NestReady, a technology firm that develops platforms to put lenders at the center of the homebuying process, released its 2019 Marketing Technology Report today. The report is based on a survey of the use of digital marketing technologies by mortgage lenders this year.
NestReady surveyed 500 of the largest mortgage lenders in the U.S. about 350 different digital marketing platforms in 11 categories. The categories included web analytics, audience data management (DMPs), media buying/demand-side platforms (DPSs), cross-channel retargeting, digital ad exchanges, A/B testing and content/conversion optimization, live chat, marketing automation, video platforms, tag management solutions and social media tools. When compared to other industries such as retail, the results concluded that 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.”
Some other survey findings from the top U.S. mortgage 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
“It is important to look at the systems being used and seriously considered how we can increase efficiencies while providing better customer service,” Repacci said. “We need to learn from other industries when it comes to harnessing technology.”
The Mortgage Technology Report, including detailed analysis and takeaways is available here.