Social Media Marketing vs. Email Marketing: How To Choose for Generating Mortgage Leads

Most loan officers reply on both social media and email to generate mortgage leads.

But which one is better? With so many consumers on social media these days, you may be wondering whether you should spend more of your time (and marketing budget) on, social media or email.

Over the past decade social media has grown exponentially and has become a major fixture in the online marketing landscape. It’s here to stay and you should use it your marketing strategies.

But email marketing is still ahead of social media.

Here is why:

1. There’s only one medium with email and there are several (Twitter, Facebook, Instagram, LinkedIn, Tiktok etc.) with social media. Which ultimately means you need to spend less time on email.
2. It also gives you opportunity to speak directly (one on one) with your prospect loan buyer.
3. You have more time to get the attention of the end user. Average person spends 30 hours a week looking at email (vs. ~14 hours a week on social media).
4. Email has been around for quite a bit longer than social media. People are more familiar and depending on your client demographics might be the best medium to use for your next marketing campaign. It has a bigger user base. The Statista estimates that by the end of 2018, more than 3.8 billion people worldwide will use email. “In 2020, the number of global e-mail users amounted to four billion and is set to grow to 4.6 billion users in 2025.”
5. Roughly there will be 281.1 billion emails are going to be sent or received in 2018.
6. Email marketing has the highest ROI. The median ROI for email is 122%. Social media comes in at a second place, with a ROI of just 28%.
7. Almost 60% of internet users check their email inbox first thing in the morning, before checking at their Facebook, Twitter or other social media accounts.

So if you have to choose one that would be email marketing but mortgage online marketing can’t afford to ignore social media.