Marketing is an important function for any mortgage broker but at times, it can be difficult to devise new, innovative strategies for attracting clients. If you feel like your marketing is in a rut, we have some creative marketing ideas for mortgage brokers to help you get inspired and to reenergize your marketing efforts:
1. Offer a Seminar.
Consider offering a seminar on a mortgage-related topic that you know well. For instance, you could create a seminar geared toward first-time homebuyers or people looking to refinance. To cut costs, use a videoconferencing service for the seminar rather than renting a facility. Walk the attendees through the ins and outs of the loan process, answer questions, and later, follow-up with the attendees via telephone. This is a great way to attract new clients by positioning yourself as a credible authority in the loan industry.
2. Use Niche Marketing.
Niche marketing is a type of marketing that concentrates on a small, specific subset of the population. For example, a niche marketer might choose to focus on the “singles community” or home buying issues that are specific to single women. By creating advertisements that are geared toward a well-defined subset of the population, you can target a market that is often overlooked by your competitors.
3. Send an Unusual Mailer.
Want to get the attention of local realtors? Rather than making lots of phone calls, why not try an unusual mailer? For example, you can buy red mailing tubes that resemble firecrackers, put a well-written letter inside, and send direct mail to realtors you want to do business with. This dramatic approach gave one loan officer an open rate higher than 90%, well above that of a typical direct mail piece.
4. Create a Relocation Kit.
People who want to move into your local area are often seeking mortgages and home improvement loans. To generate leads of people who are moving, create a free relocation kit. Offer items like a change-of-address form, important phone numbers, information on local schools, coupons from neighborhood merchants, etc. Then, advertise the kit in local real estate magazines and at realtors’ offices. This is a great way to target people who are going to be in need of your services.