Bliss Sawyer's Marketing Blog

Go beyond their mortgage needs

As much as you don't want to believe it, you are competing against originators that know what they are doing, have excellent rates and want the business as bad as you do.  This is fact.  So if you are marketing in much the same way they are, your offer will not stand out.  Effective marketing requires you to be creative. 

Sometimes, marketing to the one is has greater results than marketing to the masses. What this means is that you look for additional opportunities as you meet potential prospects.  Individualize what you are doing so the client feels special.  Let me give you a few examples....

One originator I know was getting ready to send a mailing to his database.  His original objective was to give a special offer and coupon.  About the time he was developing this, he ran into a past client that owns a central vacuum company and was worried about the slowing down of his business.  The loan officers offered to include a testimonial of his business and add his card to the mailing.  No cost and he added value to his database along with cementing a valuable relationship with the business owner.

Another loan officer was having a conversation with a Realtor talking about success and what it takes to get where you want.  He followed up by giving her a copy of Jack Canfield's Success Principles.   The next day he received a great referral from this agent (something that hadn't happened in a while.) 

You can also send copies of newspaper articles that your clients may find interesting.  If they are golfers, send an article on a new course opening.  When one originator notices his client or their children mentioned in a newspaper article, he laminates a copy and sends it with a note and his card.

These are just a few of the ideas.  Feel free to comment with your success stories.  Listen carefully, if others express a concern or problem, you may have a way to help solve their problem or at the very least, give encouragement and empathy. 

6% Get 60% of the Business

As most of you know, I am working my way through The Success Principles (Jack Canfield) with two sales friends.  I just read a great statistic on sales calls I want to share with you.

Herbert True, a marketing specialist at Notre Dame University, found that

• 44% of all sales people quit Trying after the first call
• 24% quit after the second call
• 14% quit after the third call
• 12% quit trying to sell their prospect after the fourth call

This means that 94% of all salespeople quit after the fourth call.  BUT 60% OF ALL SALES ARE MADE AFTER THE FOURTH CALL!  In our business, 6% of originators are producing 60% of the mortgages.  (The movie Pursuit of Happyness is a great example of this principal.  Go ahead and schedule a field trip to see it soon.)

This is great news for you!  If you can work through the rejection, discouragement and disappointment of not getting the loan, the referral or the appointment you can win at this game.  The majority (94%) of your competition is quiting before they get to that next YES.

For years, I have taught a principal called the Marketing Rule of Five.  Take a look at this article to give yourself some ideas on how to stay in touch after the initial contact with a prospect.  Some loan officers don't even wait for the first no, they drop the ball before hearing the potential clients answer.  Don't let any more prospects slip by you.  Take the time to set up a system that will get you closer and closer to more Yeses!