Real Life Marketing Ideas For Mortgage Brokersgary
Having just read a small article in one of the industry magazines with a number of marketing tips which some of which certainly have some merit but seem to be aimed maybe at some other industry or students I thought we could do with an alternative list of marketing ideas specifically for mortgage brokers?
Marketing – This is, if not everything then almost everything. As an ex-mortgage broker I think I’m allowed to say that with the right training, sourcing and CRM software a monkey could almost write a bog standard mortgage. Of course fortunately for us brokers there are increasingly less bog standard mortgages around and even fewer highly trained monkeys so we’re very unlikely to be out of a job in the near future. On the other hand at least 87% of firms that we come into contact with that have gone to the wall have done so because they have been unable to pull in enough work, simple as that! As we often say to our clients in their first year as mortgage brokers, concentrate on marketing, do everything you can in that area, put your head down, just keep pushing and you’ll be fine.
Brand – Simple, realise that at first you won’t have one, it’s just in your head. On start-up nobody has heard of you, nobody particularly wants to do business with you because of you or your firm’s name. That’s why I say marketing is key, but remember this will change as you draw more customers into your web, make sure you treat them better than you would like to be treated yourself, put your name and logo, if you have one on everything and keep in regular contact with your client base as it grows.
USP? – Not always easy to work out but if you deal mainly in a particular niche market, are super friendly, super efficient or just very persistent on your client’s behalf, make sure everyone knows it.
Check out the competition and copy their good bits – I don’t mean walk and talk like them, dress like them, use their style or their product range. But have a good hard look at other broker’s websites, particularly the successful ones. See if you can find out where they make their money. For example, I always kept my ears open at insurer or lender seminars and often picked up more tips from other brokers in the room than the people presenting at the seminars. For example, if you hear someone telling a colleague that they’ve had success in getting clients from breakfast club meeting then give it a go, it might work for you. In fact you’ve now heard it from me so give it a go anyhow, networking might seem a bit stiff at first but most people get used to it, get good at it and eventually grow to enjoy it, and it’s a proven way to pull in business.
Make it easy to use your services – Or to put it another way, don’t put barriers in the way of potential customers who want to use your services. If you can’t answer the phone yourself and you haven’t got admin in place, get a virtual PA to do the job. If you’re bigger or better funded and that’s not a problem then make sure all of your advertising and company material has contact details on it including working links to your website and while I’m on that subject make sure the website is up to date, looks clean, is mobile friendly and gets regular updates, especially if you’ve got a blog on it. The number of mortgage broker websites that still mention the FSA is amazing,