Bliss Sawyer's Marketing Blog

Blogging made easy!

Blogging has become popular with mortgage lenders looking to increase their visibility and become known as an industry expert.  (see even more reasons why you should blog in my Mortgage Originator article.)

For loan officers that want to blog but don't want the hassle of learning a new technology, a new service called Bring the Blog (http://www.bringtheblog.com) makes blogging easier than ever before.

For $399 annually, Bring the Blog gives you your own Web site, the easiest Web interface I have seen, and they even go the extra mile by writing new content for your blog every business day.  If you've ever said "I'd love to blog, but I don't have the time" -- Bring the Blog is your answer.

As a company, Bring the Blog offers a completely free 15-day trial and they also make a "demo account" available where you can give the product an actual test drive.  https://www.bringtheblog.com/login.php?user=demo&password=blogging. 

Once you test the product, I know you'll love it.  You'll also love the $100 discount you get as a reader of my blog -- be sure to use referral code BLISS07BLOG.

Click, click, click and you're done.  Blogging has never been so simple.

Two-Question Survey

David Bush of My Mortgage Community shared a great concept with me recently about improving through a simple 2-question survey.  I've always known the value of following up with borrowers to find out how they felt about their lending experience.  Knowing what you have done right and getting the opportunity to fix what may have gone wrong is invaluable.

Most people are willing to give feedback, what they find frustrating is being asked to answer 10, 15 or 20 questions.  There are really only two questions necessary to receive the feedback you need to improve.

1.  On a scale of 1-10, how would you rate the quality of our service on your recent mortgage? (Or - On a scale of 1-10, how likely are you to recommend our mortgage services to your friends and family?)

2.  If your answer was less than 10, what would it take to make it a 10?

After this last question, add "Feel free to offer any other suggestions, praise or comments."  You will hopefully receive some glowing testimonials that can be used in your future marketing.  If you receive some less than glowing comments, take the time to follow up and apologize for any problems or miscommunications.  Most people will easily fogive human error in the face of humility and a willingness to improve.

This simple survey can be delivered by email or snail mail.  I recommend you make it a habit to send this out within a week of closing.  The experience is still fresh in their minds and clients will be more likely to return the survey. 

To review a related article in the September, 2006 Inc. Magazine, "Would You Recommend Us?"  click here.

Make your mailings remarkable

I've always loved using the mail to stay in touch with past clients, potential clients, Realtors and my sphere of influence.  I'm continually looking for and creating new things that will add value and get my name in front of these groups.  This was a large part of my success as an originator.

One critical step is to get your mailing opened and kept long enough for the recipient to take action (or if they do not need your services, hand off your information to someone that does.)  I recently read an article in Loan Officer Magazine titled "Make Yourself Instantly Remarkable" by Brett Grendhal of Tidal Wave Capital.

Now, I might have been slightly influenced since I read this on Valentines Day, but I loved his idea of sending mailings in Red Envelopes.  Here is a brief excerpt from this article...

One of my driving principles is that when someone receives something from me in the mail it must be something that was unexpected, something worthy of comment.

Here's a simple example.  If I have just pulled someone's credit report, I will ask him or her, "Since I just printed your new credit report, would you like me to mail you a copy?"  Then I tell them that I will mail it out TODAY and to "keep an eye out for a red envelope in the mail."  Part of my company's branding strategy is the color red.  They are expecting a red envelope.  So, when the prospect or client receives their credit report the next day they will see the big red envelope and remember, "...here is the red envelope Brett mentioned."

Brett also sends out other unexpected items (such as an audio CD about credit) with his mailings to make sure they receive more than was expected.  I think the idea of a red envelope can help to differentiate you from the competition.  You could also use this as a unique way to send mailings to your Realtor contacts.  Use this idea to brand yourself.  The color red symbolizes passion and action.  Two ingredients to a successful origination business.

Eat That Frog!

I've read Brian Tracy for years and just picked up his most recent book, Eat That Frog!  21 Great ways to stop procrastinating and get more done in less time.  This is an easy read (with my schedule, I like short and sweet!) that anyone can benefit from. 

We all procrastinate in one way or another, in business as well as in our personal lives.  What sets the successful person ahead of someone else is the fact that they get more done each day.  Brian Tracy gives you a simple way to combat this...eat the biggest, ugliest frog first each day.

I love this!  I've tried it and it works.  Most of us (especially me!) do the easiest, quickest, most enjoyable tasks first each day.  Flip this thinking and take the most difficult task on your list and do it BEFORE everything else.  Work at it until it is accomplished, which then creates forward momentum for the rest of your day.  You will get more accomplished and feel more energized.

We all know that there is not enough time in the day to accomplish everything we want to, need to and have to.  Prioritizing correctly gets more of the "have-to's" done so you can enjoy more of the "want-to's"

Since I accomplished my biggest frogs already today - I'm off for a bike ride.  But don't take my word for it.  Try it for yourself. 

6% Get 60% of the Business

As most of you know, I am working my way through The Success Principles (Jack Canfield) with two sales friends.  I just read a great statistic on sales calls I want to share with you.

Herbert True, a marketing specialist at Notre Dame University, found that

• 44% of all sales people quit Trying after the first call
• 24% quit after the second call
• 14% quit after the third call
• 12% quit trying to sell their prospect after the fourth call

This means that 94% of all salespeople quit after the fourth call.  BUT 60% OF ALL SALES ARE MADE AFTER THE FOURTH CALL!  In our business, 6% of originators are producing 60% of the mortgages.  (The movie Pursuit of Happyness is a great example of this principal.  Go ahead and schedule a field trip to see it soon.)

This is great news for you!  If you can work through the rejection, discouragement and disappointment of not getting the loan, the referral or the appointment you can win at this game.  The majority (94%) of your competition is quiting before they get to that next YES.

For years, I have taught a principal called the Marketing Rule of Five.  Take a look at this article to give yourself some ideas on how to stay in touch after the initial contact with a prospect.  Some loan officers don't even wait for the first no, they drop the ball before hearing the potential clients answer.  Don't let any more prospects slip by you.  Take the time to set up a system that will get you closer and closer to more Yeses!

Thanks a Million!

Have you ever wanted to say "Thank You" in a unique way, yet not spend a fortune?  This could be for Realtors, builders, staff members, or anyone else that has helped you in some way through this maze we call the loan process. 

Here is a unique way to express your appreciation that is simple, yet effective.  Purchase 10 Hundred Grand candy bars.  Place a label on each candy bar (print contact info along with "Thanks a Million!" on small address labels.)  Hole punch a corner of your business card for a ribbon to thread through. Wrap the candy bars together with the ribbon and your business card.  You now have an eye-catching thank you gift. 

Most people will share this gesture of thanks with those around them (unless, of course, they have issues with food - but there are other blogs that address that!)  You are now reinforced as a lender that takes the time to appreciate those around you.  And they now have your phone number in front of them and a reason to talk positively about you.

Remember - the simple act of demonstrating your thanks can be essential to success in this business.  From the UPS guy to the loan funder, (the end of the month is great time to say thank you) you are dependent on many people for your success.  It will also serve you well to keep in mind the referral potential of each of these individuals.  Someone they know is probably searching for a mortgage even as you read this e-mail.  Did they think to hand out your card or mention your name?  Perhaps after receiving their million they will be willing to share their new-found wealth along with a recommendation of your services.

Tim Sanders Clip

I enjoyed this clip from Tim Sanders...what a difficult beginning to his life and rather than use it as an excuse, he has proven to be a great leader in the business world.  I also loved what he said on making yourself emotionally attractive.

http://sanderssays.typepad.com/sanders_says/2007/02/boost_your_lfac.html

Remember why you do what you do... Because you're good enough, your smart enough and doggonit, people like you!

Enjoy!

Book Yourself Solid

One of the things most loan officers struggle with is finding new prospects, which is both referral sources (Realtors, builders, financial planners, etc.) and clients that are ready to make application.  Relationship marketing is the easiest way to accomplish this and the strength behind all that I teach and write about.  So when I find a related book I devour it!

This was the case with Michael Port's new book - Book Yourself Solid.  (The fastest, easiest, and most reliable system for getting more clients than you can handle even if you hate marketing and selling.)  This book will help you set a strong foundation of developing your personal brand and attracting clients to you.  According to Port, your foundation begins like this:

• Choose your ideal clients so you work only with people who inspire and energize you
• Understand why people buy what you are selling
• Develop a personal brand so you're memorable and unique
• Talk about what you do without sounding confusing or bland

The book goes on to take you through the steps of getting yourself "Booked Solid".  I've always said that your ultimate goal should be to spend the day answering calls from friends and their friends who are asking you to do their mortgage.  This is the premier outcome of relationship marketing.

Expanding Your Database

I’ve heard it said that a mortgage originator’s database is his lifeline.  True statement.  If you have (and market to) a strong database of past clients, friends, family, referral partners and potential clients, you will always enjoy a steady stream of referrals.

Take a look at all the people around you…are they included in your database?  This would be the first step.  Work to create a database that includes everyone that would possibly recognize your name.  Most originators have one with their past clients.  This isn’t enough.  Your list should include your neighbors, friends, hairdresser, doctor (yes – they need mortgage too!) plumber and anyone else you can think of. 

Once you have all of these names in your database, look for ways to find more names.  Get involved in associations and organizations that you can serve and will help you to expand your center of influence.  Offer to send out the newsletter for your kids sports team, get involved in a networking group or you can look for other opportunities that put you in a position to meet and become a resource to people.

If you have an assistant or processor of your own, offer them an incentive to help you build your database.  They have a sphere of influence that most likely knows they are involved in the mortgage industry.  Each of those people should be receiving your monthly mailings as well.  If your assistant is complaining that things are slow….show them this post and brainstorm ideas on expanding your database as well as marketing to them on a consistent basis.