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   ARTICLE   |   From Scotsman Guide Residential Edition   |   September 2007

How to Enhance Modern Marketing Management

Keep better tabs on your efforts and reap more referrals and rewards

In the school of mortgage marketing, frequently contacting current and past clients is like mastering the ABCs. As technology plays a greater role in this relationship management, however, managers and owners are left with questions.

  • With ever-tightening regulatory and compliance concerns, how do you monitor your company’s marketing activity?
  • How do you manage and control this activity across dozens or hundreds of originators? 
  • What are the simplest, most-cost-effective strategies to employ?

When answering these perplexing questions and seeking technological solutions from vendors or marketing companies, it can help to consider four key components to marketing systems.

1. Mandatory, simple compliance

Unfortunately, many broker-owners enforce little or no adherence to compliance guidelines when it comes to marketing. Often, it’s because they lack the resources or initiatives to handle these issues effectively.

Thankfully, solutions often exist. When seeking a marketing solution, find out how each marketing company is set up to monitor communication pieces from the top down. Some companies offer the ability to control and track every communication piece, from logos and licensing requirements to specific messaging.

Those with compliance reponsibilities can have the ability to log in to one system and quickly view all originators and their specific marketing communications. This can be a helpful tool for any company that doesn’t have a compliance officer but wishes to implement some level of control.

2. Measuring abilities

Merely having a database of clients and mailing to them isn’t enough. Sending regular communication pieces might build customer loyalty and enhance corporate branding, but how do you measure the effects? Who has the time to document each repeat client, referral source and marketing campaign?

Often, a relationship-marketing company can do this for you. Systems often can monitor your business, measure your client loyalty and maximize your referral network with real-time analysis.

For decisionmakers, it’s crucial to have a quick, simple view of reports that analyze the source of repeat and referral business. Envision the ability to view every originator at a glance, to see each affinity partner associated with that originator and to aggregate data for a company-wide view. This can show where marketing efforts are building loyalty and which are most effective.

3. Single platform

Too many companies find themselves strapped by their own multiple systems. Some employ several pieces of software, numerous spreadsheets and various Web-based programs, each of which handles a different task.

A number of these companies could find value in a simple, single-platform solution for end-to-end communication, tracking and reporting. Some marketing operations can produce, fulfill, monitor and report your client loyalty activity in one service.

4. Relationship enhancements

When searching for a marketing solution, engage companies that enhance partner relationships.

Systems can co-brand affinity partners that refer business. They also can offer dynamic reporting and additional value-adds, such as client birthday reminders and multi-language marketing pieces.

•  •  •

By enlisting intelligent marketing solutions that feature the four components above, managers can reallocate precious resources into other vital functions of their business, such as recruiting and retaining top originators. They also can convert their clients into lifelong referral sources.



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