Embrace the power of social media for your business

In a recent survey, we quizzed mortgage advisers about their 2024 game plan. Guess what? 68% are gearing up to unleash the power of social media – not just for sharing adorable pet pics but as a serious, lead generation tool!

In this blog, we’re spilling the beans on strategies, statistics, and the secret sauce for mortgage brokers to dominate the social media game.

Best practice

Know your audience

With over 57 million users[1] on social media in the UK, around half of them are aged between 30 and 49, and around 25% fall into the 18-29[2] age bracket.

Seems like your target market is already there. Tailor your content to serve up valuable mortgage insights that resonate with them and watch engagement skyrocket.

Choose the right platforms

Each platform has its own strengths. Mix and match to find what works best for you.

LinkedIn is a professional network for serious B2B connections, while platforms like Facebook and Instagram offer a more casual environment for engaging with a broader audience. X can be effective for real-time updates and industry news or create a YouTube channel to host short-form videos with an educational vibe.

Visualise to maximise

Images and videos can mean engagement gold! Tweets with photos get 35% more retweets on average and Facebook posts with an image see an increase in engagement of 37%[3] over text-only posts. But keep in mind the popularity of short-form video. 73% of consumers prefer this format when searching for products or services[4].

Create visually appealing content that showcases your expertise, explains complex mortgage concepts in simple terms, and highlights success stories. Infographics, explainer videos, and client testimonials can be powerful tools to capture attention. Visual appeal is your ticket to capturing attention and leaving a lasting impression.

Get engaged

Social media is not a one-way street – it’s a buzzing four-lane motorway. Take time to actively engage with your audience, respond to comments and messages, and also get involved in conversations on topics within your industry. Building trust is the name of the game.

Educate

Position yourself as the mortgage maestro! Educate your audience with industry insights, explain complex terms in simple language, and offer tips for first-time buyers. Show off your expertise and sprinkle in a bit of entertainment to keep things lively!

Paid advertising

Do you advertise your business in the local press? Why not pour your budget into social media ads? That way you can target your dream demographic with pinpoint precision, enjoy increased visibility, and track performance effortlessly. It’s a win-win for your brand!

Take a deep dive

So how do you know your strategy is working? Measure, analyse, repeat.  Study your social media efforts to find out what works and what doesn’t to avoid wasting time on what falls flat. Analytics tools help give insight into post engagement, audience demographics, and the effectiveness of your campaigns.

Which channel?

It’s time to kickstart the growth of your business, connect with potential leads, and engage with your amazing customers. Let’s explore some popular options while keeping in mind the practices.

Firstly, remember that all channels have some basic steps in common that you need to action:

• Start by creating a business account.
• Make sure to optimise your profile for the best results.
• Take the time to understand your target audience and what they’re looking for.
• Get familiar with the channel’s algorithm to maximise your reach.
• Take inspiration from your competitors and see what’s working for them.
• Plan out a content strategy that will truly make an impact. Aim to post around three times a week, if you can. Little and often is better than occasional lengthy posts. Consistency is key.
• Regularly analyse your performance, experiment with new ideas, and stick with what’s bringing you success.

With these steps in mind, you’ll be well on your way to growing your business and making meaningful connections with your audience.

Facebook: With over 50% of the entire UK population on Facebook (that’s 34.4 million potential connections), it’s a goldmine. Use paid advertising to hit your target demographic and showcase your mortgage prowess. Engage, build trust, and turn satisfied customers into raving fans!

Read on for more details

LinkedIn: In the vast social media galaxy, LinkedIn is your professional playground. Build connections, showcase your expertise, and gain credibility. Optimise your profile, sprinkle in some keywords, and post content that captivates your B2B audience.

Read on for more details

Instagram: With 28.75 million users ready to be inspired, Instagram is your visual playground. Optimise your business profile, stay on-brand, and post eye-catching content regularly. Quotes, promotions, testimonials – let the visual feast begin!

Read on for more details

YouTube: The second-largest search engine behind Google, YouTube is your video haven. Optimize your videos, create relevant content, and adhere to the algorithm’s preferences. Post weekly, but quality and relevance rule supreme.

Read on for more details

Deeper Dive

Think some of these social media channels might work for you?  Read on below for more information.

Facebook

Let’s make your business shine and give potential customers a glimpse into what makes it special! Here’s a friendly guide to help you make the most of this channel:

• Start by setting up a dedicated business page – it’s the perfect place to showcase your brand!
• Link it to your company website so visitors can easily learn more about you.
• Don’t forget to add your contact details and opening hours for convenience.
• Spice things up by changing the call-to-action button to encourage interactions or purchases.
• Engage your audience with captivating GIFs and videos – they’re sure to grab attention!

Just over 50% of the entire UK population are Facebook users[5]. Let that sink in. That’s a whopping 34.4 million people! With Facebook’s paid advertising options, you can precisely target the audience you want to reach. It’s like having a personalised marketing superpower!

For instance, the average age of UK first-time buyers is now 31[6]. Target that demographic with advertising for first-time buyer products in your location and share helpful tips and insights tailored just for them to really hit the mark.

One way to build trust and a good reputation is to encourage satisfied customers to leave reviews on your Facebook page. Addressing any concerns shows your dedication to customer satisfaction and helps build a stellar reputation.

Wondering what to post? Start by promoting your website with a captivating post. Showcase your business’s story or share behind-the-scenes content to give followers a peek into your world. Engage with your audience by asking questions and responding to comments – it shows you’re there and you care, and that could generate leads.

Sharing stories about your business or behind-the-scenes content can help users understand how your business operates which will promote trust.

Asking questions of your followers boosts engagement and gives you insight into your customers’ mindset. Try to respond to comments so they know you’re listening.

Stay current by sharing industry news and updates, it’s a great way to keep your followers informed and engaged. Consider creating your own Facebook group where you can foster discussions and host Q&A sessions. It’s a fantastic way to connect with potential customers on a deeper level.

Join groups local to you. For instance, parent network groups often ask for recommendations for a good local mortgage broker! And don’t forget to go into your settings and enable Facebook Recommendations. Encouraging some of your happy customers to leave a good review and recommend your business will attract more potential customers and strengthen your online reputation.

Recommended posting – 1-2 times per day[7]. Find a complete guide to Facebook marketing here.

LinkedIn

In the vast realm of social media, LinkedIn is the place to build connections and showcase your professional expertise with a good dollop of personality. It’s an excellent way to gain credibility for your business and build awareness for your brand. Build a professional network, promote yourself, and connect with your peers.

Start by crafting your company page and profile, it’s your digital storefront! And hey, if you’ve got a team behind you, get them involved too. Encourage them to share and like posts, turning them into awesome brand advocates.

You can find a comprehensive guide to setting up your LinkedIn company page here.

Then think about making your page more search engine friendly. You can do this by:

• Add a sprinkle of keywords to your tag line and ‘About’ section
• Make sure you complete your business profile and add relevant links and company details
• Post informational and educational pieces that engage your target market
• Frequently update your page with fresh content. Search engines like that.

LinkedIn has become more human over recent years so while it’s great to share company news and job opportunities, don’t be afraid to let your personality shine through. Ask thought-provoking questions, share behind-the-scenes stories, and yes, embrace the power of video, it’s a real attention-grabber!

LinkedIn recommend posting 3-5 times a week but experiment with days and times and gauge when your posts get more engagement. There are currently 35m active users on LinkedIn in the UK[8], so go, start connecting!

Instagram

Whilst not having quite as many users as Facebook, Instagram can still boast 28.75 million users in the UK[9]  and it’s worth noting that 70% of users look to Instagram to find inspiration for their next purchase and to discover new products. They want ideas that will add that touch of luxury to their home, maybe through renovation or dreaming of their next big move. Hello, mortgage opportunities!

If you’re looking to connect with a younger crowd, Instagram is where it’s at. With over 56% of 16-24 year-olds and the second most likely group being 25-34 year-olds[10], it’s the perfect playground for targeting that youthful energy.

Again, setting up a business account rather than using a personal account is key. It gives your profile a polished professional look and followers can find more ways to contact you. And it’s all about engagement! Note that you first need to set up a personal profile and then switch to business.

Take time to optimise your profile:

• Stay on-brand and add your logo rather than a photo.
• Display the same business name as you do on other social channels.
• Your username should be your business name.
• You can use up to five URLs in your profile but make sure at least one is your company website.
• Add a killer bio – you 150 characters to share what your business does and who it serves.

Now, when it comes to content, Instagram is all about the visuals! Get creative and start posting reels, stories, and eye-catching images to boost your brand’s recognition. Here are some ideas to get you started:

• Quotes and interesting statistics from our industry
• Product promotions
• Testimonials from happy clients
• Current event posts, like free mortgage reviews.

And don’t be afraid to throw in some humorous or light-hearted images and videos to show the human side of your business. All these can be in the form of carousels, reels, or static posts.

Try and post at least three times per week[11]. You can find an in-depth guide to using Instagram for business here.

YouTube

YouTube is more than just a video platform, it’s a whole world of discovery. Did you know it’s the second-largest search engine behind Google? That’s because users looking for a video on a topic will go straight to YouTube.  That makes it super-important to optimise your videos to rank higher in search results.

In the UK 44% of users are aged between 25-44 years old[12] and this channel now plays a big part in the content strategy of businesses. It’s an excellent way to connect with your audience and give them value.

When it comes to video length, aim for that sweet spot between 7 to 15 minutes. But here’s the thing, it’s not just about uploading videos and calling it a day. YouTube has its own special algorithm, and it’s this magical formula that recommends videos to your audience. That drives a staggering 70% of what people watch on the platform.

So bear in mind it’s not what’s in your video that drives traffic to you, the algorithm doesn’t consider that in 2024, it pays more attention to viewers and these metrics:

• Does it get watched?
• How long is it viewed for?
• Did it get any ‘Likes’?
• Time of day and language also play a part

These will determine if your video gets recommended to other viewers.

If users are searching for a topic such as ‘green mortgages’ the algorithm will use elements such as relevance, engagement, quality, and user search and watch history to decide where your video will appear in rankings.

So, the key here is to make sure your content speaks directly to your intended audience. While it’s recommended to post once a week to help grow your channel, remember – it’s all about quality over quantity!

You can find a complete guide to YouTube Marketing here.

Conclusion

We’ve looked here at the four main channels for your social media strategy but of course, there are more, like X (formerly Twitter), TikTok, Snapchat, and Pinterest. It all boils down to the type of content you think will best appeal to your target audience and the sort of content strategy you want to use.

Social media has become an absolute game-changer for mortgage brokers looking to grow their business and connect with clients across the UK!

By really getting to know what makes your target audience tick, creating content that’s as engaging as it is informative, and tapping into those oh-so-helpful data insights, you’re setting yourself up for some serious success in today’s digital landscape. Turn those likes, shares, and comments into real-deal mortgage opportunities. It’s time to make your mark and watch your business soar to new heights!