Expectations were high when mortgage lending giant Rocket Companies hired Airbnb vet Jonathan Mildenhall last year to unify the company’s marketing efforts as the company’s first group chief marketing officer.
After leading a brand restage that launched in January and airing an “Own the Dream” Super Bowl ad featuring a live singalong by thousands of fans, Mildenhall’s latest move is to hire the company’s first social media ad “agency of record:” Viral Nation.
In announcing the move Tuesday, Rocket credited Viral Nation with amplifying its Super Bowl ad with a social campaign that generated 247 million views.
Viral Nation “will help Rocket cut through noisy feeds by showcasing real client stories, influencer ambassador programs, and dynamic community management,” the companies said.
Jonathan Mildenhall
“Homeownership is the single most powerful expression of the American dream — and everyone deserves to see themselves in that story,” Mildenhall said in a statement. “We know that when people see others like them owning their dream, it sparks belief.”
Rocket’s account on the social media platform X, @RocketOTD, has 26,400 followers — a far cry from consumer brands that are household names like Netflix (24 million), Wendy’s (3.6 million) or American Express (831,000).
In the mortgage realm, Rocket has a leg up on competitors like United Wholesale Mortgage (8,942 X followers) CrossCountry Mortgage (3,970) and loanDepot (3,364).
But Instagram is where individual mortgage loan officers are connecting with clients, with “mortgage influencers” like Jide Buckley, Matthew Garland, Minh Nguyen and Neel Dhingra each reaching hundreds of thousands of followers.
Rocket, by comparison, has 106,000 Facebook followers and an Instagram audience of 64,100.
Viral Nation beat out four other companies to land the deal to be Rocket’s social media agency of record after a 2 1/2 month review, Adweek reported. An agency of record typically manages a company’s marketing efforts including strategy, creative development and media buys.
“At a time when nearly 80 percent of social media users turn to their feeds for dream-home inspiration, Rocket and Viral Nation are moving beyond curated perfection to offer something deeper — real stories, support, and guidance for people working toward homeownership,” the companies said.
In addition to Rocket Mortgage, brands under the Rocket umbrella include the real estate brokerage Redfin, title insurance provider Rocket Close (formerly Amrock), and a consumer finance app, Rocket Money.
Joe Gagliese
“Rocket’s mission to redefine homeownership inspires us to build a social movement that empowers every American to envision themselves on this journey,” Viral Nation co-founder and CEO Joe Gagliese said in a statement. “Rocket is more than a financial services company; it’s a culturally influential brand, authentically leading and shaping the communities it serves.”
With its deal to acquire Redfin closing on July 1 and a merger with loan servicing giant Mr. Cooper pending, Rocket is out to double its share of the purchase mortgage market to 8 percent by 2027 and boost its share of the refinancing business from 12 percent to 20 percent.
Rocket is offering preferred pricing to borrowers involved in deals in which the buyer or seller is represented by a Redfin agent, and hopes to “recapture” most borrowers serviced by Mr. Cooper when they’re ready to refinance.
Get Inman’s Mortgage Brief Newsletter delivered right to your inbox. A weekly roundup of all the biggest news in the world of mortgages and closings delivered every Wednesday. Click here to subscribe.
