A narrow vision of mortgage marketing? What do you mean? Well, what we’re looking at is the narrow vision made available on a Facebook page. We have a Facebook page, almost everyone has a Facebook page, and what’s fascinating is how those pages are used. Marketing is available on a Facebook page and the vision is narrowed down to 450 pixels in width and about 200 pixels on the side bar. Why is this important? Consider what people do with Facebook. I’m not against it, but I understand it. I like to use it and, truth be told, I like to do my fair share of rants, especially when it comes to politics and the occasional funny photo just like everyone else. However, the searches are geared towards an almost “real time” posting criteria. You put the word “polenta” into a post and the advertisements start to come up with different polenta distributors, natural, seasoned, flavored, Italian and anything that can possibly come up, this is the re-marketing or retargeting (depending on the vendor) of a search and often times from a website you’ve visited if even for just a second and “bounce” away. Loan officer marketing doesn’t seem to garner the same results for a small company perspective and quite a bit of money needs to be poured into re-marketing and PPC to see any impact. Most small brokerages or branch offices responsible for their own marketing can’t keep up. Money is almost always the issue when it comes to the losses when inexperienced personnel are assigned the daunting task of “handling” online mortgage marketing.
Do people actually look for mortgages on social media sites? Now there are some valid mortgage marketing hits that come up. But if someone is online all day and something you post comes whizzing by, if it’s not really “for them,” there’s a good chance that it won’t get noticed. If you actually sent something directly “to them,” it’s impact changes. How do you do that without becoming well…annoying? Think about the circumstances that would cause someone to search for a loan officer on Facebook. Then look at your last 15 loans. Are they all friends of yours on Facebook? I don’t want to sound cynical, but think about that. When you post something in the middle of the day, and your client gets home from work, do you think they’ll see it if it’s not really directed at them? If it’s impersonal and “pitchy,” its got even less of a chance. People don’t come home from work and want to read about HARP rules and the current rates. In fact, in most cases it’s all about what their friends are up to. The question really comes down to… “How do you become their friends?” Not Social Media “Click Like Us” friends, but really friends; those who can be counted on, trusted, and referred to because they actually like who YOU are. Think about that.
Here’s a real life scenario…
My wife and I are going to refinance our house; you know, take advantage of the low rates. This is NOT hypothetical, this is actually happening (at least it was happening depending on when you read this). Because I sell and service loan officer marketing for a living, I have access to LO’s all over the country. Not withstanding the limitation of licensing and my desire to work with someone locally here in Colorado Springs, and, in an effort to be fair, I did a search on Google for a local LO that doesn’t use our service. You’d think it would be easy to find someone to help. You’d be surprised how poor the results were and Facebook was even worse!
Again, there are quite a few Exodus clients that I could draw from, but the online search revealed what we’ve always found and continues to be true. It’s tough to start out fresh with a new LO with no history or prior relationship. I want to deal with someone I know and who knows me and my family. (On a side note, the LO from Chase that worked with us previously knew where I worked and what I did. I have no idea where he is.)
The idea is not to narrow your mortgage marketing, but to focus it! Social media is great, still pretty cheap, and it’s fun, but it’s not the complete marketing package, and it’s metrics on your sphere of influence is pretty narrow.
Well, now that this blog post is almost done, I’m going to see about finding an LO to help with our refi. Since I’ve more to learn about how to find them if you don’t have one, I’ll post more about this experience. I do know that none of my clients have any problems hearing from their sphere of influence as they are all using our newsletters to keep them connected to their most valuable clients. It works and it works very well.
I just thought I’d share these thoughts and experiences with you. If you’d like to learn a little more about what we do, let me know. Here’s my number, please feel free to call me at 800-315-1910 ext. 1101, and I’ll show you why what we do works. And yes, I’ll even show you what doesn’t work, so you know what to avoid. You can also check out our website at http://xomark.com. Of course, if you are reading this blog post, then you’re already here!
Remember, that just because we’re savvy with the internet and Facebook, it doesn’t mean our client is.
Until next time…
P.S. Have you considered doing a complete assessment of your current marketing strategy? We can help you with that and it’s free! Use the form below to schedule your assessment today!