In fact, past customers can actually be a valuable part of your marketing strategy, helping to bring in referrals, new business and, in some cases, maybe even a repeat sale or two.
But how do you make that happen?
What can you do to leverage those past customers and turn them into a stream of revenue now?
I can tell you one thing: traditional marketing methods won’t do it. Paid advertising, one-size-fits-all newsletters, and snail-mail postcards and flyers aren’t going to convert a past borrower into a repeat customer, nor will they encourage them to send new clients your way.
What will help is inbound marketing, which focuses on providing targeted content that’s specific to the customer’s exact spot in the buying journey (even if they’ve already done with the buying part.) It’s a very precise, tech-savvy, and customized method of marketing that keeps your past borrowers in the loop and on the hook, long after they’ve signed their papers and moved into their dream home.
Specifically, here’s what inbound marketing can do:
It keeps you top of mind.
Inbound marketing helps you keep in touch with past customers – weeks, months, and even years after you’ve done business with them. With the use of automation tools, you’re able to schedule out perfectly timed, optimized, and targeted content that keeps you on their mind and in their inbox for the long haul.
By using email automation, for example, you can schedule messages to go out every week, two weeks, or month post-funding, tailoring that content to the borrower’s exact spot in the homeownership journey. This cuts down on hassle and ensures you’re still in their sights -- even if they don’t need a new mortgage right this second.
It provides them value – every single time.
In inbound marketing, we don’t do cookie-cutter, one-size-fits-all content. Instead, we define clear buyer personas, and we create content specific to that group’s exact spot in the buying process. We divide and conquer, as the old saying goes. This allows us to provide highly valuable content to the customer – content they can use in their daily lives right this very second.
Here are some ideas that can deliver value after the initial transaction:
- Around property tax season, send information on filing for homestead and other potential exemptions that can save them money
- Debt consolidation tips (including cash-out refinances, HELOCs, and other options you can help them with)
- Home repair advice or remodeling inspiration
Quality, well-timed content is something every customer is going to appreciate and remember.
It positions you as the expert.
Inbound marketing is all about creating great, valuable content, and the more you do that, the more of an expert your brand becomes in the eyes of your customers. It makes you the go-to resource – the place they turn to with questions or concerns about the home-buying process. And in the end, that means more referrals and more repeat business. After all, who do you think they’re going to recommend next time they know someone buying a new home? A random mortgage lender they found on Google or one they’ve relied on for quality, expert information for years? You can bet that referral’s yours – and many more to come, too.
It gives them plenty of opportunities to share your brand – and its offerings.
Good, relevant content is shareable – plain and simple. People want to post it to their Facebook feeds, forward it to a friend, and text it to their spouse. As they do that, it gives your brand more visibility, putting your products, services, and, most importantly, expertise in front of hundreds of potential customers every time.
It automates the process.
Much of inbound marketing is about automation – making marketing as easy, effective, and tech-driven as possible. Compared to traditional marketing methods, it can save you immeasurable time and resources over the years – not to mention bring in better results. And who wouldn’t want that?
The Low-down on Inbound Marketing in Mortgage
The moral of the story is pretty simple: Don’t give up on your past borrowers. With the right inbound marketing tactics and tools, you can actually turn old business into new revenue easily and efficiently. (Just imagine: an automated email campaign for your LOs that eliminates tedious follow-ups and customer tracking? Yes please!)
Reach out to us if you want to learn more about the power of inbound or how to use it for your brand.
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