Nine Steps to improve Your Mortgage
Marketing
Whether you are a new mortgage loan officer, or an
experienced loan officer, it’s always a good policy to review your mortgage marketing
plan. If you haven’t had a chance to take a long, hard look at
your mortgage marketing plan, this is the perfect time.
Some people avoid developing a marketing plan because
they assume that it is a long, laborious task that involves high-level business
planning. The reality is that a marketing plan is really
simply a series of steps that you move through. You can go back to your plan at any time to refine it and
modify it, especially as you gain additional experience working as a loan officer.
Here are some of the basic steps to help you get
started with your plan:
- Start by defining your business strategy and
your marketing vision. What are your ultimate goals for
your business? What is your vision for implementing your marketing? How will you know if your strategy
is successful?
- Define your target
markets. Who do you hope to reach, what is their income
level, what are their needs, are they first time buyers, refinancing clients, what is the average
mortgage amount, etc.
- Establish your marketing objectives and
strategies. What strategies will you implement for
advertising and public relations?
- Develop a positioning
statement. How do you compare with your competition? How
do you differ from the competition? What is your niche market?
- Implement an effective contact management
software program or database. Implement strategies to
capture contacts through your website by offering newsletters, special reports, free tips sheets, or
rate quotes.
- Develop a system for evaluating your
success. Your marketing plan should be ever evolving. You
need to have a plan in place to revise your marketing plan as
necessary.
- Evaluate your technology for maximum
productivity. Are you taking full advantage of the
technology tools that can improve your marketing efforts? Does your webpage capture the attention of
clients, does it establish your unique position statement, or does it look just like your competition?
The proper technology can make a huge difference in how fast you can react to your marketing and
customer response. With minor changes, you can easily deliver custom information for each
client.
- Go back to the
basics. Don’t overlook the power of referral
marketing. Make sure that you follow up on referrals and keep making consistent contacts with
those referrals.
- Ask for help when you need
it. Sometimes you need a fresh approach or new ideas.
Consult with a respected mentor or colleague, or consider a mortgage marketing
coach.
By developing a strategic mortgage marketing plan, you
provide pinpoint accuracy to your business. You will constantly
revise and refine your plan to make the most of your business and develop a strong client and referral
base.
Jeff Nelson helps loan
officers increase loan originations by
attracting quality relationships with real estate agents from the development of customized relationship-building
strategies.
Click
here to get a free copy of the Marketing Planning
Guide, a 20-page workbook designed to help you outline a strategy to become
an Agent
Magnet.
Visit us
at http://www.loan-officer-marketing.com
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