Without audience targeting are Google Ads Dead? Think again…
Early this month Google announced new restrictions for targeting specific audiences. The restrictions apply to content related to housing, employment, credit, and those who are disproportionately affected by societal biases. The news of these restrictions created quite a stir among industry brokers and lenders who heavily rely upon targeted Google ad campaigns. All which may have you asking if these changes will kill future reverse mortgage advertising on the world’s most popular search engine. In just a moment we’ll hear from our online SEO expert Josh Johnson to find out.
The harvest is great but the workers are few
Seeing the potential of something with such incredible benefit but lacking the workforce to spread the word must be frustrating. Reverse mortgage professionals can certainly empathize.
And speaking of a workforce one of the challenges that have restrained our industry’s ability to gain market share in the last decade is the loss of large distribution channels. Namely the loss of big national-brand banks such as Wells Fargo, Bank of America, and others. While we certainly are not anticipating the return of big banks other more modest distribution opportunities should not be overlooked. One of those currently being touted is traditional or forward originators who have seen their pipeline of refinances and purchase mortgages collapse.
While there’s certainly some potential in finding new originators among our traditional counterparts, the piecemeal inclusion of HECM loans is unlikely to generate a significant spike in application volume or market penetration.