We will continue to host these training sessions through April 2010, and then shut down the series as we take a breather for a while. If you’re interested in taking part in our final round of Loan Officer Project prior to the temporary shut down, then please get in touch with us right away. See you on our next training call!

What: “Online Mortgage Marketing: What You Need To Know”

When: Tuesday, May 5

What Time: 1:30 CST

How to Listen In: Request the login details below:

Mortgage Marketing Truth #1

One of the main reasons why most loan officers are having trouble with their sales and marketing efforts is because they have stuck loyally by their traditional methods. Unfortunately for them, technology is rapidly changing the way people shop, research, and make buying decisions. Up until last year, the Yellow Pages was the undisputed champ for getting local exposure.

2008 saw the first year where the Yellow Pages landed in 2nd place, and is declining steadily every year. Why? Because more people used search engines (Primarily Google) to find local businesses. That’s right. For those of you who are still spending bundles of cash for direct mail, newspaper ads, magazine ads, billboards etc, you’re ignoring the fact that the web offers far superior numbers and exposure to a very targeted group of people!

Not to mention you can get away with spending less than $100 per month to see these results. How much money would you need to spend on direct mail to get in front of 100 people who are actively seeking a loan officer? Thousands  right? (The industry average is less than one half of 1% response rate to direct mail)

By comparison, online marketing efforts put you in front of a much larger group while allowing you to dramatically reduce your spending.

Mortgage Marketing Truth #2

Leads are better when they come to you! Wouldn’t you agree that it’s far easier to convert a prospect who is already looking for a loan officer than to cold call and talk someone into chatting with you? I know which lead I’d prefer… Unfortunately, many loan officers still spend a large majority of their time pushing a boulder uphill. In todays market, a referral, or hot lead is far more likely to close than someone you pick up through cold calling efforts.

This is simply abiding by the rules of working with “qualified” leads. Most mortgage marketing strategies I run across still involve lots of phone calls, lots of follow-up, and lots of time spent trying to separate the good from the bad. There’s nothing wrong with this at all, and I applaud those who are motivated enough to get out there and make things happen.

But in a difficult market, isn’t it better to have multiple streams of business flowing in instead of putting all your eggs in one basket? Isn’t it also a good idea to use methods that help deliver pre-qualified leads to you, by working with those who have made an effort to come find you instead of the reverse? An online marketing strategy can make this a reality.

Mortgage Marketing Truth #3

You need a marketing strategy that will build on itself. If you send out enough mailers, or place a large number of ads in the paper, will you ever reach a point where the mailers start mailing themselves, or the newspaper ads start placing themselves?

Can you ever reach a point where all your adds or mailers are free to send? Of course not! You’re probably thinking I’m a little nuts for even asking! My point is that traditional marketing methods will never stop requiring you to do a proportional amount of work, and/or spend a proportional amount of money to make it work.

So no matter how good you are, you still have that ever-increasing bill to pay each month. Online marketing on the other hand offers a social networking potential. In other words, as your website becomes more popular, more visitors begin to comment on your site, or on your blog. As more activity shows on your site, the more the search engines like you, and the higher up your rankings climb.

With proper article placements, you can have your content appearing on dozens, if not hundreds of other websites that will now funnel more traffic and prospects to your website without a single penny paid by you. See? Online marketing offers multiple opportunities for you to get higher return just for having good information, and a well planned website.

This saves you time as well as money. Your costs are not driven up just because you get more exposure. The same cannot be said of traditional advertising. The point here is that there are several great reasons to get started with a quality online marketing strategy ASAP. To learn more, click the link below, or request more information by filling in the form:

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Would you agree? Have you witnessed the huge number of loan officers leaving the business because they cannot seem to generate enough business? The purpose of this short article is to show you why this is happening, and why most loan officers are missing out on a massive opportunity to close more business.

There’s one critical question I wish to ask you:

Would you close more loans if hundreds, or even thousands of people who were already looking for a loan officer, or to buy a home stumbled across you each month?

Simple question with a predictable answer right? It’s so simple, because we already know that marketing and sales is a numbers game. Get in front of enough quality prospects, and you’ll close more loans. The reason I wanted you to answer this question is because right now, this very day you are missing out on getting in front of dozens, or even hundreds of prospects.

Every day that goes by, you miss out on even more. Want to see an example of just how much business you’re missing out on? Below is a short list of U.S. cities that I have pulled up Google search records from over the last 30 days. In other words, Google provided me with the number of searches for mortgages, loan officers, and homes for sale in the cities listed below.

The “Number of searches: figure shown gives you an idea of how many times in the last 30 days real estate, mortgages, and loan officers were searched for on Google in the last 30 days:

(These are the exact results I received from Google)

Atlanta, GA – 412,770 searches

Birmingham, AL – 266,300 searches

Colorado Springs, CO – 308.000 searches

Houston, TX – 581,000 searches

Portland, OR – 306,420 searches

San Francisco, CA – 541,632 searches

St Louis, MO – 126,320 searches

Tucson, AZ – 198,000 searches

Tulsa, OK – 67,784 searches

Did you find a city near you? Even if you didn’t, you can see just how much activity is going on even in a “down” market! Let’s assume that 50% of those searches are not relevant. Let’s further assume another 20 – 30% are not serious prospects, and just dipping their toes in the water.

Even if we write off 80% of the searches, you still have tens of thousands of people who would see your website on the front page of Google each and every month. How much woulds it cost you to send out tens of thousands of mailers these days? Never-mind the fact that the mailers would be delivered to cold prospects, whereas the visitors to your website are coming to you! (Much hotter lead)

The bottom line is this: If you don’t have a lead generating website that is showing on the front page of Google when prospects search for homes, mortgages, and loan officers, then you’re missing out on a lot of business… So what are you going to do about it?

Click here now to see how Loan Officer 2.0 solves this problem

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