Pursuing Corporations as a Niche
By Brian Koss
There is a source of business that doesn’t require you to send a continual stream of fresh marketing materials or daily bring a better donut. The area of corporate and affinity marketing is still basically an undiscovered practice. Why? Maybe it’s because it is intimidating to most people and requires patience. It is not a niche that is suitable for everyone, but it is clearly able to be mastered by more folks than are currently pursing it.
Too many individuals either think that they can’t offer what the big companies do, or they aim too high for unattainable relationships. One key to success in corporate/affinity marketing is knowing what businesses are headquartered in your area, who is moving in or expanding in your area, and names of influence in those organizations. You can find their information in the business section of your local paper, in regional business journals, or on the Internet. The other key is to know what you excel at. For example, if you can’t do multi-state, don’t pursue a multi-state business. You need to meet the needs of those you pursue.
Once you have targeted the companies that best match your abilities, you need to begin networking with your personal database and your vendors (attorney/title/appraiser/realtor /builder) to see if they have any relationships or connections with those firms. But the best source is your past and current customer database! You have the perfect opportunity during the application process to probe for partnering opportunities while you take a good 1003.
(First you should be reviewing the W-2 or paystub they have provided upfront, but we will assume you haven’t perfected your application technique yet)
A sample script may go like this:
“Where do you work now? Do you like it? How long have you been there? What is your title there? Is this the Headquarters? Do you have offices outside the state and where are they located? Is HR located in HQ? We will need to do a verbal verification of employment prior to closing, so who would be the best person in HR to do that with? Do you know them well? Does your company have any banking or credit union relationships now? I’m asking because we have a special benefit program that may fit into your company’s culture and provide you a financial benefit as well. If you can get me an appointment with a decision maker in HR prior to you closing on the loan, I can give you $250 off your closing costs. Here is a brochure on our program. Please share it with your HR contact and let her know I’ll be calling.”
When you call HR, your script may go like this:
“I apologize having (their employee) put you on the spot like that, but I hated to see him miss the opportunity to save $250. I promise to be brief. I just need 20 minutes to interview you to determine if this benefit package is the right fit for you and your firm’s culture. Does this time next week work for you?”
If they stall you at this point a phone appointment can work – even right then works. Be sure to have an internet-friendly presentation ready to send.
When you get the appointment with the HR contact, you must do your homework in advance. Virtually all companies have websites with their corporate structure and history easily available, usually in “About Us” or “Investor Relations” sections. You want to tailor your service to mold with their culture. You must be seen as a “no-cost, no-risk” benefit that can only make your HR contact look good. That first appointment, whether by phone or in person, should be a targeted and efficient series of probing questions with anticipated follow up questions. You should not go into your pitch at that time, but ask for a face-to-face meeting to present your service after you have had time to tailor a package to fit their needs the following week.
When you return with a professional, customized presentation the next week, confirm that you heard the issues and concerns from the last meeting correctly. Tackle each one of them, asking for confirmation at the end that you have addressed satisfactorily the concerns. Once you have come to an understanding, present a series of marketing options for them to choose how to introduce your service into the company. This list will act as a “contract” to follow over the following months and ensure that the relationship grows.
During refi booms, every homeowner in that company is a customer. But in any market you are perceived as a debt management expert, trusted by the company to provide good advice. You are usually the first call to educate the employee or the last call used to validate a previous offer -- all good positions to be in. Remember to do your homework on potential companies, be an opportunist with your database and pipeline, and be disciplined in your follow-up. If you do, a very rewarding piece of your business will grow over time.