As a mortgage loan officer, you know that without prospects, you can’t get any leads, and without any leads, you won’t have any sales.
Any effective sales cycle consists of two steps. First, find prospects. Second, nurture them to become leads. The old idea that all you need are the right credentials and an office in a good location of town is no longer enough. In today’s hypercompetitive mortgage business, you can build it, but they won’t come. Even if you work for a bank, you can’t rely on the marketing department alone for lead generation because you’ll be missing out on numerous opportunities if you can’t figure out how to generate your own leads.
Mortgage loan officers worth their weight in gold build their own personal pipeline using state of the art marketing and sales tools. They know how to generate prospects, leads, and clients.
So how do you find yourself in the right place at the right time to talk to the right people?
Here are 7 ideas to dramatically improve your knack for accumulating prospects:
1. Build an informative blog.
Build a blog to provide the public with information about mortgages. Through the use of good content and an understanding of how to use Excel to optimize the effectiveness of your SEO strategy, you can attract people who are researching their options for a good mortgage.
Make your content interesting and relevant, writing posts that answer frequently asked questions about getting a mortgage. If you don’t know how to write in an engaging way, sign up for a writing class or simply hire a freelance writer to create content around your ideas.
Use large, colorful pictures, add social media sharing buttons, and create an email newsletter to get regular subscribers to your blog.
Don’t try and sell in your posts, but write your About page in a way that encourages prospects to contact you to get your personal help in finding the right mortgage. If you like, you can also create a website, where you can go into detail about who you are and what you do. It’s fine to sell on your professional website. Create a link from your blog to your website.
2. Gather testimonials.
Whenever you work with customers, ask them for a testimonial and put this on your website. The idea is to develop overwhelming social proof that you’re the right person to work with.
3. Ask for feedback.
If customers are not happy, for one reason or another, then ask them for feedback. This feedback will allow you to refine how you market and explain things to your customers in the future.
4. Connect through social media.
Besides using your blog to connect to your website, use it to connect with social media platforms. You can share your posts on Facebook, Twitter, LinkedIn, and others.
Another way to take advantage of social media is to connect with target groups by joining special interest groups. On Facebook, for example, you could join a group dedicated to helping business professional’s network.
By befriending influencers on social media and then sharing their content, you will be expanding your circle of influence. Besides building your brand, you might benefit from the law of reciprocity.
5. Write and speak about the mortgage business.
By authoring a book that serves as a consumer‘s guide to mortgages, you will be seen as an expert in your field. You can then leverage this expertise by offering to do free speaking gigs for service clubs like Lions, Kiwanis, Rotary, Optimists, or Quota International.
There are many ways of advertising. You could, for example, advertise your book or blog on Facebook ads or Google’s Pay Per Click. You could put in small classified ads in your local newspapers. You could send thank you letters to all your customers. You could hand out business cards or brochures whenever you go somewhere.
If you want to get good at advertising, you should learn something about copywriting. This will teach you how to write attention-grabbing headlines, describe the benefits of working with you in a few words and close with a persuasive call to action.
While you can certainly meet a lot of people through the Internet, this doesn’t mean that old fashioned networking doesn’t work anymore. Add the art of mingling to your repertoire of marketing techniques.
Marketing is Synergy
Marketing your business works through the process of synergy. Someone might see your ad, buy your book, visit your website, read your blog post, or meet you at a business breakfast club. You have no idea how people will find you. In fact, some may get to know you in several ways – perhaps, read your blog, join your email newsletter, and respond to your social media posts—before they contact you. Since you don’t know the best way for people to find out about you, spread the word about your business through multiple channels. Initially, things might be slow and you feel that you’re wasting your time, but people start referring you or recommending your blog and before you know it, you’ll have more customers than you can handle.