Social Media: More Than Just a Buzzword It is how you will do business for the rest of your career By Chad Jampedro
ed for his innovation. A great excerpt from the presentation was: Question: “What is the ROI of social media?” Gary’s response: “What is the ROI of your mother?” Interesting response, that is how important this is to your business! Be an originator … originate a loan a day or a relationship a day, both are equally as important to your business. Chad Jampedro is managing vice president of GSF Mortgage Corporation. He may be reached by phone at (262) 901-1444 or email cjampedro@gsf-mortgage.com.
Building Business Relationships Via Social Media By John Seroka
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WISCONSIN MORTGAGE PROFESSIONAL MAGAZINE MAY 2011
You’ve probably read plenty of articles especially if you haven’t made a connecabout social media, about how it helps tion with your followers. Why? Because mortgage companies connect with cus- without a connection, it’s unlikely the tomers, about how a good marketing plan messages you send out will even end up today includes a social media plan, about at the top of your followers’ news feeds. how some company quadrupled its sales Which means, your message will be just by using social media, and about how buried under all of the other messages you’d better get involved or get left sent by all of the other friends that perbehind … far behind. son is following. Better to So, after standing on the be actively engaged with shore a while, you dove in fewer followers that you and set up a Facebook page, know are receiving your maybe even set up a Twitter message, than to have a account or a blog. You postlarge following that isn’t ed messages steadily for a even seeing your postwhile, got some followers ings. Didn’t your mother and a comment or two, ever tell you, it’s not posted a few more mesabout quantity of friends, sages, got a few more folit’s about quality? lowers, got busy, couldn’t think of anything to write Start with a “Social media is not about, didn’t see the value strategy in the time you were devot- a straight-laced busi- Making social media work ing online, and before long, ness meeting … it’s takes a commitment— months had passed since just like every other marpeople connecting you last put out a message. with people. It’s way keting project you’ve ever That, or you’re still more low-key than a taken on. This commitstanding on the shore. ment doesn’t mean you formal news release Either way, you aren’t have to spend all day postor a product getting the bang out of ing on Facebook or tweetannouncement.” social media that you ing on Twitter, however. could be getting. All What it means is this: because you just aren’t sure how to make it work. Well, here are some ideas Help people find you online: List that should help get your social media your Facebook, Twitter, and party started. LinkedIn URLs right alongside your Web site URL on your literature and It’s not all about business cards. Put signage and rack numbers of followers cards in your lobby highlighting Of course you want followers … but your online locations and the type of racking up numbers for the sake of numcontinued on page 28 bers doesn’t guarantee you anything—
NationalMortgageProfessional.com
I am sure everyone in the mortgage refinanced qualifying customers to historiindustry is just about fed up with cally low rates and they are not going to be change … the changing guidelines, back in the market any time soon. The rest changing regulatory environment, and do not qualify and have the drastic change in stopped opening the direct income. One change that mail you send. By the way, has occurred is a change they are all checking their for the better. For those Facebook pages each day of us who accept it, it will for relevant content and not only survive through cool stuff people are doing what I have just menor offering. That database is tioned, but it will also alive with every status help in achieving the update. Mailing to 15,000 reinvention and stabilizawill be less effective that tion of their business having 150 people “Like” with new tools and the your page, read your Twitter same relationship-buildupdates or watch your “The terms ‘social ing fundamentals that video on You Tube. The flat have made this industry media’ or ‘social netfact is that consumers want great. working’ are not just a more intimate relationI will admit, it has ship with the companies the buzzwords of the been tough to get excited year; they are the way they do business with. about the mortgage They want to know you you will do business industry on a day-to-day and see transparency in for the rest of your basis. We all have our your business offerings. career. They repredays where doubt, frusThere has never been a tration and anger cloud sent a plan, and most better way to achieve all people I speak to our minds. I will admit of these objectives than these days are withthat the peaks and valthe use of social media leys in this industry have out a clear plan.” tools. The Internet is huge become more of a valley and getting “bigger.” It is than a peak, but there is the tool used by most a new dawn on the horizon and it every consumer to set a frame of referbrings back feelings of excitement ence and find out if they are getting a about the possibilities of what our busi- good deal or not. ness can achieve, not only by creating Social media outlets are tools within new opportunities to attract clients, but the tool. You can earn the trust and servicing existing relationships and business of the consumer by building clients better. Rarely do these two and maintaining a relationship with objectives align so perfectly. transparency. The terms “social media” or “social The bad news is … it can go the networking” are not just the buzzwords other way as well. Social media will of the year; they are the way you will do hold you accountable. If you do a business for the rest of your career. bad job or do not properly deliver, They represent a plan, and most people your customer has a powerful outlet I speak to these days are without a clear to tell the world about the experiplan. ence. This is more powerful than Here is the good news: If you have the old understanding of “Word of been successful in this industry and Mouth,” as this can be a wide open have survived to this point, you are mouth that never stops telling the already proficient building and main- truth. That accountability and transtaining relationships. Now you have parency should be welcomed into new tools to bring these abilities online your business. and build a community that “likes” you As I have mentioned before, you and what you have to offer. have navigated through the changes in Like it or not, your past client mailing the industry and have built relationdatabase is dead! You have either already ships to this point … you are ready for
this! If you have not already started, then by all means get started! If you have started, then take it to the next level. If you think social media and social networking are buzzwords or fads, you may want to update your plan to operate in this decade. I had an opportunity to watch Gary Vaynerchuk present his new book, The Thank You Economy. Gary’s book touches on the power of the Internet and how social media can propel your business. Watching Gary present was fabulous, he is a “real” guy that built a multimillion dollar business by giving away information and has become a social media guru and widely respect-