In parts 1 and 2 of our 3-part series, we identified the first two foundations of mortgage marketing—identifying your market and creating an effective advertising message. Now we’ll focus on the third essential, media. By media, we mean the method you’ll choose to get your message to market. Generally, there are 3 basic categories: Radio/Television (or Mass Media), the Internet, and Direct Marketing. Let’s examine each in greater depth.
Radio/Television (Mass Media)
Unfortunately, although radio and television do reach a broad swath of people, they are expensive and take a scatter shot approach—you might receive some new clientele, but you’ll also waste your advertising dollars by primarily reaching people who aren’t in the market for your services. As such, this is not the best proposition for those in a referral- driven industry like real estate.
The Internet includes things such as email marketing and social media marketing. Unfortunately, mortgage marketing doesn’t lend itself well to social media marketing; most people don’t go to Facebook or Twitter to scout out refinance options. Email marketing, on the other hand, can be more valuable. If you have permission get in touch with your market via email, this is an easy and inexpensive approach that can keep you in the forefront of your contacts’ minds.
Direct marketing to past clients is an excellent way to generate more business. In fact, direct mortgage marketing outperforms other mediums—such as Mass Media and the Internet—in a referral-driven business like real estate. One oft-recommended tool is a newsletter. The benefit of a monthly newsletter is that you can stay connected with past clients, keeping you—and your services—in the forefront of your target audience’s minds. You’re regularly reaching your client base and offering them useful information in the form of a helpful newsletter. And these individuals—many of whom are past clients and already familiar with your services—will be more inclined to think of you when a friend is seeking refinancing assistance, for example. Additionally, newsletters have the benefit of being relatively inexpensive to produce.
Paying attention to the 3 foundations of mortgage marketing—market, message, and media—is important for generating new business. As you hone your marketing with these principles in mind, you can expect to experience greater results and increased revenue.
Titan List is a full service Advertising and Design agency specializing in Direct Mail, Mortgage Marketing, Search Engine Optimization and Website / Graphic Design. Titan List has been around since 1998, and has a team of highly qualified individuals with experience in the marketing trends that fit your business. Unlike other agencies that source their work out, Titan List & Mailing handles the entire campaign in-house. Looking for a special list of data for your business? We can customize any data list for your company.