The recent slump in the mortgage industry has left some wondering whether or not top mortgage lenders will be able to afford to spend money on Internet advertising.
Mortgage lenders have traditionally been some of the biggest spenders in terms of search engine marketing, or SEO services, and the good news for them, as well as the consumers who rely on them for home loans, is that revenue put towards paid ad spending, article marketing, and other SEO related services has shown no evidence of ceasing or decreasing.
Advertising based on web search allows marketers to tout their services to people when they look for information and track the response to such commercial messages, said Google’s Jon Kaplan in a recent Reuter’s report. As a result, it (SEO) remains a key outlet for mortgage lenders to cultivate new business leads.
Google’s largest mortgage industry advertisers reportedly spent upwards of $3.5 million apiece on search engine ads in the first quarter.
Tim Armstrong, president of Google’s North American advertising division, explains that even if a market may be weak, the need for certain services, like mortgage lenders, never really decreases.
SEO and Internet marketing services make it easier for current and perspective homeowners to find one another, by increasing the page rank, or results page position, of a particular mortgage lender, realtor, or referral service.
The accessibility, and popularity of Internet-based searches drive the lenders, and the SEO-based companies, to create well thought out campaigns that can withstand both the highs and lows of the ever-changing mortgage climate.
Every single day that someone is looking for a mortgage, Armstrong explains, these campaigns from these financial customers are on 24 hours 7 days, 365 days a year.