Question

Topic: Advertising/PR

New Mortgage Customers - How Do I Bring Them In?

Posted by kquam on 11/20/2008 at 12:22 PM ET 250 Points
Hi - I work for a small community bank. Our mortgage home loan products are pretty typical in our community: fixed and adjustable rate mortgages. With the economy and housing market the way it currently is, we are fighting for each and every mortgage out there.

Any suggestions on how to bring in people that might be looking to switch financials or new home buyers? I am fresh out of ideas at this point.

Our typical medium that works for this area is radio. Currently running testimonial ads. Our area is between three major markets so TV is not a viable option, print is non exisent.

Any help is appreciated.
Thanks!
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RESPONSES

  • Posted by kquam on 11/20/2008 at 3:10 PM Author
    Thanks Phil :)

    Our number one referral base is our current customers. Thankfully our service is our biggest selling point. We are still trying to find ways to reach those non customers who see the personalized service advertising as a 'selling point' and not fact.
  • Posted by Jay Hamilton-Roth on 11/20/2008 at 3:33 PM Accepted
    Why not use testimonials from your customers (using their voice)?
  • Posted by kquam on 11/20/2008 at 3:44 PM Author
    Thanks Jay - we are currently running radio testimonials from current customers about the personalized service and attention they got with their mortgage.
  • Posted by MarketGoGo on 11/20/2008 at 4:16 PM Accepted
    Hit the web. Can you afford to do some geo-targetting?

    I'd hazard to guess that people that are looking for mortgages look at the web first comparing products before they pick up the phone.

    (Could you make a "No Repo Guarantee"?)
  • Posted on 11/21/2008 at 10:07 PM Accepted
    There are usually three people a potential home buyer will need to see: a real estate agent, a solicitor and a bank.

    How about doing some PR work with local real estate agents and solicitors to have them become referers to your bank?
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