Loan Officer & Realtor Marketing – The Missing Ingredient
We often hear people complain about marketing, while not understanding how marketing works, much less what it actually is. The stress level for some people is alarming and can bring out the worst in them. Since marketing for the LO and Realtor is our business, we may complain about it; not about us, although there is that individual who’s so cynical that they’ll tear down anything that even remotely resembles something invested in that didn’t work for them.
Some folks are so self-absorbed that they literally watch what they’re doing fail to work, and yet remain confident that they know best. An open mind is so important, but destroys so many who simply can’t get past themselves long enough to see the truth.
In all aspects of marketing there are levels of understanding that are unique to most industries, products and/or services.
… you can’t sell loans like you do pizza and shoes
Some require literally no interaction whatsoever. Amazon gives us the experience of personalized shopping with no interaction from Amazon, aside from the interface they’ve developed to provide that experience. I’ve never spoken to one of their reps on the phone, nor received an email that was even remotely personal.
This works for Amazon because of the nature of what and how they sell. They sell everything and they sell it by not interacting with us as people. We’re free to buy what we want and when we want it.
As a marketing company, we can advertise on several mediums because of the nature of the product we sell. We can use Direct Marketing, Internet Marketing, Email Marketing and it all works well. Again, this is because of the nature of what we produce and service as well as the nature of our client’s product, service and market.
You sell money, mortgages, homes and/or property. It’s impossible to sell these products and/or services without interaction. Yet, the missing ingredient in the way most LO’s and Realtors market themselves is like Amazon, or at least many are trying to do it that way. You and I can appreciate email and how quickly we can get to the point, but a consumer getting emails from a loan officer, a broker or a bank does not receive the same appreciation.
When I consider the complaints and general whining about marketing or the negative connotation that comes from even the mildest discussions of it, I know that it’s not because marketing doesn’t work, but because mortgage marketing or lender marketing or whatever you want to call it, is misunderstood. I’ve said ad nauseam, ad infinitum that you can’t sell loans like you do pizza and shoes. But when we consider the reason, it’s very clear and painfully obvious. The missing ingredient is a personal connection. It’s the one thing that most, if not all, purported online marketing lacks. Things like “Set it and forget it,” “You don’t have to do anything,” “Put your marketing on autopilot,” etc. You have to be a real person in the real world, not a virtual person in the virtual online world.
There are scores of articles and videos online as to the psychology of why people like people, loyalty in both brand and service. Without resorting to visually busy carpets (like in casinos), red wallpaper (like in restaurants), and the absence of clocks in establishments that want to keep your attention (like in casinos), you can’t trick someone into buying a loan, a house or to like and appreciate who you are. For some reason, possibly sheer convenience, the selfish component wants to “market” someone into giving them their business and without interaction; it simply can’t be done consistently; not for the Loan Officer or the Realtor. Face it, your personality plays a good-sized role in how well your marketing comes across, how authentic you are, along with how willing you are to share yourself with your past clients, those who’ve trusted your strengths. For the Loan Officer or the Realtor, this is your edge against your competition, your missing ingredient, and a big factor in how much people are going to like you, trust you, refer you and suggest, if not insist, that they use you instead of someone else.
By coming to grips with the reality of the human condition, you’ll find that referrals are far more abundant, and those who share themselves, share their knowledge and become family do infinitely better than those who don’t.
This is where Exodus Marketing comes in. We help you use that missing ingredient, and help LO’s and Realtors make more money through marketing than they otherwise would.
Set up a free Marketing Needs Assessment and see for yourself.