Reach and educate borrowers with video and audio marketing on the Internet

Roger Vetruba, CEO, MortgageMovies.com

As published in Scotsman Guide's Residential Edition, May 2007.

Online audio and video are the marketing story of the year. In fact, Google's recent $1.65 billion acquisition of YouTube serves as proof that online video is big business. In addition, podcasting -- an audio equivalent of blogging -- grew tenfold in 2006, according to Forrester Research.

So what does this mean to the mortgage industry? Opportunity.

Every mortgage requires explanation, but it is usually more than anyone wants to read. Let's face it: People are busy and sometimes lazy, and reading the description of an option ARM is as much fun as a root canal. Nevertheless, people need and deserve to understand the terms of any loan they obtain.

Marketing through online audio and video is well-suited for meeting this challenge. By creating online audio clips and videos, mortgage professionals can reach out to borrowers and educate them on mortgage products and terms.

Forms of online media

Informational marketing through online audio and video generally takes a few forms. Online video is compressed into a media file, which is often created and viewed through video software.

Podcasting is the audio and video equivalent of blogging. It refers to a simple publishing method by which people "subscribe" to your "channel." Any time you produce new content, it is automatically downloaded to the subscribers' computers, MP3 players or cell phones, many of which now support video.

Originators who provide media for these devices do more than just open another channel. They give people an immediate contact method, such as clicking to ask questions or to apply for a loan.

Because podcasts are subscription-based, they are best-suited for timely or topical content. Some mortgage originators podcast weekly market updates for consumers or marketing ideas for Realtors or other referral partners. Providing a market update for Realtors to play for clients in their car can deepen your relationship with those Realtors. Simultaneously, it puts your name in front of their clients. Giving them tools for success can create loyalty among your referral sources.

Although some people use podcasting to distribute consumer-centric product explanations, there's really no reason to do so. Instead, your Web site likely is the best place for general, informational topics. This leaves your clients in a position to take the desired action, such as calling you for more information or to apply.

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