Here’s a handy mortgage marketing tip: Mortgage marketing is full of terminology — but that doesn’t mean that you have to use that language in your marketing campaigns. I’m not suggesting that you dumb it down — there are definitely technical terms that legitimately describes the product or how to use it but, you definitely want to avoid using language that is more complicated than it needs to be.
For example, many mortgage companies use verbiage like “HELOCs” with consumers who don’t have the foggiest clue what the difference is between “APR” and “APY”. According to Lisa Joyce, at The Financial Brand, Financial marketers often fall back on safe, undifferentiated claims — positioning their products and services around ‘great rates’ and ‘amazing service’ while listing a cacophony of product features in a bullet list.
Sure, everyone can make a list of great features…..but what about the benefits to the consumer? That’s what they care about – what will it do for them?
Direct Mail Needs to Lead with a Purpose, Rather than a product
Successful mortgage marketers lead with a purpose, rather than a product. A financial services provider needs to show their audience that they can provide the solutions to their financial needs. Direct mail creates credibility and trust that no other marketing channel can achieve and once credibility is established, then the sales process can begin.
So, what’s your purpose? In the mortgage and real estate markets, you are offering your expertise and financial services to help people achieve their lifelong goal and acquire the home of their dreams.
And that’s the mortgage marketing tip for this month.