How well is your mortgage merchandising working? Many of the old strategies are less effective than they used to be and some newer strategies are starting to become the best mortgage merchandising value for your merchandising dollar. If your current merchandising efforts are not delivery in good quality leads that actually convert into paying customers then maybe it's time to take a second look at your mortgage merchandising.
The most effective mortgage merchandising strategies, systems and plans are not overly complex or expensive. In fact, the best merchandising practices are simple to implement, cost effective and measurable.
The first and most important part of any mortgage merchandising plan is accurately shaping your prospect before anymatter else. This step is such a simple matter yet many mortgage brokers neglect to spend the time to clearly, entirely and deliberately do this that they wind up disbursal money promoting their business to prospects that will ne'er buy from them.
Sit down and put yourself in the place of your perfect customer. Give them a name, identify their age, gender, income, likely occupation, purpose for doing business with you and the end result they want to get from dealing with your business. Make them into a real person in every detail. Describe them in writing so actually use your description to create your merchandising messages. Write your letters, postcards and ads to it one person. You'll be stunned how powerful this simple proficiency is.
Make sure you have a mechanism in place to measure the results of your merchandising efforts. If you can't measure the response rates, leads generated and loans closed that result from your merchandising you can't effectively manage your business. Measurement is the most important function in the merchandising process. Without effective measure you have no idea what is working and what isn't so you will continue to spend money on ads that don't produce and you will miss opportunities to expand ads that are working well.
Always admit effective copy writing principles all told of your ads. Use a powerful, benefit orientating headline to grab your prospect's attention. Include compelling benefits in the body of your copy and support your benefit promises with obvious facts. Close your mortgage merchandising messages with a strong call to action that tells your prospect exactly what they need to do next to get the benefits you have promised.
These simple mortgage merchandising principles can be applied to nearly any merchandising strategy. If you are consistent and diligent you will develop merchandising that will drive a steady stream of qualified mortgage leads into your business.
