Most LOs we work with, tell us they have the capacity to work MANY more quality leads than they are getting.
The most stable way to get consistent high-quality leads is through traditional word-of-mouth referral marketing. LOs develop relationships with real estate agents, business professionals, and former clients in order to have a steady stream of mortgage leads coming your way. That is the dream funnel of career originators.
If there is a problem with this strategy it is that it takes a long time to develop those relationships.
It is also incredibly difficult to win over a referral partner that already has other preferred relationships. To bolster the stream of incoming mortgage leads while working those traditional relationships, loan officers have to employ other modern digital strategies (or spend lots of money purchasing stale lists from potentially unscrupulous sources).
There is a natural order of operations when it comes to digital marketing practices. Taking advantage of LinkedIn allows your to reach more people to grow your network, and in less time. Otherwise, you’ll just be wasting time working your existing network.
72% of all B2B decision makers are on LinkedIn, and they are spending more and more time on the platform than ever.
Social media is an interconnected network of social circles. Each person has their “friends” or “connections” in a closely-knit network. Many times, these people are connected to their own special network. This phenomenon creates a powerful opportunity for word-of-mouth marketing via your satisfied clients and their circles.
To be effective when using social media, you have to have a strategy and execute it consistently and repeatedly. Velocity is a major key to social media, so you need to post often.
LinkedIn has become the social media network of record for B2B prospecting. However, it’s important to remember that people don’t go to LinkedIn to have boring ad-type content thrown in their face. People are expecting a more serious conversation based on professional relationships. Often, this network offers opportunities for niche marketing to professional groups in your area as well.