Online social media offer a path to free leads and increased business

Bill Rice, founder and CEO, Kaleidico.com

As published in Scotsman Guide's Residential Edition, August 2009.

Mortgage brokers are  infamous for sprinkling around their marketing dollars arbitrarily -- a few-hundred here, a couple-hundred there. When all is said and done, however, they're often left with zero prospects; thousands of dollars wasted; and a variety of lonely phone-book ads, discarded direct-mail pieces, and rusty shopping carts with their name and photo.

Some brokers, though, have engaged directly with homeowners and homebuyers online. If you're lagging behind this group, or if you're looking to improve your current online presence, there's good news -- most of these marketing methods are inexpensive or free, and you don't need to be a technological whiz to learn them.

* * *

When it comes to establishing your online presence, you must be able to start a conversation and build an audience.

The Internet is a social place. Unlike the passive nature of radio, television, newspapers and other traditional media, the Web offers the opportunity to engage consumers directly. As you look to start online conversations, understand that effective communication relies on having people with whom to converse.

Audiences comprise the building blocks of online marketing. Attracting customers and closing mortgages isn't necessarily about flashy Web sites and big marketing dollars. It's about building an audience and giving people a reason to contact you.

Homeowners and homebuyers seek the best information available. When you begin to educate consumers about their mortgage troubles and purchase and refinance opportunities, business soon will follow.

A profit-building audience -- one that leads to closed loans and increased business -- grows from valuable information published in creative and interesting ways. The following can help:

• Blogs
• Social networking
• Microblogs
• E-mail

Here's a closer look at each.

Blogs

Blogs are rapidly becoming the standard type of Web site for individuals and many businesses. They offer a simple, quick way to start a Web site, publish valuable content, build credibility and attract an audience.

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