Is Building Relationships on Social Media Worth It? Two reasons why it is and four ways to do it By Joy Gendusa
1. Generating leads
It’s ideal to have repetitive mailings, so don’t just mail once and stop. The more prospects who are exposed to your message, the more likely they are to respond. I always encourage my mortgage clients to have a campaign that consists of three
The first goal of marketing is lead generation. Without leads, there is no one to convert into sales. When it comes to lead generation, social media is not your friend. The simple fact of it is that social
An image of a home A success testimonial (if you have one) The color scheme of your branding Your company logo One specific offer A simple, direct call-to-action
leads flowing into your company, you can begin your social media campaign. The best use for Facebook and Twitter is to use them to connect with your current customers and prospects. Here are some ways in which to do it: Send an e-mail asking clients and prospects to join you. Be sure to include a benefit of joining (free mortgage advice, a giveaway etc). Send a follow-up postcard with the same info/offer as the e-mail. When speaking with new prospects or clients, ask them if they are using social media. Then, do a search for them and connect that way. If you want to make a significant impact with your social media cam-
Now that you have gotten your feet wet, it’s time to get to work! It’s important to note here that while your ultimate goal for this campaign is to convert more clients, you need to be aware that prospects can sense if you are only out for their money and it won’t end well for you. When engaging with clients and prospects via social media, always try to provide helpful advice and communication—this is the cornerstone of relationship building. Examples of this type of communication are: Mortgage updates, news from the industry, testimonials, helpful resources, etc. Once they see that you know what you’re talking about and that you’re not trying to rip them off, they will be more likely to close. continued on page 32
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MAY 2011
3. Planning your social Once you have a steady stream of new communication strategy
MISSISSIPPI MORTGAGE PROFESSIONAL MAGAZINE
1. Generating leads 2. How to connect with customers and prospects using social media 3. Planning your social communication strategy 4. Engaging and converting
2. How to connect with customers and prospects using social media
paign, you need to put your resources into it. Direct mail and e-mail are proven to increase the visibility of sites. In the overcrowded World Wide Web, it’s nearly impossible to gain traction online without outside promotion.
NationalMortgageProfessional.com
Business owners in the mortgage indus- media is where you build relationships try, like so many business owners and with customer and prospects, not where marketers from every industry, are you start them. If you begin a social standing at the crossroads of old and media campaign with lead generation as new marketing media and trying to the goal, you will be disappointed. decide what path to take. To generate more leads You know the old stratefor your mortgage business, gies have worked for you, begin with a targeted postbut you’re concerned card campaign. Direct mail that they may soon be had always been a staple for replaced or that new the mortgage industry, and media might offer better for good reason—it works! returns on your investPostcards are a reliable way ment. Or, maybe you’ve to increase the number of even dabbled in social leads coming into your media but have not seen business. any results. There are a The first thing to conlot of questions sursider for your postcard “When it comes to rounding social media campaign is the list you for mortgage businesses, lead generation, social will mail to. This will but let’s start by answermedia is not your depend on who your best ing the million-dollar friend. The simple fact clients are. You will want question … to either compile or purof it is that social chase a list of these media is where you Should your mortgage prospects so you can probuild relationships company be on Facebook, mote to them with your with customer and LinkedIn, Twitter and direct mail campaign. prospects, not where other social media sites? Examples of lists you can you start them.” purchase are: Yes! There are two compelling reasons: (1) your clients are; Late payment lists: Individuals who and (2) your prospects are. are 30, 60 or 90 days late on their In order to grow in any business, you mortgage payments. need to stay in front of your clients and Reverse mortgage lists: People over prospects and build relationships with the age of 65 with a loan-to-value them—and the mortgage industry is no (LTV) ratio of 50 percent or less. exception! Social media can help you do Simple refinance lists: People with that by connecting you to clients and an LTV of 80 percent or less with an prospects through a media that is coninterest rate at least one percent sidered more personal and less “marhigher than the current rate. ket-y.” The trick is to know how to use it and to have a plan. For your direct mail piece designs, In this article, I will outline four steps go with professional, clean-looking to make social media work for you: designs including the following:
to five cards that get mailed out over set time periods. We call this a campaign, and it’s proven to produce better response than single blast mailings.