The most effective newsletter strategy for lead generation

Posted by Feb11, 2013 Comments Comments Off on The most effective newsletter strategy for lead generation
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Sending newsletters to clients can be an effective way to stay in touch with them and ultimately generate leads (repeat and referred business). The interesting thing is that when I talk to many brokers I have learnt that brokers are doing lots of different things. Very few brokers are sending newsletters monthly, most are sending them bi-monthly or quarterly and too many brokers aren’t sending any newsletters at all! There is no excuse for not sending newsletters as you can outsource the production for a relatively small cost through providers like Your Client Matters and it should pay for itself many times over.

How often

How often should you send out a newsletter? That really depends on what other communication you are doing such as writing blogs, Facebook posts, webinars, sending text messages, direct mail and so on. You don’t want to over-communicate to your database as they will get sick of you (although most brokers aren’t risking doing that). I read some research many years ago (can’t recall where) that suggested there is a two-week window where a home buyer will actively search for the right home loan. After this two-week window, finance becomes an after-thought. If this research is true, sending a newsletter quarterly probably won’t cut it.

Content

The second consideration is the Reticular Activating System (RAS) which is part of the brain that sifts through all the subconscious observations we make to work out what is relevant and not relevant (as the brain can’t deal with them all). Of course not all content in a newsletter will appeal to everyone, all of the time. The RAS will scan the newsletter and your brain may not even “notice” the content if its deemed by the RAS as irrelevant. So what does this all mean? Well I think it’s important to address a few topics in the newsletter and those topics (if possible) should relate to a solution or service you provide.

What do I

For the past 8 to 9 years I have always written my own newsletter and published it monthly. Instead of having a whole bunch of articles, I opted for writing one quality article (typically 1,000to 2,000 words long). This has worked okay but I have decided to change it. Instead of one article I will now include 3 to 4 articles as my business now offers multiple services including planning, insurance and tax. I will have an article that relates to a few or all of these topics. If you don’t offer any other services other than mortgage broking, then perhaps your articles should relate to your various client categories (such as home owners, investments, up-graders, etc). The key is to make the content relevant.

I’d love to hear your newsletter stories – what works and doesn’t work. Let me know.

Next week I’ll talk about how to get your newsletter out there – email, print or something else?

 

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Don’t forget… we live in the Lucky Country. So what are you doing about it?

Posted by Jan21, 2013 Comments Comments Off on Don’t forget… we live in the Lucky Country. So what are you doing about it?
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In my manifesto I wrote about the massive change in the geographical location of the world’s wealth. It used to be that most of the world’s wealth was made/held in the US and Europe. That is rapidly changing and wealth is pouring into the Asian region. I read with interest an article that included a prediction of GDP produced by the top ten countries by 2050– see article here.

It is predicted that China, India, Japan and Indonesia will produce $US102,971 billion (in today’s dollars) of GDP in total. The entire top ten nations will produce $US176,752 billion in GDP. That means the four nations previous mentioned (that are in close proximity to Australia) will produce nearly 60% of the GDP produced by the top 10 nations. Currently, these four countries account for less than 40% of the GDP produced by the top 10 countries. Combined, these four economies are set to be 5 times larger than they are today by 2050. Can you just imagine the amount of wealth and opportunity that will flood into the region? And Australia is an attractive country to visit, invest in and live… so we (and our children) have so much to gain.

Brokers are the backbone of the financial services industry as most people’s first major financial decision they make is to buy a home (and get a mortgage). We can help educate our clients and develop a trusted relationship with them so that we can help with all subsequent financial decisions and be their gatekeeper for all things financial. It’s a big vision but I believe it can become reality – read how in the manifesto. What are you doing to capture this opportunity?

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Planning your marketing for 2013? Where will your attention be in 2013?

Posted by Jan11, 2013 Comments Comments Off on Planning your marketing for 2013? Where will your attention be in 2013?
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Hopefully you’ve enjoyed a break over Christmas and New Year and recharged your batteries. Many brokers will now be turning their attention to 2013 and hopefully setting some lodgement and settlement targets. Once you have set a goal you’ll need to develop a plan to work out how you’ll be able to achieve that goal. This will include a marketing plan to help you generate the required number of leads.

When developing a marketing plan, many business people focus on finding completely new clients. However, if you have been in business for a few years and have a reasonable client list, your most effective marketing efforts are probably best aimed at your existing clients to generate repeat business and/or referrals. Unfortunately, few brokers have planned marketing strategies that target existing clients.

My challenge to you is to develop and document (plan) 4 strategies (one for each quarter) that you can implement in 2013 which target existing clients. Strategies you might consider including running a webinar, direct mail letter advertising free property valuations or RP Data reports, email a report or article (on an interesting financial topic) to clients and inviting them to forward it to their friends, ask clients for a referral (if appropriate) and so on. My advice is to work on these strategies first – before you work on finding brand new prospects. Do you have any good strategies to share? Comment below.

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Brokers have the opportunity to help fulfil a household true financial potential

Posted by Dec17, 2012 Comments Comments Off on Brokers have the opportunity to help fulfil a household true financial potential
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I would like to thank Ben Kingsley (an Ambassador of The Mortgage Broker Revolution) for being the first Ambassador to contribute to this blog. I invite other subscribers to send me their articles, opinion pieces, views for publication to keep the revolution alive…

There is a silent struggle going on between Financial Planners, Accountants  and Mortgage Brokers to win the trust and respect of households to help them manage their money and to fulfil their financial destiny.

It’s clearly evident that many households struggle to manage their finances to meet their basic needs, let alone manage their finances to a point that will see their money being used more efficiently to repay debt or build wealth.  Furthermore, statistics show that less than 40% actually seek out the services of a financial planner to assist them in these matters.  One could argue that accountants would also see around the same number seeking guidance and advice around how to better manage their money.

In line with Mortgage Broking Revolution, there are two very favourable reasons why Mortgage Brokers could in fact hold the key to advice for households and their money matters

  1.  The introduction of the National Consumer Credit Code has seen regulation introduced into the space of credit advice and this now allows licensed Mortgage Brokers the ability to provide finance advice not just on mortgages, but also on transactional banking accounts such as offset and line of credit options as well as credit cards.  All these types of products are in almost every household in the country.  So this regulation now limits financial planners and accountants from offering personal advice relating to such forms of credit.

 

  1. Currently there is no clear professional advisor who consumers believe to be the placed professional to seek money management advice in helping them improve their financial affairs.  It’s obvious that accountants are whom you seek advice on for taxation matters and it’s also obvious that you seek the services of a financial planner for any licensed investment product advice on matters such as share investing, super or managed funds etc.

But when you think about it, the first major decision around managing one’s money better usually starts off with saving a deposit for a house and being in a position to afford the repayments, which is the perfect realm of the Mortgage Broker.

If the Mortgage broker is smart they should realise they have the potential to be the very first trusted advisor a person or household will seek out to take advice on money.  The Mortgage broker who recognises and adapts their business to meet the needs of the market is sure to be in a very influential position in helping that household today and well into their future.  Additionally, if they truly win over the trust and minds of these clients, they will also be called on to help these households find good accountants and financial planners and other professional advisors.

A mortgage broker who thinks strategically rather than simply transactionally and who focuses on helping a household better manage their money and not just their mortgage will become the true ‘finance advisor’ Australian households are desperate to work with and they will be our industry leaders of tomorrow.

by Ben Kingsley CEO & founder of Empower Wealth

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The number one thing you must be doing as a mortgage broker

Posted by Dec07, 2012 Comments Comments Off on The number one thing you must be doing as a mortgage broker
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In the past, clients would come to advisors for information and advice. However, today, information is available in abundance – mostly via the internet. Advice is being commoditised too. So what is your main role as an advisor if it’s not to provide information and advice?

Allegedly, Leonardo Da Vinci said that “simplicity is the ultimate sophistication”. I think it’s a perfect reminder for how to deal with clients. I believe a successful advisor makes seemingly complex situations/decisions as simple as possible. Simplicity aids understandability and clarity and that gives clients’ confidence (in you and their decisions). Simplicity can be achieved by saying what you need to say in 1 sentence rather than 5, by making clear and confident recommendations, by offering one solution rather than comparing two or three and asking them to choose, use stories and case studies to explain concepts and so on. Sometimes how you communicate is more important than what you communicate.

Complexity is easy because you don’t have to decide which information is important – just bury the client in information and let them decide. Complex problems don’t always require complex solutions. In fact, simple solutions are often the most effective. But achieving simplicity is nearly always challenging.

So remember to ask yourself “can I make this simpler” every time you communicate to a client. Less is often more.

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