Is consumer-direct marketing worth the effort?

There are three criteria which any successful lead-generation strategy should fulfil

Consumer-direct marketing - i.e. going out there looking for business – is not exactly in vogue right now. Brokers are far happier to point at referrals and database marketing then admit they look for new customers. But for most brokers, consumer direct marketing remains essential. That’s why mortgage marketing expert Doren Aldana, writing MPA’s Canadian sister CMP, has drawn up some key requirements for a winning marketing strategy, which we’ve expanded on here.

1. Can it generate qualified mortgage leads profitably without having to cold call?

Even ignoring the fact it’s a job no-one wants to do, cold calling can be a remarkable waste of your time. Add to that its unfortunate association with poor business practices and cold-calling is one to avoid. Create a reason to call; an internet form they filled in, or a talk they attended would be some ideas.

2. Can it give me the added advantage of third party endorsement so I can gain instant credibility and position myself as a trusted advisor?

This is of course why brokers love referrals from existing clients. Finding a trusted source who somehow knows both you and a randomly-selected customer may well be easier for brokers in small towns. However there are many ways you can reach out into your community, through charity, sports, and other communal activities. This may be especially profitable if you are part of a niche, expat or foreign-language speaking community.

3. Can it be automated or systematised so it takes very little work once it’s up and running?

Not only will automation save you time, but it’ll help keep your appearance and approach consistent, just as you’d like to keep consistently high business standards. Whether it’s e-newsletters (i.e. Mailchimp) or social media tools that’ll do your tweeting for you (i.e. Hootsuite), it’s important you overcome any fears you have about technology.

Only select a strategy where you can answer a solid YES to all of these criteria.

This article was adapted from one by Doren Aldana in CMP Magazine.