If the big word in the industry is HARP 2.0, don’t try to go against the grain and market for something else. The public is well-aware of the changes in the mortgage industry, and is keeping up on buzzwords like “FHA STREAMLINE” and “HARP.” Find a marketing means that works for you and your budget and get to work.
Don’t try to reinvent the wheel
When you go to trade shows or speak with colleagues about how great their own campaigns are working, go after the same thing! The marketing is working because the market is accepting it. Anyone who tries to tell you that they are the best marketer because they just know, isn’t worth your time. Find a marketing firm that follows the trends, and then follow them yourself. The market will always show you how to best offer your products.
Test, measure, test again
Many people begin a new marketing campaign with a new marketing firm and think that they should be setting records right away. This couldn’t be further from the truth. In fact, in most cases, the first campaign is only the beginning. Campaign number three or four is where they really start paying off.
Talk to others who are successful
People who successfully market commit the resources necessary to find a campaign that works for them. This can be exhausting, but once you find your niche, it will pay dividends; and you must exploit it. This is the campaign that gives you the return-on-investment (ROI) you need while being versatile enough to change as guidelines do.
Find a sales approach that works for you
Many people have had less than profitable results trying their own marketing at one point or another. Chances are that this is because one of three things has happened:
1.) Wrong campaign
You must find a marketing campaign that works with your own sales ability.
2.) Wrong company
There are plenty of quality marketing firms to work with. Don’t try to manage your own marketing. Let the professionals help you. You’ve got loans to close or an office to run. A professional marketing firm can make your year, while managing your marketing and saving you valuable time and resources.
3.) Market the product that your most comfortable with
All too often, salespeople want to jump onboard with a marketing campaign just because they talked to a colleague who made it work well. Find a product that you’re an expert on. Credibility is key to all sales and marketing, and if you don’t fully understand what you’re selling, it’s going to be hard to build that credibility. Take the low-hanging fruit first.
Tips for 2012
►Direct mail responses are up. If you haven’t tried direct mail in a while, it might be time to give it a try again.
►Internet leads work if you work them. Don’t expect to make an easy buck … those days are over. If you must use them, make sure you get exclusive Internet leads, and not those $10 (sold 10 times) ones.
►Live transfers are a thing of the past. With as many as 90 percent of the population on the Do-Not-Call List, telemarketing just isn’t what it used to be.
►New data files are available specifically for the mortgage industry. You don’t have to get set up with credit bureaus to get qualified data anymore. Mail houses won’t have it, but good marketing firms will.
►Trigger leads are still being sold by the credit bureaus. Stay aware of what methods your competitors are using. Whether you are using them or not, it’s a reality that must be dealt with.
►FHA is going to be BIG next month, get started early. Chances are, your competition has already got something in the works.
►Last, but not least, ride the HARP 2.0 wave! This has been the biggest thing to hit the mortgage industry since 2009!
Medford, Ore.-based TagQuest is a full-service marketing firm created specifically for the ever-changing business world. TagQuest assists companies with their direct marketing, advertising and branding needs, and knows what it takes to generate quality customers and, most importantly, how to retain those customers for years to come. TagQuest brings forth a unique opportunity to utilize our experience and expertise in varying consumer sales and marketing environments. For more information, call (866) 376-5540 or visit Tagquest.com.