The 3 Most Important Mortgage Marketing Rules

Perhaps a quick review of some of the more commonly violated rules would be helpful?

Rule #1 With so many opinions and perspectives floating around, it is difficult to label any one rule as the most important. So we won’t go that route today. Rather, I am listing these marketing rules, or guidelines as equally important. They have to be in some sort of order though right? Guideline number one is this: You must know who you are marketing to. Sounds fairly simple right? Or is it? I’m going to ask 3 simple questions that I want you to answer as quickly as you can.

Where are your prospects most likely to live? What are the top 3 concerns of your primary niche? What is the primary age group of your niche market? If you can answer these three questions, then I applaud you. Would you believe that most loan officers could answer only one of the questions listed above?

This concerns me because these are very simple questions that could be answered with a little research and record-keeping. If we are paying so little attention to our marketing efforts and our client base that we struggle to answer even the most basic of questions, then is it any wonder the industry is in a state of panic right now? Please do yourself a favor and set aside some time for getting acquainted with your market.

Rule #2 Rule number two is every bit as important as rule number one. Even with the best research the world has to offer in hand, you must follow this guideline if you wish to be successful. Consider number two as a logical progression of rule number one. You must go where the prospects are.

Fishermen always do their best to drop their lures in the most densely populated areas of the lake, so why aren’t we doing the same? Once you know who your most likely prospects are, why not market in a way that will put you in front of the largest possible group? For instance, if you are marketing to first time home buyers, have you put some thought into where most first time home buyers are going for information? Are they going to the internet? If so, what sites are they likely to be visiting? Perhaps they are also thumbing through local real estate classifieds and publications?

What is likely to get their attention? Take some time to look at the tools and resources available, and then view these destinations and publications through the eyes of your prospect. What do they see, and what would stand out? Your odds of meeting with success will increase substantially once you begin fishing in the right places.

Rule #3 Have a strong call to action! You may have noticed that I put an exclamation point at the end of the last sentence. I felt that this statement needs to be yelled from the highest roof tops and pounded into our heads again and again. I am speaking so strongly about this topic because this rule seems to be overlooked so frequently.

Many well designed and planned marketing strategies have met their demise due to violation of this rule. Without a strong call to action, even the best ad copy will fizzle. If you don’t tell your prospect what they should do next, then why should they do it? What is in it for them? How will they even know what to do? Lately, it seems that more and more loan officers have forgotten that they are in sales! We’ve grown so afraid of asking for what we want, or of telling our prospects what to do next.

It’s as if we are afraid they will be offended and go elsewhere. I have to tell you though, if your prospect is so easily herded to your competition because of a simple question or direction, then this was not a very reliable prospect to begin with. Sure we have to temper everything we say and avoid coming on too strong, but this by no means translates into becoming a glorified order taker! You must be straight forward and honest

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