What is one marketing strategy that a loan officer could execute to drive new leads? To help loan officers attract fresh opportunities, we asked marketing professionals and business leaders this question for their insights. From guest posting to creating referral campaigns, there are several strategies that loan officers can execute to capture more business.
Here are seven loan officer marketing strategies to drive new leads:
- Use Targeted Facebook Ads
- Build Solid Business Relationships
- Send Out Mailers
- Develop Referral Campaigns
- Offer Teaser Rates
- Leverage Local Facebook Groups
- Guest Post for Real Estate Agents
Use Targeted Facebook Ads
Targeted advertising on Facebook is a surefire way to drive new leads. Consider customizing your marketing campaign on Facebook to hone in on young renters who may soon be in the market for a new home.
Getting your ad to populate in their feed will result in increased engagement and conversions. Be sure to create a Facebook ad designed for your target audience that highlights current rates and urges potential homebuyers to get in touch, and you will see the leads come in.
Lily Yu, Oak Springs Realty
Build Solid Business Relationships
One of the best ways loan officers can drive new leads is to build solid business relationships with commercial real estate (CRE) brokers and agents in their area. They not only know what is for sale, but who is buying what and where.
Once you’ve established yourself with CRE brokers and agents, they can talk you up with their new clients. This will help you get your foot in the door without much legwork.
Allan J. Switalski, AVANA Capital
Send Out Mailers
Sometimes tried and true tactics work best, and sending out mailers is a great way to get yourself out there and drive new leads. More people than ever before are in need of loan officers’ services, but often don’t know the first place to look.
You can advertise your products, recent lending rates, and success stories in a way that will arrive in people’s mailboxes rather than their spam folders. It’s a cost-effective solution that generates proven results.
Carey Wilbur, Charter Capital
Develop Referral Campaigns
One of the best ways to market your business is to create a referral campaign. Letting your customers know that you reward them for referrals is a great way to get qualified inbound leads with minimal marketing or overhead since you already know who to contact and how to get a hold of them!
Loren Howard, Prime Plus Mortgages: Real Estate Note Investing
Offer Teaser Rates
A loan officer can give a teaser rate to get new leads through the door. The loan officer’s purpose as a representative of the bank is to make money but good marketing results in getting people through the door. A teaser interest rate accomplishes this.
Janice Wald, Mostly Blogging
Leverage Local Facebook Groups
Be an active participant in Facebook Groups. Facebook Groups are still a relatively new source to engage in. Finding new communities and city groups is a great way to interact with high-quality contacts. Search for recent mentions on refinancing or reach out to people in the process of building.
Major purchases and financing don’t happen often for average individuals but by taking a consultative approach, you’ll build trust as an advisor and help prospects understand their options. When done well, you’ll find your name tagged in other conversations with a decent growing referral base.
Logan Mallory, Motivosity
Guest Post for Real Estate Agents
One marketing strategy that a loan officer could execute to drive new leads is to cross-post or guest post on a partner’s channel. For instance, an office could participate in a 30-second rapid-fire FAQ video posted on a real estate agent’s social media page. Or, the loan officer can pen a guest post on a realtor’s blog.
This strategy gives officers access to a targeted and tuned-in audience. Not to mention, since the page holder has an existing relationship with their follower base and has established themselves as a trustworthy and authoritative source of information, viewers are more likely to trust these recommendations.
Michael Alexis, TeamBuilding