Marketing Plans For Mortgage Brokers On A BudgetAs a broker, it doesn’t matter how knowledgeable you are about the business if you don’t have the marketing tools necessary to increase your client base. Although annual marketing plans can be complex and pricey, the experts at QLMS have gathered the best strategies for every experience level, so you can make the most of your marketing efforts.
Beginner Marketing Plans (That Are Free!)Despite how expensive marketing can be for small businesses, there are some strong strategies that you can use to get your name out there without having to spend a penny.
To increase your leads, you need to ensure that your business is getting the attention it deserves. Sign up for a free Google My Business account so you can create a Google business website, add accurate, useful information to your business listing on Google and engage with potential clients.
A Google My Business account not only ensures that clients can find information about your business through the search engine, but also that they can locate you on Google Maps.
The most successful brokers are those who’ve established a reputation for being knowledgeable and trustworthy. While much of this reputation is formed through word of mouth, online reviews are becoming increasingly important. That’s why it’s a good idea to ensure that your business is receiving 4- and 5-star reviews on Google – and a lot of them.
Let your clients know that you’d appreciate a review and show them how easy it is to do it. If you receive any negative reviews, make sure you respond to them immediately. Potential clients don’t expect you to be perfect, but they like to see you’re making an effort.
Creating a social media presence is a must in today’s world. By consistently posting on Facebook, Twitter, Instagram and LinkedIn, you can get your name out there and advertise your services for free.
Keep in mind that what you post matters. The best content will relate to our mortgage industry, current market conditions and your process, as well as information about your local area. The right content will demonstrate to your followers that you’re a knowledgeable agent who has much to offer. Visit the Marketing Hub to take advantage of proven social posts that can help you grow your business.
Intermediate Marketing PlansOnce you’ve established an online and social media presence, you can extend your outreach by contacting potential clients directly.
We know your time is valuable, but remember that developing ongoing communication aimed at prospective and existing clients is crucial to growing your business. Instead of spending your days reaching out to potential clients by phone, use email marketing for a more efficient use of your time. “Did you know that 82% of businesses use email marketing? It’s also cost effective with a 4,400% return on investment and $44 for every $1 spent.
After putting together an email list of potential clients, you can choose an email service provider to help you create marketing emails and send them out automatically. While Mailchimp has a free basic service, for just $10 a month you can upgrade to receive access to enhanced email templates, custom branding and online support.
Developing impactful and strategic direct mail to send to potential clients is a classic way to market your business, but it’s essential that you also create a list of true prospects. Visit the Marketing Hub where you can launch a direct mail campaign in five easy steps. You can choose a direct mail piece, customize your mailer with your logo and your address, choose an envelope design, buy a prospect list (discounted for QLMS partners) or upload your own, get a cost estimate, and submit your order. QLMS can even mail your direct mail pieces, saving you time.
Advanced Marketing PlansNow that you’ve gotten the hang of it, maximize your marketing efforts by adding these ideas to the more fundamental options listed above.
Your logo is often the first thing that clients see. So instead of sticking with that tired, old logo, think about creating one that is modern and eye-catching. A well-designed logo can give your business a more polished, professional look – and you can often get one for under $100.
Once you create your new logo, add it to your website, social media platforms, your Google Business Account and your email signature. You can also put your new logo on promotional items. Branded pens, for example, can be purchased for as little as 10 cents each and will help get your name out there.
Hosting educational seminars on different loan options or aspects of the mortgage process is also an effective way to get potential clients through the door. Plus, it can provide you with an opportunity to show off your knowledge and skills.
The cost of hosting a seminar can range immensely, depending on whether you’ll be booking a venue, renting audiovisual equipment and printing handouts or flyers. There are ways to host for free – snack budget aside – but even then, the need to advertise the event can make this strategy more expensive. To fill up those seats, you should send out a few emails and post mailers to promote the event.
Trying to expand your marketing tactics can be a lot easier when you work with a partner like QLMS – even if you’re on a tight budget. Reach out to us if you have any questions. We’re here to help. And check out our Marketing Hub for additional resources on how to grow your business.