Digital advertising is a crucial component for any lender who wants to generate mortgage leads. But whether you’re on your first campaign, or your 100th, it can be difficult to gauge the success and efficiency of your loan officer advertising. Are you paying too much to generate mortgage leads? How do your marketing efforts stack up against your competitors?
Before answering these questions, however, you should first consider the building blocks of your ad campaigns: keywords.
To understand what loan officers should expect from paid real estate keywords, NestReady created a “Performance Benchmark Cheat Sheet” that examines demand, cost, and volume for popular loan officer lead generation keywords. Read on to learn how to select and leverage real estate keywords for mortgage lead generation.
Generate Mortgage Leads Through The Real Estate Keyword Landscape
Real estate is inherently local, which means real estate keywords are also local. With that in mind, the average cost-per-click for digital ad campaigns in the United States varies significantly from state to state and region to region. In Wyoming, for instance, the average CPC for paid search campaigns is just $0.72, while California has the highest CPC at $3.49.
That said, however, some real estate keywords can deviate from these averages quite significantly. For instance, the term “home” costs nearly $48 on average per click, while “sell my house quickly” and “sell my house fast” have CPCs that exceed $25. Fortunately, many of the most expensive real estate keywords are related to selling a home. Plus, lenders searching for homebuyers in their area will likely target more local keywords, which tend to cost less.
Another bright spot for loan officers: demand for real estate keywords is extremely high among consumers. In fact, the real estate category is second only to “Home & Garden,” with huge search volume around home buying and renting topics.
3 Tips for Choosing Your Real Estate Keywords
Here are some tips for bidding on and building paid search and display campaigns with real estate keywords.
- Get specific by targeting long tail keywords. To keep your CPC low and limit clicks to the most qualified homebuyers, be sure to bid for exact terms and “long tail” combinations, especially if your ad budget is limited. For instance, instead of “sacramento homes,” opt for something like, “tahoe park sacramento multifamily homes.”
- Use negative keywords to target your audience. Not everyone who is searching for real estate in your area is interested in a mortgage loan. For instance, many consumers are searching for rental properties, which have little relevance for mortgage lenders. To ensure that your ads are shown to the right people, use the negative keyword list feature in your keyword planner tool of choice to exclude undesired terms from your keyword bids.
- Be prepared to pay big money for general keywords. Again, every market is different, and some areas are especially competitive, even for location-specific keywords. If you're planning to bid on short keywords that include the words "home" or "house," be prepared to pay anywhere from $10-25 for a single click.
Get the Full Ad Performance Benchmarks Report
To learn more about how to plan and measure the success of your digital advertising campaigns, be sure to download NestReady’s complete “Performance Benchmark Cheat Sheet” report. It covers average cost-per-click, conversion rates, and more for paid search and display advertising in the real estate and finance industries across the United States. Click here to get your copy of the report.
At NestReady, our white-label solutions integrate all aspects of the home-buying journey, providing a simple, seamless way for lenders, buyers, and agents to interact throughout every stage if the process. The result is an experience that’s richer, easier, faster and, perhaps most importantly, more satisfying for everyone. If you’re ready to learn how our digital platform can help you grow your lending business, visit our site to schedule your free demo today.