5 Ways Mortgage Brokers Can Supercharge Their Marketing Impact

When it comes to marketing your mortgage broking business these days it’s difficult to stand out from the crowd – research has shown that consumers are exposed to some 3,000 advertising messages per day.

Learn how to market your mortgage broking business by completing the Diploma of Finance and Mortgage Broking Management with Intellitrain.

So how do you “cut through the clutter”, get noticed and attract new clients…simple, be different, be accessible and be known because in today’s marketplace the ability to interact with clients or prospects 1-on-1 has never been easier for brokers.

There are literally hundreds of ways as a qualified Mortgage Broker to really engage with your client base, but here are 5 tactics that can supercharge your marketing efforts and increase your RFE (Reward for Effort).

1. Segment your market

All too often marketing is done on an adhoc basis. Someone from the local paper calls selling advertising space at 50% off their normal rates…seems like too good a chance to pass up, so you throw an advert together, wait in anticipation for the phone to start ringing and guess what…not a single call.

Why?

Well, do your prospective clients actually read the local paper and if they do will an advert in the classifieds section prompt them to call you?

You’ll only know that ahead of time if you’ve conducted research, know who your prospective client groups (or segments) are and know how to appeal to them.

Segmenting your market will enable you to decide where, when and how to market yourself and it doesn’t need to be difficult. In fact, it’s often as simple as sitting down and starting to write out a list of similar characteristics of your clients; age, marital status, first home buyers, investors, how they heard about you, size of deal, why they chose you over another broker.

Once you’ve listed as many characteristics as you can, group them together and very quickly you’ll begin to gain a picture of the types of clients you have, what motivates them and how they came to be a client.

You then use this “intelligence” as the basis for creating a plan of marketing activities designed to attract & capture more of the same clients.

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2. Don’t do what everyone else is doing or what you’ve always done

In our mortgage broker training you’ll learn that this may seem logical, however when you’re busy it’s easy to continue to do what you’ve always done or to use the same tactics from the old “Mortgage Broker’s Handbook to Marketing”…it’s harder to do something different and unique but often the Reward for Effort when you do is substantial.

Today the majority of marketing has moved online, and as a business you too need to be visible online and use the various tools available to produce efficient and cost-effective marketing programs such as email newsletters, but don’t lose sight of the more traditional methods as often they have more impact now.

For example, when was the last time you received a personalised, hand signed letter that wasn’t a bill?

3. Always have a strong Call to Action

In every aspect of marketing your mortgage broking business you must have a strong and visible Call to Action, that is, tell them what they should do next.

If you place an advert in the real estate section of the local paper (because of course you know one of your key client segments reads it) make sure you include a strong Call to Action – use the following as a guideline:

• Start with a Verb – Call, Click, Go To• Make it Memorable & Snappy• Use Stats e.g. 85% of clients have saved money• Have an expiry date or first 25 calls

Here’s an example:Call 0417 XXX XXX today for a Free Home Loan Health Check – 85% of clients have saved thousands of $$ off their mortgage.

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4. Mark out your patch

Localised marketing has never been so easy nor important so it’s vital to ensure you can be found and become known in your local area because if you don’t, one of your competitors will.  Recent studies have shown that consumers are increasingly adding localised search terms when looking for products & services, in fact according to Google, 97% of consumers search for local businesses online.

If you haven’t already done so make sure that you:

Claim your address in Google Places – www.google.com/places

Add your business details to TrueLocal – www.truelocal.com.au

Place a listing in Gumtree – www.gumtree.com.au

In addition to this consider:

Investigating local lead generation providers for brokersWriting a regular column in the local paper  – this will build awareness of you and your business and position you as the “Local Expert”

Important: Always provide a minimum or 2 ways for potential clients to contact you – ideally your mobile number plus email address.

5. Enter Industry / Local AwardsConsumers buy from businesses they know, have been recommended to by friends or family, or recognised as experts. Why, because it’s less risky than dealing with someone unknown, especially when it comes to matters of a financial nature.

That’s why entering various awards such as the Australian Mortgage Awards can have a substantial impact on your attractiveness.

If you work a local area or within a specific market segment then take every opportunity to enter awards – even if you don’t win being a finalist will increase your credibility, especially if you’ve been recognised for say the last 5 years.

Byron Gray is General Manger, Projects & Marketing for Intellitrain one of the Mortgage Broking industry’s leading training providers. Byron has been working with businesses for the last 20 years to increase their revenue and profits through unique and practical sales, business development and marketing strategies.

www.intellitrain.com.au | 1300 735 082