Social Media Marketing for Loan Officers: Measuring Effectiveness

Social Media Marketing for Loan Officers: Measuring Effectiveness

social media marketing

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The Impact of Social Media

When you’re a loan officer, part of your work relies on creating, building, and maintaining relationships with clients and other professionals. And that means getting your message out there for all to read. For an all-encompassing marketing strategy, you probably rely on a variety of media methods, and given the rise of technology, you could be using social media marketing more and more.

social media marketing

Photo Credit: iStock photo

But simply using social media isn’t enough. Do you know how well your social media marketing campaigns are working? Knowing who sees your social media and what they do with it will help you learn where you are successful and identify those areas that you need to tweak.

Forms of Social Media

Before you can attempt to measure the effectiveness of using social media, you first need to list all of the types of social media – LinkedIn, Facebook, and Twitter, for example – that you use. List everything that you have ever used and try to list them in order of usage.

What are Your Goals?

OK, so that first step was easy. But you need to know your complete list of social media platforms for the next step of measuring effectiveness: what are you trying to achieve? You can use each social media platform to create a different, and unique, reach which will heighten its effectiveness.

Using social media just for its own sake is not making the most of its power. Jot down how you use each platform. Do you use LinkedIn to connect with other professionals, use a web site to create comprehensive information, and Twitter for quick engagement? Or do you do you use a mishmash of social media without any clear picture?

How Do You Know if Your Social Media is Effective?

Next, you need to determine if your current usage of social media marketing is actually effective. But you can only measure that once you have established your goals for each platform.

For example, if you want to increase traffic to your website, then you need to track access to your landing pages, measure clicks, and the frequency of subscribers and requests for information.

Or, if you want to measure how well you are engaging with your clients, then you need to track questions, comments, replies, and re-tweets.

If you aim to track your brand, then you need to compare your volume of online conversations and contributions to those of your closest competitors.

Using analytics programs, you can gauge current usage, compare the change over time, and change your campaign efforts accordingly.

The Necessity of Social Media

Incorporating social media into your marketing efforts is one phase in an overall marketing campaign. But to determine how effective your use of social media is, you need to figure out what you actually use, what you want to do, and how close you come to achieving those goals. Take the time to research your usage and then monitor the results to that you can refine your edge to provide the best information and services to those who seek it.

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