You Must Make Mortgage Marketing Changes or Else!
Well, maybe not changes to marketing, but changes to YOUR marketing
It seems as through mortgage marketing changes along with everything else that seems to have changed. Just five years ago a mortgage professional could send out a flyer with his or her photo, contact info, and a company logo printed on it and the result would be a ringing phone with past and new customers interested in a refinance or a new home loan. That party ended in late 2008. That was a change to the industry, but how does that affect the mortgage marketing changes? If you’re still in the real estate financing business, congratulations; it’s been a rough few years. If you’ve learned anything, you know that everything seems to have changed. Which means that your approach to mortgage marketing should or must change also. Naturally this assumes you were doing it wrong from the start. For the sake of this discussion, we’ll play devil’s advocate and assume it was being done wrong.
Today, that flyer from five years ago with the mortgage professional’s photo, contact info, and company logo or an email with the same, does not have the same effect. It’s a tougher market. People heard nothing but mortgage companies going down the tubes, who can you trust? “A new, updated approach to marketing is essential” is what the “experts” all said and what they’ve proposed are even more ways to disconnect the Loan Officer from their client base. We’ve seen enough proof that the industry and the rules have changed. so in the devil’s advocate approach to assuming your marketing was all wrong we’ll also assume that you still put your photo, logo and contact info on your marketing no matter what medium, right? That’s good, there’s nothing wrong with that. but if you leave the rest of your communication or lender marketing message to someone other than yourself, you’re doing it wrong and that’s where the changes need to be put into affect.
People are going to do business with those they know, like, and trust. If you drop them like a bad habit, the relationship becomes distorted and when they either need someone to refer to a friend or a loved one, you are innocently forgotten. They might say, “Oh, we used (put your first name here), but I have no idea how to reach them anymore,” and that’s the name of that story. Consider your relationship with your client and what that really means. That’s a change to your marketing that would indicate you’ve been doing it wrong.
As stated earlier, the technological advances in mortgage and just about everything else are all part of making life convenient, but no one seems to have any more extra time than they used to. When you consider mortgage marketing changes, it’s not how it needs to be done that needs a change as much as it is how YOU have been doing it, your view of the market, the value you see in your sphere of influence and the medium in which you use to make it all happen. Obviously, we say that using Exodus is your best chance of growing your client base and increasing your marketing share. These both equate to making more money, which is exactly what the Exodus Marketing Loan Officer or Realtor does. You should spend a few minutes doing a free Marketing Needs Assessment with one of our marketing strategists. You may be very surprised to find that what you thought was supposed to work isn’t failing because of you, but because of what you might be doing. Click here to schedule an assessment or use the form below.