YOU CAN'T SELL ENOUGH LOANS ONE AT A TIME!
by: Linda Brakeall
What kind of group marketing approach do you have in place? There are several basic approaches: Direct mail, advertising, speaking to groups, doing seminars, keeping in frequent contact with previous customers and working them for referrals.
Each one has pros and cons. Direct mail and advertising require a little cash, but they do reach a specific number of people in a reasonable time. The trick to either one is regularity. You cannot mail out or advertise once and expect any results. (Sometimes it happens - and that's the day you should play the lottery!)
All marketing studies tell us that you have to make a minimum of 27 contacts to really connect with the customer's brain. That's why McDonald's is on TV 76 zillion times a day. If telling people a message, any message, only once was effective, McDonald's would save its McMoney.
The rule for direct mail and advertising is: If your budget will not permit you to sign an intensive year long contract, you may as well save your money and pursue another avenue.
The other ideas about speaking to groups, doing seminars for buyers and sellers, and keeping in contact with previous customers is more labor intensive but will conserve your cash. And often has better short and long term results.
Making loans is a
people business. They need to know you and trust you in order to do business
with you. If you speak at local civic and social meetings about trends
in financing, mortgages, appreciation, or real estate you will position
yourself as an expert. If you conduct seminars for buyers and sellers
(who usually also buy . . .) you get to speak up close and personal with
people who are planning to use your services soon. What could be better?
If you keep in contact with customers who already know you and trust you,
they will refer you to their friends. It has to be regular. It has to
be systematic. It has to pay off.
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