Launching New Loan Products in 2022? How to Get the Word Out

Jason January 27, 2022 0 Comments

Launching new loan products is a great way to boost your bottom line this year. But to be successful, you’ve got to get the word out!

Over the years, many excellent loan products have underperformed simply because lenders failed to properly advertise them. If you want to avoid a similar fate, then it is vital to start spreading the news well ahead of the product launch.

In order to help, we have created this simple guide. By using the tips below, you can generate plenty of buzz about your latest offers, helping more borrowers to take advantage of your programs.

Launch a Social Media Campaign

While traditional digital advertising is still useful, social media marketing is all the rage these days. Marketing on social media platforms is especially useful for loan officers. After all, the mortgage industry is all about forging relationships with prospective borrowers.

As you’re planning your campaign, make sure that you don’t overstretch your resources. Instead, focus on one or two channels and develop a cohesive strategy. Your plan should involve a good mix of paid advertisements and organic traffic.

If your social media pages don’t have a large following, then you will need to rely a bit more heavily on paid ads. These ads can fill the gap while you work on earning more followers.

Take Advantage of Mailing Lists

With all of the hype around social media ad campaigns, some mortgage brokers end up neglecting their mailing lists. This is a huge mistake, as email marketing campaigns can actually produce great results.

Remember to keep messages short. Your subject line should grab the reader’s attention and encourage them to open the message. Don’t get too flashy, though, as this can cause your email to be sent right to the “spam” folder.

Make sure that you don’t send out messages too frequently. As you prepare to launch new loan products, limit your emails to about one a week. This will get the word out without annoying your target audience.

Host a Sweepstakes

Lucky tiny people turning raffle drum with tickets and winning prize gift boxes. Prize draw, online random draw, promotional marketing concept. Bright vibrant violet vector isolated illustration

As a mortgage broker, it is vital to building your following on social media. However, this process can take months or even years.

Fortunately, there is an easy way to jumpstart your efforts. All you need to do is host a contest.

To start, announce the contest that you are hosting on your social media pages. Within the post, lay out the conditions of the contest and clearly state what the prize will be. For instance, you can give the winner a $100 gift card to a popular restaurant or retail store.

In order to enter, require users to do things like follow your page, tag a friend, or share your post. This simple but effective tactic can help you increase your number of followers in a matter of days.

Marketing Made Easy with BNTouch

Are you at a loss when it comes to marketing your products or services? If so, BNTouch is here to help. Our innovative CRM platform offers a full suite of tools designed specifically for loan officers.

In addition to electronic document management and post-funding tools, our platform also includes over 170 e-marketing campaigns. These campaigns are a great way to increase your online exposure and acquire new leads.

The post Launching New Loan Products in 2022? How to Get the Word Out appeared first on .

AboutJason Richardson

Jason specializes in digital marketing strategies and founded a digital marketing agency Richardson Digital Media™. Richardson Digital Media™ has quickly become a preferred marketing provider for real estate companies and nationwide mortgage lenders. Jason has won 9 President’s Circle of Excellence Awards for loan production over his career and was most recently honored as one of National Mortgage Professional Magazine’s “40 Under 40: The 40 Most Influential Mortgage Professionals.”