The Marketing Tool No Mortgage Company Uses Properly

From: Ameen Kamadia

Dear Friend,

The Marketing Tool No Mortgage Company Uses Properly

Pretty bold claim, isn’t it?

What I am about to tell you is not rocket science, but that doesn’t mean that you use this tool properly. In fact, most companies, not just those in the mortgage business, DO NOT use this tool properly.

Let me tell you what I am talking about:

You can convert more potential clients by talking less and showing more.

Showing more testimonials.

Prospects are 5 times more likely to believe something someone else says about you than what you say about yourself. So, let them know what your satisfied clients say.

Create a testimonial folder or album with pictures and letters of all your past clients. The more the better. This works wonders when a prospect is undecided about working with you. How many clients have you worked with in the past? You should have asked them all for referrals. But how many of them did you ask a testimonial from?

A testimonial is a comment regarding your service.

Example: “I loved working with XYZ Mortgage. They made the process of getting a loan so easy and fun that I want to refinance with them right now, just to do it again.”
Marge Simpson, Springfield

Now imagine, you get a list of all of Marge’s friends and send them a letter. And in the letter include what Marge said about you.

Can you see how powerful this is? These people get a letter from a mortgage company and their own friend is saying how great they are.

Ask all your clients to write or say something about you and your service so that you can use it in your marketing. Just call them up and ask. There is no shame in it. Every product you see advertised on TV or the radio uses testimonials. And almost none of them are unsolicited, meaning the people felt so good about the product they wrote a letter without being asked to.

Testimonials are not that easy to get. You cannot sit around waiting for them. I have asked people how they liked my service many times. They all say it was wonderful, great, etc. But when I ask them to write that down and send it to me so I can use it, guess what happens? NOTHING!

They never send it in.

So what I do is ask them how everything was. If they could describe the experience in one sentence what would it be? And then I ask if I can use that in my marketing. They always say yes.

Then I write it up, and mail it to them to sign and return verifying that they said it. This technique works much better.

Then once you get them, use testimonials in all your marketing. Believe me it works.

Just look at all the late night infomercials. They are hard to believe and make extravagant claims, but they sell a lot of product, mainly because of the testimonials. One marketer was explaining about how he increased sales on a product in an infomercial. It was 30 minutes long and had several testimonials. All they did was double the number of testimonials, and it doubled the orders!

If you can, make them visible.

What kind of impression would it make on a couple coming to you to get a loan when they walk into your office and see dozens of pictures on the wall of you and other couples whom you have helped, smiling while standing in front of their new homes?

They sure wouldn’t ask you if you are new in the business, that’s for certain.

You can use testimonials to overcome other objections as well. We all get people who think they can get a better rate somewhere else, but what if you showed them a testimonial or two from people who came to you, thought they could get a better rate elsewhere, and then got ripped off and had to come back to you?

Like I said before, nobody uses this tool, and it’s a shame. I hope you start today.

Happy Originating!




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I have been using this for over 10 years. It does work.

Posted by Jo Ann Florey on 12/27/2007 12:09:29

I have a wall at the entrance of my office right were my assistant sits and I have framed, instead of trophys 16 testimonials "My most valuable possesions" and on the top of a coffee table there is an open binder with about 100 testimonials for people to glance while waiting for me, of course I always let them stay in that area for about 5 minutes before I greet them. Powerful stuff

Posted by Romano on 01/28/2008 18:21:50

Thank you for that advice. I have been told this many times but have never put it to use. I will try today and see what happens. I need all the help I can get in this market.

Posted by Jandi Lynn Kulaga on 04/01/2008 09:23:13