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.
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.
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.
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.