The 9 Biggest Advertising Mistakes Of Mortgage Professionals
BATTLECALL GUEST EXPERT: Shawn Meldrum,
HighProfitMarketing.com
1. ME-TOOISM.
Blindly copying other mortgage company`s advertising. (On a foggy night, one
driver is thrilled to spot two glowing red tail-lights creeping along in front
of him. He decides to stick right behind those lights. All of a sudden the car
he`s following makes a turn and comes to a stop. Wham - he rear-ends the guy. He
jumps out, hotter than a pistol. `How could you do something as dumb as coming
to an abrupt stop in this fog?` he bellows. `Well,` the other guy says, `I
usually stop when I get into my garage.`)
2. HAVING NOTHING MUCH TO SAY.
Advertising is, at least in part, `news.` If you haven`t got anything new or
different to say, save your money. You need a library of proven ads.
3. LACK OF A `USP.` (Unique Selling Proposition)
I talk so darned much about USP, even I`m tired of hearing about it. But this
is the question that, if answered, means you`ll never have to worry about the
new client flow again: why should I, your prospective client, choose you vs. any
other mortgage professional?
4. SAYING IT ALL POORLY.
I guess the greatest mortgage marketing sin of all is being boring.
Advertising needs personality. Yours ought to have yours. That`s why standard,
fill-in-the-blank ads are a bad idea.
5. FEAR OF LONG COPY.
Forget all this nonsense about `white space.` It is COPY that sells. People
making important decisions will squint to get relevant information.
6. NO HEADLINE.
An ad has a headline. It`s that simple. A headline should telegraph the
promise of a positive benefit. Like this one, from the tabloids: LOSE
WEIGHT WHILE YOU* SLEEP. Or this: CORNS& GONE IN 5 DAYS OR YOUR MONEY BACK.
Sometimes a headline can ask a provocative question or make a startling
statement, to arouse curiosity. Like: ONLY HER HAIRDRESSER KNOWS FOR SURE. But,
the safest path is to telegraph a positive benefit.
The Headline is at least 50% of the battle.
7. NO OFFER.
Direct response mortgage advertising must extend a desirable "offer."
8. NO REASON TO ACT NOW.
9. INTELLECTUAL LAZINESS.
I`m spending a goodly part of my life trying to get mortgage professionals to
become `students of advertising.` It`s not hard. It`s not costly. Advertising`s
all around you. Look at it analytically. See and notice the often repeated
techniques. Pay attention!
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