Build Your Reverse Mortgage Business With These Tips

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February 22, 2018 | By RGR Marketing Blog

Your Audience Is Changing, So Your Mortgage Marketing Needs to Change Too

Reverse mortgages are popular among one population group – the elderly. But just because your reverse mortgage company is primarily marketing to this group, it doesn’t mean that the mindset of that population is static. The truth is, members of the “Greatest Generation” are becoming fewer in numbers while those in the “Baby Boomer” generation are starting to enter their golden years, making them more likely to consider reverse mortgages.

Because of this shift in your audience, it is important to be mindful of the differences between these generations, so you can build your business with the future in mind. If you haven’t been pulling in the number of customers you would like, there are some things you can do to help attract more potential customers. Here are some tips to help you build you reverse mortgage company in today’s competitive market.

Diverse Marketing Is More Important Than Ever

The Greatest Generation was largely made up of white, patriotic, and financially steadfast seniors. This made marketing relatively easy because messages didn’t need to vary much. But, it can’t be denied that the Baby Boomer generation is much more diverse than the one that came before it. It includes more races and ethnicities and, its age range is considerably wider.

As a result, keeping this diversity in mind when creating your marketing strategies is important so you’re not ignoring any potential opportunities.

Today’s Seniors Don’t Want to Be Spoken to as Seniors

Today’s seniors often feel much younger than their years, so they can be off-put by speech or content that makes them feel their age. Seniors prefer to be addressed as regular everyday adults, rather than having sentences simplified for “better understanding.” They deserve your respect and in doing so, you’ll receive theirs.

Celebrity Spokespeople Are Out

The reverse mortgage market has been inundated with celebrity spokespeople like Fred Thompson, Robert Wagner, Henry Winkler, and Tom Selleck. But, these types of spokespeople don’t necessarily carry the same amount of weight with Baby Boomers as they did with the Greatest Generation.

In fact, having a celebrity endorse your reverse mortgage company can work against you because Baby Boomers are much more skeptical of sales gimmicks and celebrity spokespeople. Concentrating on the needs of the borrower in reverse mortgage marketing is proving to be the way of the future.

Start Implementing Digital Marketing

With every new generation comes an increased emphasis on technology. And, while Baby Boomers aren’t exactly the most tech-savvy, they’re more inclined to use it than those in the Greatest Generation. In addition, the older edge of Generation X is now entering their mid-50s, meaning they’re inching closer to the age of reverse mortgage eligibility.

By implementing a digital strategy now, you’ll be able to attract Internet-using Baby Boomers while at the same time setting your business up for your future customers.

Remember the Value Proposition

You can reach potential customers using tried-and-true avenues like direct mail, strategic radio or TV spots, and print advertising as well as new methods like targeted email blasts, social media marketing, and other forms of online marketing, but one thing needs to be consistent no matter which you choose – you need to maintain a core message that’s built on the value proposition.

In other words, you need to show seniors how and why your product will be able to improve their financial health and their comfort as they age. These two areas are all-important. If you aren’t focusing on them in your current marketing, then you’re sending the wrong message and that’s why your business isn’t growing at the pace you want.

Ready to give your mortgage business a quick boost in 2018? While you’re sorting out your new messaging to gain momentum in the reverse mortgage arena, why not consider putting aside some marketing budget to buy high quality, exclusive mortgage leads from RGR Marketing? We’ll walk you through each step of the process today and get you started working quality leads asap.

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Your Audience Is Changing, So Your Mortgage Marketing Needs to Change Too

Diverse Marketing Is More Important Than Ever

Today’s Seniors Don’t Want to Be Spoken to as Seniors

Celebrity Spokespeople Are Out

Start Implementing Digital Marketing

Remember the Value Proposition

Start making more
money today!

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Your Audience Is Changing, So Your Mortgage Marketing Needs to Change Too

Diverse Marketing Is More Important Than Ever

Today’s Seniors Don’t Want to Be Spoken to as Seniors

Celebrity Spokespeople Are Out

Start Implementing Digital Marketing

Remember the Value Proposition

Start making more money today!

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