Don’t Wait for a Mortgage Crisis to Change Your Business
4 Things To Think About to Proactively Market Your Mortgage Lending Company
When I got into the real estate business about 16 years ago, people were flipping 7-10 houses at a time. They were fat and happy—drunk on prosperity with no proper regulation in place.
Then things got funky. The hangover set in. Mortgage loans started tightening up. And then everything came crashing down: countless foreclosures, bankruptcies, mortgage brokers arriving at their offices, only to find chains on the company’s front door.
As I look around at the market today, I’m thinking, here we are again: enjoying the fruits of a low-rate market and willfully disregarding the fact that these rates will not last forever. But this isn’t our first rodeo.
While this year hasn’t exactly lived up to its promise as the year of vision, hindsight is 20/20, and we can learn a lot from the lessons (read: mistakes) of our past. The companies that succeed are the ones that think ahead—marketing proactively rather than scrambling to drum up business when it’s already too late.
Now is the time to tighten up your marketing plan. Here’s how to get started.
Identify the skill sets you’ll need.
Assess your staffing. You may have been operating with a skeleton crew, which doesn’t necessarily present a problem if your marketing efforts are limited. But if loans dried up tomorrow, who would you need on your staff to strengthen your team? This might be a full-time employee or a third-party firm like mine that can fill the gaps.
Map out your strategy.
Ask yourself, who is your target audience, and how will you reach them? Do you want to talk to buyers or realtors? Are you running a digital campaign or boots-on-the-ground guerilla marketing? Are you in need of a CRM to improve how to track and manage outreach? Or does your brand need a refresh?
Define your budget.
You know that whole “you have to spend money to make money” notion? It’s true. Figure out how much you’re willing to spend, and then commit to a plan.
Invest in training.
Your sales staff may need to up their game by stepping up their hunting and gathering skills.
For instance, consider how your marketing team or a third-party firm might help by strengthening the company’s social media presence or better leveraging video to bring the company’s values to life. Or perhaps your sales staff needs additional marketing training or support in the ongoing transition to a remote work culture.
Not sure where to start? At the Client Cube, we can help with all of this—from traditional marketing and ad agency services, such as design, writing, branding, and digital campaigns, to technology implementation, SEO, web development, videography, staffing, and sales training. We tailor our services to meet your needs. We start by identifying pain points (in some cases, ones you didn’t even know you had), then develop a proposal and plan of attack.
In short, we are here to plug in where there’s a need, and get you to your end goal. Interested in learning how we can work together? Let’s talk.