Brand

Seven low cost marketing ideas to grow your mortgage broking business

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.

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What is the value of your brand?

Photo by Emiel Molenaar on Unsplash

Warren Buffet was reputed to have said: “If you gave me $100 billion and said take away the market leadership of Coca-Cola in the world, I’d give it back to you and say it can’t be done.”

Essentially what Warren was saying is that the brand and reputation of Coca-Cola was worth more than $100 billion.

When you look at it that way, Coca-Cola makes more money than Pepsi (the brand) or any type of cola or soft drink on the market. The value of its brand is such that it allows Coca-Cola to charge a premium for its beverages.

Taking a leaf from their book, what is the value of your mortgage business? I mean what is the value of your brand? Do you have a reputation?

And like all small businesses we all struggle to build our reputations and brands. How do we project confidence in our services? How do we get our “name” out there, above the noise of the market?

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Build your personal brand

In mortgage broking, business is personal.  Our clients do business with people
they like, trust and perceive as credible.

As mortgage brokers, our profession is based on relationships.

The MFAA report: Observations on the value of mortgage broking clearly shows that the value of a mortgage broker to the consumer lie in:

  1. Clients getting personalised attention, allowing the mortgage broker to build a genuine relationship with them,
  2. Mortgage brokers are experts in mortgages and can save time (and stress) for their clients, and
  3. Brokers have knowledge of their client’s history and experience, and so are in a prime position to select the correct mortgage for them.

With this in mind, the way to promote the value of your business is to increase your professional visibility though your personal brand.

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