Mortgage Marketing Truths & Roadblocks – Part 1 of 3
How to Avoid the Roadblocks
At Exodus we service all manner of loan officers and real estate agents with a focus on mortgage marketing.
It’s sometimes interesting to see the diverse opinions and strategies that people come up with when it comes to marketing themselves. However, sometimes a marketing roadblock pops up that many don’t see. It’s elusive and can often appear completely transparent, and there are some who are too interested in your marketing dollar to tell you the truth about it.
Let me point out that the truth can also be elusive and the roadblock I’m talking about isn’t about the “truth” per se.
Consider this a fair warning as you read on: Along with proven concepts, tested mortgage marketing insights, and identifying the marketing roadblock mentioned above, what follows will contain a very generous helping of the truth and why so many can’t see the forest for the trees when it comes to both mortgage marketing AND real estate marketing.
Over and over we encounter this roadblock: A hardened fortress garrisoned by an ever powerful and relentless force. We’ll be looking at this more closely in just a few moments, but in order to see it clearly we have to use tools of wisdom and experience. The most important tool needed to see this problem clearly is an understanding of the basic foundation of what comprises a good mortgage marketing campaign. So let’s look at it now. A good mortgage marketing campaign consists of three foundational pillars:
First, let’s talk about “Market”: Your market is the collection of people who make up your sphere of influence. For real estate and mortgage professionals, most, if not all, new business comes from referrals. And while that’s 90-100% true for most real estate agents and loan officers, the real figure is about 82%. With new business coming from that large of a percentage, it’s imperative that you have a database of past clients, including, but not limited to family, friends, and colleagues. We CANNOT stress enough how important this is in an industry where referrals play such a large role. Ignoring this resource is a huge mistake and can be very costly. If you haven’t already done so, start keeping as well as building a database NOW!
This is your sphere of influence. If you aren’t really clear on what, why, and how important your sphere of influence is, you can read about it here.
Suffice it to say your Market and your Sphere of Influence. Foundational Piller #1 is established: Your Market
On to Part 2: Mortgage Marketing Truths and Roadblocks