"Not long ago, a storefront sign was the most important marketing channel a retailer had. If you didn't have one, customers didn't know you existed. Today, for mortgage companies, that sign has been replaced by something else entirely: search. But with borrowers now turning to ChatGPT and other AI tools instead of Google, even ranking on the first page may not mean you'll be found."
"A survey found 77% of US respondents use ChatGPT for searches, and 25% say it's now their first choice. While that doesn't seem that daunting, in some reports, 58% of US searches end without a click. So what does that mean? People are searching and relying on Large Language Models, like ChatGPT, to provide the answer. They trust that answer, and they don't engage further. People do not want to look through a bunch of search results or click through websites. They want the answer."
"Companies do not know what Large Language Models are saying about them. They do not know if they will show up at all when people ask pertinent questions about the products they sell. Just because you rank on the 1st page of Google, doesn't mean ChatGPT will cite your content as the source for the answer. So, what do businesses need to do to prepare for the new medium? Here are three recommendations to prepare."
Search has become the primary marketing channel for mortgage companies, replacing physical storefront signs. Borrowers increasingly use ChatGPT and other AI tools for answers instead of traditional search engines. A survey found 77% of US respondents use ChatGPT for searches and 25% now prefer it first. Reports indicate up to 58% of US searches end without a click as users accept LLM answers without visiting websites. Companies often do not know what LLMs say about them or whether their content will be cited. Ranking on Google's first page no longer guarantees visibility. Businesses need to identify buyer questions across awareness, consideration, and decision stages and ensure answers are surfaced by LLMs.
Read at National Mortgage News
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