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How to Get Your Marketing Tools Right for Your Mortgage Business?

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How to Get Your Marketing Tools Right for Your Mortgage Business

The mortgage industry is unique in a way – mainly because of its ups and downs. It is also tied up strongly with other factors like, real estate market, condition of the economy, interest rates, government policies etc.

Your marketing tools should be utilized in such a way that you can take maximum advantage of the good times and be able to sail through the bad times smoothly. The following marketing strategies, some of which you probably use already, will strengthen your client base and help to expand your business.

Marketing Tools for Mortgage Business

  • Internet Tools and Strategies
  • You have to take full advantage of the internet and employ all forms of marketing through this medium.First is having a good, attractive website which you need to keep updated. Second is the content that you publish on your website. You should have blogs related to home buying, financing issues, mortgage regulations, credit history etc. to educate the visitors coming to your site. These blogs will bring the people to your website who are looking for information related to home buying and mortgage. You can answer the common questions people ask related to mortgage through the blogs and articles on your website. Third is using social media platforms to promote your product. You can publish posts and live videos and make your company or product name always in the minds of your targeted prospects.

  • Direct Contact with Customers and Prospects
  • Adding that personal touch always helps to impress prospective clients. Sending personalized emails, direct mails, or telephone calls can help you to connect with your prospective customers. Keep the leads updated about your services, about anything new that you have to offer, great rates, new services etc. Keep reminding them that you are the person to come to when they have a need for mortgage.

  • Referral System
  • Referrals based on word-of-mouth still bring a lot of business. Taking a housing loan is a long-term commitment and people want to make sure they are dealing with the right company and agent. Ask your present customers to recommend you to their friends and family members, colleagues – anyone they know. Offering an incentive for referrals can be very fruitful.

  • Get Recommendations from Financial Advisors
  • People seek help from financial advisors and consultants to manage their wealth and financial situation. They are trusted by customers and any recommendations coming them from is sure to capture the client’s attention. You have to educate the financial advisors regarding your product and give reasons how your product can benefit the client financially – saving the client’s money in every way possible is the most important motive for these professionals.

  • Setting up a Strong Source of Leads
  • Like the insurance industry, the mortgage sales also heavily rely on leads. You should have sources which supply you with quality leads at reasonable rates. There are many lead-generation companies you can sign up with and also have your own system of gathering leads from referrals or your website. Both real-time leads and aged leads should be used as both have their own advantages. By using aged-leads you can save some money since these are very inexpensive.

  • Make your Presence Felt in the Community
  • You can participate in the local community events, sponsor events and prizes in the community. Hold seminars and talks to educate people about things related to your industry and product. People have misconceptions or inadequate information about mortgage – you can dispel these and answer all queries the prospects have about this subject. Connect with the people that make up your clientele and the community they live in.

  • Conventional Advertisement
  • This strategy will include billboards, banners and even getting your car wrapped with your company name to always visually attract your prospective clients.