last Updated 2 March 2023

How to Find the Right Keywords to Generate Mortgage Leads With Google Ads

A lot of mortgage brokers who use Google Ads struggle to find the right keywords to use. And because they end up choosing the wrong ones, they find their cost per lead is too high or that they don’t get any leads at all.

So in this article, I’m going to share three ways to make sure you choose the right keywords for your Google Ads campaign if you’re a mortgage broker looking to generate more leads from your own website.


Think like a mortgage client

What’s the difference between a bad credit mortgage and an adverse credit mortgage?

Not sure?

Well, the difference is that one of them is what your potential clients might search for on Google and one of them is something you’ll only hear mortgage brokers talking about.

Adverse credit is an example of an industry term which you and I understand but which isn’t widely used by the man or woman in the street.

And just understanding that subtle difference can have a big impact on how well your Google Ads perform if you’re targeting people in the adverse market.

Because your Google Ads campaign will perform much better and generate you more leads if you use the kind of keywords your potential clients would use, rather than the ones you’d use when you’re talking to a lender or to a colleague in the office.

- How to Find the Right Keywords to Generate Mortgage Leads With Google Ads

My most extreme example of the importance of using the same language as your customers in your keywords happened many years ago when I had a lawyer client who specialised in clinical negligence claims.

Basically, he helped patients who had been the victims of botched hospital operations to claim compensation for whatever damage their surgeon had done.

But the only people who knew the term “clinical negligence” were other solicitors (and doctors, presumably). And the cost per click for that keyword was really high because it was the main one that all the other injury solicitors were bidding on.

What I realised was that the average person was more likely to search on Google for “sue the NHS”. And the cost per click for that was WAY lower because the competitors hadn’t thought to bid on that keyword.

My solicitor client did very well out of that one brainwave of mine for quite a while… until the rest of the industry cottoned on to what we were doing and decided to copy us (this is one reason why the job of running a Google Ads campaign is never finished).

Picking keywords based on the sort of language your customers would use rather than on industry terminology is just one of the ways that your choice of keywords can help you get better results from Google Ads.


Think about search intent

- How to Find the Right Keywords to Generate Mortgage Leads With Google Ads

Another thing to keep in mind is what we call search intent.

In other words, if someone types a particular query into Google, what’s their intention? 

And some searches make the intent much clearer than others.

For example, someone who searches on Google for “mortgage adviser” is showing a clear intent to speak to someone - because they have used the word adviser.

But what about someone who searches for “mortgage advice”.

If you’re a mortgage broker, that person may be a potential client looking to speak to you. On the other hand, they may just be someone who is doing their own research and looking for some mortgage advice articles online.

So if you only want to attract people who are ready to speak to you right now, then you need to restrict your choice of keywords so you only use the ones that show the highest level of intent.


 Get specific

Suppose you’re wanting to use Google Ads to get more protection clients. It would be tempting to go after keywords like “insurance quotes” or “protection adviser”.

But those are the type of keywords that are more likely to be used by people who don’t have a very specific need and/or who don’t have much idea yet what they’re looking for.

So try being more specific.

Target keywords such as “life insurance advice” or “income protection quotes” as these keywords will be used by people who already know what kind of cover they want. In other words, they are further down the keyword funnel and hence are likely to cost you less per lead.

Better still, go really specific with things like “income protection for firefighters” or “critical illness cover for asthmatics”. You’ll have fewer competitors bidding against you, so the cost per click will be lower and your conversion rates are likely to be higher too.

- How to Find the Right Keywords to Generate Mortgage Leads With Google Ads

Mortgage Broker Google Ads Case Study

A couple of months ago, I helped one of my mortgage broker clients set up a Google Ads campaign to generate high quality mortgage leads.

Because we made a point of choosing our keywords really carefully, he got some amazing results.

He invested an ad budget of £1,000 and, within 6 weeks of starting his campaign, he had generated 13 leads at an average cost of around £70 per lead. 

And, even at that early stage, he had already submitted three mortgage applications from these leads - one of which had completed and paid out fees of £2,500.

So less than two months after the campaign launched, this mortgage broker had already got a 2.5 times return on his ad budget, and he still had at least two more cases due to pay out, other leads still to close, plus some protection business to write.

The above ideas are just three ways that, as a mortgage broker or financial adviser, you can find better keywords for your Google Ads campaigns.

Want to know some more ways? Check out the free training that you can find by clicking here.

About the author 

David Miles

As a digital marketing consultant, author and trainer, I specialise in helping businesses in the financial services sector use the internet to get more enquiries and increase profits.

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