In this article we will discuss the most useful tips and tricks to help loan officers in marketing themselves online. No doubt there's something valuable to take away from this post, for everyone, no matter what marketing strategies are being implemented.
Loan Officers Marketing Tips & Tricks
75% of your time should be dedicated to traffic generating leads, only 25% should be dedicated to working the loans, processes should be doing most of the work.
Pick one or two traffic generating strategies and spend one month mastering them before moving on others. As an experienced mortgage loan officer, I know the importance of mastering one strategy. You don't need to be the jack of all trades in the beginning.
Always aim to give more value than your competitors. If your competitors are giving away a free eBook, you give away an ebook on 10 ways you can increase your credit score (as an example). Even if you don’t know how to write ebooks you can always outsource this work for a cheap price.
Always over deliver on your promise and let your prospects know you are there 100% with them all the way through their journey. Have your personal contact details at the ready for them to reach you at all times.
To stand out, you must find your USP (unique selling point.) This can be anything from your commitment to deliver quality, to a memorable marketing tactic. Anything that separates you from your competition should always be at the forefront of your marketing.
Your name is your brand. If you promote crap, you will pay the price, if you don't pay the price for whatever reason, this simply means you are not creating a long term business. On the other end of the scale, if you promote quality, you will be rewarded handsomely for it.
Build an email list from the very beginning. Your first priority should be to learn how to build a list. That's where most of your income is going to come from. Traffic will come slowly at first, but even with very little traffic you will start to see results. Every loan officer that I have talked to has regretted not building their list from the very beginning... learn from this.
Don't make the assumption that you know what your prospects want. This is just bad marketing practice. You need to find out exactly what they want before you try to give it to them. I see this mistake being made all the time. Find out what they want, go get it, and give it to them.
Avoid the hard selling approach when dealing with potential customers. First impressions last. Give them valuable information that will help them trust you. Build that initial trust from the first meeting and let the relationship bloom over time. This is why it's important to get their contact details.
Don't be afraid to sell. You'd be surprised how many loan officers are afraid to sell, but it's true, there are a lot of them out there. Remember, if you know that what your selling will help your prospects, then feel good about selling it to them. Don't force it though, simply inform them of the amazing benefits they will receive from using your product or service.
People are much more likely to respond to "pain avoidance" rather than "benefits," both are powerful tactics to use in your marketing, but if you can help someone avoid a painful situation you will make a lot of sales very quickly. This can backfire very quickly if your claims are false.
Focusing 100% on internet marketing can be a very costly mistake. Working consistently on your marketing is crucial, but if you do not spend time working on yourself through personal development, you may find you struggle a lot more when obstacles pop up along the way. Developing a mindset capable of pushing through barriers will get you further along in this business. Setting goals will shave months, maybe even years off your online ventures and exercising regularly and eating healthy foods will keep your energy levels at their peak.
Try something new for 30 days. Set a goal to write a blog post every day for 30 days. This is a very powerful traffic generating strategy as well as a powerful copywriting exercise. After 30 days you will have 30 posts. You can submit them to article directories and convert them into PDF format to be shared on document websites. One post a day is simple if you make it a goal, write it down and have it above your computer at all times. The 30 day challenges I set for myself have been responsible for dramatic increases in everything I do online, and offline.
Be consistent with the strategy you are implementing. Persevere through the gray areas where you're not sure if what you're doing is working. Most often we just need that stick to it mentality before the results begin to show. Be in it for the duration, don't expect overnight success.
Take full responsibility for everything you do online. If something is not working, adjust your strategy or mindset before blaming the system you are implementing.
You need to be willing to invest in your business. I didn't say "invest in your learning"... Invest in your business. Rather than buying another product, buy leads... buy advertising instead. Results can take a long time if you are taking the free route to success. Spending money on your actual business will yield far greater results in far less time. If you have no money, look to get it somewhere. You must be resourceful in this business, and it is a business after all.
Never promote a product that you haven't tested, or at least done extensive research on. You must know what your prospects are buying. If you haven't tried it, you could be potentially lowering the lifetime value of your customer. I never promote anything that I haven't tried myself. At least then, I can supply my customers with the benefits the product can have for them instead of making it up in my head. It's far easier to sell something you have knowledge about, make sense?
Make sure all the content you release out to the web is 100% original. Put your name to quality content, it will benefit you and your brand in the long run. Even when writing email copy for your list, make it original. I have seen loan officers sending the same email swipe message given by the promoter of the product. This is bad practice. You must inject your own personality into everything you send out. If your copy is not original, your prospects will never connect with you on a personal level.
Always focus on benefits or pain avoidance within your copy. I see a lot of loan officers highlighting the features of their loan programs. It doesn't work. You must focus on benefits. People emotionally attach to what a product can do for them.
Create an avatar of your potential customer and market to that avatar. Find out who your customer is before you try to sell them anything. Creating a customer avatar that encompasses all your prospects traits can have a significant impact on the results you get. Get inside of your customers mind. How old are they? How much income do they earn? What are their fears? What are their ambitions and goals? You get my point. Selling to an avatar will skyrocket your earnings providing you accurately determine what they actually want. Find out where your potential audience hangs out and go there to interact with them.
Don't be afraid to be yourself. You may alienate some people by being completely open, but you know the old age saying "if you try to sell to everyone, you end up selling to no one." Real connections are made through being who you are, not by pretending to be who you're not. Let you true personality shine through in your copy. Of course you must keep it professional, but do not make the mistake of writing without personality. You have unique traits that need to be expressed. Never forget, you are loan officers to real people with real problems and real emotions. You MUST come across as a person who has these traits also.
Test the guru. Always be ready to test what the gurus tell you to be true. You must test everything before you can accept it as true. Just because you heard it from a top producer, that doesn't necessarily mean what they are telling you will work in your business.
The money is NOT in the list. The money only comes to you from the people who like and trust you. If you have not been building a solid relationship with you prospects from the very beginning, you will ultimately need a lot more prospects to get the results you want. If you have been building that trust and have been providing valuable information that your prospect desires, you will need less subs to make more sales.
Find a mentor... someone you can replicate. Having a mentor keeps you on your toes, gives you a strict plan to implement and guides you on your journey. This has been the single most important part of my success online to date.
Reach out to your audience with video, audio, graphics and words. Different people respond to different media formats. To reach your customers and connect with them on a personal level, I recommend using as many formats to distribute your message as you possibly can. Again, it just makes sense.
Be Everywhere your audience is. The Internet is a mighty big place and your message must be all over the place. You should be marketing on forums, social media, video websites, article directories and anywhere else your potential customers hang out. You can link up all your social media accounts through online sites such hootsuite and buffer.
Did you know that people feel obligated to return a favor to someone who has just done one for them? Provide enough value to someone and they will feel like they owe you in some way. It works very well indeed. I have bought products off certain marketers in the past even though I didn't really need the product. I used it of course, but I could have done without to be honest. That's the power of giving incredible value first. I bought these products because the seller had given me a lot of valuable information in the past, for free.
Your long term success will be in direct proportion to how much value you provide to your customer. Repeat buyers are what really makes a business... a business.
While I highly recommend getting a mentor to listen to, I am strongly against waiting for a super-guru to help me succeed. No mentor can take you by the hand and do it for you. Your success is only determined by how much YOU put in. A willingness to succeed at all costs can only come from inside, without that, there will be no one to come and rescue you. Get this straight in your mind. You, and you alone is 100% responsible for everything you get out of life and business... period.
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