As a mortgage originator operating your own business, big or small, keeping up with the competition through marketing can be a challenging task. There are countless ways to market your business in today’s ever-connected world, but some methods prove more beneficial than others.
The most effective ways to promote your business include social media and e-mail marketing, boosting your online presence, face-to-face networking and promoting aspects of your business, including your licenses and bonds. If you’re looking to grow your business through new marketing initiatives, consider these tips.
Weigh your options for social media marketing. Social media networks such as Facebook, Twitter and Instagram allow for easy engagement with potential clients who may not otherwise know you exist.
Each platform has its own pricing and structure for creating extensive marketing campaigns, but you also can simply start posting valuable content to each site under your business name. Sharing blog posts, industry news or other helpful information can reach your next client faster than nearly any other type of outlet.
Another way to market your mortgage company is through e-mail marketing campaigns. Nearly all consumers have e-mail addresses they use on a daily basis for connecting with friends, colleagues and even businesses.
If you have an e-mail list of past borrowers and potential clients, consider creating a drip campaign for this list. A drip campaign is a series of e-mail messages that provides information or news about the industry, and encourages people to reach out if they want more information or need your services. This can be set on autopilot from the start and consistently keep you in front of potential clients.
Mortgage originators can stand out among their competition by beefing up their online presence as well. There is a good chance potential clients will visit your website at some point. If you have an out-of-date website that is slow to load or doesn’t provide accurate information, you’re likely to miss out on new business. Improving your online presence starts with your website.
Ensure you have conquered the basic components of an engaging site by including visuals, as well as easy-to-use design, cohesive branding and messaging, and relevant and timely content for visitors. A professional, attractive site gives potential clients the best first impression of your brokerage business.
Above and beyond a refreshed website, originators can utilize search engine optimization (SEO) to get more marketing leads. Search engine optimization allows a website to show up at or near the top of the list when someone searches for a specific type of business, product or service.
SEO strategies often begin with keywords on a website, but there are several different paths to take to increase online-search traffic. Working with a professional SEO marketer can make a significant difference in this realm.
Finally, some mortgage brokers use available dollars for paid online advertisements. Using paid ads has the potential to lead clients directly to a website, providing an opportunity for passive lead generation over time. Paid ads end up at the top of the search results on sites like Google, and it is estimated that a large number of web users click on these ads because of this placement.
A website needs to be in good shape so that potential clients feel confident the business is reputable, and originators may consider adding a call-to-action button or link to more quickly convert prospects to borrowers. Taking the time to spruce up your online presence — from your website to your social media pages — ensures that you have your best foot forward with prospects who are looking for you online and is essential for building a strong marketing plan.
If e-mail and social media aren’t your cup of tea, consider going about marketing the traditional way. Networking with other professionals, individuals in your neighborhood or other groups can be one of the most valuable ways to make new connections with prospects.
Whether you live in a big city or a small town, chances are there is a networking event taking place at some point in the next few weeks that you can attend. Come prepared with business cards, a quick overview of who you are and what you do, and who you’re looking for in terms of new clients. Also, have a plan for following up with the people you meet at networking events, so it is not time or effort wasted.
Each industry professional working as a mortgage originator is required to go through several steps to get licensed. Part of the licensing process is obtaining a mortgage-broker bond, which works to protect clients from bad business practices.
As a licensed originator, use this bond as a way to market your business. Potential clients want to see you are doing all you can to protect their interests, and highlighting the fact you have a broker bond is one way to do that. Think about adding a line to your e-mail signature sharing you have your bond and license, or add a copy of the bond certificate to your office walls. This puts your commitment to your business and your clients front and center.
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These simple marketing strategies can make a world of difference in growing your mortgage business in a highly competitive market. Be sure to consider your budget for each strategy, as well as the marketing initiatives that will work best for your potential clients, before you set out on a new plan.