While at Sales Mastery, one of our favorite learning sessions was the High Performance Panel on multi-channel marketing for loan officers. Todd Duncan hosted the panel, and Stephanie Johnston, Jeff Wagner, and Alec Hanson discussed how to use social, video, consumer-centric thinking to differentiate and dominate your local market.
They had so many amazing pieces of advice to share, but there were a few major themes we’d like to summarize for you.
Progress Over Perfection
For many loan officers, getting started with digital marketing tools can be very intimidating. This is especially true when it comes to video marketing. But the High Performance Panel had advice for those struggling to start. When Stephanie Johnston started her journey with video marketing, she made the decision to start recording videos, even if they were terrible.
Because of this, she was able to practice and improve while still producing content. Todd Duncan supported this perspective, saying, “We try to be perfect at whatever it is that we’re doing, when all we really need to do is talk about what makes us unique.”
If you’re thinking of adding videos into your marketing strategy, just start! You’ll get better over time, and you’ll never implement anything if you wait to start until you’re perfect.
Keep It Short
Like most forms of marketing for loan officers, one of the major keys to success in digital marketing is knowing when to stop. Jeff Wagner reminds himself to, “Be bright, be brief, be gone.” This is especially true when it comes to recording video. He continues, “Don’t overstay your welcome. Leave them wanting more.”
Todd Duncan applies the 80/20 rule, saying that you should cut out the 80% that doesn’t communicate well.
Make It Personal
When it comes to marketing to realtors as well as customers, it’s important to be as personal as possible.
Videos for Realtors
Jeff Wagner takes this ultra personal approach: when he’s interested in working with a realtor, he looks at their bio on their website. He finds something personal that they have in common, whether that’s a favorite sports team, what state they grew up in, or the age of their kids. Jeff then records a personalized video for them, and mentions that thing that they have in common. He also says at the end of the video that he will be giving them a call the next day to discuss how they could work together.
This strategy allows Jeff to show potential partners that he is very interested in working with them and has put in some time and effort to prove it.
Videos for Borrowers
In this same way, videos for borrowers can also be highly impactful, especially if they are personalized. For instance, if a borrower’s loan just closed, why not sit down and record a quick, 30-second video congratulating them?
It could be as simple as you saying something like, “Congratulations Smith Family! The loan for your dream home just closed! I am so excited for you and everything this new adventure holds for your beautiful family. Thank you for trusting me to help you through this process–feel free to reach out if you have any questions at all.”
Not only would a video like this be a snap to record, your borrowers will be blown away by how personal and thoughtful you are.
The panel discussed how creativity can be a huge asset to a loan officer’s multi-channel marketing plan. Alec Hanson shared how he sees “a pivot happening in our industry between the local pro and the digital pro. The fascinating opportunity is that you have the chance to be both: the digital local pro.”
This means that you need to find your local niche and then use digital tools to market to it. “Find your uniqueness that tugs at the heartstrings, and surprise people with the unanticipated,” says Alec. Perhaps that means offering free dinners or coffee to locals and advertising the event on social media. Or maybe you can sponsor a local sports team or charity organization.
Don’t Try to Reinvent the Wheel
Yes, creativity in multi-channel marketing is key, however, don’t overthink it. Sometimes something is tried and true for a reason: because it works!
Alec Hanson says that the same strategies that you were trained with to be face-to-face with realtors and customers, are the same strategies you need to implement online. This means that you still need to thoughtfully consider what type of marketing you release.
Marketing in Your “Third Place”
In this same way, sometimes multi-channel marketing has nothing to do with video or social media. For instance, the panel discussed the concept of your “third place.” This is the place you go to that isn’t home or work. For some, this may be the gym, a local bar or restaurant, a church, or even their child’s soccer field. Wherever your “third place” is, do the people there know that you are an exceptional mortgage originator?
If the answer is “No,” or “I’m not sure,” you have work to do! Hand out business cards or branded swag. Share about the most recent big loan you closed, and discuss how you can help the contacts you already have. This can feel inauthentic, but if you have built relationships with people, you know how to actually offer them value, instead of just pushing a sale.
In this digitally noisy culture, multi-channel marketing can feel like a hopeless endeavor. However, with the right mix of a growth-centered mindset and some creative thinking, it has the potential to skyrocket your reach.
In our next Lessons from Sales Mastery, we’ll be discussing Why Authenticity in Business Matters–you don’t want to miss it! Subscribe to Jungo blog updates below.