The key to running a successful mortgage broking business is not just the mortgage broking part of the equation, but the business part.
And the number one business activity for any broking firm is generating more leads. No leads = no sales = no business. Sounds simple, right? It is, but it’s often the simple things that are overlooked….
With that in mind, here are seven things you can do to generate more leads. You don’t have to do all of them; but you should be doing at least a few.
1. Organise referral coffees
Each week, you could organise a coffee with a potential referral partner, such as an accountant, financial planner, buyer’s agent, or real estate agent. Within a year, you’ll have built relationships with 52 key people who could send business your way.
2. Network
A related tactic is to join a networking organisation like BNI, Women in Business or something similar. A referral networking group allows only one person from each profession to join a particular chapter (e.g. one broker, one physio, one family lawyer, etc). When you join, you’ll start attracting referrals from within the chapter – because anytime a member needs a broker, you’ll be the only broker in the group. More importantly, though, fellow members will start promoting your services to their network.
Although just being part of the group and showing up is only half the story – you also need to ensure you can pitch your business offerings appropriately and also go in with the attitude of helping clothes first (not just about what you can get out of it).
3. Run Google Ads
This can be a very quick way to generate leads. Just make sure the landing page where you direct people perfectly matches the keyword you advertise against. Otherwise, when people arrive on your landing page, they’ll feel it’s not able to answer their query and they’ll leave – which means you’ll have paid for useless traffic.
A word of warning about ads (of any kind) – they might often seem like a quick win, but if you don’t have a good understanding of the basics around your business like niche and target audience then it could be wasted money. And all leads are not equal, so before you spend money, consider what you actually want to get out of it.
4. Be active on social media and blogs
Every time you publish content and engage with other users, you’ll build a little bit of trust, credibility and brand recognition – which can ultimately lead to new enquiries. This is a long game, but a worthwhile one (in our opinion!) because you are building a catalogue of digital assets (on LinkedIn, blogs and social media platforms) that will be there when people find you. You can become a thought leader in your space and also overcome some of the common objections or questions by creating valuable content for your audience.
5. Participate in forums
Find a relevant online group – such as one for first home buyers or property investors – and answer any finance questions people might have. If you consistently leave helpful (rather than salesy) comments, you’ll eventually build a reputation as a trusted authority figure. So when people need a broker, you’ll be the first person they think of.
6. Conduct interviews
This is a combination of ideas #1 and #4. Interview potential referral partners (either over Zoom or via a podcast) and then publish the content on social media. That way, you can simultaneously build relationships with key people and be active on social media. Also, when your guests republish the content, you’ll gain exposure to their networks and the all important backlinks to your site (these are great for SEO!)
7. Do email marketing
There’s no point generating all these leads if you don’t nurture them. That’s where email marketing comes in. To make things more efficient, you can even automate the process by using a high-quality email automation platform like ActivePipe. That way, with very little effort, you’ll be able to remain front of mind with your database.
The ROI on email marketing cannot be ignored – Email marketing has an (ROI) of $36 for every $1 spent. Much higher than any other form of marketing – online and offline. (Source: Constant Contact)
While it might seem overwhelming when you look at these strategies, fear not – Auctus can help. We work with brokers on all aspects of their business and marketing and we are here for you too.
Auctus Coaching can show you how to run a profitable mortgage broking business. Book your discovery call with Christian Paterson today or fill in this online form for more information.
