NEW YORK–Navy Federal Credit Union was the second-biggest spender on television advertising nationally for mortgages over a three-month period earlier this year, according to a new analysis.
But it also trailed the number-one advertiser by a significant amount.
According to data compiled by Kantar Media, between March 1 and May 21, 2018 Quicken Loans spent $57.3 million on network, cable, syndicated and spot TV ads, accounting for nearly 70% of total spend across all 334 advertisers that sponsored home mortgage commercials during this time period.
Quicken Loans’ closest competitor during the period was Navy Federal Credit Union in Vienna, Va., which spent approximately $5.9 million, according to the analysis.
AAG ($1.7 million), Ally Bank ($1.5 million) and Cashcall Mortgage ($1.3 million) rounded out the top five advertisers, Kantar Media said.
The company said that when it came to paid searches, LendingTree led the pack with 28.2% of all clicks on 116 non-branded mortgage-related keywords. Quicken Loans gained a 19% click share, followed by Bank Rate (12.6%) and two review sites that are paid on a per lead basis by advertisers, ConsumersAdvocate.org (10.2%) and Top10MortgageLoans.com (6.4%), the analysis shows.
“The analysis indicated that Quicken Loans was the only advertiser that had a strong presence in both television and paid search advertising,” Kantar Media said. “Navy Federal Credit Union and Ally, gained 0.7% and 0.4% click share, respectively, during the period, while CashCall Mortgage and AAG had little to no paid search spend.”