Machine learning in #marketing continues to evolve. Find out the reality and what it means for marketing to busines… https://t.co/gTlK6ATXfQ
June 23, 2015 | By RGR Marketing Blog

Calling All Mortgage Professionals

If you’re a loan officer or other mortgage professional, you’re always interested in finding ways to make your marketing more effective. If you offer loans for both residential and business properties, you benefit from a larger client base and a wider selection of available inventory, but you also have to take a multi-pronged approach to your marketing efforts.

Strategies that work for marketing to private individuals may not always be the best for gaining new business clients. Likewise, tactics that close business mortgage deals aren’t always effective for B2C transactions. So what are the key differences between B2B and B2C mortgage marketing, and how can you tailor your efforts to be more effective in both arenas?

For B2B, the Clock Is Ticking

Your business customers are always looking for ways to make their businesses run more smoothly and to earn more profits, and cutting costs can help accomplish both of those goals. They’re also typically pressed for time. If you’ve ever been a small-business owner, then you know how tight the schedule can be. There are meetings to attend, employees to manage, bills to pay, and clients to help.

So for business customers, it’s often best to serve up the facts in short order. How much per month can they save by refinancing their commercial property loan? What are the going rates for commercial mortgages? What’s going to happen if the Fed raises rates, and how can they lock in their interest rates to protect themselves from rate hikes? These are the types of questions they need answered, and they don’t have time to wade through a bunch of mortgage infographics and extraneous information to get to the figures they’re after.

B2C Is About Relationships

When marketing mortgages to private consumers, the goal may be the same, but the path to success is markedly different. Your email newsletters and Facebook posts are generally reaching these people during their off-hours, or during lulls in the action at work. They’re either exhausted after a long day at the office, or they’re sneaking in a little bit of personal time after lunch or between tasks. They want to be entertained and engaged, and there’s nothing sexy about interest rates.

Instead of hammering these customers with the hard sell or boring them with a litany of facts and figures, show off the human side of your business. Share funny pictures or retweet interesting articles. Write an entertaining post about the most expensive homes on the market or the 5 craziest houses that ever existed. Let them know that you’re eager to help when they’re ready for a mortgage, but don’t try to sell your low-interest 30-year FRM as though it were an impulse buy.

Buying a home is a huge decision, after all. So start out by building a relationship of trust. Establish yourself as a thought leader in the mortgage space and a “friend in the business,” and when your clients are in the market for a new home, your name will be the first that comes to mind.

Tailor Your Mortgage Marketing Approach

Whether you’re dealing with business clients or private consumers, the goal is the same: to close more deals. But what works for selling to consumers doesn’t always fit the bill when dealing with B2B clients. By tailoring your mortgage marketing approach for each market, you’ll increase the effectiveness of your sales pipeline and bolster your business’s earning capability.

[Photo Via: Portland Metro Live]

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