NestReady, Boston, a technology firm that develops platforms to put lenders at the center of the home buying process, released its 2019 Marketing Technology Report, finding when compared to other industries such as retail, lenders are significantly behind other industries in the use of the technology.
"In today's competitive age, lenders need to leverage the proper digital marketing tools and channels to attract and retain customers," said Mauro Repacci, co-founder and CEO of NestReady. "By understanding how some of the larger lenders are using technology for their business growth, other lenders can learn how to improve their businesses and attract a larger customer base."
Other survey findings of 500 lenders include:
- 60 percent use audience data platforms to help them understand consumers' behavior and interests.
- 55 percent are leveraging cross-channel display advertising platforms, which enable them to run hyper-targeted campaigns with advanced bidding methods across multiple channels.
- More than 56 percent use a tag management solution to deploy various marketing technologies across their websites from a centralized location.
- Just under 50 percent are leveraging a dedicated retargeting platform. Google and Bing retargeting dominate this category with 42 percent of surveyed lenders using at least one of them.