With people across America abiding by stay-at-home orders amid COVID-19, more and more individuals are shifting their attention online. Consumers are using the internet to obtain services to fulfill their needs (including mortgage). As a result, mortgage lenders have seen an influx in online searches and fewer in-person visits. The switch in user behavior has affected lenders across the country very differently.
Within our new white paper, the NestReady team analyzed the website traffic of the top 1500 lenders nationwide to see how they were and are being affected by COVID-19 and the changes in user behavior. Our findings showed that 30% of lenders experienced significant traffic loss during March and April because they relied too heavily on in-branch visits. On the other hand, 71% of lenders saw an increase in their website traffic and visibility during March and April. Read on to discover the percentage of traffic increase lenders experienced during this time.
Percentage of Lenders’ Website Traffic Gain
The majority of lenders analyzed within this study, precisely 1105 of them, experienced an increase in traffic amid the COVID-19 pandemic. The exact jump in traffic varies significantly among the top lenders. Please look at the chart below to see just how much traffic the top lenders gained during March and April.
As you can see from the chart above, there were only 143 lenders who experienced a tiny increase in website traffic. This small increase amounts to anywhere from 0.1% to 4.9%. However, although this percentage is low, the impact, especially for lenders with minimal website audience, is quite significant. The majority of lenders (593) within this data set, experienced an increase in website traffic of 5% to 29.9%. 374 lenders experienced a significant boost in online traffic growth of 30% or more. 178 lenders saw a 30% - 49.9% increase in web traffic, whereas 196 lenders saw an increase in traffic of 50% and more!
Why did Some Lenders Experience Traffic Gain?
Lenders who have experienced and are continuing to see an increase in their website traffic can attribute their success to having an adequate digital marketing strategy. A digital marketing strategy to yield such results must involve keyword research and backlink acquisition to boost website authority and keyword ranking. Lenders with good website authority and a solid keyword ranking for their top keywords and queries continued to and will continue to remain visible for both old and new searches as users shift their mortgage services preferences online.
What can Lenders do if they are Losing Traffic?
If lenders are experiencing a significant loss of traffic amid the pandemic, it would be good to consider investing in a digital marketing strategy. NestReady’s Digital Marketing Services is here to help lenders generate free traffic from the major search engines like Google, Yahoo, and Bing with fool-proof methods like backlink acquisition, keyword ranking research, and search engine optimization.
To learn more about our Digital Marketing Services head on over to our web page!