Mortgage Magic

MORTGAGE MAGIC

The Mortgage Marketing Newsletter for Loan Officers that are Serious About Their Business

From: Ameen Kamadia, President of Kamrock Publishing

Dear Friend,

The Marketing Tool No Mortgage Company Uses Properly

Pretty bold claim isn’t it?

What I am about to tell you is not rocket science. But that doesn’t mean that you use this tool properly. In fact most companies, not just in the mortgage business, DO NOT use this tool properly.

Let me tell you what I am talking about:

You can convert more potential clients by talking less and showing more.

Showing more testimonials.

Prospects are 5 times more likely to believe something someone else says about you, than what you say about yourself. So let them know what your satisfied clients say.

Create a testimonial folder or album with pictures and letters of all your past clients. The more the better. This works wonders when a prospect is undecided about working with you. How many clients have you worked with in the past? You should have asked them all for referrals. But how many of them did you ask a testimonial from?

A testimonial is a comment regarding your service.

Example: “I loved working with XYZ Mortgage. They made the process of getting a loan so easy and fun that I want to refinance with them right now, just to do it again.”
Marge Simpson, Springfield

Now imagine, you get a list of all of Marge’s friends and send them a letter. And in the letter you include what Marge said about you.

Can you see how powerful this is? These people get a letter from a mortgage company and their own friend is saying how great they are.

Ask all your clients to write or say something about you and your service so that you can use it in your marketing. Just call them up and ask. There is no shame in it. Every product you see advertised on TV or the radio use testimonials. And almost none of them are unsolicited, meaning the people felt so good about the product they wrote a letter without being asked to.

Testimonials are not that easy to get. You cannot sit around waiting for them. I have asked people how they liked my service many times. They all say it was wonderful, great, etc. But when I ask them to write that down an send it to me so I can use it, guess what happens? NOTHING!

They never send it in.

So what I do is ask them how everything was. If they could describe the experience in one sentence what would it be? And then I ask if I can use that in my marketing? They always say yes.

So I write in up, and mail it to them to sign and return verifying that they said it. This technique works much better.

Then once you get them, use testimonials in all your marketing. Believe me it works.

Just look at all the late night infomercials. They are hard to believe and make extravagant claims, but they sell a lot of product, mainly because of the testimonials. One marketer was explaining about how he increased sales on a product in an infomercial. It was 30 minutes long and had several testimonials. All they did was double the number of testimonials. And it doubled the orders!

If you can, make them visible.

What kind of impression would it make on a couple coming to you to get a loan when they walk into your office and see dozens of pictures on the wall of you and other couples whom you have helped, standing in front of their homes smiling?

They sure wouldn’t ask you if you are new in the business, that’s for certain.

And you can use testimonials to overcome other objections as well. We all get people who think they can get a better rate somewhere else. But what if you showed them a testimonial or two from people who came to you, thought they could get a better rate elsewhere, and then got ripped off and had to come back to you.

Like I said before, nobody uses this tool, and it’s a shame. I hope you start today.

Happy Originating!

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