12 ways to make your mortgage business more profitable

If you want to attract more customers to your business, you need to give them a reason(s) to buy from you. And there is no better way to provide that reason than a personal invitation through mail, fax or e-mail (you can also call them). Here are 12 ways to make that invitation special, easy, and affordable.

1. Host a Private Sale – Show appreciation for your best customers by inviting them to participate in a private sale. The sale can take the form of an additional discount or the chance to get a special rate one day before everyone else. Good clients not only appreciate exclusivity, they accept it. Remember, it’s about positioning.

2. Hold a giveaway to win something: “Win a free ______.” Fill in the blank with anything you sell. For a chance to win, a customer fills out a form and mails it to you, drops it in a fish tank, or sends it to you via fax, email, or website. This technique will attract people to your business and help you expand your mailing list for future promotions. Don’t forget to make check-in easy: You can let customers use their business cards or check in online.

3. DRIP on your customers and prospects often: Most marketers say that any direct contact program takes time to build momentum. That’s why you want to communicate with your database regularly and frequently (visit our website and request a copy of our DRIP Marketing Report). Your pieces can be fun and attractive. A mortgage professional, for example, might send out picture postcards of a new home every month. The more you communicate with your database, the more important it becomes. Statistically, the National Association of Realtors found that realtors who contact their database 12 times a year vs. 8 times a year you can double your business. Why such a high ROI? You are at the top of your mind at the right time. Hmm. . .Why do you think we send our newsletter so many times during the year?

4. Start a birthday or anniversary club: Imagine you own a mortgage brokerage firm. A client takes out a mortgage from you: About two weeks before your anniversary date, you send two coupons; one for $XXX off a mortgage and one for the same dollars off they can give to a friend (they’ll have to sign it, that’s a nice touch). What about a staffing company. Let me think. How about sending a special discount coupon because it’s your birthday? Reward, reward, reward. Is there a special day of the year that people are more likely to buy what you sell? Create a schedule for these days (but send it out well before the “event” takes place) and invite your customers to sign up.

5. Support a local charity – Is there an organization or cause in your community or industry that is popular with your target audience? If so, send a letter announcing that a percentage of all sales on a certain date will be donated to that cause. You want an example. See our website link below and click on Sponsored Charities.

6. Submit a coupon calendar: Send your database a calendar where each day/month is a coupon. Offer $X discount on any purchase of $X amount purchased. You’ll be amazed at how many sales a single calendar mailing can produce. Remember, certain times of the year trigger shopping events. Stay in tune with changes in your industry.

7. Start a newsletter – feature new products, ideas for using products you sell, even upcoming sales/offers. A newsletter can be great for loyalty and business. Existing customers get more involved with your business and so do new customers. Not only that, but once you develop this tactical tool, people will reach out to YOU ​​when they’re ready.

8. Guest Speakers, Demonstrations and Seminars – Ask an industry expert to help you demonstrate something your business sells. Whether it’s an interior decorator to speak at your mortgage office or a real estate agent to speak at a mortgage seminar. Host an event like this and invite everyone on your mailing list. The speaker would be a great joint venture for you and provide additional exposure at little or no cost to your business.

9. Get Endorsed – Is there someone in your community or industry that you know and do business with? Ask him to write a letter endorsing your store or a product you sell. Then send a copy to the people on your mailing list with a short note. You’d be surprised to find that people will call you with a question or request for product information. Order our 10-CD set to see an example of this type of technique.

10. Remind customers to shop again: “A rate reduction or credit check is due.” “It’s time to bring your mortgage for a ___________.” “It’s time to check your _______________.” Customers not only respond to reminders like this, they appreciate them. Again, link this to a specific timed event like the change of seasons. We created a one page letter for a client last year and it generated $90,000 in sales. Why was it successful? They adopted the MYM Marketing Equation (see previous newsletters to find out what it is) followed our instructions by making a phone call to the main contact person.

11. Host a Block Party: Get other retailers on your block or strip to join forces for a block party. Bring rides, games, clowns, or other attractions. Make a big sale on the sidewalk as part of the event. Announce it. And before the big day, send special offers to the best customers on your mailing lists. Oh, that’s right, you’re not a “retail” business, so this probably won’t work for you. Wrong. You can still host a party: have it at a trade show, in your offices, or even rent a venue; don’t forget to set up your trade show booth (take pictures of the event and email your newsletter).

12. Start a referral program with your customers: Ask your customers to provide you with the names and addresses of friends and business colleagues who they think would make good customers. Then send these referrals a promotional offer. If a referral becomes a customer, reward the original customer with a gift. Visit our website for your FREE reports at http://www.DoTheDrip.com

Whatever happens, evaluate your results in your tactical marketing campaigns, but please do not forget to use the correct strategy in your campaigns. And keep testing until you get the results you want. Then start over.