How to Generate Mortgage Business
Most mortgage loan professionals are still using the traditional postcard mailers, cold calling and in some cases door-to-door sales. Although these tools can produce business, they require large financial investments and are very time consuming. Email marketing is another good way to generate mortgage business. The goal is to generate new business or referrals from every person you come into contact with. Your existing satisfied customers are the best source for generating new business using email, without having to invest huge amounts of money.
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Instructions
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Create your database Compile the email addresses of your closed clients and any potential client that you know. A closed client is a customer that you have completed a loan transaction for in the past. Collect emails of potential clients from emails that others have sent to you.
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Form a new contact group in your email program. Save the group as “closed clients,” and repeat this step for the “potential clients.” Do the same with any additional groups that you’ll be marketing to, such as contacts that you have given a loan estimate to and with referrals from past clients, family members and friends.
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Input the email addresses into the relevant groups.
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Create subject titles and email messages that are relevant to the clients within each group, and save them in your draft folder. Each message should be short and written in the email body. Do not write a letter or attach a file that will need to be opened.
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Send one message per week to each of the separate groups, using the predrafted email messages. Plan the marketing campaign to cover a four- to six-week period. Always send the weekly message on the same day as the previous message.
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Track your progress daily to make adjustments and corrections to wrong email addresses.
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Tips & Warnings
Remove a contact from the group after that person replies or requests more information.
Respond immediately to requests or contacts interested in your services.
Be creative with your message, and speak to current events like interest rates. Lead up to you asking for business.
Add your name, business name and address to all emails messages.
Consider building a personal website where you can direct clients for more information.
Include an “opt-out” link to your emails.
Never let your contacts be made public.
References
Resources
- Photo Credit Email Concept image by wayne ruston from Fotolia.com laptop with database record on 15.4" wide screen image by .shock from Fotolia.com
