Each month, I perform an analysis of search trends across various search engines. The data unveils a startling reality — over 673,000 UK consumers actively sought out “mortgage calculator” just last month, whilst only 3,600 searched for mortgage advice. It’s evident that consumer priorities have shifted.
I’ve observed first-hand that our industry relies heavily on introducers, word-of-mouth recommendations, and targeted advertising to generate business. While these strategies remain effective, the dramatic disparity between the interest in calculators and mortgage advice highlights an additional opportunity.
Today’s Home Buyer Journey Commences Online
We live in an increasingly self-service dominated world, where consumers perform extensive independent research before consulting experts. We checkout our own groceries at markets, compare prices instantly online, and dive into crowdsourced reviews before booking hotels or restaurants.
The path customers now take when seeking mortgage advice aligns to a similar autonomous pattern. Initial explorations begin through self-education on options personalised to financial situations and home buying goals. Consumers want to arm themselves with knowledge before conversations with an adviser.
The reality is that today’s homebuyers have likely already explored options before contacting an adviser. The intent to purchase a home comes before considering the actual mortgage. Consumers don’t decide to buy a house just because they saw an advert for a local mortgage adviser – the initial motivation is already there.
Search engines provide a great place to connect with homebuying-focused prospects who have existing intent. The data shows a clear pattern of self-directed online research into rates, types, and eligibility occurring first, before reaching out to a mortgage adviser via call or email.
This preference means advisers who can guide and support consumers earlier during initial digital exploration phases will have an advantage in building connections. Identifying opportunities to assist homebuying journeys right from preparatory research stages through purchase completion should be part of every modern mortgage advisory strategy.
The key is figuring out how to effectively attract, engage and convert website visitors from the outset while upholding helpful expertise all the way through mortgage finalisation. Aligning convenience and personalisation at each stage – that is how advisers can build relationships in today’s customer journey.
Seizing the Online Opportunity
With droves of home buyers turning to the internet for mortgage research, there is tremendous potential to convert casual curiosity into serious interest. Attracting even a fraction of the hundreds of thousands researching mortgages online to your site opens substantial opportunity to generate new clients.
The key is providing the right kinds of tools and information to nurture engagement. Interactive calculators allow visitors to model and compare mortgage scenarios. Downloadable information and product explainers enable comprehensive self-education. Integrating these resources seamlessly with lead capture forms allows identification and tracking of prospects for follow up nurturing.
It is crucial to capture information responsibly as users interact with their platforms. Integrating research tools with lead generation strategies is essential for a seamless transition of site visitors into potential contacts, while ensuring adherence to data protection, financial promotions, and consumer duty regulations. Such systems are designed to responsibly manage and nurture these contacts, guiding them through a journey that respects both their privacy and their need for information until they are prepared to engage as advised clients.
Here are a few of my top tips to take your online presence to the next level:
Research: Begin by pinpointing search engine opportunities for keywords relevant to the home buying journey. Use tools such as SEMRush and Google Keyword Planner to identify these opportunities.
Visibility: Make your landing page easily discoverable to those searching for mortgage calculators. Achieve this through organic search engine optimisation or by leveraging Search Engine Marketing, which involves paid advertising on platforms like Google and Bing.
Accessibility: Design your website or landing page to be accessible across a variety of devices, adopting a mobile-first approach to ensure optimal viewing on smartphones and tablets.
Relevance: Ensure the content on your landing page directly addresses the user’s search query. If someone searches for a mortgage calculator and lands on a page without one, they’re likely to leave immediately. The relevance of your content to the user’s search is crucial in retaining their interest.
Engagement: Create opportunities to collect information from your site visitors. For instance, you could require users to enter some personal details to use the mortgage calculator. This not only aids in engagement but also helps in gathering valuable lead information.
Patience and Persistence: Recognise that building a successful online strategy takes time. Remain committed, manage your advertising budget wisely, and maintain a long-term nurturing strategy. This ensures that when potential clients are ready to seek mortgage advice, your firm is their go-to choice.
Interactive Tools
The industry is rife with tools that boost website engagement, offering a range of options from bespoke designs to solutions crafted by reputable companies. While these can be costly and technically demanding, I know of a system called Mortgage Quote which offers an effective, simple, and cost-efficient solution. With just a single line of code, you can introduce interactive tools to your mortgage advice website, significantly enhancing user engagement.
The evidence is irrefutable – an increasing number of homebuyers are turning to online resources before seeking advice in person. Our industry must support this digital journey, providing the tools, information, and guidance necessary. Only by doing so can we ensure we become the first point of contact for well-informed, ready-to-act homebuyers.
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