Mortgage companies today are employing different kinds of tools – both conventional and non-conventional – to market their businesses. On top of the list of mortgage marketing tools are telemarketing and web marketing.
Telemarketing is marketing through call centers. Mortgage companies are contracted with call centers that provide leads on potential mortgage buyers. Call centers call people from a random list. If the person is interested in a mortgage, then the lead is forwarded to the mortgage company. By the method of hot transfer, a call can be directly transferred to an official from the mortgage company. The success ratio of call centers in mortgages is an estimated 8 to 10 percent.
Websites providing mortgage-lead generation services are another option. Websites describe several features of their mortgage companies, and try to attract customers. Interested buyers are pre-qualified online via an application form. This is also the lead which is forwarded to the mortgage company.
Many mortgage companies try to market themselves in the open market. Usually, when there are new schemes, companies hold seminars to a select group of people, who are usually real estate agents and home buyers. There are interactive sessions where the scheme is discussed in great detail. There are presentations and demonstrations conducted. Mortgage companies holding such seminars also provide incentives for people who buy their mortgages on the spot, or within a fixed number of days. This method proves to be a highly successful mortgage marketing technique, but it cannot be used all the time.
Some mortgage companies rely on flyers, poster and newspaper advertisements to create general awareness about their company. This helps the company to attract an initial flurry of prospective buyers. In the aftermath of such advertisements, mortgage companies have to sometimes hire extra staff to manage the increased load of queries.
Mortgage companies sometimes also use their existing buyers as tools to attract new buyers. Existing buyers are asked for references among their friends, relatives and colleagues who might be interested in acquiring mortgages. Mortgage companies may send greeting cards to them on their birthdays and holidays in a bid to appease them into giving referrals. They may distribute sundry things like pens or magnets as free gifts at strategic places.
Different marketing tools are adopted by mortgage companies according to their market standing and budget. The tools must be carefully planned after a demographic study of the market. Tools that have a utilitarian value such as postcard mailers, pens, refrigerator magnets and paperweights are always winners.
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