From the category archives:

Marketing

Mortgage marketing - You should do this now

by Chad Weber on November 19, 2008

Today I’d like to share a little tip with you that has helped me out a lot. This would fall into the mortgage lead generation category. We’re all busy right? No one would argue that point. But don’t you often find that sometimes you feel like you’re working a LOT, and very little is getting done?

I hate that feeling, so I did something about it. I created a little sheet for myself, Monday - Friday. At the beginning of each week I spent about 30 minutes writing down the most important money making activities I could participate in. These were labeled as PRIORITY 1.

Other activities that still needed to get done were labeled as PRIORITY 2.  As I ran low on time, I’d pull out my sheet and make sure that all the priority 1 tasks were completed. Seems so simple, but having the tasks written down kept me from those forehead slapping moments of “DARN! I can’t believe I forgot….”

You know those moments well don’t you? We all do. So why not give this a shot? Organize your day so that you’re spending most of your time doing the things that get you paid.

CW -

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Mortgage Marketing Teleseminar - Scheduled Today!

by Chad Weber on November 13, 2008

Good morning!

Just a quick reminder that today’s teleseminar (You’re going to love this title) - “Kick Ass Ways to get Realtor Business” is nearly full. Last weeks teleseminar was about 10 shy of our maximum capacity of 300.  We’ve actually soent some time getting the word out for this weeks teleseminar, so we expect it to be filled to capacity. Click here to register for your login

We’re going to cover:

- 3 Reasons why realtors might hate you (Please don’t make these mistakes)

- How to get realtors to want to talk with you (Maybe even pick up the phone and call you first)

- How your Marketing is making your job much more difficult than it needs to be

I’ve also put together a great resource we’ll be giving out to everyone on the call. Hope to see you there!

Here’s that link again

Chad Weber - www.loanofficermarketinglab.com

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The Worst Loan Officer in the World

by Chad Weber on October 15, 2008

The Worst Loan officer in the World

I’ve created an imaginary situation for you to read. This guy is a loan officer/trainer, and this is a list of his preferred methods to market himself. Would you buy into his products/methods? (The answer will quickly become obvious)

He claims to have the solution for loan officers who want to get more business from real estate agents. Who doesn’t want that right? Take a look at his marketing strategies:

Problem: Don’t you hate when your well thought out value statement is shot down into burning flames by a real estate agent with no vision? “But can’t you see the brilliance in my carefully crafted sales message?” you ask in frustration.

To make matters worse the agent usually throws out some sort of smoke-screen objection without really listening to your pitch. Annoying isn’t it? Well fear no more! We have a solution!

Ultra-Awesome-Super-Duper Solution:

Next time you have one of those short-sighted agents on the phone, you can get your message heard loud and clear with this super secret strategy! Ever wondered why your message is not heard by your target agents? It’s because you’re talking far too slow!

That’s right, the next time you have a prospective heavy hitter on the phone I want you to start talking as fast as humanly possible! Giant, run on sentences are the order of the day here folks! The agent won’t know what hit ‘em!

I’m serious, once you hear the ringing stop, and a voice answer on the other line, I want you poised like a race horse at the starting line ready to jabber! Launch into your script at 3 times your normal speed and don’t stop for air. (If you do, they might be able to slip an objection in)

Before you know it, the agent on the other line is helpless to stop you as they listen to your carefully crafted message that is sure to land you an appointment. This particular strategy has other benefits as well. What used to take you 40 – 60 seconds to communicate is now slashed to a mere 8 – 10 seconds!

Think of all the time you’ll save on your prospecting! Plus, when you’re talking at this breakneck pace, chances are you won’t even hear the objection if the agent manages to slip one in. If you don’t hear it, it doesn’t count!

Mind Blowing Reality Altering Strategy #2:

Don’t you just hate it when you spend hard earned dollars on sending pens, notepads, mousepads, staplers, stress toys, coffe mugs, beer can coolers, pencil holders, and whig-whams to your realtor prospects without getting anything in return?

I know I do… I mean come on people. We spend good money on having our names and phone number branded onto these useful office items (Especially whig-whams… I don’t know how I’d get through the day without my whig-whams) and no one seems to care!

I get even more bent out of shape when I stop by their office to see that they’re using the  items I spent money to send them, and yet they still haven’t called me to give me a loan! How ungrateful!

The days of pulling all your hair out in frustration are almost over though. The next big thing in office “brandables” is here! T-SHIRTS! That’s right faithful readers I said T-SHIRTS! Forget wasting money on those useless pens that no one cares about. How can your agents NOT think of you when they wake up in the morning with your sunny, smiling face ready to greet them plastered across their belly!

Some guy who was good at marketing once said that you should keep your name and face “in front of your prospects” as much as possible. Can this solution be any more relevant? Your face is on the front of the shirt! (And your phone number too if you pay us extra)

Think of all the exposure you’re going to get… Every time they look in the mirror they will see you, the super loan officer who needs their loans smiling back at them. (Imagine all the times you look In the mirror throughout the day: brushing teeth, brushing hair, washing face, etc.) I hope your processor is ready to work hard, as you’re sure to get a flood of referrals with this innovative new approach!

PS – “Please specify size and slogan. “The best way to start your day” will serve as default slogan should one not be included with your order

Limited Time “The Competition Is Going To Have Me Shut Down For Revealing This” Strategy

I have to be careful. The competition is probably listening in and is trying to get me shut down for revealing these secrets… I don’t have much time, so let’s hurry!

This is what I like to call my “Mailbox Overload” approach. You’ve stopped by the realtors offices to drop off your stuff before right? What do you see?  Other peoples stuff of course! Well, one day I was out and about making my rounds at local realty shops, and I just plain got mad!

I got mad because I spent 48 bucks to fill up my tank to make these office visits. I got mad because I couldn’t believe other loan officers were arrogant enough to think they can butt in on my territory. I got mad because my mortgage was due, my cell phone shut off, and I needed money now…

But with these yahoo’s trying to clutter up the mailbox of my prescious realtor prospects; my message could be mistaken as “just another loan officer wanting a loan” and get tossed in the trash! Who wants that? “Not me” I said…

So here’s what I did. I went back to my office and made a commitment to beat these jokers at their own game! “You want to play hardball? Let’s play hardball!”

I logged into my computer and opened up Word. Typing furiously I created document after document after document. Mailers, rate sheets, feature sheets, recipes, comic strips and more were all armed, ready, locked, and loaded.

No longer would I have to worry about my message getting lost in the sea of “junk mail” these realtors are getting every single day! I was the loan officer who decided to yell loudest! Sure, the mailing schedule was rigorous.

But it was worth it! 5 pieces of mail every single day…per agent… And it wasn’t just sheets of paper I mailed either! On page 19 of your new marketing guide you’ll read about the time I sent out cookbooks to every agent in the city! Each page was stuffed with a business card so matter what culinary delight the realtor wanted to indulge in for the day, MY CARD was hiding within ready to strike!

(Be careful though. I received a few complaints about cards spilling all over the stove after my first mailout. After that “incident” I discovered the usefulness of clear tape)

When you’re ready to discover the secrets of how to cram an agents mailbox full of stuff each day, then you’re ready for “Mailbox Overload.” (Formerly known as “Project Cubby Stuff”)

——-

Ok guys. Now onto the serious part of today’s message. Yes, as hard to believe as it may be, there are serious messages hidden between the lines of this article. How would you describe the imaginary loan officer (and product pusher) above? Clueless? Mis-directed? I’m not sure if words exist to accurately describe this poor fellow.

But in all seriousness, loan officers all across the U.S. struggle to get business from real estate agents day after day and see very little in return for their efforts. While many attempt to place blame, or label their market as “too difficult” the reality of the situation is that most of these originators are simply not taking the time to truly understand who their target is, and what they really want. (The above being an extreme example of course, but the concepts still apply)

More rate sheets, promises to share leads, stories about how long your company has been in business, carbon copy phone scripts, etc. are not too high up on the “want list” I assure you. Any market that is heavily marketed to will have a knee-jerk reaction to blow the solicitor off.

It’s natural and we all do it. How would you respond to 5 telemarketers per day bugging you about a new cell phone plan? What if this went on for months, or even years? How would you respond to these calls? It would take one heck of a phone call to get your attention, and inspire you to listen to the offer right?

Of course. So we should expect a similar condition to exist within the real estate community since most loan officers all use the same offer, same approach, and same marketing tactics. The lesson of the day here? Put some thought into your approach.

How would you want to be approached if the situation were reversed? How can you be creative, while also respecting the time and space of your target prospects? How can you communicate value without wasting time making empty claims and promises? (Add substance to your message – value)

We’ll provide some examples in a later post. In the meantime, please stay away from T-shirts, fast talkers, and over-filled mailboxes!

CW- www.loanofficermarketinglab.com

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The not about the bailout post…

by Chad Weber on October 1, 2008

Amidst all the news and debating about what could/should/will happen with a bailout, I wanted to post a quick reminder of what marketing tools you should have in your arsenal to keep your pipeline flowing. I was going to title this as a loan officer marketing post, but in reality, whether you are a loan officer, or a real estate agent, these tools need to be attached firmly to your “toolbelt.”

Call Capture -A call capture hotline is a wonderful thing. Rarely will you find such a versatile marketing tool that allows you to capture leads, track performance, and even distribute information in such a flexible manner.

Why it works: Call capture works because of the mindset of the consumer. Any time information is made available 24/7, and (most importantly) without having to talk to a salesperson… Well, there’s a winning combination!

Mistakes that cause failure: Take a quick look around and you’ll find many mistakes that can kill a call capture marketing campaigns right out of the gate. Often I see real estate ads just “giving away the farm” so to speak. Price, address, all the details you could want are right there on the page for the buyer to read. With all the details there, this person has everything needed to make a decision, and there is no reason for them to call.

Marketing is about “dangling the carrot” a bit. Sure, give some useful information, but leave a  bit of mystery  while you’re at it, or hint at something great they can learn by calling in now.

Next, I often see the call capture number posted as just another 800 number… This is a terrible abuse of the call capture line! The primary motivation to call is the ability to collect recorded information without speaking to a live party right? If you leave out the words: “Free Recorded Information 24/7″ then you’re effectively cutting your calls in half or even worse! Ouch! <That ouch came from your pipeline, not me>

Overall, therre are plenty of great things you can with a call capture line:

- Advertise listings

- Market First Time Buyer seminars

- Host teleseminars (Great for marketing to FSBO’s)

- Market special financing options

- Host a 24/7 question hotline

See? With a bit of creativity, there’s plenty of lead generating activities you can partake in. I’m sure you can easily double the size of this list. Just imagine what you can do with a blog, your call capture line, and a blank peice of paper…  (I’m leaving that one to your imagination)

Make it a great one! I know it’s turbulent out there, but it’s critical that you let the news remain just that… The news, not a significant part of your day. It’s easy to waste hours each day watching and reading, and discussing. But at the end of the day when it’s time to pay the bills, which activities do you want to reap the rewards from?

Chad Weber - www.loanofficermarketinglab.com - www.fsboleadportal.com

PS - Next post we’re going to talk about drip email campaigns - Hope you’re ready.

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Can you Resist the Urge?

by Chad Weber on September 16, 2008

It happens to the best of us… We live in the “information age” and true to the term,  every one of us is assaulted with a mind-blowing number of messages, advertisements, and potential distractions each day. Because of this, it’s a relatively simple matter to have your days, weeks, and even months bounce around like a pinball.

It’s almost a tradition at this point for me to record my activities for a week when I see my sales start to slip. More often than not, when sales are down, the number of distractions I’ve allowed to slip into my day have gone up.

There’s always “something else” new to try. Something bigger, better and badder. Resist the urge! If you’ve settled on a marketing plan and it’s beginning to work for you, then stop bouncing around! There are 3 core activities that should dominate your day:

- Prospecting (Follow-up and cold)

- Marketing (Lead generation)

- Sales process (required activity to move the sales process forward)

These 3 acitivities should be responsible for 70% of your time in the office. If this is not currently the case, then ask yourself “why?” What else is more important than your true money making activities? Most likely distractions have slipped in to slowly but surely chip away at your day. Before you know it, the day is nearly over, and you leave the office feeling like very little was accomplished.

So the lesson of today’s post?

Focus your efforts - resist the distractions - close more loans

Sounds like a plan to me!

Chad Weber - www.loanofficermarketinglab.com

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