Marketing Yourself as a New Mortgage Professional Requires Experimentation
Starting out as a Mortgage Loan Officer requires finding ways to market your brand to generate new leads. The more leads you can get, the higher chances you’ll have of converting them into clients - even if it takes some time to find what works for you. As an MLO, you need to understand the basics of modern-day marketing and how you can sell your brand to clients. That’s step one.
Once you've completed step one, you’ll want to start implementing new ideas to give you a competitive advantage over the competition. Thinking outside the box can make all the difference in taking your career to the next level.
6 Unique Ways for New Mortgage Loan Officers to Market Themselves
Coming up with new and unique ideas for promoting your business is not always the easiest thing to do. It requires time and you have to be willing to invest money that may not lead to a positive ROI. Despite these minor risks, constant experimentation with different marketing tactics can lead to an overall better result than simply following the status quo.
1. Implement Guerilla Marketing
This advertisement strategy utilizes surprise or unconventional interactions to promote a product or service. The main objective of guerrilla marketing is to create “buzz” and word-of-mouth discussions around a product or service. As an MLO, you’ll want to do something relatively inexpensive and easy to create but also worthy of being shared on social media. Ideas that use the natural and manmade environment around your town in a clever and unique way are the best solution for getting the talking heads going.
2. Create Unusual Partnerships with Local Companies
It's no surprise that local partnerships can benefit your business. These partnerships are an excellent way for you to get referrals and put your name out there. However, finding and creating partnerships that no one has thought of can give you an edge over the competition. You’ll be reaching a new market that no other MLO has reached while attaching yourself to a company that many people respect and could look to when searching for a Mortgage Loan Officer.
3. Hold a Contest
Holding a contest to help market your services may seem a bit corny. However, it’s one of the best ways to create engagement amongst your followers and get your name out there. Monthly or even weekly contests - with a prize worth giving away - will get people off their cyber couches and into your comment sections. This tactic can also be a great way to increase your followers. For example: if you held a contest where you ask them to like your post and tag a friend in the comment section to enter, you could double your following in as little as one promotion.
4. Host Guest Social Posts
Having local politicians, business owners, and well-known mortgage or real estate professionals contribute to your social media channels is an easy way to find a whole new audience in your area. They’ll bring along their social media following and provide you with engaging thought-leadership content that can solidify your brand. They are also a great source for referrals and can use their platform to discuss why they should use you as their MLO. And even better, you can return the favor and contribute to their social media channels as well.
5. Create an Off-Beat Social Media Presence
To some, the mortgage industry can come off as dull. It’s just the nature of the business and something you need to consider every time you market yourself. Achieving success on social media requires you to engage and - dare we say it - entertain your audience, and that can be difficult when trying to stay “professional.” The way around this problem is to create an off-beat social media persona. This persona should have its own social media channel and piggyback off your success as an MLO. If you do try this tactic, make sure to use common sense when posting under this assumed character. You want this channel to be a way to talk about things other than mortgages (or at least how we usually talk about mortgages) but not push away others who feel insulted or offended by the content.
6. Become a Storyteller
Tell your story: what is your day-to-day like? Who are you, and how did you become this way? People love intimacy when it comes to content and, more importantly, bonding with storytellers who they can relate to on a higher level. If you can find a way to tell the story of you, both as an MLO and a person, you can instantly create a connection with these potential clients. This may require writing and producing a video script or working on a weekly long-form blog about the highlights of your week. When it comes to engagement, there is no method more effective than telling a good story.
Starting out as a Mortgage Loan Officer can be difficult but it's not impossible. It will take perseverance and patience to find what works for you and what doesn’t, but we're confident that your hard work will pay off. Once you can establish and tinker with what works, over time, you’ll solidify yourself in the industry as someone who everyone knows. And as an MLO, that is everything you should want and expect from your career.
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