*Here’s How You Get More Business*
**By Judy Margrett**
***I started in the mortgage business back in 1985. It’s hard to believe. I’ve originated, did sales management, you name it. In that time I’ve seen a lot of changes. Being on the lender side got me thinking. What would help me or my originators get more quality business? The more I thought about it, the more I became convinced that automated loyalty was the solution. A lot of people say you can’t automate marketing, but you can. Here’s how:
****If we take a short trip down memory lane, initially it was all about digitizing your signature, pulling data from the loan origination system and sending out marketing materials every 90 days. Basically it was about replicating your marketing process with software. Things have evolved. If you think about it, the LOS started out as just a more automated 1003, but today the LOS is the system of record and does much, much more.
****The first difference in today’s market vs. the market of 1985 is that you need a Web-based tool that goes beyond just sending out marketing materials. Marketing is about relationships, not transactions. The industry has been transaction based for too long. It’s not about the deal, it’s about the people. The days of just closing any deal because you have a willing investor are long gone. Today it’s about quality, not quantity. And guess what, if you originate quality loans the quantity desired will follow.
****Similarly, marketing itself has also evolved. What do I mean? You can’t expect any one solution or approach to work. As the saying goes: There is no silver bullet. Marketing should be about using tools like social media, e-mail, texting, and, yes, sending out old-fashioned print media, as well.
****Automated programs maximize the retention of current clients and the revival of past clients. These pre-determined sequences of strategically timed marketing communications typically run for up to three years (or more) and can be extended at any time. A well-configured automated program lays the firmest possible foundation for long-term success – not only by generating a steady flow of referrals, repeat sales and cross-sales from a loyal audience, but also by ensuring maximum response to on-demand custom campaigns, thus creating a lasting relationship.
****Statistics show that every client/borrower has at a minimum 15 to 20 referrals. And we as people automatically refer things like restaurants all the time naturally. What does that mean for your business? If you focus on the relationship and have a holistic approach to marketing you can close more business. In my next column we’ll continue this conversation as I give some solid strategies on how you can use this technique to get more business.
Judy Margrett is President of The Turning Point, Inc. The company’s flagship product is MACH3, a mortgage-specific CRM and automated marketing engine. With more than 20 years’ experience in mortgage banking, Judy was an early advocate of technology-based marketing solutions, especially for nurturing key business relationships. Recognizing the demand to maximize resources within business enterprises, she works closely with industry leaders to guide The Turning Point’s development of advanced mortgage-specific solutions. She can be reached via e-mail at email@example.com.