Marketing for brokers is about cost-effective methods that deliver results, says Ingrid Menninga of Jolt Marketing, who will be presenting "Monetize your Marketing" at the upcoming Mortgage Summit, powered by CMP magazine. One of the first decision brokers need to make when putting together a marketing plan, she says, is to decide who their most important clients are.
Video transcript below:
John Tenpenny, Mortgage Broker News TV
John Tenpenny: Building a brand, it’s not as simple as just putting your photo on a business card. Hi, I’m John Tenpenny, editor of CMP magazine and welcome to Mortgage Broker News TV.
Developing cost effective marketing tactics that deliver results is the goal, says Ingrid Menninga of Jolt Marketing, who will be speaking on this topic at the Mortgage Summit. She revealed to mortgage broker news TV that the most important thing for brokers to keep in mind when doing marketing is decide who are your most important client is.
Ingrid Menninga, Director, Jolt Marketing
Ingrid Menninga: Some of the most important things for brokers to keep in mind is number one, who their target market is. So which type of clients they really want to appeal to, their highly profitable clients are the best match for them and the really important thing in understanding that, is number one, you can build a highly profitable business that way. And number two, you know exactly what to do, to really make them happy, to exceed service level expectations and your marketing challenges and questions you have become really clear because you know exactly what to do to appeal to them.
The number two things is, you need to figure out what the magic marketing mix is for your clients, so what really happens to them. Number one for maintaining your existing clients and we know on the Merits Report that’s the mix, people like to hear from you with email, with direct mail and with phone calls. So make sure you have that and you supplement that with everything, so sort of personalise your marketing mix and then you need to figure out what you can do to really attract new clients. And of course keeping in mind your target market, because you really want to attract those people that are highly profitable clients. So figuring out what that is, whether that’s a mix of e-mail, social media, live networking events, it’s really important for you to understand what those are, you track the return on your investment for those different marketing tactics that you are using, so that you really do get a positive return on your investment for your marketing time.