Mortgage Marketing Tip – Purpose not Product

June 13th, 2018 by

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. Sure, there are definitely technical terms that legitimately describes the mortgage product or how to use it.  But, you definitely want to avoid using language that is more complicated than it needs to be.

Dump the Fancy Acronyms

We don’t need to show off how smart we are. What we need to show off is how we can help the consumer.

For example, many mortgage companies use verbiage like “HELOCs” with consumers who don’t have the foggiest clue what it is. Or, their mailers feature use terms like “APR” or “APY”. Many people get overwhelmed by jargon. When that happens, your mortgage marketing campaign will fall flat.

According to Lisa Joyce, at The Financial Brand, financial marketers often fall back on safe, undifferentiated claims. The tend to position 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 the key here is emphasizing the benefits to the consumer? That’s what they really care about. What will your mortgage do for them?

Mortgage Marketing Tip – 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.