Mortgage Marketing – You’re Fired!

Let me ask you a hypothetical question. If you hired a sales person to help you boost business, you gave him/her a quota, and he/she rarely if ever hit that quota, what would you do? Would you keep this person around? Would you give this person a second chance, a third chance, a fourth chance only to watch your sales remain disappointingly static? What if you then invested more money in this individual for additional training, reasoning that maybe a little push in the right direction would help?

Nada… No positive return on investment!

How long would it take before you just cut your losses and got rid of this under-performing sales person? Chances are you wouldn’t wait long, especially if you were paying a salary. I’ve had to get rid of under-performers time and again, and let me tell you it isn’t something I’ve relished doing. But this is business right? You cannot keep throwing money at a person who is not meeting his/her minimum requirements! Now it’s time to flip this conversation onto its ear.

Do you apply the same standards to your marketing efforts? When I walk into a room full of loan officers and ask: “How many of you are unhappy with your income”" – Nearly every hand in the room goes up. When I probe further and ask: “How many of you realize your current marketing efforts are not bringing in nearly enough leads for you to close more loans?” – Once again, 90 – 95% of the hands go up…

Now for the confusing part? When I ask: “How many of you are using the same marketing strategies today as you were 6 months ago? 12 months? 24…”  If you watch closely, about 75% of the hands remain raised, and when I count up to 12 months and 24 months, some hands will go down, but you’ll notice a lot of the audience will keep their hands half-raised, looking around to see who else has lowered their hands. I laugh inwardly when I see the sheepish look on the faces in the crowd, because I know exactly what’s going on, and I know the feeling.

Come on guys, you can’t fool me, I know that there are many more in the crowd still using the same old techniques they’ve used since day number 1, but they’re just not wanting to embarrass themselves and admit it to the crowd! I can laugh at the situation, because I’ve lived it. I used to sell commercial grade phone systems, KSU’s, and even PBX units door to door. Most unpleasant job I ever had, and it was my first experience to outside sales. Yet Iw as locked into a loop of using the same old ineffective marketing strategy over and over and over again, despite the fact I could barely meet my quota each month.

To put it bluntly I hated it, but I really didn’t know what else to do. Even though that was a very long time ago, I can still remember attending seminars and district sales training events and sitting in the crowd feeling like I was the only one who was feeling like giving up, and trying my best to blend in. But looking back on those early days of my sales career, I cannot help but wonder why I didn’t do the one thing that could have saved me tons of wasted effort, frustration, and tiny pay-checks: FIRE MY MARKETING!

That’s right, if it didn’t work 2 years ago, 1 year ago, and 6 months ago, then what are the chances it’s going to suddenly start working now? Stop banging your head against the wall expecting the traditional marketing techniques to “Start working again” in this rapidly changing market. It’s better to “fire” your current marketing efforts, just as you would a non-performing employee who has proven over time to not pull his or her own weight.

So how about it? Are you ready to fire your current marketing efforts and make a change? If so, you’ll certainly need to replace your current marketing efforts without something that works! I think I have just the solution you need. The Loan Officer Project… If you want to learn what really works in this crazy market of ours, then why not take action right now to get in on our next free phone call? We’re down to just 40 spots left on our call scheduled for Friday, July 10 – 1:00 CST. Fill out the form on the upper right sidebar of this page: “Want A Free Website?” — See you on Friday’s call! You don’t want to miss this. It’s the only way to get registered to participate in The Loan Officer Project Phase 2…

CW -