As much as I hate to use the word secret in anything I write, I’m using it in this article because a large majority of the mortgage community seems to jump through all the hoops to get new customers, but then forget to incorporate this important step into their daily sales cycle.

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I’m talking about follow-up. When I say follow-up, I’m not referring to the process of returning phone calls and giving quotes to those who have asked for them. No, what I’m referencing here is the powerful form of constant contact to a group of individuals who have identified themselves as potential future clients, or consistent mailings to a target group of realtors etc.

Whether it’s your sphere of influence (SOI), a group of real estate agents, or even your database of happy clients, a consistent drip mail campaign has proven to be one of the missing links of most loan officer business plans. Why is this?

In short, many loan officers are so focused on the here and now, they forget that next month and even next year will soon be the here and now as well. We become so enraptured with trying to bring in business that can close today we don’t bother with marketing to our warmest group of clients.

What can a properly executed follow-up plan do for you? Well, statistics show that 10-12% of an average database will need to buy, sell, or refinance each year. Wow! Think about that for a moment. If you have a database of only 300 names, 30 or more of those individuals will need your services over a 12 month period.

How much extra commission would 30 extra closings earn you? What if you have a database of 500 names? Can you see how powerful this concept is? How much easier is it to market to a group of warm leads versus the marketing and advertising you do now?

A properly executed follow-up campaign is full of useful information as opposed to the blatant sales messages many of us have grown used to. A follow-up campaign is designed to provide this information over a 3-6 month period or more depending on what part of your database is being targeted.

For instance, if you are marketing to call capture leads (a great target by the way) then you need to be prepared for a 10-12 week marketing cycle that touches the client 1 time per week for 50-60% of the database, and have a 6-12 month campaign ready for the remaining portion that decides not to purchase for a while longer.

If you are marketing to a group of previous clients, then you need to have a long term marketing plan in place here as well, but the number of contacts is reduced to just once per month in this case.

Any time I discuss a program or method for increasing business, I like to review both the pros as well as the cons. The drawback of running a follow-up point such as this can be both the time invested as well as the cost.

The good news is that both of these drawbacks can be minimized, if not eliminated all together. If you are handling each and every contact yourself, then yes, the time spent on this sort of campaign can become quite overwhelming rather quickly. However, if you elect to handle most, or all of your follow up electronically, then not only do you eliminate the time needed to print fold and mail hundreds of letters and postcards each month, but you also eliminate the cost of postage as well.

A system known to many as ‘smart auto responders’ can automate the entire process for you so that your entire campaign can be entered just once, and put into motion with nothing more than the push of a button.

Of course you will want to begin asking for email addresses from each and every person you come in contact with. This can be a rather simple “oh by the way” process if your information holds true value as opposed to blatant sales literature. Perhaps you can offer an informative newsletter?

The key here is to get permission to send something. Sending information via email without asking for permission first will quickly get you labeled as a spammer.

Categories that work well with this type of campaign are:

• Financing tips
• Credit and credit repair
• How to negotiate when purchasing a home
• How to assure a smooth purchase process
• Can I really get into a home for 0 down?
• ARM vs. Fixed rate

Can you see the pattern here? These articles focus on providing valuable and usable information. We are helping the client without asking anything in return. Of course, you will want to create a strong call to action at the end of each article. Give the prospect a good enough reason to want to contact you. Perhaps you offer a free booklet that helps organize the buying process? Maybe a coupon for a discount on closing costs?

Get creative with your call to action, and rotate the offers from time to time. Be proactive and get started on designing your follow-up plan today. Follow these guidelines and watch your pipeline grow!

Copyright Chad Weber. All rights reserved. Carving out his niche as a Loan Officer, Chad Weber developed a fool-proof system that guaranteed referral business from real estate agents. It became the foundation for “Average Joe L.O.” which provides hype-free marketing products for loan officers who target real estate agents. If this is your target, visit AverageJoeLO.com today to take advantage of additional free training materials.