information. They have come of age in a world where almost the entirety of human knowledge and understanding is accessible in the palm of their hand and new information is flowing in constant streams all around them. They pick and choose which streams are of interest to them and when they want to access the information.
While this may be different, it is actually better! Remember the “right place…right time…” line up top? Well, the right time is now. It is always now. One of the keys to communicating with Millennials is having the information readily available to answer their questions when they are ready. Be online. Be searchable. And not with the same old static “About Me” and mortgage product web pages! Those pages may provide information but they do not answer specific questions and searches, particularly now with the advancement of voice search, are question-based, not keyword-based. Blogging is great for this because you can write blog posts that answer specific questions and then those posts are always out there just waiting for someone to ask that question.
Social media offers another opportunity. Most successful Mortgage Loan Officers are very good at building rapport with agents and customers. After all, it’s a relationship business. Social media affords you the ability to build rapport with people before you actually meet them! Engaging on Facebook, LinkedIn, Twitter, or other social networks humanizes you and creates a first impression, often before you even know the individual is aware of you or your services. Social media can turn cold leads into warm leads but only if you are active and engaged with your following.