The second stage of the homebuyer’s journey is the consideration stage, where they move beyond basic awareness of their mortgage needs and options and into active research and evaluation.

In the consideration stage, potential homebuyers:

• Want detailed information, expert advice, and tools to evaluate specific features, benefits, and drawbacks of various mortgage options
• Value social proof and reviews to assess the credibility and reliability of potential lenders

In this article, we’re diving into all aspects of this critical stage in the buyer journey so you can successfully direct prospects to your services.

What questions do buyers have in the consideration stage?

To create the right types of marketing content for potential buyers, we have to understand what questions they need answered.

Questions that define the consideration stage include:

• What do I need in a mortgage?
• How do different mortgage products compare in terms of interest rates, loan terms, and fees?
• How much will my monthly payments be with each mortgage option?
• What are other homebuyers saying about their experiences with different brokers/lenders?

The consideration stage falls between the awareness and decision stages.

While the awareness stage was about recognizing options, the consideration stage moves into evaluating options so buyers can make the best decision.

What is the goal of the consideration stage of the marketing funnel?

For mortgage brokers, lenders, and loan officers, the goal of the consideration stage is four-fold:

• Help buyers narrow down their options
• Provide detailed and comparative information
• Continue to build trust and credibility
• Differentiate your services from your competitors

This means you need to create content that compares your mortgage products and services, demonstrates your honesty and reliability, and emphasizes your unique story and what makes you different.

What is the buyer doing during the consideration stage?

If the buyer was already researching mortgages in the awareness stage, how does this research differ in the consideration stage?

In this stage, buyers are likely to engage in the following actions:

Comparing options

To more deeply understand and compare their mortgage options, buyers are:

• Spending time on different mortgage websites reading articles and watching videos
• Using mortgage calculator and comparison tools
• Reading reviews and testimonials from other homebuyers

Looking for expert advice

To get more detailed information about the mortgage process, buyers might:

• Attend webinars and Q&A sessions hosted by mortgage experts to get in-depth information and ask specific questions
• Seek advice from financial advisors or mortgage brokers to get personalized recommendations
• Download in-depth guides and ebooks that cover specific mortgage products and comparison criteria

Evaluating lender terms and conditions

Choosing a lender is one of the most important parts of the buyer journey.

To make the right decision, buyers will:

• Closely evaluate the interest rates, loan terms, down payment requirements, and fees offered by different lenders
• Compare offers from multiple lenders to identify the best terms and conditions
• Review the quality of the customer service and support
• Look for social proof, such as client testimonials and success stories, to determine credibility and reliability

Considering the financial implications

A mortgage is a major financial decision.

Potential buyers will:

• Use mortgage calculators to determine how much they can afford to borrow and what their monthly payments will be
• Work to understand how different interest rates will affect their long-term financial health and budget

Based on these specific buyer actions in the consideration stage, mortgage professionals can tailor their mortgage marketing ideas to meet their prospects where they are—and help them make the best decisions.

Mortgage marketing strategies for the consideration stage

If your goals are to build trust and differentiate your services from competitors, the following mortgage marketing campaign ideas can help you succeed:

• Email marketing: Create targeted email campaigns based on the buyer’s behaviors and preferences, send out educational content, and use data to provide personalized product recommendations
• Webinars and live videos: Host webinars and live Q&A sessions that allow buyers to ask specific questions and get expert advice in real time—and don’t forget to email follow-up content from the event!
• Ebooks and guides: Create visually appealing, comprehensive guides and ebooks that cover specific mortgage products and comparison criteria, and use these resources as lead magnets in exchange for contact information
• Detailed website content: Create dedicated landing pages for each mortgage product, publish detailed articles and FAQs, and include interactive tools on your website to empower buyers
• Social proof and reviews: Share success stories and testimonials from previous clients who have successfully obtained mortgages through your brokerage, and encourage satisfied clients to leave reviews on popular review platforms and social media channels
• Content marketing: Blogs, videos, and infographics remain important in the consideration stage, but the focus of the content shifts to product comparisons, benefits, and tips that dive deeper into the process
• Personalized consultations: Offer personalized consultations with potential buyers, or assign dedicated advisors to provide ongoing support and guidance

This combination of strategies can help to actively engage and support potential homebuyers during the consideration stage, and move them deeper in the sales funnel.

Remember to track and measure all mortgage marketing campaigns for effectiveness, and adjust as necessary to meet your target audience’s specific needs.

Awareness vs. consideration: What’s the difference?

• Awareness stage: Potential homebuyers need basic information about their options, and aren’t ready to make any decisions or commitments
• Consideration stage: Buyers want detailed information, expert advice, and tools to help them narrow down their options and make informed decisions

To learn more about what your target audience needs at these stages, it can be helpful to just ask!

Send out surveys or ask the prospective and current clients you are in contact with what would be—or would have been—most helpful as they made their decision.

Frequently asked questions: Mortgage marketing in the consideration phase

Schedule a Discovery Call today

Digital marketing allows us to meet people where they are and guide them to you, rather than your competitors.

Kaleidico can help you optimize your mortgage marketing strategy for all stages of the customer journey, so homebuyers can find you—and you can close more loans!