Over 60% of mortgage brokers say that social media, particularly Instagram reels and TikTok videos, now generate higher quality leads than traditional cold calling. Also, over 50% of real estate professionals say that social media provides the highest number and best quality of leads.
These stats are reflective of a movement that’s been happening over the last two decades where consumers have increasingly gravitated towards online reviews for recommendations, giving them nearly the same weight as personal recommendations. This means that mortgage and real estate industry company leaders must view social platforms as core trust-building assets. The challenge is that the social landscape is crowded with many companies and individuals in these sectors fighting for position. Therefore, success requires expertise and a great strategy to ensure you stand out. To be direct, social media engagement is not something you can entrust to anyone willing to jump in and check the box. Treating it with such little importance could well hurt you instead of help you.
This article will cover the imperative of developing trust and credibility for you and your company through social media – and the common mistakes to avoid.
The Modern Trust Gap
There is a trust gap today that needs to be closed. For many company leaders in the mortgage and real estate industries, the digital landscape presents a formidable challenge. And this challenge runs deeper than just lead generation. It’s about building a reputation that can withstand changes in the marketplace and build a loyal client base. Engagement on social media platforms with a strong strategy that builds authority and community around your brand must be a priority if you are going to exist in the market and thrive.
Here are some examples of the most common mistakes we see people and their teams making on social media channels:
Example 1: The “Set it & Forget it” mentality: This concept has become widely popularized as the way to scale growth and trust. The only problem is it doesn’t work. Here’s why. The failure of this concept lies in that social media profiles become billboards with bland, purely promotional content, rather than being used as the dynamic platforms they are to engage and build community through sharing insights, answering questions, or sharing trends.
Example 2: The “Spray & Pray” approach: This happens when you operate under the misguided notion that you can blast generic messages out to your high-value audience, whether relevant at the individual level or not, and expect to build relationships, much less receive any engagement. Practitioners of this approach use generic, transactionally- oriented content that doesn’t accurately target and speak to the needs and pain points of different segments.
Example 3: The “Over-reliance on Ads” method: Paid ads may be effective for short-term gains, but they don’t form relationships that build the kind of trust and community around your brand that can lead to increased market share and referrals. Companies and their teams need to put the focus on education, culture, and content demonstrating their industry connection and thought leadership. This is what builds trust. And then the advertising keeps you visible. The two together drive more opportunities for growth.
Two Key Social Media Strategies for Building Trust
Trust isn’t given; it’s earned. And it needs to be earned with intention. Here are two strategies you can act on immediately to help you build trust and credibility on social platforms like LinkedIn, Instagram, Facebook, TikTok, Threads and others.
1) Authoritative Content Creation and Curation: Sharing educational and insightful content with your audience builds trust because it helps them understand your expertise and connection with the industry – helping you to become viewed as a helpful resource. This is a primary strategy because it provides value to your audience and encourages engagement, which is much better than any sales pitch.
Content that falls into this category can include economic or industry updates that impact housing, “how to” content, opinion pieces on recent industry or economic news impacting the market, data, speaking engagement announcements, or any media features or quotes.
Here are some tips:
- Pick up to five content topics you can put on rotation such as industry insights, client stories, educational content, market trends – there are many you can choose from.
- Blend macro-level content with micro insights.
- Offer short insights or headlines on timely topics.
- Share client wins or any unique challenges you overcame.
- Commit to a publishing cadence, ideally 3 to 5 times per week, or whatever is comfortable for you.
2) Proactive Engagement & Community Building: Social media is rooted in engaging in social activity. When you go to a gathering, whether it’s a networking event, party, or getting together with friends or family, you wouldn’t turn yourself into a megaphone and walk around making one-way statements to people that don’t invite or desire meaningful engagement. That would make you look ridiculous and untrustworthy because people would never get to know you.
Engaging well on social media channels accomplishes several key things that will drive your success:
- Builds relationships
- Boosts your visibility
- Builds trust
- Humanizes your brand
You want to be viewed as someone who encourages a community where people can feel seen and not just marketed to. So, next time you go to your feed, pay attention to what other people are posting and provide your insight, opinion or some support so the community can come to recognize who you are, how you think, and what you know. Also, respond to comments, go live or host webinars, start conversations in your comments, and take advantage of polls/surveys.
Building trust isn’t just about what you say, it’s about showing up and being consistent. This is what audiences really respond to. Posting every now and then weakens the positioning you are trying to build. Showing up and having that consistency requires a strategy so that you stay on track and on message which drives long-term momentum.
Once you have your rhythm down, you’re ready to start implementing more advanced tactics like storytelling through client wins, activating internal influencers and optimizing your posts and strategy with data – all which will be covered in my next article, “3 Next-Level Social Media Strategies to Build a Magnetic Brand in Mortgage & Real Estate.”
If you need some help, reach out to us so we can audit your social media presence to identify some quick wins for your team.