To succeed in the mortgage market, your first step is identifying your niche. Once you’ve decided on the best demographic target for your success, effective communication will take your message from blah to bingo. Here, we’ll cover 5 important guidelines that will make sure your niche listens and engages with you, effectively driving your mortgage business.
In my view, the five keys to effectively communicating with your niche include:
1.) Tailor your materials according to their needs
When it’s time to communicate with your niche, you have to think about what matters to them. If you don’t consider their priorities and challenges, you will definitely miss your target. When you’re writing your email messages, postcard, articles or other marketing materials, think about a few of these examples:
Is your niche first time homebuyers? This niche will likely ignore retirement savings advice, vacation home or reverse mortgage products or construction financing tips. Instead, bring them “preparing for your mortgage loan” checklists, credit tips and down payment savings plans.
Is your niche single women-led families? This niche likely won’t care about lawn care advice or DIY remodeling projects. To become a valued voice for this niche, send them lists of “kids eat free” restaurants in your area, tips for paying down loan principles, and recommendations for ideal family neighborhoods.
You have to focus on solutions to your niche market’s real problems. This is what borrowers are really looking for, so you have to position yourself as a problem solver. If you have solutions that will truly help them, let them know and your message will get notices.
2.) Create a crystal-clear message.
Your niche is extremely busy and they are bombarded with marketing messages every second of every day. That may be an exaggeration, but only a slight one. Marketing is everywhere, and if you want your niche to take notice of you, the message has to be absolutely clear and very simple. Your marketing messages are not only competing with other mortgage lenders, but they are also competing for space in your niche’s brain against all the other advertisements your niche sees every day – whether it’s McDonalds or Beyoncé or American Express. Be clear, concise and to the point.
Graphics can grab attention, but don’t let them overwhelm your marketing to the point where you message isn’t being communicated. Make sure your graphics are relevant to your message and will be noticed by your niche. Simple, clean design should enhance your message, not compete with it.
Again, people are busy. When you do get a few seconds of their attention, don’t squander it with unclear messages or irrelevant graphics.
3.) Deliver something valuable to your niche
When you communicate with your niche, always offer something of value and include a hook that will entice them to contact you. Simply put, offer additional (valuable!) information as an incentive to reach out and start a conversation with you or exchange contact info so you can more target them even more effectively in the future. This extra value “hooks” a prospect, setting the stage for further communication.
Here are a few examples of hooks:
>>Download a free step-by-step loan process guide
>>Download a neighborhood resources guide
>>Download a checklist for getting started buying a home
>>Call us today for access to your free mortgage loan calculator
>>Click here for warning signs of fraud
>>Call me for details
>>Call us for a free readiness assessment
All of these hooks offer something of value to an interested prospect. They will increase not only the attention your pieces get but boost your response rates and position you as the go-to expert for mortgages.
4.) Include a clear and concise call to action
You have to motivate your prospects with a strong “Call to Action”. Calls to Action (CTAs) are often the difference between prospects just eyeballing your content versus prospects that are converting into actual leads. In today’s highly competitive mortgage market it is critical to convert potential borrowers into leads, which convert into actual borrowers.
You can create great content, new websites and professional marketing materials but if all a potential borrower does is read your materials you still have nothing to show for it. Your CTAs must motivate the potential borrower to take action. To get pre-qualified, to start the application process, to speak with a loan officer, because once they take that first step at contact, most borrowers stop shopping around.
So, what is the difference between a CTA that drives leads and action compared to the typical CTA that people just read but don’t act on? There are a number of factors that impact the effectiveness of your CTA. They include:
Wording is critical: Use words that demonstrate an understanding of your prospect’s pain and what motivates them. Put yourself in your prospects shoes. What would you be looking for throughout your home buying process? Ask yourself “What’s in it for me?” The prospect will eventually ask themselves this same question.
Proper design and placement: If you want your CTA to get the attention it deserves, you need to take advantage of basic design principles. To pop, your CTA needs proper white space, colors, shapes and other visual elements. This field has been studied to a science by marketing automation experts, so it’s critical to get their help.
Marketing automation experts know that seemingly small changes in design can have a huge impact on your response rates. They constantly test colors, shapes, sizes and placement to generate the highest returns, so consider a marketing automation platform to avoid losing out because of simple design principles.
Deliver value to your prospect: Provide your prospects with insights, trends and offers that the prospect can’t live without. Put yourself in the their shoes and find out what motivates them to take action. Adding value for your prospect creates a higher need and increases the chance of taking your call to action.
There are a number of articles that provide key insights into the power of CTAs and how to get the most out of them in your marketing materials. In an article by Wendy Marx entitled Calls to Action: “How to Motivate Your Audience”, she lists 10 Guides to Creating Calls to Action that Convert”. Check out the story for some additional tips on creating the perfect CTA https://goo.gl/Zd18pz.
5.) Consider a marketing automation system
There are several turn-key programs available that can suit your niche perfectly. “Set it and forget it” technology has dramatically improved marketing effectiveness and you don’t have to do this alone when there are experts with proven success. Once you’ve done the hard part of identifying your niche, you should lean on marketing automation systems that know how to get attention in your niche. They have ready-made content that’s already been proven effective, and you can consistently stay in touch with your niche with very little effort.
Choosing the right marketing automation system will give you a significant advantage over your competitors. Make sure your system has expertise in your niche market and understands the keys to effectively engaging your ideal audience. Backed with marketing automation, you will quickly make progress towards being the “go-to” mortgage expert for your niche.
Succeed with targeted, clear solutions
Effectively communicating with your ideal niche will bring the leads in that you need to grow your loan pipeline. Consistently deliver the messages they’re interested in, with clear language and hooks that further engage them, and you will become a trusted advisor. When your audience knows that you “get them” and that you provide valuable solutions, choosing a mortgage loan provider and recommending you to their friends will be a simple decision.
About The Author
Brandon Perry is President at The Turning Point. Brandon oversees all operational and administrative activities of TTP. Brandon brings over 16 years of experience in various financial services industries to TTP which enhances the Company’s ability to maintain it’s position as industry leader in providing customers with an advanced marketing solution.