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Marketing for Mortgage Brokers
Marketing for Mortgage Brokers that Commands Attention and Captures Agents
Do you need to resuscitate your marketing? For mortgage brokers across the country, marketing is only one of many hats they wear. Often times, it becomes the lowest priority and most neglected. Only when production slows, urgency for marketing for mortgage brokers speeds up, causing peaks and valleys, one month your income is high and the next it's low. And if your target is a real estate agent, he or she is ignoring it, exasperating the situation.
Years ago you could walk into a real estate office and stuff rate sheets into the mail slots, later your phone would ring with calls from agents. Today, marketing for mortgage brokers has really changed. Mail slots are packed with everyone's rate sheet and a slew of direct mail ads from ancillary services; fancy brochures promoting real estate success secrets, flyers from title and escrow companies, inter-office memos, and faxes, making it appear to be impossible for your marketing to get noticed.
But it doesn't have to be that way. Imagine what it would be like having a business with a line of clients waiting at your door constantly, and agents ringing your cell phone call after call with buyers. You would be left doing the one thing you enjoy most - servicing borrowers.
Are You Invisible?
Do agents notice your marketing? If not, you're invisible. And if they can't see you, how can you expect to command their attention? If marketing for mortgage brokers is to be effective, it needs to have a face.
Materials that an agent can see, hear or touch delivers a clearer image and anchors it in their mind, in a virtual location that every mortgage broker is competing - called "positioning." With an anchor in place, you can deliver messages that maintain awareness, so when the agent needs help, they seek out your services.
Tools that Shape Your Image
Commanding attention and capturing agents is the result of consistency, and to develop consistency you need tools. The right tools, used in the right way, can yield a tremendous payoff in clients and business. By targeting your marketing efforts to the right people, you can quadruple your clientele, while at the same time saving yourself valuable marketing dollars.
Your marketing tools need to:
- Focus on the Agent - Not You
If you use postcards as part of your advertising, does it grab attention? Do you capture the agent's interest by offering something different than your competitors? Do you spark a desire that meets the agent's needs with something they really want? Does your marketing message encourage the agent to take action?
- Instill a Sense of Value
Do you offer something different than every other mortgage broker? What are your strengths and is it attractive to the agent? For instance, are you a specialist with investors, first-time or affluent homebuyers, or credit challenged buyers?
- Appeal to the Right Agents
How well do you know the demographics of the group that you are marketing? If you are sending out postcards blanketed to real estate offices, maybe your efforts should be focused on agents who deal more than one transaction per month. See a mortgage flyer
Your greatest return on investment will come from effective marketing tools that are agent-focused and not mortgage-focused. Regardless of whether marketing for mortgage brokers includes free flyers or newsletters, when done correctly, your efforts will result in an increased client base.
My interest is in helping you develop the best marketing plan, so you use your marketing dollars wisely - to get the biggest bang for your marketing buck. There's no reason to keep shoveling your marketing budget into the money pit when you could instead be making money and gaining clients.
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