This is true for any time in the business, but absolutely essential right now — loan officers need to stand out from the competition. I spend a great deal of time on differentiating myself through my marketing efforts and in the service I deliver. While have similar qualifications as other mortgage professionals in my area, I spend time understanding what it is exactly that sets me apart. That way, when a prospect asks “why should I choose you over all of my other choices?”, I have an immediate and convincing answer. Here are a few ideas for differentiating yourself from the competition:
Authentic Branding
Your brand often makes the first impression on prospects, so it needs to convey exactly what you want it to. It’s not just about creating something eye-catching. It’s equally important that it’s an authentic representation of who you are and how you do business. Particularly when it comes to first-time buyers, many of whom are from the millennial generation; and that generation favors working with real people over cold corporations. If you want your brand to be a true representation of you and your business, then start by looking at your values and ethics and how you can communicate those clearly. For instance, to show your commitment and connection to clients, you can share photos of yourself with clients at their closings. Your brand should communicate — with total authenticity —what matters to you, what type of service you deliver, and the things you prioritize. I wrote recently on some branding mistakes to avoid, and you can find that here.
Personalized Client Experience
The experience any of us deliver is the key to our clients’ satisfaction. Since every client is different, your approach needs to differ somewhat from client to client. I prioritize getting to know each client so that I can deliver the best service possible. Your clients are real people, and they don’t want to feel like a cog in a machine. Customizing the experience based on who they are shows them that you’re paying attention, and that you’re truly focused on their needs. This is also the very best way to impress every client and get them to want to tell everyone they know about you.
Finding a Niche
Establishing a niche market is another great way to stand out from your competitors. Rather than using general marketing efforts to reach the widest variety of prospects, you can center in on the unique interests, needs, and desires of a specific group, making your marketing all the more powerful. Niches can include anything from single-parent families to millennial buyers. Whichever niche you’re targeting, you can use your branding to highlight your specific expertise. This helps prospects feel confident that you’re the only choice for them to work with.
Getting (and staying) Connected
Networking, making connections, and building relationships are all essential strategies for loan officers. Let’s say a prospect has found you online. You’ve made the effort to stand out in your online branding and marketing, and you’ve made their list of top choices. Now, what will get them to choose you? If they happen to have a mutual connection with you, it can provide an extra level of trust that makes the decision clear. Take every opportunity to connect with new people and grow your network — online and in person.
If you want to be the clear choice for prospects, then creating an authentic brand, personalizing the client experience, finding a niche, and focusing on new and existing connections is the way to go.
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