Sphere Of Influence Marketing

What an interesting topic. At Exodus, our focus is on Sphere-of-influence marketing exclusively. While there are plenty of "marketing concepts" to study in the arena of marketing as a whole, not all of them work for the mortgage industry.

There are several reasons for this but most importantly, a home purchase is such a huge decision that people don't typically go to the phone book or a newspaper because they "need" a loan. They always start with people they trust. If they know you, they should call you right? Quick, what's the name of your plumber? No idea right? Well this is where the search begins, and shortly there after it ends.

This is why you need to be doing direct marketing with a newsletter. This not only happens to your clients, but it happens to their friends and family members, cousins, uncles, brothers, sisters, in-laws, associates and the list goes on and on.

Sphere of influence Marketing

The reason we focus on sphere of influence - newsletter marketing is simple. But let's answer some questions and define some terms first. What is sphere of influence marketing or more important, what is your sphere of influence? If you were to sit down with let's say the yellow pages, look at as many popular industries and even some unpopular ones in alphabetical order, write down the names of everyone you know, inspired by this diverse list of industries. People you've met or have spoken with, done business with, (they don't all have to be folks you'd invite to your wedding or for that matter be invited to your funeral) people you've have been neighbors to, children's parents, simply people you know and that know you. Then grabbed the white pages and just went through the most popular names, and wrote those names down also, again people you know that know you. We've only used the Yellow and White pages so our fingers could do some walking. What you'd find is that you have a list of about 200 to 250 people. Think about how that list looks and let's look at this as your sphere of influence. It's true that not all of them are going to need a loan, a refi, a home purchase, need to sell etc. all at once, but the thing to consider is that this small sphere of influence represents people YOU KNOW, that presumably know who you are. The exciting thing about this small list of people is that these numbers aren't only pretty precise but they are numbers that hold true for everyone on the list. Each person knows about 200 to 250 people. Simply put if you provide good information, share yourself, share your knowledge, and make yourself a part of the family, you are a solid member of the sphere. When it comes to mortgage or real estate, you are the expert at the center of many peoples sphere. The fact is, people do business with those they know, like and trust! And because more often than not, everyone wants to be the "hero" if someone in their sphere has a need, and you have the solution, it's more than a pretty good bet that you'll be the one who get's referred, however the big problem is that the network breaks down with the abscence of the key ingredient of the sphere of influence power but more on that later. Your sphere of influence includes not only your 200 to 250 people but each person in your sphere knows just about as many people. If they trust you, and people trust them you should be their finance expert or real estate expert. There should never be any question on who they need to call.

Newsletters are by far the best platform to keep you in front of your client base and covers all areas of Mortgage and Real Estate marketing using one simple print piece.

It's important to note that the idea of a simple print piece isn't to be mistaken for a flyer, or a post card. Believe it when we tell you, if post cards or flyers worked as well as a newsletter, we'd just as soon produce and sell those, but they don't work as well so we don't produce nor sell them. There is a time for a post card, but send your clients a post card every month and they'll think that you are not only a cheapskate, but that you are also without value and here's why...

You probably don't need to be told how complex the mortgage industry can be, and telling your past clients that the rates are historically low every month doesn't really offer much value. The idea of newsletter marketing is that you share with your clients a little of yourself, your knowledge, and guarantee that you are part of the family. Can't do that with a post card, a calander, or a flyer now can you? Professionals give value, salepeople give postcards and calendars. It really is that simple.

For a primer on marketing and some things you really need to understand, here's a quick link to a 3 part series on mortgage marketing truths and what you need to know.

For a successful marketing strategy, a direct marketing component is not only necessary but paramount! With all the other areas of marketing available today, none maintain loyalty like newsletter marketing so whether it's a mortgage marketing campaign or a real estate marketing strategy that you're looking for, Exodus Marketing Group has been doing this with a higher success rate than anyone in the mortgage and real estate marketing industry. Give is a call today!