Brokers are caught in a conundrum. Getting business, particularly in the early stage of a brokerage, depends on lead generation and marketing. But often brokers lack the time, resources or expertize to shift through the hundreds of marketing tools available and set up a cost-effective strategy.
It’s time to bring marketing back to basics, but with a modern twist. Marketing consultant Louis Gudema, writing in the Harvard Business Review, has outlined seven marketing technologies you can’t operate without, and where you can find them – we’ve adapted his list for the mortgage industry.
It’s time to ditch that old cliché by retail and advertising pioneer John Wanamaker that “half the money I spend on advertising is wasted; the trouble is I don’t know which half.” Know we do know which half, thanks to tools like the free Google Analytics and paid-for versions such as Adobe Analytics.
2. Conversion optimisation
Getting people on to your website is different from getting them to interact with it – conversion optimisation seeks to bridge the two. Generally only 3 per cent of those clicking on an online ad will fill in a form; advocates of conversion optimisation claim they can double this. Tools include Wordstream’s Landing Page Grader, Optmzely and Unbounce.
Email marketing is desperately trying to move beyond its spamming image – the emphasis now is on providing tailored content for those who have asked for more information. MailChimp (used by MPA magazine) and Constant Contact are popular services.
4. Search Engine Marketing
In plain English: making you rank higher on search engine results. Google AdWords is the best known example, and can be combined with Google Analytics to track clickers as they go through your website. Search engine optimisation is the ‘free’ way of raising your profile, which at its core simply involves creating high—quality original content (i.e. a blog).
Have you ever noticed that after visiting a site you tend to see similar adverts more often? Like emailing only those who have expressed an interest, remarketing can be a powerful way of keeping in the mind of potential clients. Tools include Google AdWords and AdRoll.
Having a site that is optimised for mobile-phone viewing isn’t just about looking pretty; if you don’t Google may actually downgrade you in search rankings. Many modern software tools (i.e. Wordpress) do this automatically; if not you may wish to set up a mobile site where mobile users are automatically redirected.
7. Marketing automation
More advanced programs can combine many of the above steps. Tools include HubSpot, Act-On and InfusionSoft.
You can read Gudema’s original list here