How mortgage brokers can unlock the power of personal video messages

April 1, 2023 By: ameer@trustedteam.com

As a mortgage professional, your job is to help clients navigate the complex and often overwhelming world of home financing. With so many options and considerations to keep in mind, it can be challenging to connect with clients and communicate the value of your services in a way that resonates and stands out in a crowded market.

With so many options available to consumers, it’s important to find ways to connect with potential clients and build trust. By recording a video that is tailored to an individual prospect, you can set yourself apart from others and create a memorable experience.

You can also demonstrate that you are willing to take the time to connect with them on a personal level and, regardless of what profession you are in, this goes a long way towards building trust and establishing a relationship that could lead to a long-term partnership.

According to a recent survey by the Canadian Marketing Association, 73% of Canadian consumers say that personalized experiences with a brand increase their loyalty. Meanwhile, a separate survey by HubSpot found that video is the preferred format for learning about new products or services for 72% of consumers. Clearly, personalized video messages have the potential to have a big impact on customer loyalty and engagement.

We’re going to take a closer look at the power of personal video messaging and why you should consider adding it to your marketing efforts.

What is personal video messaging?

Essentially, personal video messaging involves recording short videos that are tailored to individual clients or prospects.

These videos can be used for a wide range of purposes, which might include introductions to the mortgage agent or broker, information about the mortgage lending process, following up on leads, answering questions, or updates on the status of a client’s application.

Why is video messaging so effective?

At its core, video messaging is a way to connect with clients on a more personal level. By using video to communicate, you can convey your personality, expertise, and passion in a way that’s simply not possible with text-based messaging or phone calls.

Video allows you to show clients who you are, not just what you do. This can be a powerful way to build trust and establish a rapport as it humanizes your digital communications.

Forrester Research found that video is 50 times more likely to appear on the first page of Google search results than text-based content. Additionally, a survey by HubSpot found that 54% of consumers want to see more video content from businesses they support.

Video messaging can be an especially effective tool for reaching clients. Another study by video messaging platform BombBomb found real estate professionals who used video in their marketing efforts experienced a 60% increase in open rates and a 35% increase in response rates compared to those who did not use video.

It allows mortgage professionals to build stronger relationships with their clients as creating personal video messages come across more personal and engaging than written or canned communications, and they can help clients feel like they are getting more individual attention.

But it’s not just about building relationships. Personal video messaging can also help close more deals. BombBomb’s data found that using video in sales communications increased response rates by 81%. That’s a staggering statistic, and it underscores just how effective video can be at capturing someone’s attention and convincing them to take action.

Personal video messaging is also highly adaptable

Mortgage agents and brokers can use it at every stage of the sales funnel, from initial outreach to follow-up after the sale. For example, a mortgage agent might send a personalized video message to a lead who has just filled out an inquiry form, thanking them for their interest and offering to answer any questions they may have.

Later on in the process, the agent might send a video message to update the client on the status of their application, or to offer advice on how to improve their credit score.

How effective are personal video messages?

There are several studies that have shown the power of video in sales and marketing, and here are a few key findings:

• According to a report by Wyzowl, 87% of businesses now use video as a marketing tool, and 83% of marketers say that video provides a good return on investment;
• A study by Vidyard found that personalized video messages had an open rate of
  53%, compared to just 18% for traditional marketing emails; and
• Another study by BombBomb found that video messages had a 43% higher response rate than traditional emails, and they also resulted in higher conversion rates and higher average order values.

How should you use personal video messaging in your marketing efforts?

Here are a few ideas:

• Introductions – Use personal video messaging to introduce yourself to potential clients and give them a sense of who you are and what you bring to the table. This can help you establish a personal connection and build trust from the start.
• Explain the process – Use video to explain the mortgage process in a clear and straightforward way. This can help de-mystify the process for clients and make them feel more comfortable and informed.
• Offer advice – Use video to offer advice and tips on home financing, such as how to improve credit scores or how to save for a down payment. This can be a valuable resource for clients and can help establish you as a thought leader in the industry.
• Follow-ups – Use video messages to follow up with leads and prospects. This can help you stay top of mind and demonstrate your willingness to go the extra mile to win their business and most importantly stand out from your competition.
• Q&A – Use video messages to answer common questions and address common concerns that clients and prospects may have. This can help you streamline your communications and reduce the time you spend answering the same questions over and over again.
• Share success stories – Use video to share stories of clients you’ve helped. This can be a powerful way to demonstrate your expertise and the value of your services.

How can you incorporate video messages into your digital communications?

Here are five best-practice tips:

1. Keep it brief and to the point. Attention spans are shorter than ever these days, so make sure your video message is no longer than it needs to be. Stick to the most important points and try to keep your video between 30 and 60 seconds, as it is the optimal length for maintaining customer engagement. Additionally, shorter videos are likely to be re-watched and shared.

2. Use a conversational tone. Video messages are an opportunity to create a sense of connection with your audience, so don’t be afraid to let your personality shine through. Speak in a conversational tone, as if you were speaking directly to a friend or colleague and start with addressing the person by their name, speak clearly and confidently.
3. Include a clear call-to-action. Whether you’re asking someone to schedule a consultation or follow you on social media, make sure you include a clear call-to-action at the end of your video.
4. Don’t be afraid to experiment. Personal video messaging is a relatively new technology, so there’s no one “right” way to use it. Try out different strategies and see what works best.
5. Choose the right platform. Video messages can be shared in a variety of ways, from email to social media to messaging apps. Think about your audience and what platform they’re most likely to use, and tailor your message accordingly.

Of course, the key to effective video messaging is to make sure it’s personalized and authentic. Avoid generic, canned messages and instead focus on creating content that speaks directly to your audience and showcases your unique personality and expertise.

In summary, incorporating video messages into your digital communications can be a powerful way to re-humanize your interactions with customers and colleagues. By following best practices like keeping your messages brief, using a conversational tone, and choosing the right platform, you can create a sense of connection and engagement that simply can’t be achieved through text-based communications.

So, what should you do after reading this article?

If you’re a mortgage professional, consider incorporating personal video messaging into your marketing efforts. Start by identifying areas where video could be effective, like introductions, follow-ups and Q&A. Then, experiment with different formats and styles to find what works best for you and your clients.

Give it a try and see the impact for yourself!