Video transcript below:
Reporter: Mortgage Broker, President of the Mortgage Teacher and Speaker at this year’s Mortgage Summit, Michael Mullis has had over 13 years of experience in the industry. A member of the CMHC Broker focus group, this expert shares his insight into how brokers can create a branding strategy that sets them apart from the rest.
Michael Mullis, President, The Mortgage Teacher
What are some key considerations when developing a market plan?
Michael Mullis: For one, definitely want to identify your target market. Know what kind of people you relate to, what kind of people do you easily warm up to and what people seem to be receiving your information. It could be younger versus could be older people. So know your demographic. With today’s social society and social media spreading as fast as ever, you can take that information, narrow it down, be specific with it and help those people in a local culture, a local area to easily connect and relate to your information. When people can relate to your information, it’s easier to form RELATIONSHIPS WITH TRUST. The last thing you want to do is create a brand that doesn’t represent you and doesn’t reflect exactly how you are. When it comes to the Canadian consumer, they can smell a fake from a mile away. So you want to make sure you brand reflects you, so you can be yourself within your brand.
What can we expect from your session at The Mortgage Summit?
At my session at The Mortgage Summit, we are going to discuss broadly what a brand is not. We are going to bring up differences between marketing versus advertising. We will talk pretty openly on how we developed Mortgage Teacher, how our launch was, some of the things that went wrong, some of the successes and the ongoing learning and all this we are going to tie in how we use social media to help this advance, in local communities and more direct.