Drum Up More Business with these Valuable Tips
Most loan officers and mortgage company owners have the goal of building a powerful company and brand that brings in buyers from multiple channels. In my opinion, small business owners make some huge mistakes along the way in regards to marketing. This consists of inadequate market research, little to no self-promotion and the inability to foster a relationship with potential referral partners.
Once you solve that, then it’s all about the little details. This is what is missing from being average to being very successful. The attention to small subtle details can make a big impact over time.
The following are some simple, yet, very effective marketing techniques you may need to give serious consideration to using in your own marketing plan. Talk in the same language your audience does.
As an example, I was hanging out with a friend who brought another friend who just so happens to be in the market to buy a home. They said something that completely gave me the opportunity to show my expertise in the field with common language they would understand. There was no need to use mortgage industry acronyms such as LTV, PMI, DTI, AMC, etc. to confuse them.
So what did I say? I simply restated the research about average home prices and expected appreciation for this year and next.
Have an “attractive personality.”
In today’s world, if you want to motivate people you need to conjure up something deep within them. And naturally, they must actually like you. At a time way back in the past when loan agents could hide behind the company name, now borrowers want to relate to the company owner and feel a connection with you. When the company or person has a message that is not in line with their beliefs, clients go elsewhere.
This is where having an “attractive” or “charismatic” personality, proves to be very valuable. These type of people are basically leaders, and they have unique qualities that make them very attractive to the audience.
Address objections before you start selling.
A big part of effective marketing is knowing your market better than the market itself. You need to know it inside out. For instance, knowing the biggest objections to obtaining financing from you and dealing with them before you start marketing your services.
For example, some objections you get from borrowers are your office is too far or your costs are a few hundred dollars more than XYZ company. I tackle that by create a blog post or email that explains how our service is well worth the extra few hundred dollars and in some cases is just an overestimate.
Trade show participation
Similar to speaking events, trade shows are an excellent way to get yourself in front of a big group of potential clients at the same time.
Among the list of advantages of trade shows is that they group organizations around a common theme. The result is you’ll have a targeted audience. At a trade show, you can share loan product information, exclusive deals, and connect with other professionals.
The keys to success are smart targeting, preparation, and follow-up. When done the correct way, trade shows are a great return on your time and investment.