Rich Loan Officer - Helping Loan Officers Succeed

I’ve seen many loan officers waste their time, money and energy on ineffective marketing campaigns. The ultimate goal of a marketing campaign is to generate immediate sales and/or potential leads. If your marketing campaign is not generating leads or sales, you need to reevaluate your strategies and if the need be, get educated.

Running a successful marketing campaign is a really a rather simple process if you know the three most important elements of every effective campaign.

Element #1: Must be Specific and Targeted.

A good campaign is targeted to a very specific potential customer. Your marketing efforts should not be directed to a broad audience all over the place. If you do not strategize, do not do your research properly and focus who you are selling to and what, your response rate is going to be horrible because you’re not able to connect deep enough with your prospects. Think outside of the box and try to be different than other “loser” marketers. So, for example, instead of merely trying to target “people that need to refinance”, you are going to target “people that need to refinance that are over 55 years of age, who own a second home and are self-employed.” Being specific is powerful because you are able to tailor your marketing piece in a way that best connects with a larger percent of your target group.

Element #2: Must Be Measurable.

Three keys that are the essential building blocks of any marketing campaign – track, track, track. You need to track and measure everything. A good campaign keeps track of all the important details, including response rate, sales conversion rate, number of leads generated, expenses associated with running the campaign, etc. You can’t possibly tell how successful a marketing campaign is without going over the numbers. How much did it cost to run the ad? How much did you pay in postage to send out the 1000 mail pieces? How many emails bounced when you sent out your newsletter? How many people responded? Not only is being measurable going to help you in determining whether or not a campaign is successful, it also guides you in improving your future marketing campaigns. You can make adjustments in your marketing piece and see whether or not it helps or hurts your response rate. You keep what helps your response rate and drop what hurts it.

Element #3: Must Have Strong Call to Action.

A good campaign tells the prospect exactly what you want him or her to do next. Not having a strong call to action can destroy what would have been an awesome campaign. You need to be straight to the point and do not assume anything. Don’t assume the prospect will call your number if they would like your free consultation for mortgage services. You need to tell them directly, “Call me today for a free mortgage consultation for the first time homebuyers!” You’d be absolutely amazed at how just adding that one phrase can totally change the response rate of your campaign. Make sure that every one of your marketing campaigns has a strong call to action.

Keeping these three elements in mind will give you a strong foundation for your future marketing campaigns. It also saves you thousands of dollars in marketing expenses because you will discontinue running campaigns that cost you money. To ensure that you have successful and profitable marketing campaigns, just remember to make sure that each campaign is specific, it is measurable, and that it has a strong call to action. This is critical to you and your campaigns’ success.

Goodluck starting a Profitable Loan Officer Career!

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