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Yesterday, my marketing newsletter went out discussing database calls. (Click here to view). I received an e-mail from John Noonan asking how the do-not call list affects this marketing strategy. Great question!
Here is a quote directly from the donotcall.gov site. I also recommend you have a statement on one of your application forms giving you permission to stay in touch. I doubt you would ever have someone say no - and you will then be protected should anyone question you after the 18 months.
Is your pipeline in crisis? Have you considered hiring a coach, but hesitated because of the cost? Coaching is one of the fastest ways to improve your business and increase income, yet few can afford a personal coach. Next Best Thing Coaching is a virtual program that costs less than $16 each week!
I consistently hear loan officers express the concern that they struggle with implementation, focus and motivation. Next Best Thing Coaching solves this problem by giving you innovative marketing and organizational skills to help you rise above the competition and reach your goals.
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I recently finished reading Malcom Gladwell's new book Blink. I loved his previous book, The Tipping Point and couldn't wait to read this one ...I wasn't disapointed. Basically, this is a book about trusting our intuition. "The power of thinking without thinking."
Right after reading Blink, I had one of my coaching clients say an interesting thing to me. He said, "one of the things I'm going to change in my life is to start trusting my instinct. When I haven't done that, I always regret it." I, too have had times when my first thought was ignored and later realized I should have followed through with my original impression.
This book is an interesting read with many examples and studies to prove that our first thoughts and impressions are usually correct and lead us in the right direction. Reading this books opens your mind to a new way of thinking that just may help you personally and professionally. You will have the ability to make better decisions in less time.
Ok...this post probably won't help you close more loans or motivate you to try a new marketing idea, but it made me laugh so I thought it worthwhile. I think we've all had moments when work is more fun than being a parent.
I have two teenagers with another two headed that way. My 17 year old tells me I should work more hours so he can have more things. My 19 year old just finished her freshman year of college, only three more financially draining years to go. And the two younger ones like to practice at being teenagers, so yes, I can relate to this cartoon.
When I am headed out of town, I always tell my kids the best part is coming home. Sometimes a few days away is just what you need to appreciate what you have!
I love to passs along creative ideas and am grateful when loan officers are kind enough to share. Stacy McMillan with Karn Mortgage in Aptos, CA has been doing a campaign directed at consumers with adjustable rate mortgages. Here is a brief explanation of Stacy's idea...thanks, Stacy for sharing!
"I made a series of third-of-a-page mini-flyers, and included them with a pack of seeds with my address label on them, that said four different things: "Don't get in a pickle" (sent with cucumber seeds), "PEAS don't let your interest rate grow out of control" (with pea seeds), or "Don't let your interest rate squash you"(squash seeds), or "Lettuce help you refinance your loan" (with lettuce seeds), or, simply, "Don't let your interest rate grow out of control" for all other seeds once I got tired of being so clever.
I targeted the mailer to folks whose loans are about to adjust, up to six months in the future. I even got gutsy enough to walk up to people's doors, because I felt confident enough to reply to "I get tons of these in the mail" with, "yep, I know, that is why I am here in person..." And when I had to leave seeds at the door if no one was home, I left a flyer about improving credit or rates adjusting. But they could be left alone as well."
Does the end of the day come too fast? Do you always feel like you are spinning your wheels and yet not accomplishing the IMPORTANT things? Part I in taking control of your day was about being more productive by blocking out email and phone while focusing on specific marketing objectives. Part II discussed managing time spent in appointments, working on files and closings. In this final chapter you will find out how to stay ahead of the rat race and keep focused on your goals.
1. Expert advise. If you are finding the competition stronger than ever (many borrowers are now talking to up to seven lenders before making a choice) you may want to spend quality time becoming an expert. If you already feel confident with your market knowledge, spend 15 minutes each day updating yourself about the market and interest rates. Mortgage Market Guide is a tremendous resource that is unparalleled in our industry. You can also get market information from CNNMoney or Bloomberg. Consumers are looking for a reason to trust you. Your ability to understand their needs and interpret current marketing conditions to satisfy those needs will give them that feeling of trust. Plan to invest more time initially if you don't currently feel confident in your level of knowledge.
Product knowledge is essential as well. Especially in the changing environment our industry is experiencing. Pick one loan program each week to familiarize yourself with. Then look for an opportunity to discuss the program with someone; a consumer, Realtor, your processor or even your mom. The simple act of explaining something you recently learned will increase the chances of you remembering the information.
2. Questions. I want to share a little secret with you...I talk to myself. I try not to do it out loud if people are around, I don't want everyone to think I'm crazy. I have found a few specific questions that, when asked, keep me focused and truly on course to accomplish what is most important in my life.
A few times a day, ask yourself "What is the best use of my time?" This simple question will help you decide which activities, at that current moment, are best for you to work on. The second question is "What's the opportunity in this?" Even the most discouraging situations can benefit from this question. Struggles and conflicts often create learning experiences for us. Open your mind to new possibilities as you begin to look for the silver lining throughout your day. You'll find lie becomes easier and problems resolve quicker.
3. Goals. Decide where you want to be in 3 months, 12 months and 5 years. Short term and long term goals, if reviewed often, will keep you focused on accomplishing the most important tasks. Often the URGENT of the day pushes out the IMPORTANT. Marketing is important. Phone calls are important. Database management is important. But these are often the first thing to get pushed aside if you don't have your day planned ahead of time. Be specific when you are goal setting. Decide on the goal and then work backwards to determine what needs to be done monthly, weekly and daily.
I hope you have benefited from this series as much as I have in writing it. We can all use reminders now and then to keep our business (and lives!) functioning at its best.
Another exciting idea from Karen Deis. If you are a woman in the mortgage business, this blog is for you! MortgageGirlfriends.com is a site where you can exchange ideas, get advice from other women and pretty much let everyone know what's on your mind. Sorry men, but mortgageboyfriends.com just didn't sound right. 
The Referral of a Lifetime, by Tim Templeton was given to me by Todd White, an absolutely fantastic production manager with Arvest Mortgage. He had purchased a copy for each of his loan officers and graciously gave me one as well.
This book is part of the Ken Blanchard Series, Simple Truths Uplifting The Value of People in Organizations and is an easy to understand parable-type book providing you a "networking system that produces bottom-line results...Every day!"
In two words...RELATIONSHIP MARKETING. Highly successful originators have discovered the secret of creating relationships. A strong, referral-based business is obtained one relationship at a time. This short book gives you the secrets to developing this kind of business. And the best part is that you can learn to love your job again!
I tell each of my new coaching clients my primary goal for them is that they reach a point where they are talking to their friends and their friend's friends and everyone is saying "please help me with my mortgage." That is what relationship marketing is all about and this book lays out the steps to reach this goal.
Marketing
