There is certainly no shortage of ways you can market yourself or to get in front of opportunities. Technology and social media can put us in front of potentially unlimited impressions to people who may need our product or service. Clearly, I want each of you to have a presence on social media and to be fluent in communicating in all forms available. The issue I see is that far too many originators are trying to do all of their marketing and connecting through email and social media and not enough time connecting live and in person with their clients, prospects, and referral partners!
Right now the gap between personal and electronic communication widens every day. Many originators think that email campaigns and autoresponders are the best way to keep connected to their people. With the market opening up to a huge opportunity in refinance business, many originators and their companies, are blasting emails to databases in rapid succession. While these emails are certainly generating a response, I have found that those emails actually cost you more opportunities than they generate! Why do I believe this? Simply looking at some data from my own clients provide some major insight. Email blasts do generate activity, but not all of that activity gets directed back to the person, or entity, that it was sent by. In fact, when we call our clients on the phone directly to talk about refinancing, we see a better than 7 to 1 return over the number of opportunities secured by an email blast!
Clearly calling takes longer. Yes, we all know that many of those emails don’t get opened or reacted in the same way. But one of the more alarming things I have seen is that in some cases, people who opened an email about refinancing often went online to check rates, only to be contacted by other salespersons who would quickly promise the world to take the deal. How would you feel if you sent out an email that caused your client to apply for a loan with someone else? You see, when you take the person out of the process, the customer only has the rate as a commodity to look at for a sole point of value! They might never see that changing term or program is actually better for them. They may never have a conversation about the benefits of selling their home and moving! They might not actually see all the options to make an informed choice. They might just end up with a lower payment and not the best possible outcome over the long term!
A declining rate market is great for our business. It also can work wonders for the entire economy as a whole. However, the speed of an email may not inspire or connect with your target as well as you might think! I believe the investment of your time to make the personal phone calls to actually talk to your customers will not only improve the number of transactions you close, but it will help that client know that they explore all of their options and made an informed choice that worked best for them!
The best thing you can market is your expertise and experience. The most effective way to do that is to call and actually speak person to person with your client. Yes, it takes a little longer to do it that way. But in the long run, you will build better and stronger relationships and close more loans with higher referral rates as well!
Also, as I spoke of last week, I have a big announcement to make. For the better part of the past year we have been working on a redesign of our website. We have taken all the suggestions you have made and tried to put items that work together in sections with each other. The “public” part of the website allows everyone to see and get a simple “taste” of the content and the strategies available. To “ACCESS” all the lessons, strategies, and supporting materials, you will either have to be a coaching client, or subscribe to the “Access Program”. If you would like to try “ACCESS” for just $39 a month, use the following link https://www.imtcoaching.com/offers/2CNVRmPF/checkout with the coupon code AUGUST and you will save $20 per month! There is no long term commitment. You can cancel at any time you like just by sending us an email and we will cancel your membership.
So please stop by www.IMTcoaching.com and take a look. We are very proud of the new site and we would love your feedback!
Questions or comments: Mike@IMTcoaching.com