Few things are more valuable within the realm of marketing than research, and the insights it can give you as a mortgage lender.
Regardless f whether or not the results of a market survey say good or bad things about the way mortgage lenders are handling their marketing and its materials, said results will also provide you with opportunities for improvement, and will shed light on the ways in which marketing needs to adapt and evolve to fit its intended market.
A recent Harris Interactive poll of 2,383 U.S. adults found that:
- 2/3rds of poll respondents found the ways in which mortgage lenders market themselves to be “not credible”
- Mortgage providers, as a whole, only have a measly 27% approval rating
- Non-traditional, and once a la mode mortgage options are losing favor among their intended markets
As a mortgage lender, then, how should this information affect the ways in which you plan to market your mortgage products?
Clearly, you can’t just let this information have no effect on the ways you choose to approach your marketing.
In fact, ignoring this kind of market information is just about the worst thing you can do, even if you read these results with the caveat that you’re ‘different from all the others.’ Whether or not that is true, that won’t be how you appear to your market.
In order to tackle these perceptions in relation to you and your services, you need to understand where it is that your prospective clientele are coming from.
In other words, which per-conceived ideas are they bringing when confronted with your marketing efforts?
One thing your audience is likely to be bringing to the table is a healthy dose of cynicism and reluctance to believe what you’re trying to communicate, so establishing your credibility and sincerity as a mortgage lender becomes an absolute priority.
Studies show that most prospective mortgage clients consider themselves well-versed with the traditional fixed-rate mortgage, so if this is an explicit product in your mortgage catalog, then you need to be as informative as possible.
Balloon mortgages and interest-only loans represent the least popular mortgage prospects for the borrowing market, so making special note of them in your marketing materials is a guaranteed way to lose your reader’s attention.
Spending that bit more time subdividing, identifying and targeting individual segments of your potential market with tailored marketing materials will pay dividends in the long run.
Get to know your audience and recognize that they aren’t all the same in your marketing materials.
To learn more about how you can use a mortgage marketing software to adjust your mortgage marketing strategy, contact Focus IT. We have Pulse which is a that allows you to easily integrate and manage a mortgage marketing campaign.
Pulse integrates with Calyx PointCentral as well as Microsoft Outlook and Exchange, so you can access everything you need in one central location.
Get in touch with us today at https://www.focusitinc.com/contact-sales to learn more about how you can use Pulse Mortgage Marketing Software to improve or begin an email marketing campaign.
Or, you can join us immediately for a weekly demo to give you a full view of marketing, automated sales and lead management with a user-friendly interface, which ensures faster user adaptation and faster results!