Why a mortgage marketing newsletter?
There are several reasons to use a newsletter, but there’s another question that’s tantamount to the first one: “Will my business benefit from a newsletter?”
The answer to the second question is, it depends on the business you are in, and this dependency, once understood, exposes who your market is and how that market will react. Rather than survey the many different business types — how buyers react and sellers look at how to market to them — we’ll focus on what what’s important, which is the loan business and mortgage marketing.
(For a foundational understanding of marketing and how it pertains to mortgage marketing, download our free eBook on marketing truths and roadblocks.)
Obviously, you can’t sell someone a mortgage every 30 days. So, only sharing industry knowledge isn’t an effective marketing strategy. I see this constantly and it’s alarming how many loan officers miss this. A lack of marketing experience results in a tendency to only talk about the market, the loan business and rates. Your knowledge of the industry isn’t your only value and building real relationships with your past clients is the key to becoming by extension a member of their family. Family members and real friends get referrals above all others and is the mortgage marketing secret. The difference between getting a few loans from mediocre marketing and being a complete success is understanding and applying these principles.
Unlike a sandwich shop, the loan officers’ marketing approach is different and relationship-building is the only way to turn customer into ambassadors for you and your business. That’s why Facebook and emails don’t produce a return on investment that comes close to mortgage marketing newsletter marketing. Selling mortgages and selling sandwiches are night and day, yet many still try to sell loans like sandwiches, using things like social media and email marketing in exchange for meaningful results.
There are lots of reasons, but let me focus on the most important.
The newsletter is the vehicle into the homes of those who’ve trusted you to do the work they can’t do themselves. The newsletter is appreciated because it’s more than an offhand reminder that you have a heartbeat. As with anything you’d send to your sphere, newsletters are tactile and just like post cards, calendar magnets and sports schedules. However, newsletters possess something far more valuable than post cards, calendar magnets and sports schedules, and that’s a platform to communicate in a way that relates to your clients’ sense of humanity, as well as displaying your own! They know you, they trust you, and they hear from you on a regular basis about real things not just rates. They feel you aren’t just trying to “sell” them something.
Exodus Marketing has been focused on this since the very beginning and have proven its success time and time again. This is why our newsletters outperform any and all direct marketing much less any other sphere-of-influence marketing in the mortgage industry, bar none! The goal is to share yourself, share your knowledge and become family and our newsletters do just that. If you could meet with every one your clients every single month, what would you share with them? It’s a proven fact that people who share themselves, share their knowledge and become family, do INFINITELY better than those who don’t!
With enough time and enough coffee I could probably give you 10 more reasons and a list of comparisons between the various marketing media available but suffice it to say, if you aren’t doing a newsletter, you’re missing out on a resource of missed profits on a regular basis. A well-crafted newsletter will give sound instruction on how to navigate themselves, their friends and their family members directly to you.
Sometimes we see the unfortunate circumstance of loan officers discounting the use of direct marketing because they don’t feel they possess the confidence or knowledge to write effectively, whether about themselves, the industry or whatever it is they’d like to say. They’d rather not admit that they aren’t quite sure how to do it and sometimes unwilling to ask for help. That’s not a valid reason to miss out on the most successful mortgage marketing strategy available, and that’s where Exodus comes in. We offer free support that guarantees your newsletter is successful, not just a flyer to show you’re still around. We’ll show you what messaging works and what doesn’t. Almost every loan officers’ vision of how to market their business is different, however, successful marketing concepts don’t change. This is why we also encourage you to take our Free Marketing Needs Assessment.