The Three Foundations of Mortgage Marketing: Part 3: Media

In parts 1 and 2 of our 3-part series, we identified the first two foundations of mortgage marketing identifying your market and creating an effective advertising message. Now we’ll focus on the third essential, media. By media, we mean the method you’ll choose to get your message to market. Generally, there are 3 basic categories: Radio/Television (or Mass Media), the Internet, and Direct Marketing. Let’s examine each in greater depth.

Radio/Television (Mass Media)

Unfortunately, although radio and television do reach a broad swath of people, they are expensive and take a scatter shot approach—you might receive some new clientele, but you’ll also waste your advertising dollars by primarily reaching people who aren’t in the market for your services. As such, this is not the best proposition for those in a referral- driven industry like real estate.

Internet

The Internet includes things such as email marketing and social media marketing. Unfortunately, mortgage marketing doesn’t lend itself well to social media marketing; most people don’t go to Facebook or Twitter to scout out refinance options. Email marketing, on the other hand, can be more valuable. If you have permission get in touch with your market via email, this is an easy and inexpensive approach that can keep you in the forefront of your contacts’ minds.

Direct Marketing

Direct marketing to past clients is an excellent way to generate more business. In fact, direct mortgage marketing outperforms other mediums—such as Mass Media and the Internet—in a referral-driven business like real estate. One oft-recommended tool is a newsletter. The benefit of a monthly newsletter is that you can stay connected with past clients, keeping you—and your services—in the forefront of your target audience’s minds. You’re regularly reaching your client base and offering them useful information in the form of a helpful newsletter. And these individuals—many of whom are past clients and already familiar with your services—will be more inclined to think of you when a friend is seeking refinancing assistance, for example. Additionally, newsletters have the benefit of being relatively inexpensive to produce.

Paying attention to the 3 foundations of mortgage marketing—market, message, and media—is important for generating new business. As you hone your marketing with these principles in mind, you can expect to experience greater results and increased revenue.

Titan List is a full service Advertising and Design agency specializing in Direct Mail, Mortgage Marketing, Search Engine Optimization and Website / Graphic Design. Titan List has been around since 1998, and has a team of highly qualified individuals with experience in the marketing trends that fit your business. Unlike other agencies that source their work out, Titan List & Mailing handles the entire campaign in-house. Looking for a special list of data for your business? We can customize any data list for your company.

3 Tactics to Keep from Losing Your Customers to Trigger Leads

You just started working with a new customer and already they are getting calls and direct marketing pieces from your competitors trying to undersell you. While the enemy may seem to be your competitor, the real culprit is the trigger lead. When you pull someone’s credit, the credit bureau may sell your borrower’s information to other brokers or originators. Your borrower becomes a hot lead because they are in the market for a new mortgage.

Buying trigger leads is a personal decision. They are great leads for buyers because they help you target borrowers that are showing real interest in refinancing. These valuable leads are worth the price. However, for the targeted borrower, they can mean cold calls. And let’s face it; no one likes cold calls peddling mortgages. Users conduct some unethical behavior as well. Some buyers claim to be another broker working together with the borrower’s real broker, or they claim to be from the underwriting department and need more information. Everyone doesn’t perform this type of behavior, but it makes borrowers very weary of the practice of using trigger leads.

With all this said, there are brokers that report much success by using trigger leads. They are a hot topic in the mortgage industry, so there has to be some value there. Again, buying them is a personal decision; a decision that must be made for the benefit of your business and clients. But now, we are going to touch on the marketing value in avoiding trigger leads.

Trigger leads could cost you valuable customers. Once inundated with several cold calls and marketing materials, your borrower may blame you for his or her personal information being released. Or, a trigger lead buyer may be successful in coaxing your borrower away from you. So, how do you keep from losing your customers? You can execute the following tactics to prevent loss and earn some marketing points at the same time.

Be up front with your customer. As soon as you begin working with them, explain what happens when you pull their credit and how they could become a trigger lead. Be sure to emphasize that this can happen no matter the broker or originator they may choose to work with. It’s important they understand that it is not you personally selling their information to other brokers. Being honest from the beginning will earn you points and set you above the rest.

Warn them of cold callers using trigger leads. Let them know that you will be calling them for more information if needed, not someone claiming to be affiliated with you or your business. Tell your customer that if someone does call requesting information, they should call you to verify the caller. Explain that brokers buying these trigger leads will go after them full-speed because they are a ‘hot lead.’ Don’t be afraid to tell them that you are working hard for their business and don’t want to see them work with someone else based on a call or mail piece.

Offer to opt them out or tell them how to do it themselves. The website www.optoutprescreen.com allows consumers to opt out of receiving offers for five years online or forever by mail. (This site also allows them to opt in). It can take up to five days for their request to process and up to 60 days for all offers to cease. Make sure your customer understands this wait time.

Trigger leads must be considered individually for your business. If you are on the side of frustration from running from these leads, remember they represent a marketing and customer service opportunity too. Use them to your advantage to earn honesty points and proving to your customers that you have their best interest in mind.

Titan List is a full service Advertising and Design agency specializing in Direct Mail, Mortgage Marketing, Search Engine Optimization and Website / Graphic Design. Established in 1998, Titan and their staff of highly qualified individuals with experience current marketing trends that fit all kinds of companies. Unlike other agencies that source their work out, Titan List & Mailing handles the entire campaign in-house. Looking for a special list of data for your business? We can customize any data list for your company.

Let Humor Help Drive Your Direct Marketing Sales

When it comes to doing business, there are many aspects that you need to take into account to be successful. Customer service, hardworking employees and a great product are all important aspects to regard highly. However, your sales contribute to your bottom line. Without sales, your business would be non-existent. Regardless of what kind of business you are in having stellar customer service is key.  Mortgage Brokers, Real Estate professionals and many other types of businesses can benefit from knowing how to form a strong connection to their clients.

Coming up with creative ways to reach your audience can be a daunting task. With the right tools, your sales team can close more business. With the right system, your marketing team can nurture leads and guide them to a conversion. With the right message, you can push sales. A recent study by Nielson shows that humor can help drive sales. Add this information to your toolbox to contribute to your bottom line.
During the Nielson study, it was found that humor is well received by global audiences, not just social media audiences. The study revealed that 47% of respondents say they resonant well with advertising messages that incorporate humor. In a close second place, 46% of res-ponders said real-life situations drive them to act similarly after receiving an advertising message. Tied for third place, family-orientated, health-themed, and value-oriented messages were ranked by 38% of respondents. Your message, no matter the form of advertising, drives sales one way or another. Knowing this information, don’t be afraid to add some real-life humor into your next newsletter or direct mail piece. Share light hearted experiences that your audience can easily relate to and perhaps even chuckle alongside with you.

In the mass communication web that your audiences live in, your business needs to stand out in order to close business. Adding some humor into your marketing plan can help differentiate your product and services and leave a lasting impression on your targets. The best advertising messages will, in the end, drive sales.

And don’t forget about other opportunities to utilize the effectiveness of humor. In-person and over the phone interactions also open doors to tie in some humor with your customers. Relate yourself to buyers so they feel they are connecting with a person, not just a business. Incorporating a funny anecdote or sharing a funny story can help ease the flow of conversation, especially as you are trying to build trust with your prospective customer.

Test this strategy, but do it tastefully. Not every customer takes to humor in the same way, so make sure it provides a purpose. And don’t over do it. You still want to be taken seriously as a professional, so know where to draw the line of funny verse too much. As with all advertising, make sure that you test your message for effectiveness. If it doesn’t prove to be fruitful, then move on to your next message. But if you are looking for a new way to drive sales, try hitting the funny bone of your prospective customers.

Titan List is a full service Advertising and Design agency specializing in Direct Mail, Direct Marketing, Search Engine Optimization and Website / Graphic Design. Titan List has been around since 1998, and has a team of highly qualified individuals with experience in the marketing trends that fit your business. Unlike other agencies that source their work out, Titan List & Mailing handles the entire campaign in-house. Looking for a special list of data for your business? We can customize any data list for your company.