Mortgage Marketing Tips

Any kind of marketing job can be tricky to handle until you hit potential customer-rich regions. When it comes to mortgage marketing, your job is even more challenging, in times of economic recession. With the property market slowly easing back into gear, there are new opportunities for mortgage brokers to make inroads, through some smart marketing ideas.

Ideas That Work

Any marketing project is a lot of hard work and you need to invest a large amount of your own time and money to reach out to people. There is a lot of homework involved in researching your product. It forms the basis of your marketing strategy. Through research, you need to determine your target customer base.

You should direct your strategy towards market niches that have demand for your product. In your case, it is the real estate market. Mortgage loan is a financial product which requires you to penetrate a wide potential customer base, which are people planning to become new home owners. Your strategy should be all about building relationships and advertising your services widely.

Mailing Brochures
One of the simplest ways of reaching out to people is sending out brochures, detailing the mortgage loan services, offered by you. Let there be a personal touch in the entire wording of the prose. You will have to spend a lot on creation of the advertising brochures and mailing costs, but even if you can net 10% of the people into your network, the money spent will be completely worth it.

Email Marketing
You can get email addresses of potential customers, from real estate agencies. One of the low-cost ideas is mailing these people, via the Internet. The best part of using email services is that you can reach a wider user base, with practically no mailing costs, as electronic mail is free. You can also use online classifieds like Craigslist to market your services.

Local Business Networking
Your past customers can provide you access, to their own business contacts. Contact local business owners who have been your customers and procure contacts of people who may be looking out for a mortgage loan. You can mail them brochures and advertise your services. This can get you copious leads.

Loan Fairs
Every year, home or mortgage loan fairs are organized by real estate developers, where you can showcase your mortgage loan services. This is one of the most lucrative ideas, as these fairs attract a fair number of first-time buyers. Loan fairs are also good avenues for presenting mortgage services.

It is going to be hard work, reaching out to people, but if you put in your efforts and build a contact network, things will ease out eventually. Have faith and persevere. Take advantage of opportunities that present themselves.

Email Marketing Tips

Blog_MarketoWebinarLet’s understand first, what marketing is. It is an activity that aims at planning and developing a product by identifying and understanding the needs and demands of the consumer. Philip Kotler, one of the greatest marketing experts of the world, defines marketing in simple words as ‘satisfying needs and wants through an exchange process’.

Some people think that marketing a product and selling it are the same. However, let me clarify that although these activities are interrelated, they are different. Selling is about gaining revenue. Of course, it does involve a lot of planning when the product comes to the selling stage.

But it does not involve any kind of consumer research. Whereas marketing, on the other hand, involves research, surveys, planning and finally developing the product to sell it in the market. Therefore, it can be said that marketing is the foremost stage in product development and selling comes much later into the scene, when the product is actually ready for sale.

Email Marketing

This type of marketing can be defined as promoting, advertising, and finally selling products through emails. The easy usage, cost-effective nature, and worldwide access granted by it, has made it popular in a very short time. It is a marketing strategy with a high potential to deliver your product information and actually sell it.

This type of marketing is classified into three categories.

  • Direct Marketing: This is the simplest strategy. It involves marketing and promoting your products, by directly sending emails to a large number of people.
  • Retention Marketing: This is another strategy, used to advertise, promote, and market your newly introduced product to the existing customers through newsletters.
  • Indirect Marketing: This method consists of marketing your product through the email addresses of other people or flashing your product on other websites, after seeking permission from the website owner.

Tips for Email Marketing

Email marketing seems to be easy, right? But reading these simple tips would make this activity even easier and useful.

Content is King
Your product has increased chances of getting viewed and most importantly understood, when your product content is readable. It needs to be designed in such a way, that each and every person of your targeted groups understands what exactly you want to say and finally sell.

Consumer-oriented Content
Readable content is always the prime necessity of email marketing. However, to generate interest in the consumer’s mind is equally important. So, try to create such content, which would not reflect your urge to sell the product and make money out of it, but your concern for the consumer’s needs and demands. Also attempt to create such a title in the preview page of your email, that sounds familiar and interesting. Ensure that it does not resemble a spam mail. A spam email would get deleted within no time and thus, all your efforts would go in vain, no matter how good your content is.

Email Delivery Rate
Before opting for any source to send your promotional emails, check out the mail provider rules and also determine the number of emails you can send in one day. This is because some websites restrict the number of emails sent per day. Trying to send more emails than allowed, might lead to the suspension of your email account, thus inviting problems.

Time to Send Emails
People accessing personal and professional email accounts through their workplace, might not access it during their holidays or during vacations. So avoid sending such promotional mails on holidays. As when the person accesses his mail account on the next working day, he would find many other emails piled up and this increases the chances of your email being overlooked by that person. Also avoid email marketing during the vacation months.

Monitoring your Email Deliveries
Ensure that each and every promotional email of yours is sent to the targeted email id properly and without any interruptions. Check the email id for its correctness and try to send it once again. If you are still not able to send it, contact your ISP (Internet Service Provider) and get the problem sorted out.

Template Designing
Designing a proper, understandable template and keeping it constant, also is necessary, so that an email user, identifies your advertisement quickly and views it. Inform about the change of template to the all the users, otherwise you would keep on sending mails and the none of the users would be able to locate them.

Reply Regularly
Some people might find your product interesting and useful. They may ask for some more relevant information. As a responsible marketer, do not forget to reply to such emails. Reply within 24 hours, otherwise the person might lose interest in your product. Technical problems in sending replies might cause a delay. In such cases, ‘Apologize and Reply’ properly to the user.

Feedback Forms
Develop a feedback form in your email, so that you get to understand the expectations of the consumer from the product, from the content etc. This would enable the creation of better content. Do not scratch your head over every single feedback, but make sure to take a stand on the repetitive ones.

You can definitely build a good email marketing strategy by following the tips presented above. So go ahead and get the best deal out of it.