In The News: Marketing Wisdom

by Gwen Buehler, Marketing Manager, In Touch Today

We know you are busy running a successful business - and enjoying life. That said you may not have time for browsing the press for helpful marketing advice and wisdom.

Below are a few helpful tips and excerpts we found to be quite valuable while reading through a recent issue of Mortgage Originator Magazine. Take a look at what industry experts had to say...

LEARN FROM THE EXPERTS ABOUT...

The Current Market and New Opportunities:

“Over the last two years, we have eliminated through attrition more than one-half of our administrative professionals. Our marketing has always been to our existing relationships and we have not changed either our frequency or mail volume.”

“We have many clients that can still benefit from today’s rates because they are qualified buyers, who are buying, debt consolidating or cashing out. We are looking into Reverse Mortgages and also adding to our Commercial Lending programs and marketing.

Key Take-Away: Don’t give up! There are still plenty of clients out there buying, selling and refinancing homes. You must keep in contact with them to continue to build your business, and think of new ways to bring in new business such as expanding your niche markets.

Marketing:

“I am also aggressively adding to my database. Cutbacks are quick to happen in a down market but I don’t think this is the time to cut back on profitable activities such as targeted marketing.”

“I have actually increased the size of my database and am exposing all to not only the issues at hand, but highlighting certain products that still have a place in this market. FHA, VA and state bond programs are also great to re-introduce as the market has softened a little.”

Key Take-Away: Keep everyone you know in the loop! Expose your database to as much information as you can– consistently. One easy way to stay consistent is to set your mailing programs up on an automatic mailing schedule.

Niche Marketing:

“We are focusing much of our marketing effort right now on getting out into the strategic partner community and giving Seminars about what is happening in the mortgage market and emphasizing to both existing partners and new prospects that we are in the business for the long haul.”

“We are also emphasizing FHA loans to our builder partners who are seeing their sources of financing drying up. FHA is going to be a key loan to get many customers into homes.”

Key Take-Away: Stay on top of marketing hot products! When you find a need in the marketplace (like FHA loan’s right now) act fast by sending FHA Postcards to prospective clients and professional partners. If they don’t know about it, how do you expect them to need it?

Adapting Your Marketing Plans:

“In order to maintain business over the past few months, and then more so now, I have been increasing my marketing. Normally I send out a Newsletter each quarter and send something of interest to borrowers one other time.”

“In the past six months or so, I have been targeting my client base as to who should be refinancing and why, which might involve their short-term ARM is about to adjust, they have a child who will be off to college soon, they have spoken about home improvement, they are looking to retire, they have a child who needs medical help or rehab, they are thinking of debt consolidation and so forth. In addition I have tried to think ‘out of the box’ with different financing vehicles such as commercial deals, reverse mortgages and construction loans.”

Key Take-Away: Always be thinking! As you can see, there are so many ways to capitalize on your past clients and they ever-changing needs. Be proactive and contact people that you have spoken with in the past that you know would benefit from changing things around with their current financial plan. Often times, they just need someone to remind them to take action. Check out the extensive line of Prospecting Postcards to easily accomplish this task.

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In Touch Today is a marketing company based in Denver Colorado that assists professionals in increasing their repeat and referral business as well as building professional referral sources and prospecting new clients. www.intouchtoday.com