After a period of “peak demand” for mortgage broking services, many brokers are now looking to fire up their growth engines to attract more new business.
If marketing is on your radar, you might be wondering, “Where do I start? And how should I focus my efforts to ensure the biggest bang-for-buck?”
That’s where the Mortgage Broker Marketing Scorecard™ comes in.
It’s a simple tool to help you identify, prioritise, and focus on the most impactful growth initiatives in your practice.
Step 2: Watch A Quick Explainer on How To Use The Scorecard
The beauty of this Scorecard lies in its structure: 7 Key Strategic Areas, each broken into 3 Actionable Growth Levers.
That gives you 21 distinct ways to steer your practice towards success.
Each lever has been vetted for its effectiveness, and together, they promise a comprehensive strategy for growth.
Let’s dive into which areas the Scorecard covers and what success looks like in each area…
7 Key Areas of Mortgage Broker Marketing Success
Key Area #1: Set Your Strategy
🔑 Articulate Your Value Proposition
What Success Looks Like: You have articulated a crystal clear Unique Value Proposition that is displayed prominently in all your client facing materials and understood by every member of your practice.
🚪 Strategise Premium Content
What Success Looks Like: You have effective premium content offers that generate a steady and consistent flow of new email subscribers and qualified leads or clients each and every week.
🔨 Build Your Execution Plan
What Success Looks Like: You are consistently creating monthly or quarterly marketing and sales plans including an integrated menu of tactics and strategies for execution.
Key Area #2: Drive Traffic
🚀 Drive Free Traffic
What Success Looks Like: You are executing consistent content marketing, publishing, link-building and other SEO strategies that drive a solid volume of traffic and new client enquiries every month.
💰 Invest in Paid Traffic
What Success Looks Like: Paid traffic is a key pillar of your growth strategy, generating consistent leads and clients every week on a cost-effective basis.
📱 Leverage Social Media
What Success Looks Like: You are a social media machine, with a well-organised program of content publishing, curation and interaction with fans, prospects and clients.
Key Area #3: Convert Traffic
🎨 Deploy Design That Converts
What Success Looks Like: You are proud to own a cutting-edge, response-oriented website that is designed from the ground up for credibility, usability and maximum response.
📝 Use Direct Response Copy
What Success Looks Like: You are deploying psychologically compelling direct-response copy that consistently drives an enthusiastic response.
💡 Harness Principles of Persuasion
What Success Looks Like: You are a persuasion Jedi, deploying a wide-cross section of persuasion principles in your client communications (and always adding more, such as more testimonials).
Key Area #4: Nurture Leads
💌 Nurture Your Email List
What Success Looks Like: Growing a responsive email list and regularly sending out valuable and informative content and offers is an ingrained part of your marketing strategy.
🌐 Work Your Marketing Funnel
What Success Looks Like: You are continuously executing a segmented marketing and communications strategy, featuring specific content and messaging designed to compel action.
🎯 Retarget Your Funnel
What Success Looks Like: You are using multi-step retargeting as a regular component of your marketing mix, designed to ascend prospects to the next step in your client journey.
Key Area #5: Create Clients
📈 Manage Leads Effectively
What Success Looks Like: You call every lead within 5 minutes during business hours, and consistently make 6 contact attempts via a variety of mediums before you declare a lead “uncontactable”.
🔍 Refine Your Sales Process
What Success Looks Like: You’re highly effective at engaging clients in a formal, documented and managed sales process that delivers a high conversion rate and decisive action from prospects.
🔧 Optimise Your Business Model
What Success Looks Like: You proactively optimise every facet of your business model to ensure the optimal client experience, while delivering high profit margins and growth.
Key Area #6: Measure and Report
📊 Collect, Visualise & Analyse Data
What Success Looks Like: You regularly collect, analyse and visualise relevant quantitative and qualitative metrics as well as share results and trends with your team.
📈 Track Key Marketing Metrics
What Success Looks Like: You consistently review and report on Lead and Lag marketing metrics in order to benchmark and improve your marketing execution and results.
📊 Monitor Key Sales Metrics
What Success Looks Like: You consistently use a range of timely Lead and Lag sales metrics to track your progress and also guide specific priorities, priorities and improvement decisions to grow results.
Key Area #7: Review and Optimise
📋 Review Your Numbers
What Success Looks Like: You review all key metrics against goals at least every quarter, analyse the winners and losers, and celebrate the wins!
🔎 Pinpoint Growth Levers
What Success Looks Like: You consistently review your key numbers, pinpoint the biggest “bang-for-buck” growth levers, and act on them.
📅 Build Your Next Execution Plan
What Success Looks Like: You are achieving impressive traction and are always parlaying one execution plan into a bigger and more ambitious plan for the period ahead.
Got Your Score? Here’s What To Do Next…
Now that you know your strengths and weaknesses, it’s time to take action.
Jump on over to our “ULTIMATE Mortgage Broker Marketing Plan 2.0” for a comprehensive, proven and practical plan for growing your mortgage broking practice👇
We also recommend repeating this exercise every calendar quarter to track your progress and re-set priorities.
One final note: all this marketing is bound to grow your lead and deal flow to the point where you need a better workflow engine to manage it all… if you recognise I’m talking about you, click here to check out the latest BrokerEngine demo.