Best Marketing for a Mortgage Company?

GovAuctionGuy39 · Joined: 10 Aug 2009 Posts: 21

I would like to find out the best way to advertise any mortgage company any great ideas out there?

dbrennan · Joined: 11 Aug 2009 Posts: 1 Location: Lehigh Valley PA

Hey GovAuctionGuy39,

I hope all is well.

Your question can be asked of any industry looking to get qualified leads / customers etc etc.

We advertise in numerous mediums from the traditional phone book's, local newspapers and online Pay Per Click (PPC).

What works best? All have their strengths and weaknesses you need to manage each method and make adjustments along the way.

Building relationships w/ realtors is huge but if you are like me and just getting into the mortgage industry, it's not easy, especially now (Aug 2009) as many realtors have struggled and the last thing they want is someone that has nothing of value to them.
I'd argue that we need each other!

Participating in forums like this is another of my goals as is getting more involved in the social media outlets, Facebook, Twitter & YouTube.

We recently purchased an outdoor sign board advertising the $8,000 Tax Credit for passersby.

We have done press releases with new staff members and will be moving to a new office location and plan to do more.

Some of the above models obviously have costs associated w/ them but others are FREE, that's a good thing.

If I missed anything, I'll be sure to add it.

Oh and don't forget email marketing. The owner has a list of previous clients and realtors that he sends to on occasion, that's free as well.

--Dennis
ps, I hope I did not bore anyone, this is my first post on this forum...

JohnF · Joined: 05 Oct 2009 Posts: 6

Advertising depends on your budget and what you would like to do and who you would like to target. You can find a lead source but majority of them will provide web leads which although they may claim they are exclusive they unfortunately are not. We web is a good place to start, but with high competition you would really have to put a good chunk of money down to compete. Call centers can work but they are hit or miss.

kenl314 · Joined: 21 Oct 2009 Posts: 4

Hello- This is the age-old question.

I agree with the posts below. For starting out, press releases are decent as they have no cost.

I also go to Real Estate Investor clubs/ groups meetings sometimes and they are all looking for properties (they can be tough to finance though these days!). But at least it gets your name out a bit.

I've heard direct mailers are generally a good ROI, still. But, costs some $$ of course.

My small company has developed a loan product that can differentiate a mortgage company or an LO, but it is not officially on the market yet, so no help right this minute on that.

Good luck with things,

Ken L.

darryl · Joined: 25 May 2009 Posts: 7

I think uccessful advertising campaigns take repeated touches to be highly effective. Try the classifieds homes for sale section of your local newspaper, and see if there are any of those thick magazines with homes for sale in your area. Advertising in those is targeted at people you want to talk to - home buyers - and is usually inexpensive. For refi business, try the main news section of your local paper, as well as radio.

Anaeneina · Joined: 29 May 2010 Posts: 5 Location: Italy

Example Marketing Idea:

Wear a pin advertising your company upside down. When people tell you about it, it opens the door for you to talk about your business.

Intutivemind · Joined: 18 Jun 2010 Posts: 3

Dear GovAuctionGuy39,
First of all, you will need to know the product in which you are planning for marketing. It is very important that you should use all resources to collect information about your product. Like mortgage marketing, you will need to have complete know how about all the products and types related to Mortgage. This will help you in opening many doors for you.
Further, there are many mediums as discussed earlier by dbrennan. I do agree with all suggests that Dbrennan made. But he missed to define the amount of cost associated with these tools like billboard etc. Remember, if you spend $5000 that never gives your surety that new clients will knock at your door. Clear and wise medium of advertising is the right click. I hope, my comment have added a little more on this topic.

savana · Joined: 22 Dec 2010 Posts: 15 Location: United States

Hi,

I am a newbie to this forum and all the above posts are showing different ways of marketing and advertising. I believe in making the campaigns because it is always suitable for any real estate industry. I mean people are always looking for different loan modification and mortgage programs and campaigns will definitely work on this.

paydayloan · Joined: 06 Jan 2011 Posts: 9

Hi,

I think online advertising is the best way to advertise your company. Today many of the companies doing this. This is very simple and interesting. Only you have to follow some SEO steps for doing this.

Thanks

savana · Joined: 22 Dec 2010 Posts: 15 Location: United States

Advertising can be done in many ways like, choosing effective classified sites and providing news about the company through Press release can be much better option according to me as I personally feel this!

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