Here is an email I received recently from a friend in the mortgage business.
Happy New Year Dan! Got your newsletter, thx. I have been trying to finalize my marketing plan for 2012 for the last 2 mos. Whatever is working will continue, however the ones I haven't tried are in the middle stage & this is my dilemna like social media & other stuff, how much I should spend all together for my marketing & what I should with based on what I truly believe. Quite confusing coz I have so many people saying I SHOULD do this or that. The real question is do I want to get busy tracking all this marketing ideas or focus on processing mortgage application. I only have 24 hrs. I want to increase my revenue but do not want to get swallowed by my business......what do I do? Gracias:)
Here is my reply...
It's nice to hear from you. Happy New Year!
Based on what I read in your email and our work together in the past you've discovered the very thing that will make you successful. It also sounds like you're getting some conflicting advice from a number of different sources.I feel that too many marketing experts recommend too many things and that often ends up with nothing being done or everything being done but not consistently or well.
I don't know what you're spending in dollars or time on your marketing or how much of each commission you put into your marketing budget. Setting your marketing budget will help you decide which marketing activities bring you the biggest return on your investment based on the amount of money available to spend.
The best advice I can give you is to look at what has worked for you so far. Asking yourself the following questions may help;
What has generated the best quality leads with the highest number of closings?
What has generated the most number of leads?
What are you doing to follow up on the leads you generate?
What are you doing to stay in touch with past clients?
What are you doing to stay in touch with your referral sources?
I try to keep things simple. I use my website and my newsletter to generate business and to follow up with people. I'm working with a small budget but my business is growing.
If the workload of managing and doing your marketing is overwhelming consider outsourcing the work. It does mean a monthly cost increase but the return is the ability to focus on completing applications and closing mortgages. Closing more mortgages will mean earning more money.