Reverse Mortgage Brand Awareness

Goals

To understand the brand awareness of various reverse mortgage lenders by seniors , retirees or Americans in general. To find statistics on brand awareness. The information will be used to assist a client in understanding a potential market.

Early Findings

America, Advisor Group is a reverse mortgage lender in the US. Below is some information found on the brand awareness of its clients.

American Advisor Group (AAG)

  • AAG is the market leader in the HECM reverse mortgage segment with a 26% market share.
  • The company prides itself in its brand recognition and marketing.
  • It runs TV ads mostly aimed to run on cable networks with appeal to a high percentage of the senior demographic, with celebrity pitchmen such as Tom Selleck or Fred Thompson.
  • ReverseMortgageReviews, a website that ranks reverse mortgage providers and includes customer reviews for each company, provides insights on the brand awareness of Americans in regards to AAG.
  • In the website, All Reverse Mortgage Inc. was ranked first and had around 65 customer reviews. Out of these 65 customer reviews, AAG was mentioned in 4 customer reviews. Two clients used them because they have used them before and knew them. Two other clients started their search for reverse mortgages with AAG, because that was the company they knew.
  • AAG came 4th in the ReverseMortgageReviews ranking and had 67 customer reviews. Out of these reviews, four customers mentioned the Tom Selleck ad, one mentioned that AAG was well known in the reverse mortgage space being the market leader, and another requested an information pack after seeing their ad,
  • AAG seems to be the most recognizable brand in the US in the reverse mortgage sector.
  • Its CEO specifically used TV spots featuring Tom Selleck to increase its brand awareness and it allowed the company to increase revenue from $63 million in 2012 to $216 million in 2017.

Proposed next steps:

You need to be the project owner to select a next step.