Seven low cost marketing ideas to grow your mortgage broking business

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It does not take much to grow your audience

Whether you have been in the mortgage industry for a while, or just starting out, marketing your business does not have to be a big budget production.

There are many inexpensive ways to build your brand and your customer base.

Some of these ideas have been tried by our brokers, and they certainly don’t involve a lot of capital.

With a little bit of ingenuity, innovation, industry connections, and some work, here are seven marketing ideas you can use to grow your business.

Master your social media game

The key here is consistency: have a consistent message, post regularly and consistently and project a consistent image.

Advertising using social media such as Facebook, Instagram, and Linkedin is certainly not expensive. There are a lot of opportunities to draw attention and gain traffic to your business.

For instance, check out the Facebook Ad Help Centre to help you with your facebook promotions.

Use social media to showcase your expertise. Supplement this with your own newsletters and blog posts.

Show people what your business is all about.

Join networking groups

The mortgage industry is built on relationships. If you can find long lasting industry connections and join like-minded individuals, this activity can help you grow your business.

Knowing others (and them knowing you) will help grow your reach. You can offer to help each other, offering support and advice.

And there may be opportunities where you can help each other out by recommending services to each other’s clients. You may even decide to cross-promote or organise joint-marketing activities with each other.

You may want to check out BNI or Toastmasters.

Participate in local business events

Most brokers work from home, and this can be a lonely business. It pays to get out of your home office and into your local community.

Check out your local city council’s website. Most councils run local business networking events, and it does not take long to get involved with other local businesses.

This may also give you a chance to market to another set of potential customers.

Work with your Centres of Influence (COI)

We are surrounded by influencers. Specifically I am referring to the accountants, financial planners, real estate agents and other associated businesses who may be able to recommend your services to their clients.

Try meeting with these COIs and see if you can work together.

The beauty with working with other professionals is that this offers you a chance to grow your audience, and in turn grow your own circle of potential customers and referrers.

Run an event

One of the best ways to showcase your area of expertise is to run a seminar or information session.

Some of our members have run very successful First Home Buyer sessions for instance.

This can not only help you improve your public speaking skills, but it will also improve your credibility and grow your reputation as an expert in your field.

Use social media, and good old fashioned word-of-mouth to promote your event.

Collaborate with other professionals

Never underestimate the power of collaboration when it comes to helping customers find the best outcomes.

Some of the professionals to work with include accountants, real estate agents, converyancers, lawyers, and financial plannners.

Working with these professionals can widen your field of influence, and grow your audience.

It can also be personally rewarding, as some of these professionals have become very good friends over time.

Apply for industry awards

The mortgage industry offer awards that can help to recognise your successes. Some of these include the MFAA Excellence Awards, the FBAA Awards of Supremacy, The Better Business Awards, Australian Mortgage industry Awards etc.

Entering these awards can put a real buzz to your business. Even if you do not win, it can make you think critically about your business.

It can boost your credibility and help your brand become better recognised.

Research the award categories, and find out which ones that your mortgage business may be eligible for.

If you want to find out more about how become a successful mortgage broker, contact us.  Check out our Facebook page for more updates, tips and news.