19 Jan, 2023
In The News,Lifestyle,Uncategorised Comments Off on How to Build a Marketing Plan: Mortgage Agents

Most mortgage agents and financial advisers don’t know where to start when it comes to marketing their businesses. When a marketing plan is in place, most things become much easier.

As outlined in this article, we will outline steps you need to follow and questions you need to answer in order to develop an effective marketing plan that will assist you in reaching your target audience and growing your business. So, let’s get this started!

Step 1. Identify Your Target Market

The target market is an essential component of business strategy: a company with a target market manages its investments more effectively and regulates its growth more successfully. It is necessary to determine the public category to which the offer is sold to make proper sales, marketing, and product development decisions.

Identifying your target market needs observation, reasoning, and intuition. This can be accomplished by segmenting your present consumer base and determining who your ideal customer is. You may be tempted to assume that your ideal client is anyone who owns or wishes to own a home. But you should be more specific.

To begin, consider your ideal clients to be role models. Highlight the major qualities that are important to them. Then, write down why that feature is critical to your marketing and sales efforts. You will discover several potential changes to your customer strategy by completing this assignment.

Step 2. Define Your Niche

This factor that will set you apart from your competitors. You must be able to convey your company’s message simply and concisely. Consider writing a statement that clearly describes what you do.

It might be the type of clients you work with, the areas you cover, or the types of properties you specialize in arranging mortgages for. In order to develop a niche strategy, you must identify your target market, identify an unmet need, study your client base, develop a business plan, and market your firm to that specific demographic.

Step 3. Identify Your Ideal Client’s Pain Points and Desires

What is your ideal client’s problem, and what promise do you give to him? For example, they may be struggling because they want to release equity from their current house to finance their self-build project, but their current lender will not allow them to remortgage.  And what is their goal or objective? Their primary goal is not to obtain a mortgage – it is a means to an end. Their ultimate goal is to be able to move into the new house.

Understanding what your ideal client wants will put you in a far better position to craft a marketing message that resonates with them and speaks to their needs. You must reply to a genuine problem faced by your target. If what you give does not correspond to a need, desire, or dream of your ideal client, it will never come to you, no matter how hard you try.

Your promise should pique your prospect’s interest and pique their desire.

Step 4. Create a Powerful Value Proposition

What could persuade customers to pick you and your items over the hundreds of others on the market? What distinguishes your company and its products from the competition?

These are the questions your value proposition must be able to address. Your value proposition is a brief and concise statement that distinguishes your mortgage company from the competition. It explains what you do and why you are superior to your competitors.

It is important to note that your value proposition should not be confused with a slogan, even if it must be summarized in a single sentence!

Step 5. Decide Which Marketing Channels Are You Going to Use

Mortgage agents and financial advisers have a plethora of marketing avenues at their disposal. The trick is to employ enough of them to get enough exposure.

You should choose channels based on your target market.

Traditional Channels:

  • Flyer:  Flyers allow you to target clients based on their location.
  • Poster advertising:  Display campaigns enable you to reach a big number of people. Don’t be afraid to utilize striking graphics or phrases to highlight memory, whether it’s on a bus stop or a giant billboard.
  • Magazines and print media: The written press continues to be a reliable means of reaching specific groups of the population, possibly those who are a little older.
  • The Radio: Radio is an efficient approach to reach people on their way to or from work.
  • Television: If you want to reach a large number of people with your message, this is the most effective, but also the most expensive method.

Digital Channels:

  • Website: The website has become an essential component of communication since it can provide all of the relevant information about your activities to your visitors. 
  • Blog: The blog for a company is an extension of the website that allows you to publish news, advice or any other material that you would find beneficial to share. 
  • Infographics: Infographics, which are very popular right now, graphically show a lengthy discourse, catching the attention of visitors. 
  • Youtube and videos: Youtube and videos in general are a blessing for reaching a qualified audience on a limited budget. Because the platform frequently serves as an alternative to television for younger generations, the target audience will be younger.
  • Twitter: You can communicate about your image and activities on Twitter. Do you go to events? Tweeting in real-time increases your dynamism and notoriety, and it allows you to convey information that may be valuable to others.
  • Facebook: Facebook, the world’s most popular social network, is increasingly expanding to the commercial world, despite its focus on the personal domain. 
  • Instagram: Instagram marketing is quite effective in increasing brand exposure. 83% of users say the social network helps them find new items or services. Even better, people trust Instagram-featured brands more. 
  • LinkedIn: You will be speaking to a professional audience here. As a result, your content must be professional without becoming boring. Publishing extended material on LinkedIn has at least three benefits: reaching a focused audience, enhancing visibility, and expanding your audience.
  • Email: Email marketing is a channel you should use regardless of your target audience’s demographics.  This is because it allows you to go directly into people’s inboxes without having to compete for attention on social media.  Start establishing an email list as soon as you know who your target audience is. It might become one of the most valuable assets in your business. 
  • TiktokTiktok videos are another great way to market your business.
  • Email Marketing: like social media, does not produce immediate results. So, if you want to generate leads quickly, you should surely include Google Ads in your marketing approach.


Step 6. Decide How Much Will You Spend on Marketing

A decent approach is to devote 3% to 5% of your annual revenue to marketing. Of course, if you’re just starting and trying to establish a customer base from scratch, you can and should boost that portion. And you may be able to reduce it as your company grows and you become more well-known in your industry.


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For more resource, see links below:

Marketing Ideas for Mortgage Brokers to Win More Clients in 2023