You have to spend money to make money, as the saying goes, and one professional is doing both – and growing his business by leaps and bounds.
“Last year we spent $500,000 on marketing and we more than doubled our business,” Shawn Allen, broker owner of Toronto-based Matrix Mortgage Global, told MortgageBrokerNews.ca.
According to Allen, his brokerage did 557 total transactions in 2015 -- up from 263 the previous year.
It also did a total volume of $145 million – an increase of $52 million over 2014’s total.
Not bad for a smaller brokerage that primarily focuses on alternative business.
Allen credits his marketing efforts for the surge in business; especially a suite of videos that were rolled out online.
“The videos give a lot of information in a short period of time, which is good because people don’t really like to read anymore,” Allen said, advising other brokers to also get aggressive with their respective marketing initiatives," Allen said. “Everyone’s got to get out there and get their name out there,”
And he’s willing to help.
“We’re converting from just being a mortgage brokerage to become more of a marketing company,” Allen told MortgageBrokerNews.ca last year. “That’s where we’re spending a lot of our money.”
Allens’s plans include helping other brokers implement similar marketing strategies to help grow their own business.
“With the managed marketing we’re going national,” Allen said. “It will include online, direct mail, email, social media – it’s an entire suite.”
An example of Matrix Mortgage Global’s video series.