Thursday, August 11, 2011

12 Ways to Make Your Mortgage Business More Money

If you want to bring more customers to your business, you have 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 the mail, fax or e-mail (you can call them too). Here are 12 ways to make that invitation special, easy and inexpensive.

1. Hold a private sale - Show appreciation of your best customers by inviting them to take part in a private sale. The sale can take the form of an extra discount, or a chance to get special rate a day before everyone else. Good customers not only appreciate the exclusivity, they take you up on it. Remember, it's all about positioning.

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2. Hold a drawing 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 back to you, drops it into a fishbowl or send it you via fax/email/website. This technique will drive people into your business and helps you expand your mailing list for future promotions. Don't forget to make it easy to enter - you can let customers use their business cards or enter online.

3. D.R.I.P. on your customers and prospects often - Most professional marketers say that any direct contact program takes time to build momentum. That's why you want to contact your database regularly and often (go to our website and request a copy of our D.R.I.P Marketing Report). Your pieces can be fun and involving. A mortgage professional, for instance, can mail picture postcards of a new home every month. The more you contact your database, the more top of mind you become. Statistically, the National Association of Realtors found out that Real Estate agents who contact their database 12 times a year vs. 8 times a year can double their business. Why such a high ROI? You are on top of their mind at the right time. Hmmm. . .why do you think we send out our newsletter so many times during the year?

4. Start a birthday or anniversary club - Imagine you own a mortgage brokerage firm. A customer gets a mortgage from you - about two weeks before their anniversary date, you send two coupons; one for $XXX off a mortgage and one with the same dollars off they can give to a friend (they'll need to sign it - it's a nice touch). What about a staffing company. Let me think. How about sending a special $ off coupon because it's their birthday? Reward, reward, reward. Are there any special days of the year that are more prone for people to buy what you sell? Build a program around these days (but send it out well before the "event" takes place) and invite your customers to sign up.

5. Get behind a local charity - If there is 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. Want an example. See our website link below and click on Sponsored Charities.

6. Send a coupon calendar - Send your database a calendar where each day/month is a coupon. Offer $X off on any purchase of $X amount purchased. You'd be amazed at how many sales a single calendar mailing can produce. Remember, certain times of the year trigger buying events. Stay in tune to changes in your industry.

7. Start a newsletter - Feature new products, ideas for using products that you sell, even upcoming sales/offers. A newsletter can be great for loyalty and business. Existing customers get more involved with your business, and new customers do too. Not only that, but once you develop this tactical tool, people will contact YOU when they are ready.

8. Guest speakers, demonstrations and seminars - Ask an industry expert to help demonstrate something that your business sells. Whether it is an interior decorator to speak at your mortgage office or a Real Estate agent to speak at a mortgage seminar. Put together an event like this and invite everyone on your mailing list. The speaker would be a great joint-venture for you and gives added exposure at very little or no cost to your business.

9. Get an endorsement - Is there someone in your community or industry that is well-known and does business with you? Ask him or her to write a letter endorsing your store or a product you sell. Then send a copy to people on your mailing list with a short note. You would be surprised to find that people will call you with a question or product information request. Order our 10-CD set for an example of this type of technique.

10. Remind customers to buy again - "You're due for a rate reduction or credit check." "It's time to bring in your mortgage for a ___________." "It's time to check your _______________." Customers not only respond to reminders like this, they appreciate them. Again, tie this into a timed specific event like the changing of the seasons. We've create a one-page letter for a client last year and it generated ,000 in sales. Why was it successful? They embraced the MYM Marketing Equation (see previous newsletters for what this is) followed our directions by making a telephone call to the primary contact person.

11. Hold a block party - Get other retailers on your block or commercial strip to join forces for a block party. Bring in rides, games, clowns or other attractions. Make a big sidewalk sale part of the event. Advertise it. And before the big day, mail 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 hold a party - do it at a trade show, at your offices or even rent a place - don't forget to set up your trade show booth (take pictures of the event and send in your email 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 be 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

No matter what -evaluate your results on your tactical marketing campaigns but please, don't forget to use the right strategy in your campaigns. And keep testing until you get the results you want. Then start again.

12 Ways to Make Your Mortgage Business More Money

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