Mortgage marketing is about understanding your clients' needs and putting together and implementing a plan that encompasses those needs, how to satisfy them and help you build your mortgage business as a loan officer. The following represents a list of six free marketing ideas for you to use to better understand client needs and ways to satisfy those needs. They have been compiled from various sources and are not listed in any particular order.
It's what will work for you that counts and remember the top 5 "rules" of marketing:
There’s no need to be shy in this business. When you accomplish something for a client, don’t hesitate to brag about it. In mortgage marketing, nothing is lost by making it a big deal!
If, for example, you got Mr. Smith’s application for a loan approved, here’s what you say: “Mr. Smith, things got a bit tight and your credit report made it a bit tough. However, I fought and defended you, and guess what? I got them to approve your loan application!”
That’s way better than simply saying, “Congrats, Mr. Smith. Your loan is now approved.”
Mortgage marketing is not just about your services. Make them see how professional and valuable you are. Make your value known and what exactly you can do (or did) for them.
This may not look like it has anything to do with mortgage marketing, but it does! When Mr. Smith or any of your clients feel and believe that you are going the extra mile to meet and exceed their expectations, and doing everything in your power and beyond to get them approved and funded on time, then they will in return make sure that everyone they know, also know about what you did for them. It also make it much easier to ask for referrals after the transaction is complete.
Write people thank you notes, everyday. This technique will bring in so much money you won’t know what to do with it. Everyone will appreciate that you took the time to appreciate and acknowledge him or her. This is especially true nowadays when showing appreciation is considered outdated. Take the time to thank them. This allows you to connect with them more.
Purchase some nice thank you cards. Use it for anything—the mailman for bringing up your mail, the underwriter for his fast decision, the client who called to say he will be late, the realtor’s referral.
Never underestimate the power of kindness. And as a plus, it will make you stand out as a thoughtful marketing professional.
Although we live in an era where loan officers are using everything from social media to content marketing to generate new leads, telemarketing is still a necessary practice for loan officers wanting to proactively push their services. That’s not to say that telemarketing should be used instead of newer practices like social media and content marketing, in fact it can actually complement all of these new channels.
Despite its connotations, if carried out correctly, cold calling can be incredibly beneficial to loan officers. Not only does it allow them to assess the needs, requirements and interests of prospective clients, but it also allows companies to clear up any doubts prospective clients may have about their services.
You should want to do this anyway, so the added cost is nil, but the benefit in terms of your reputation and your customer retention and recommendation rates will be great. Customer service is an area where you can easily compete with the big mortgage companies. Go the extra mile by ensuring that every customer goes away completely satisfied: fully understanding your service; or thoroughly happy with the service you have provided; and ready to recommend your business to their friends and colleagues.
During working hours, make sure every call is answered within 3 rings and that the greeting you give is friendly and personal. Ensure that the person who answers your calls is trained to deal with the majority of customers' questions themselves or, if they can't, to ensure all the necessary information is passed on with the call to the person who can. Don't let callers be passed on repeatedly, each time having to repeat their details and problems.
Also make sure that you are part of your community, Now, I don't mean for you to annoy all your neighbors and bang on their doors. Perhaps you might do a few hours of community volunteering, or get yourself into a position where you can meet lots of folk and hand out your business cards with your web address written on them. There's a particular way of approaching people when you do promote your business off-line, just be natural and amicable with folks and don't push your business down their throats the instant you meet them.
CANI: Constant and Never Ending Improvement
Never stop trying to improve and grow your business. Any small changes you make will make a difference maybe not today, but eventually, it will. Apply any mortgage marketing technique you can at least once a week.
This may include:
These businesses need not be in the same field of expertise as you. Just try and get some great ideas. Adapt them to your own.
Take drive- thru windows, for example. No one knows who came up with the idea but almost all businesses use it. Fast food restaurants, banks, pharmacies, and even restaurants have succeeded in incorporating it into their business.
Brainstorm. Try and find services that can make your life easier. Is it adaptable to your business? You may email your clients the interest rates everyday, for one. You may also provide them with a Post-Closing token that they will find useful once they’ve moved.
Use marketing tools from other businesses to boost your own mortgage marketing technique. If a marketing strategy catches your attention, try and figure out how you can use it for your business.
It is not enough to be a good loan officer. It is useless if cannot market yourself well. A known fact about being successful in mortgage marketing is to get yourself known. Strategize how you can build your client base simply by selling yourself well.
Tony Robbins may not be the only and best NLP trainer in the business, but he is the richest. Why? Because he markets himself well.
The Men-Mars, Women-Venus person is not the most effective marriage counselor, but he sold a lot of books, tapes, and seminars. Why? Because he markets himself well.
Your blog gives you the opportunity to create relevant content for your clients. Use this as a marketing tactic to drive traffic back to your website.
Make the blog on your website the foundation for all of your social media platforms.
Your business might be on Facebook, Twitter, Pinterest, LinkedIn, or anywhere else. Post links - with relevant visuals - of your blog articles to your social sites. Give your social followers a reason to click through to your website.
Additionally, post inbound links directly in your blog articles, to drive traffic to specific landing pages of your website.
We also put together a podcast for more insight on the top 6 free mortgage marketing ideas for loan officers.
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