Caitlina Fuller asked:


Every business benefits from marketing and the mortgage industry has long known this fact. Mortgage companies actively participate in marketing campaigns through the use of seminars,  press releases, advertisements in the media, cold calling, various lead generation tactics and by word of mouth (WOM).

The internet is widely used in mortgage marketing, most notably through the use of a mortgage website. Mortgage companies can take many different approaches to marketing, ranging from advertising early mortgage approvals, short-term loan  processing, low interest rates, or bad credit mortgages.

Mortgage marketing is probably most commonly done via telemarketing. Telemarketers are employed which call people from a random list. If the person contacted is interested in a mortgage, the lead is send on to the mortgage company itself. Using what is called a hot transfer method, a call can be transferred directly to a representative of the mortgage company.

 

Mortgage marketing services can take many forms. Many mortgage firms hold seminars for a select group of people who are most usually real estate agents and prospective home buyers. The mortgage companies will put on a series of presentations wherein they provide an incentive for people who purchase their mortgages on the spot or within a limited number of days. This method is quite effective but of course it can only be used periodically.

 

Professional mortgage brokers play an important role in the world of mortgage marketing. Since banks cannot address or accept problem loans themselves in a direct manner, they allow the brokers to do the job for them. Banks maintain friendly relationships with mortgage brokers as they are their best source for marketing mortgages. The brokers take on the task of initiating and processing the loan before they turn it over to the bank. Most brokers are capable and trained to deal with all types of loans, including government mortgages. It is estimated that fifty percent of all mortgages are initiated through mortgage brokers.

 

 Home buyers are turning to the internet more and more these days and using mortgage websites. There are many benefits to borrowers who choose use a mortgage website. The borrower gets a very quick response using the website compared to what they would get by contacting a bank directly. These websites give the customer multiple interest rate quotes from which they can review and compare rates, fees and the pros and cons of each offer. 



Judith

Tom Domin asked:


If You’re Not Getting Complaints, Your Mortgage Marketing Is Probably Not Aggressive Enough

Quite often I’m asked the following question: I just received a couple of complaints as a result of the marketing campaign that I’m running. I’m concerned about this…should I change my marketing program?

Here’s my answer…

If you’re getting complaints and either inconsistent or even no results (no new mortgage leads and prospects), it’s time to re-visit and evaluate the details of your marketing program. The answer is yes!

On the other hand, if you’re happy with the number of leads and prospects that your marketing program generates…the answer is no!

There is a very important “success lesson” here, and a good mortgage marketing lesson as well…you just can’t please everyone! Whether you’re in contact with your mortgage list once a year or once a day, not everyone will be happy with your effort.

At any one time, only a small select group of people on your list are really interested in your last mortgage message and can actually benefit from the product and service you are promoting. Remember, only 15% to 20% of your list will be making a mortgage decision in the next twelve months.

That means that close to 80% of your contact list will possibly ignore, delete, file away, and/or throw away your last marketing message. Plus, the chances are good that someone on your list will all of a sudden decide they don’t like you, don’t like what you have to say, or don’t like your the information you are providing.

So, don’t be surprised and don’t panic if you get a complaint or two or even three. Continue to keep your name in front of your contact list and continue to provide them with various anniversary and holiday reminders, coupled with timely mortgage, finance, budget, credit, and identity theft information.

Consider my situation…

There are very few days that go by when I don’t get at least one hate email. Yes, it’s true. And, I must tell you…I like it!

It means that I’m getting readership. If someone complains, at least I know they are reading my stuff. I’m getting their attention and that’s never a bad thing. That’s exactly what I want.

If you are not getting some sort of response from your mortgage marketing program you are not marketing aggressively enough. If you are not irritating someone, you are not marketing hard enough or frequently enough.

The real key to your mortgage marketing program is creating a response from the audience you are targeting. You’ll only get a response if you hit someone emotionally. Sometimes the emotion is negative, and the person just won’t like what you have to say. That’s ok. It doesn’t matter!

The negative people won’t work with you on a mortgage anyway. Receiving negative comments or complaints is just a part of doing business.

It doesn’t matter if you have the greatest mortgage company or product on earth you’re going to have someone that is unsatisfied. Someone that wants to removed from your contact list. Again, it’s just part of business and completely normal.

So don’t try to please everybody, because you’re not here for everybody, you’re just here for somebody that needs you. And, if you aren’t irritating someone in the process, then you aren’t marketing aggressively enough, I guarantee it.

So go ahead, irritate the heck out of someone. It means you’re doing a good job of mortgage marketing and tapping into people’s emotions. Instead, pat yourself on the back for a job well done.



Charlene