Mortgage Marketing Truths & Roadblocks: Part 3 of 3

A brief example of the opposite would be a mortgage loan officer who diligently makes cold calls and tells their prospects: “Can I put you on my newsletter mailing list, so you’ll be kept up to date on the latest mortgage news and info?” And then that loan officer sends out a quarterly mortgage marketing newsletter. Do you think the prospect will remember the loan officer, much less the phone conversation, three months later? I think not! Convincing themselves that this was the best approach, and taking no counsel or advice into consideration, winds up simply not having any impact at all.

So, where’s the roadblock — that elusive and guarded author of confusion with its nagging tendency to always get in the way? The roadblock, more often than not, winds up being YOU, or, more specifically, your ego.

We’ve seen it countless times: Well intentioned Realtors and Loan Officers with little to no mortgage marketing experience claim, “We know better,” or “I know my customers,” or the infamous, “My customers are completely different.” And finally, after your ego has a nice tight grip protecting your self-worth (or so you think), you give up and say, “Well, I do a mortgage marketing newsletter just so people see my face once in a while…it’s a necessary cost that one must endure…” Well dear colleague, we did warn you in the beginning about the truth and, while the ego might not be the problem for 100% of advertisers, it’s a problem for a very large percentage.

The ego works as the mechanism, in part, to protect us from embarrassment (generally speaking), as if to hide our faults from the judging eyes and minds of others. For example, for not being educated or knowledgeable, say, in the area of mortgage marketing. Who has time to get an MBA, much less a marketing degree? And, of course, no one wants to be seen in an unfavorable light, right? That’s the ego at work!

I’ve actually heard people in the past say, “Taking advice from others is not my style.” And then they give up completely on the process, when in reality they just don’t understand what to do, and don’t want to appear as being helpless. If ever there was an example of the downside of ego, this would certainly be it.

A quick note on style: Zig Ziglar once said, “My wife never turns to me to say, what you’re carrying doesn’t match the style of what I’m wearing.” To which Zig replied, “What I carry is green and beautifully colored, it matches everything.” Zig is obviously talking about “certificates of appreciation” or compensation for a job well done or, put bluntly, money. You’d be surprised on the sheer amount of bad mortgage marketing copy that exists in the world simply because ego gets in the way.

From another perspective, Wayne Gretzky once said, “You miss 100% of the shots you don’t take.” No one should throw good money into the trash just taking shots, and seeking good counsel is the best way to avoid this. Our ego doesn’t always allow us to seek good counsel and there’s a very good book that explains this in better detail. Written by 40 authors, over 3 continents, in 4 different languages, over 1,700 years, but that’s another story.

Years of experience shows us that the average Exodus client with 100 to 150 names in their database sees anywhere from one to as many as three new files with each mailing. Sending out a mortgage marketing newsletter without taking advantage of the available personalization (i.e., your message) will still work, but over time the end-reader will eventually lose the connection that maintains their loyalty. They can see that you’ve put your name on something nice, but you didn’t take the time to really share yourself. There’s only so much you can talk about regarding the industry before your client innocently tunes out.

Remember, the ego is elusive and transparent and we just don’t see it when it’s in our best interest to do so. In short, when the message is “self-centered” and considers only you and not the reader, or, more importantly, content that the reader is not interested in, the important personal connection is lost. When there’s no real message from you to them; they know you aren’t really there.

With such a powerful opportunity to speak from the heart about you, your business, and what you can do for people who’ve trusted you in the past, by way of story, experiences (not to be confused with your career experience over time as the subject), it’s obvious that a mortgage marketing newsletter is more than just a benign exercise in “ink on paper” or a “necessary burden.” So never let the message or copy become solely about your industry knowledge and academic and intellectual prowess. They know you’re good at your job, you’ve done it for them before.

Never forget that the most important person is the person who is reading your newsletter. …Never let your lifestyle become so important that spending 15-20 minutes a month keeps you from sharing a little of yourself, your knowledge and becoming family that you disconnect with your client base.

And finally, keep your ego in check; it’s not going anywhere and it’s always available when you need it, and even more so when you don’t.

Lastly, a couple of things to think about:

  1. If you aren’t keeping a current database of past clients, family, friends and colleagues (your sphere of influence), you need to start immediately!
  2. If you currently use a mortgage marketing newsletter and haven’t considered the importance of your personal message, you should start considering it immediately!
  3. If you’ve considered doing a mortgage marketing newsletter and haven’t found a good enough reason to do so, consider the untold thousands of dollars in “certificates of appreciation” you’re missing out on monthly by not utilizing your “database of gold.” And then call us immediately! We’ll work together to make your mortgage marketing efforts successful and help bring your bottom line down and your top line up!

Back to part 2: Mortgage Marketing Truths and Roadblocks Part 2

Back to part 1: Mortgage Marketing Truths and Roadblocks Part 1

 

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