<< Leads continued from Page 102 “There is no such thing as a master
marketer. … Marketing involves
a lot of trial and error to see what
works and what does not.”
media business pages through Facebook, LinkedIn,
Google My Business, Yelp and Twitter.
When you produce this content, one of the advantages is it tends to land high on rankings of search-engine sites. The same is true with reviews on sites such
as Yelp, Google My Business and Zillow. Leads generated this way will have more quality than quantity. But
this takes time to grow and it’s a long-term commitment. Over time, you will see your efforts pay off.
Posting relevant and informative content on social
media platforms such as Facebook and Instagram also
will draw followers to your sites. And that’s a ready-made audience of homebuyers, renters, real estate
agents, certified public accountants, divorce attorneys, etc. Again, there is no money being spent to create this content — only your time.
This strategy also has the advantage of seeing how
many of your potential likes are seeking to learn about
such things as the mortgage industry.
More business-oriented sites such as LinkedIn or
Google My Business will get your name and company’s
name online. If you generate informative mortgage-related content, it also will tend to rise in search-engine rankings.
Again, this growth can be slow. You need to attract
followers who want to be informed by your content
and this isn’t easy. This can be a waste of time unless
you know how to work and develop these sites.
There is no such thing as a master marketer. Instead,
there are only great testers. Marketing involves a lot of
trial and error to see what works and what does not.
Some types of mortgage marketing work well in some
areas of the country but fail to do well in other areas.
This is why you need to test your marketing. Testing
will determine if you need to pay to push your content
in front of the audience or attract leads through more
organic means. Test these two avenues to see which
one will pay off in the long run.
n n n
One road that you don’t want to go down is to pass
on marketing altogether. During slow times, mortgage
companies or individual originators will cut or reduce
their marketing budgets. This is a bad idea. You can
spend very little money — or nothing at all — while
pushing out your message and getting people to raise
their hands. n
has already been written. Have you ever gone to your
mailbox (which may be a once-a-week visit now) and
not had any solicitation mail? It is still a relatively sim-
ple way to market to renters and homeowners.
There are advantages of direct mail, especially if you
have preselected data that helps you know who your
target market is and can tailor your message to them.
In a less crowded space, you can rise above the other
clutter in the mailbox if you have the right message.
Once you do receive calls, the lead will be of better
quality than a social media lead.
Still, direct mail can be costly and it’s a long-term commitment. The one-and-done method will not work here.
You will need to commit to at least a year with this
avenue to see some good returns and you will need to
mail out a lot of pieces each month.
Print media is another avenue that advertisers
claim is dead. It can be a costly road to travel. Before
you explore this avenue, make sure the publisher has
a good marketing plan that spreads a wide net to capture the audience with the printed material. This will
be more of a branding tactic than lead sourcing.
This will brand you over time as the local expert.
And one option is you can co-brand with an affiliate to
bring the cost down. Newspapers aren’t the only route
either. Other types of print publications — such as
magazines and trade journals — may have big distribution in your area.
And, like direct mail, print-media campaigns can be
very expensive. Your short-term return on investment
will likely be very low, so this is a long-term commitment for your marketing budget. Many print-media
outlets want you to sign a contract anywhere from
90 days to a year.
There are real estate websites you can market on
such as Zillow, Homes.com, Realtor.com and Trulia.
People on these sites are looking for one thing only —
to buy a house. So, you can co-brand with a real estate
agent. These sites offer a focused and targeted audience of potential buyers who need the assistance of a
real estate agent and mortgage professional.
The advantage of these sites is that once you have a
lead, that person is more likely to engage with you
than a Facebook name and number. It’s also less competitive because it’s a cost and commitment that
exceeds most mortgage originators’ budgets.
Expense is probably the biggest disadvantage, however, of using real estate websites. You will need to
allot a significant chunk of your marketing budget to
these sites to have a real impact on your lead count.
These sites also require a long-term contract from six
to 12 months, with a set fee over that time.
These pay-for-lead efforts can load up your customer relationship management system with names,
numbers and email addresses. You will need to work
these leads. Remember, this is about quantity and
many leads won’t work out.
Let’s explore some marketing avenues that will take
some time but have minimal, if any, monetary costs.
These types of free marketing will be slow to ramp up,
but once established, can take on a life of their own.
The internet can benefit mortgage originators
with a free way to market their product, services
and knowledge, but not many originators are in this
space. Why? Maybe because it’s something new they
haven’t learned, they’re unsure where to begin or
they’re looking for more immediate results. Or they are
unaware of how powerful it can be.
Without spending a dime, any originator can post
videos to You Tube or Vimeo, or write informative blogs
and post relevant and informative content on social
Become an expert
and increase referrals
n Online ads
n Direct mail
n Ads in newspapers and magazines
n Ads on real estate websites such as Zillow
n Posts on social media sites