He explains why brand-based marketing doesn’t work for small businesses
Promotional Feature
When it comes to generating leads, most advisers venture down the path of traditional corporate-style marketing – which puts your business name, logo and brand front and centre. But according to Broker Profits Vault founder James Veigli, this type of marketing is largely ineffective for small businesses.
Veigli says advisers should be emphasising their “unique offer” rather than their brand and utilising Emotional Direct Response marketing – something that compels prospects to take immediate action and contact you.
“The problem is that most mortgage advisers have very generic brand-based marketing strategies, where there’s generally no point of difference, which is why their marketing doesn’t work” Veigli explained.
“To get marketing that works, you need to be unique, valuable and desirable, and you need to have a solid offer of something people want. The message needs to be phrased in a way that compels people to take action, and then you need a strategy to take that message and spread it in as many places as possible.”
“The idea of brand-based marketing is that prospects see that brand every day for many months or years,” he added. “So unless you have millions of dollars in your pocket, brand-based marketing is a long and costly game that doesn’t work for small businesses.”
Veigli says advisers should also be embracing the use of ‘2-step’ marketing – which targets the 90% of the market which may not be ready to buy a home or refinance immediately, but may be at some stage in the future. He says standard messages emphasising free appointments, phone calls or ‘health checks’ only target those who are ready to act now, which is only 10% of the market.
“2-step marketing is geared towards people who might be interested, but aren’t quite ready yet,” he explained.
“Say you’re going to buy a property, but you won’t be ready for six months – in this scenario you’re not ready to get a loan, but you are wanting information on what you need to do. You might be interested in a free report, or video or seminar that teaches you how to buy property. Now, with this in mind, if a prospect isn’t ready you wouldn’t ask them to come in for an appointment immediately, would you? Instead you should exchange information for their contact info and keep in touch over time, so when they are ready you are top of mind.”
“In the property and mortgage space, we know that most people don’t make a buying decision for anywhere up to twelve months. Therefore, it’s super valuable to build that database of people who will be ready at a later stage, and who already see you as their trusted adviser,” he explained.
“If you only ever target the people who are ready to act immediately, you’re missing out on 90% of the leads out there.”
James Veigli is offering to help NZ advisers by sharing his 3-step marketing and lead generation system, that creates expert positioning, secures active referral partners and produces simple marketing messages that work. He has put together a special presentation that outlines the system – which is available online until the end of August. To access the presentation and learn these marketing secrets – click here.
