Mortgage Marketing 101

Wondering how to get your mortgage marketing off the ground? Not to fear, there are some tried and true mortgage marketing basics that are sure to increase your business and make you the most successful loan officer around. In order to be successful, you must dedicate the time needed to market yourself and your business. This process is critical; 75% of your clients won’t remember your name just six months after closing if you neglect to contact them.

First, you need to focus your efforts on four core activities: developing your database, implementing a referral system, staying in touch, and showing clients you care. These core elements will ensure your mortgage marketing is both effective and productive, increasing your potential for growth and success!

Mortgage Marketing and Your Database

If you don’t already have a database set up for your mortgage marketing, you may want to consider purchasing special database software, such as ACT!, Goldmine, Access, Outlook Contacts, or Excel. Make sure to include the obvious information, such as name, address, phone numbers and email; also make note of additional information, such as loan closing date, loan type, interest rate, client hobbies, family members and special occasions like birthdays and anniversaries. You can further break your primary database into two to five separate lists, based on business potential and market, which will help you target your mortgage marketing more effectively. For example, you can create categories for warm leads, networking contacts, etc. Above all, make sure to keep your database current! If you find you don’t have the time to develop or maintain your database, you may want to invest in a database maintenance service.

If just starting out, your database should include friends, family and your sphere of influence; basically, everyone you now! Once you generate some leads, these should promptly be added to your list. If you want to target a specific niche, many title companies will give you lists meeting your requirements, like geographic targets for conforming loan limit postcards or first time homebuyer postcards. There are also a number of online list providers at your disposal.

Increasing Referrals Through Mortgage Marketing

Many professionals are intimidated by the prospect of requesting referrals from past clients or family members…don’t be! Your business thrives on referrals, and many professionals are able to work purely from referrals alone. Here are some acceptable times to ask for referrals:

Be sure to send a referral thank you card immediately after learning about a referral. Ideally, you will call that client to thank them as well, and can even send a home made gift (it should be home made to avoid RESPA violations). Keep track of all referrals given, and be sure to let newly referred clients know how important referrals are to your business. All of your mortgage marketing materials should reinforce your desire to do business by referral, except when sending the following: birthday greeting cards, anniversary greeting cards or holiday greeting cards.

Using Mortgage Marketing to Stay in Touch

Make sure to stay in touch with your database regularly, meaning at least on a monthly basis, or 12-18 times a year. These frequent contacts ensure your clients will remember you; for better results, include something of value, like a free report or mortgage brochure, or express a true sentiment that personalizes you to your list. In today’s digital world, personal contact like face-to-face coffee breaks or five minute phone calls to say “Hi” go a long way. Supplement these personal touches with other mortgage marketing resources:

  • Mortgage Postcards – available in a number of keepable designs for maximum retention and contact information recall
  • Mortgage Newsletters – packed with articles on home ownership, decorating, finances, health and new recipes each month, either in print or digital versions
  • Mortgage Greeting Cards – keep cards on hand for special events: birthdays, anniversaries, new baby, congratulations, sympathy and weddings
  • Email Notes – ask clients to take a quick survey, let them know of exciting news in the mortgage industry, or simply check in to see how their day is going
  • Articles of Interest – forward pertinent mortgage industry information or any press you receive to your clients

Caring for Your Clients With Mortgage Marketing

Clients want to know you value their business; 85% of them are lost because they don’t feel cared about. Take a moment to find out about clients’ hobbies, hopes and dreams, and let them know something personal about you at the same time. Also, unless you are in a meeting with another client, always take client calls.

Remember, always thank clients after they have referred someone your way. Your clients may not always have need of your services, but when they refer friends and family they are showing their trust and commitment to you. Show you are grateful with a thank you greeting card and phone call, and be sure to ask them if anything is happening in their lives that you can help with.

Mortgage Marketing Help

Not sure if you have these mortgage marketing basics down? In Touch Today is here to help. We offer automated mailing programs for professionals, and provide some of the products and services mentioned above, among many others. To get started with your mortgage marketing, request a FREE catalog and samples of our printed products by filling out the form below. Not only will you receive these materials, In Touch Today is dedicated to helping your business grow by providing:

  • Email updates regarding current mortgage marketing trends and strategies for marketing effectively
  • Online webinars and special reports with business-building tips to help you succeed
  • Constantly evolving product offerings based on client comments and suggestions

Graduate at the top of the mortgage marketing class by requesting your FREE catalog and samples today!

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