In order to continually bring in new business, commercial mortgage brokers need to effectively market their services.
While traditional marketing campaigns through print advertisements and mailers can still be very effective, it’s important to take advantage of the opportunities that digital marketing affords brokers. Email marketing is one of the most effective ways to reach borrowers and referral sources directly, and social media allows you to share your message and interact with many prospective clients. Here are the benefits to using these platforms in your marketing strategy:
In terms of the speed and ease of getting your message across, digital marketing is a great asset. All you need to do is work up an email or social media post and send it out. There’s no waiting for prospective borrowers to receive your mailer or hoping your referral sources will see your magazine ad. The exposure of your message is instantaneous.
It’s no secret that print, radio and television advertising are expensive, and it can cost plenty to send out a mailer. We’re not suggesting completely cutting traditional advertising out of your strategy, but digital marketing through email and social media is a great, low-cost way to supplement these ads. Consistent emails and social media posts allow you to stay in front of prospective borrowers and referral sources without breaking the bank.
It’s engaging and interactive.
Email and social media campaigns work best when you are keeping the needs of your borrowers in mind and actively attempt to interact with them. Use email and social media to answer your borrowers’ most common questions and allow them to discuss the lending process with you. This builds a sense of trust between you and potential borrowers and will lead to more business.
If you’re a broker who isn’t using digital marketing to promote your services, you’re ignoring a tool that can boost your credibility as a commercial mortgage broker, as well as increase your business. Email and social media campaigns are simple, low-cost marketing options that allow you to focus on the needs of your borrowers and referral sources and to engage and interact with them. Using this tool will allow you to demonstrate your expertise as a commercial mortgage broker and to build trust with your borrowers and sources. After that, it’s only a matter of time before you begin to see an uptick in applications and start closing more loans.