Loan Officer Marketing Can be Simple and Successful
When it comes to loan officer marketing, whether you are focusing on keeping your current clients, prospecting for new ones, or want to grow your referral source network, a well-laid loan officer marketing plan will yield impressive results. Whenever possible, try to incorporate time into your loan officer marketing plan for getting out into the neighborhood and speaking with people. Face-to-face communication is the most effective form of loan officer marketing there is, so use it!
On average, people will buy somewhere between 4 and 8 homes in their lifetime. Add a few refinances and maybe a second home and that could add up to 6 to 12 home loans over the course of 40 to 50 years. So, it is extremely important to keep your clients up to date on your business and any new information about the housing market. They are much more likely to give you repeat business if you are keeping up with your marketing plan and ensuring your information is easily accessible to them.
Loan Officer Marketing to Past Clients
Client retention is one of the best reasons to market. While it might seem like the best marketing plan is one that constantly recruits new clients, keep in mind it costs 10 times more to acquire a new client than to keep the ones you have. Below are some cost-effective ideas for loan officer marketing to past clients:
- Monthly Postcard Mailing - A monthly postcard mailing program is a simple and successful way to keep your name fresh on clients’ minds. With great postcard marketing content to choose from such as recipe postcards, home tips and Lender for Life postcards, your clients are sure to keep these cards on hand. Since your information is printed on the back, it will be easy to find the next time they are in need of your services.
- Mortgage Marketing Newsletters - These informative newsletters feature interesting and informative content and are enjoyed by clients. An overwhelming majority of respondents read the newsletters they receive from professionals: 92 percent read some issues, 83 percent read most or some articles, and 84 percent find the information in newsletters useful.
- Single Greeting Cards - This is an excellent option for the busy professional to show their appreciation for clients on important occasions in their lives. You can have greeting cards mailed out for you, which saves you the time and money it takes to run around gathering the supplies (cards & envelopes), finding stamps and making a trip to the post office. Let someone else do the hard work for you and sit back and relax!
Loan Officer Marketing to Prospects
There are several niches to keep in mind when considering loan officer marketing to prospects. Taking the time to target a certain market is much more effective than randomly mailing out to a large database and hoping to get a big return on your marketing efforts. These are some of the more popular niches we offer postcards for:
- First Time Homebuyer Postcards - Making up 39 percent of purchasers in 2007, first-time homebuyers continue to be a lucrative market. By placing mortgage door hangers announcing the benefits of owning a home around apartment complexes, you will gain a reputation as a trusted mortgage professional. Not to mention the added benefit of possibly meeting people face-to-face, a powerful marketing tool.
- Reverse Mortgage Postcards - An estimated 75 million Americans will turn 62 over the next 20 years, and the reverse mortgage market continues to grow. Make sure they know the details about a reverse mortgage and how it could benefit them and their families. There are several reverse mortgage postcard campaigns and a reverse mortgage seminar presentation available focusing on the benefits of reverse mortgages.
- FHA Postcards - It has been estimated that just a year ago only 5 percent of the market fit into FHA paramaters, but today those estimates say that 85 percent of the available market qualifies for FHA consideration. FHA loans can help non-traditional credit clients, foreclosure bail outs, first-time homebuyers, college parents, college students, refinances, and prior bankruptcies. The versatility of FHA programs allows you to target the message you are looking to send to specific prospects.
Loan Officer Marketing to Referral Sources
Referral sources are a great way to expand your business. Approximately 92 percent of all home loan transactions involve a real estate agent. According to recent studies, these real estate agents will direct the consumer to mortgage professionals in over 88 percent of the transactions. The goal of maintaining referral source partners is to have them recommend your services to their clients, and vice versa. Use the ideas below to being your loan officer marketing to referral sources:
- 7 Steps to Success Postcards - These great postcards offer tips on developing a successful business and professionals will be grateful for information on how to get ahead in trying times like these.
- Referral Source Request Greeting Cards - Inform referral source partners of your dedication to service, communication, teamwork, and peace of mind. Their stylish designs help reinforce your expertise and professionalism.
Find These Simple and Successful Loan Officer Marketing Tools
At In Touch Today we strive to bring the best products and services to our customers. We have a full range of loan officer marketing products available, including those mentioned above. We would be happy to help you get your marketing plan off the ground and have marketing consultants ready to help you find the best marketing solutions for you and your business.
Contact us today to start growing your business and get a FREE catalog and samples of our loan officer marketing tools!