As a loan officer, you have a lot going on in your day-to-day, and marketing your services may be an aspect of your business that gets overlooked. But you have to market your business to grow it.
Sometimes this can result in poor, half-efforted strategies as a last-minute addition to a loan officer’s duties. If it does, you will gain very few new leads and may hurt your existing mortgage business.
To avoid this, you need to invest a bit of time and research into finding the best marketing strategies for your company and implement them. Let’s take a minute to study marketing ideas for loan officers and how to implement some key strategies.
Why is online marketing important for loan officers?
There are several reasons why it’s so important for loan officers to market their services online today. Perhaps the most important is that the internet is one of the easiest, most accessible places to find potential clients. With traditional marketing strategies, companies usually need to advertise by city or region with radio ads, billboards, or other ad forms.
But online, you can reach hundreds of thousands more because the internet is everywhere. The best way you can take advantage of this is by doing the proper research and recommendations.
7 marketing tactics to attract more business
1. Find your niche
- What clients do you want to work with?
- Is your company good at helping first-time buyers or experienced investors?
- Is there a particular geographic location you are more concentrated in?
- Do you specialize in FHA or reverse mortgages?
- What about VA/FHA and refinancing?
Referrals are a great place to start when garnering a stronger presence. These are already warm leads because the individuals you are asking referrals from have already worked with you. They already have a good impression of your company from the excellent services you provided them and from the relationship you’ve established with them.
Here are a few tips on how to ask existing clients for referrals:
- When in doubt, be direct. After the conclusion of a successful loan with a client, you can send them an email thanking them for their business and requesting a referral. If you ask in person, they may forget. An email provides a written reminder.
- Be personal. Make sure you highlight specific successful instances of your working relationship with the client.
- Don’t always wait until the project is over. You can ask for a referral at any point during or after the project. However, make sure that you have completed most of it or already have built a solid relationship with the client.
3. Use your social media platforms effectively.
Social media provides you with an incredible platform to share your business, but you need to make sure you use it effectively.
- Get creative with visual content. People love visually interesting content. The more pictures and unique illustrations you can share, the more engagement you can have with your content.
- Use live videos. Normal Facebook videos can generate a lot of interaction, but live videos can generate 10x more engagement and as many as 6x more engagements.
Remember, social media is highly effective at helping you build relationships and advertise your services. It allows customers and potential customers to interact with you and your company in a relaxed setting while simultaneously allowing you to market your services.
4. Connect and network
5. Email marketing
7. Have a quality database
Effective marketing strategies are vital to the success of any business, and they are especially important to mortgage loan officers. Choosing and implementing the right ones can boost and scale your business. Whether you choose to start with social media, email marketing, blogging, or peer-based tactics, it can help you increase your client pool and get your name out there.
To learn more about effective marketing strategies, check out Good Vibe Squad’s Unfair Advantage, the mortgage marketing system for loan officers that can definitely help you generate quality leads.