Loan Officers? WHAT MARKETING WORKS?
What is the most successful source of marketing to get inbound calls? Newspaper ads, direct marketing, lead lists, email campaigns...What has worked and why? Marketing professionals I would love to hear from you as well
- Anonymous1 decade agoFavorite Answer
I have had a successful mortgage branch for 5 years now. I am young and money motivated so i went out and learned everything i could for marketing.
Ultimately - referrals will be the best for you.
Try building relationships with realtors. They will be your next best friend and if you treat them right, they will send you loans. If you can get 10 realtors who all send you just 1-2 loans a month, that alone is pretty good.
Newspaper can get expensive and you usually have other competition in there. If you can find some smaller more localized papers and you are one of the only adds, it works well.
You can get lists from title companies. They will supply you with as many leads as you want. These leads are people who got into arm loans 2 and 3 years ago close to the date you requested them. So if you are good on the phone you can call more leads then you can handle and see if they want to lock back into a loan that will not adjust. Make sure your title company scrubs the numbers on the Do Not Call List.
Email campaigns are hard with all the laws no days. You have to be very carefull. These take a lot of time and did not pay off. But i would recommend getting a newsletter system in place. Keep in contact with all your clients you have done a loan for, and also a newsletter each month for those you had talked to but couldnt do a loan for. This will keep your name in front of them for any referrals they may have, or a new loan in the future they may want.
There are companies who offer Inbound telemarketing calls. They charge about 75-100+ per inbound. But they are customers in your specified areas who are inquiring about needing a loan. Usually they require a min of 15 leads purchased. These worked out decent as my loan officers funded on avg about 22% last month from this lead source. Go to google or yahoo and type in "live transfer mortgage leads"
Business Cards.. pass them out! ALWAYS.. to everyone you meet. You never know. My office has 12 loan officers. I make it manditory that they pass out at least 100 cards per month. Either to their waiter/waitress, friend, postal carrier, ups man, car repair guy, insurance agent, whoever they come into contact with. On average this generates 1-3 loans extra a month for each loan officer.
Networking groups - Join a networking group or network at your local chamber of commerce events. Great way to meet other professionals. You refer business to them, it comes back to you.
Check out goagenthelper.com for some closing packet ideas and referral ideas.