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Article Title: The 3 Steps To Marketing Like The Big Dogs From
Home As An Independent Loan Officer
Author: Joy Gendusa
Word Count: 1820
Article URL: http://www.isnare.com/?aid=48438&ca=Marketing
Format: 64cpl
Author's Email Address: karla_jo[at]postcardmania.com (replace
[at] with @)
Easy Publish Tool: http://www.isnare.com/html.php?aid=48438
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You�re an independent loan officer that works from home, but
you still want to sell like you�re backed up by the Big Dogs.
That is not so hard when you know how to market. Sure, if you
could market with XYZ�s big-time budget, then you could get
more leads and close more loans. But, what if you don�t have
that kind of marketing budget? There is still a way to get
those leads; you just have to get smart about it - like the Big
Dogs.
It all comes down to RESEARCH. The hardest part is figuring out
what to sell to whom. A one-man band with 30 different products
to sell needs to know HOW to promote, WHAT to promote and WHO
to promote to.
1) Research which product you need to market.
When you start researching, you cannot go off of assumptions
because you know what they say about
a-s-s-u-m-e (makes an ass out of �u� and �me�). What you have
to do is go through your client list and tabulate what product
you sell the most of. First calculate what product you sell
the most of and then calculate what product you make the most
money on. Those are the two products that you start with.
However, if what you sell the most of is what you make the most
amount of money on, then that is pretty fantastic � but not
likely. You�ll probably find two products. Usually, you really
have to do a sincere survey. You are looking to market the
product that makes you the most income the quickest FIRST.
�Thinking� it is a particular product rather than �doing� an
empirical study is not marketing smart - because you may be
wrong - believe it or not. When you are working from home, you
need to be twice as smart when it comes to your marketing.
How you do it?
Make a spreadsheet and go through all of your past closes over
the last few years. List them out: Product A, B, C, D � get
every close you made over the past few years and mark down what
the product was and what you earned off of it.
Example:
Product A earned 1%
Product B earned $900
Product C earned �%
Product D earned 1500.00
You will be able to �see� exactly what product you are selling
the most of and what product you are making the most money on.
Then you can start marketing to your bread and butter first.
Once you have consistently marketed that product for a while,
then you can supplement your marketing strategy and market the
other product, the one paying the biggest commission � while
keeping the campaign continuing on your bread and butter.
Marketing smart means marketing first what you sell the most
of, the fastest. That is an important datum � it sums it all
up.
Now that you know which product to start with, you have to know
who is going to buy it, which comes to our next step.
2) Research to find who the audience is that you are going to
sell to.
Not all audiences are the same. Take for example the Will and
Grace Show. Not everyone would want to watch that. Just like
there is a totally different target audience for The Lawrence
Welk Show. (If you never heard of these, then more than likely
you aren�t their audience.) Case in point: you have to
determine who your audience is, which is called a �market�. A
�market� is a type of audience, a type of user. So, figure out
everything you can about that particular market that buys your
bread-and-butter product. And you already have access to all
their data � age ranges, credit scores, credit rating, income,
etc. Tip: do another spread sheet.
Once you have the demographics of the people that buy your
�easiest-to-sell� product, then get a list of that particular
type of audience. You can go to a list company that you feel
good about and have gotten recommendations for, and buy a list
of people within that criteria.
The reason you want to do such a thorough job of finding out
who you are selling to is that 40% of your marketing campaign�s
success (success meaning whether or not you get a good response)
is dependent on your list. Besides, it is your list and the
postage that are going to be the most expensive parts of your
direct mail campaign. I cannot stress enough the importance of
a good list � it makes all the difference between marketing
smart and�well, if you are not targeting your public, you
aren�t really marketing at all.
After you research out who your target market is,
3) Figure out what to say to them.
The thing about people in a certain profession or a certain
industry is that they have been in their industry for so long
and know so much about their profession that they start to
think that people know as much as they do � or should know as
much as they do. Most people are not educated in your
particular product. Most people do not know there are all types
of rates and products that are available to them depending on
their credit, income, etc. And these people are not necessarily
illiterate hicks from Country-Bumpkinville! They are educated
people, but they have lots of other things they deal with
everyday that take up all their time, e.g., picking up the kids
from school, dealing with the boss at work, etc. Not everyone is
watching Alan Greenspan every day!
Another thing you need to know, before you decide what it is
you need to say in your message, is that it is very hard to
educate people � they don�t want to be educated necessarily.
You need to find out what the �button� is that people will
respond to, that will get them to come to you for loans or
refinancing or what-have-you. A �button� is a word, phrase,
picture, etc. that elicits emotional response. People may not
understand �No PMI�, but they understand �fast cash�. What is
it about them that would make your message mean something?
It is all analysis. To figure out what you want to say, you
have to figure out what people will respond to. You don�t
really want to say, �I�m the best broker ever that can match up
any product with any customer!� although that may seem like a
good idea. First of all, a lot of people don�t even know what a
mortgage broker does!! So don�t say that. You have to market
differently to different types of people.
People have different agreements and fixed ideas and
experiences. For example: Someone that has bought several homes
has more experience on that line than someone who has never
bought a home. If you found the product you sold the most of
was to first-time home buyers , then you know they have little
or no experience with mortgages. But everybody wants to own
their own home; so what you want to say to them is �You CAN own
your own home � it�s EASY!�, or something of the sort. Look at
it from a different angle. One person, who is really into boats
and is reading Nova Online � Speed Machines, would understand a
jet hydroplane with a lightweight composite hull and a jet
engine that could deliver 5,500 horsepower with the afterburner
lit. But another guy, who has never owned a boat before, may
just think it is just another fast boat and all he�s looking to
buy is a fast boat - without all the engineering details. You
have to get your message across to your target market that is
going to communicate to them. In other words, they are going to
understand it and RESPOND.
Working out of your home, you don�t have access to the Big
Mortgage Bank�s Marketing Department. When you don�t have a
marketing expert telling you what to do, you may still need
that expert�s help. So here again, do research to get that help
or assistance. Go on the internet to find the biggest lenders
web sites. Get on their mailing list. Look at their marketing
materials so you can see what they send you � not �you� as
broker, but �you� as a potential customer. Not only are you
researching how you are making the most money, but also
research how the Big Dogs are bringing in the clients. What are
the materials they are sending to the end-user? There is no need
to reinvent the wheel. Find out what is working and do that. A
lot of those Big Dogs are doing postcards.
Here�s your assignment:
Now that you know, 1) which product you sell the most of, 2)
which product you make the most money on and 3) what the
successful big lenders are doing; start by mailing postcards
(repetitively) to the first audience that buys �Product (1)�.
And you will start generating the kind of leads that buy the
product that sells the easiest. Then, while still marketing
�Product (1)�, start mailing postcards (repetitively) for
�Product (2)� and you will start getting leads that will buy
the product that will pay you the highest commission. You will
first get leads from the most-volume product and then while you
are still getting those and closing them fast, you will get
leads that pay the highest commission. Make sense?
To recap:
� Research
� Pick your marketing media � I recommend postcards. You will
get a lot of �bang for your buck� with that type of media.
� Find a resource for mailing lists.
� Get inside that public�s mind and BE them and figure out what
they would want to know. This, by the way, is a trade secret. If
you can get inside your public�s head and look at it from their
viewpoint, then you can be a genius in your message. It is
actually BEING them and looking at things from their viewpoint.
Take Joe Blow who has never refinanced. Someone with average
credit would probably be interested in a low cost equity line
of credit so he can get money out of his house. �Getting money�
communicates to people.
� Send out postcards repeatedly getting a specific message
across to your target audience that communicates their button.
If you want to sell like the Big Dogs, then learn some
marketing; get yourself educated. Actually, this will make you
stand out instead of running with the pack of inexperienced,
uneducated marketers (you�re competition). Good Luck!
About The Author: Joy Gendusa founded PostcardMania in 1998,
her only assets a computer and a phone. By 2005 the company did
over $12 million in sales, employed over 100 people and made
Inc. Magazine�s prestigious Inc 500 List as the one of the 500
fastest growing companies in the nation. Visit
http://www.postcardmania.com for more free marketing advice.
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