Mortgage marketing is an incredibly niche space and not the priority focus for most loan officers and loan officer assistants. Their focus is on engaging borrowers, deepening relationships, and closing loans. That doesn’t mean they don’t appreciate the value of consistent marketing and building brand awareness, it’s that they can only do so much while navigating the ever-changing trends and challenges in the market. For the past few years, rising interest rates have been the biggest hurdle. But with the Fed announcing three scheduled rate drops throughout 2024, marketing messages and strategies must shift completely. That’s a big undertaking even for marketing-savvy loan officers and larger teams to deal with.
One thing that never changes for loan officers and their teams is their ultimate goal: to generate new business and close loans. There’s no right or wrong way to reach that goal, but having an experienced team of marketers on your side can help you find the best path for your business.
We sat down with our partners Pierson Hibbs and Liz Hall, co-founders of A Marketing Agency (“AMA”), to talk about both the evolving challenges and untapped opportunities loan officers are facing in today’s complex market.
What are the key challenges you see loan officers facing in today’s market?
Right now, it’s finding new ways to grow their business while fighting off the still-high interest rates and preparing for the wave of new purchases and refis once rates come down. Additionally, many loan officers face a “barrier to entry” in marketing because they don’t have the time, energy, or understanding of which tactics will yield results. They’re experts in the mortgage and real estate world, so it’s up to us to help them market that expertise.
How do shifts in the market create new challenges in mortgage marketing?
With the market’s volatility over the last two years, it’s like trying to build a house while the ground is shifting beneath you. Building relationships with borrowers is already challenging enough with the amount of competition in the industry, but you also have variables outside your control (such as high interest rates) that make it difficult to generate momentum. As the market looks to shift again in 2024, loan officers will have to strike a balance between continuing their current conversations and marketing to a new batch of borrowers who have been waiting for interest rates to fall.
What are the key tactics you see working to maximize efforts and avoid problems when expanding?
Delegation and deliberate movement are two of the most important ways to avoid growing pains when expanding. We all set lofty goals and try to accomplish more than we have the bandwidth to achieve on our own. Finding the right balance between what you can accomplish and when to bring in help is paramount to the success of any business. You don’t have to know how to do it all; you just have to know when to bring in the right people to help you accomplish your goals!
Taking the time to map out where you want to go, taking realistic steps to get there, and having a feasible timeline all work to ensure your efforts are deliberate. If you take a deliberate step in the right direction every day, you’ll be amazed by how much progress you’ll have made a year from now!
What are clients looking for that AMA and Total Expert offer together?
Our clients seek cutting-edge mortgage marketing solutions that work for them while loan officers and loan officer assistants do what they do best. Total Expert provides an intelligent automation engine that’s purpose-built to help modern financial institutions increase ROI, drive new growth, and develop lifelong customer relationships. AMA’s mission is to help institutions maximize their use of Total Expert, working to ensure that they meet their ROI and drive more loans to their loan officers through Total Expert. Our goal is to ensure the complete utilization of Total Expert’s marketing capabilities by all end users.
What does an ideal client look like for AMA and Total Expert?
AMA’s ideal client would be an institution that has either already implemented Total Expert but needs a captain to steer the ship or is about to enter the implementation process with Total Expert.
We’ve helped several clients increase engagement and conversions by maximizing how they’re using the Total Expert platform. But we can help clients realize those benefits from the very beginning by acting as their “experts in Total Expert” to guide them through integrating Total Expert into their existing tech stack. AMA is here to help with anything related to Total Expert on an application/best-practice basis!
What differentiates AMA from other options in the market?
AMA aims to redefine mortgage marketing, delivering innovative and tailored solutions that empower corporate mortgage lenders to thrive in today’s competitive landscape. We specialize in crafting dynamic strategies and comprehensive services designed to elevate an institution’s brand, engage its audience, and drive unparalleled results. Our sole focus is supporting Total Expert customers. We don’t service any other customer engagement platforms because we believe Total Expert is the premier mortgage marketing solution. With roots in the mortgage industry, we don’t just know marketing; we understand what it takes to thrive as a loan officer. We’ve been marketing for loan officers for almost a decade and love this industry. Rather than turning to an FTE or another CRM Management Firm, we know Total Expert inside and out and are here to grow with you. AMA operates on a per-project basis, allowing us to accomplish far more per cost than a traditional admin. Everything we do has been meticulously crafted to fit seamlessly into an institution’s ecosystem. If you’re looking for third-party support relating to Total Expert, give us a call!
