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Mortgage Marketing

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By jeffnaz

Mortgage Marketing Follows Four P's

Do you have more clients than you can handle? Or do you have a ton of activity that is leading nowhere?

Too often, mortgage brokers confuse business with busy-ness. Their idea of mortgage marketing includes mailing truckloads of mortgage postcards or mortgage letters and hoping the phone rings off the hook.

There's more planning to mortgage marketing than becoming the number one US postal customer.

A Demonstration of Marketing
A Demonstration of Marketing


As you can see, mortgage marketing is way of thinking. There are 4 basic processes in logical order so helping make sense out of all these.

  • Planning
  • Positioning
  • Packaging
  • Promoting

Making a mortgage marketing plan is a formal process of describing the kind of clients you wish to attract, how many you need and how you can get them. By knowing exactly what you need you know what you need to focus on to do it. By making the effort to correctly plan you can elude plenty of the typical mistakes mortgage brokers make in creating an overall promotional strategy.

Here's a video that demonstrates how one loan officer put together the four processes:

Marketing Isn't Difficult

What Do You Say?

If a Realtor asks, "Why should I work with you?", what is your answer? Is it the same as your peers? For most mortgage brokers, including those in denial, the answer is inevitably yes.

The problem is you are promoting your similarities. And, in the case of Realtors, when the same message is communicated repeatedly, it's gets ignored. Basically, the money you are spending on marketing, if not done correctly, is going to waste.

Watch this next video as I tell you the secret to your marketing and how to differentiate.

How to Differentiate

How to Promote

When you know how to add value to a Realtor's business, it's a lot easier to stand out from competitors. The next key is to get your message in front of the right real estate agents.

Where you promote your message is more important than how you promote your message
Where you promote your message is more important than how you promote your message

 

Too often, mortgage brokers complain about Realtors being too overdemanding, having too high expectations or being downright difficult to work with. Fortunately, you don't need to work with every Realtor you meet, you just need to work with the right ones. But it's tough to be selective if you don't have Realtors lined up at your door.

Promoting your message, which is part of the marketing mix, is more than obvious. But what isn't so obvious is how you do it. For most mortgage brokers, their idea of promoting is to get their marketing message in front of every Realtor, which couldn't be a bigger mistake.

Here's a great story that illustrates how you promote your message so you get more Realtors than you can handle. Visit my Scribd page to read it

And finally, you'll find some additional resources linked below to help you in your search for better marketing.

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flmortgagepro profile image

flmortgagepro  says:
7 months ago

I can attest to Jeff's real estate and mortgage marketing expertise, as much of the success I have had marketing my own services as a mortgage broker I owe to him! Thanks, Jeff - for all you have and continue to do in support of my business.

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