Loan Officer Marketing - The Power of Positioning

How do you build a marketing strategy that can have real estate agents hunting for your services? Realtors® are bombarded everyday with a continuous stream of marketing messages from loan officers. They cope with this information-overload by ignoring most of them. So how do you stand out in an over-communicated environment? You'll change the dynamics of your marketing when you understand the importance of positioning. Positioning is a communication tool to reach agents in a crowded marketplace.

Positioning means, you position your services in the prospect's mind

A position is a place, a place in the mind of the prospect ? a perceptual location. When you market your services, you're competing for this space. If your position is similar in nature to your competitor's, you're competing in an overcrowded place in the prospect's mind.

Take a moment and consider your current position. Look at your communication pieces, which is commonly how agents position your services in their mind, if it's their primary exposure to your business. Your website, flyers, postcards, newsletters, brochures, advertisements, and business card are often the first communication an agent comes across regarding your services. What position are you communicating?

Not sure? Visit your competitor's website, if you switched your company logo with their company logo, how much difference would there actually be in the content or message? For most mortgage companies the answer is simple?very little.

Positioning means, a simple and singular message

To improve your position, you need to narrow your focus. A position that seeks to be everything to everyone will end up being nothing to everyone. For example, does your messages appeal with the promises' of loans closing on time, rendering superior service, high approval rates, etc.? This position doesn't work. First, it's competing with too many others; secondly, it isn't simple and doesn't focus on a single thing.

Look at examples in other service industries to understand the power of a narrow focus. When Federal Express began, they focused on a single position, a position that hadn't been dominated by other shippers yet. They communicated a single position through every medium ? "When it absolutely, positively has to be there overnight." This intense focus helped them build a brand identity that associated them with being the best at overnight shipping. And when people had packages that had to be delivered overnight and they weren't going to risk their decision - they chose Federal Express.

Southwest Airlines is another example. Their position of the "low-fare, no frills airline," helped them dominate and achieve prosperity in one of the toughest and most competitive service industries. They went as far as linking the image of peanuts to their brand identity to associate with the position of low cost. This connected successfully with budget conscious travelers.

Positioning means, setting yourself apart from competitors

Since most loan officers have positioned themselves identical, realtors see them as all the same. Mortgage services are indistinguishable. So how do you separate yourself?

The more similar the mortgage services, the more important the details. When realtors have to select a loan officer, they look for differences upon which to base their decision. This means the more identical mortgage services are, the more important each difference becomes. For you to separate yourself, accentuate the trivial.

For years, Domino's never stressed quality, price or value. Instead they relentlessly promoted, "Delivered in 30 minutes, or it's on us." Over the time of this campaign, they owned the position of speed. Consumers' perceived Domino's as fast and reliable.

Find a niche that is unoccupied in the realtor's mind and fill it first. There are numerous opportunities to specialize your services and occupy niches.

You can position around unique products:

Jumbo Loan expert
HUD expert
Interest Only Specialist

You can position around trivial details of processes:

Loans closed 5 days ahead of COE
Loan approvals within an hour or less
Daily file update alerts for realtors

You can position around gender, ethnicity, or geography:

Specialized in exclusively serving single professionals
Specialized in exclusively serving the Hispanic community
Specialized in exclusively serving Town & Country Ranch

Positioning is your competitive strategy for getting noticed. It is an outward expression of how you want to be perceived. It allows you to create a place for your services in an Agent's mind, where the competition isn't.

Jeff Nelson helps mortgage companies and individual loan officers increase loan originations by developing customized relationship-building strategies that secure quality relationships with real estate agents. Click here to get a free copy of the Marketing Planning Guide, a 20-page workbook designed to help you outline a strategy to becoming an Agent Magnet.

Visit us at http://www.loan-officer-marketing.com

---

Google News Updated : Mon, 13 Oct 2008 11:51:33 GMT Dodgers stand up to Phillies in Game 3 win - FOXSports.com Washington Post Dodgers stand up to Phillies in Game 3 win FOXSports.com - 4 hours ago by Ken Rosenthal Ken Rosenthal has been the senior baseball writer for FOXSports.com since Aug. 2005. He appears weekly on the FSN Baseball Report and MLB on FOX. LA revitalized at Moyer's expense MLB.com Kuroda's pitch serves its purpose for Dodgers USA Today New York Times - Los Angeles Times - Boston Globe - Philadelphia Daily News all 2,467 news articles Publ.Date : Mon, 13 Oct 2008 07:00:36 GMT UK government takes stake in three banks - CNN International Canada.com UK government takes stake in three banks CNN International - 32 minutes ago LONDON, England (CNN) -- The British government on Monday said it would make a multi-billion investment in three of the country's major banks to help them through the "first financial crisis of the global age. In quotes: Bank bail-out reaction BBC News TEXT-Lloyds TSB terms for acquisition of HBOS Reuters guardian.co.uk - Wall Street Journal - Bloomberg - AFP all 1,923 news articles Publ.Date : Mon, 13 Oct 2008 11:18:47 GMT 1.5 million G1 Android phones pre-ordered - TG Daily Product Reviews 1.5 million G1 Android phones pre-ordered TG Daily - 6 hours ago By Wolfgang Gruener Chicago (IL) - T-Mobile’s upcoming G1 may not be the best-looking iPhone rival, it may not have the most complete feature set and T-Mobile may have undersold the device at the recent launch event. Get ready for next-gen mobile InfoWorld HTC G1 Android Phone Racks up 1.5 Million Pre-orders eFluxMedia Brighthand - InformationWeek - ReadWriteWeb - ZDNet all 153 news articles Publ.Date : Mon, 13 Oct 2008 05:21:21 GMT Manatee dies before reaching rehab site - Boston Globe WHDH-TV Manatee dies before reaching rehab site Boston Globe - 4 hours ago By Emily Canal After a 27-hour trip to Florida, Dennis the manatee, rescued from the frigid waters of Cape Cod, died in Orlando yesterday as SeaWorld employees carted the mammal to a rehabilitation center. Video: Rescued Manatee Dies After Mass. Rescue AssociatedPress Manatee rescued off Cape Cod dies en route to Florida Sea World New York Daily News WFLA - eFluxMedia - Cape Cod Times - South Coast Today all 565 news articles Publ.Date : Mon, 13 Oct 2008 07:21:21 GMT European, Asian markets bounce back - The Associated Press Vancouver Sun European, Asian markets bounce back The Associated Press - 1 hour ago LONDON (AP) - European markets opened strongly Monday following Asia's lead in response to the widespread government efforts over the weekend to shore up the world's troubled financial system. The financial crisis A light at the end of the tunnel? Economist World stock markets welcome European bank rescue AFP MSN Money - New York Times - New Straits Times - Voice of America all 769 news articles Publ.Date : Mon, 13 Oct 2008 10:23:04 GMT Fantastic finishes: 5 NFL games down to the wire - Washington Post Washington Post Fantastic finishes: 5 NFL games down to the wire Washington Post - 3 hours ago Dallas Cowboys' Mat McBriar (1) has his punt blocked by Arizona Cardinals' Sean Morey as Monty Beisel (52) looks on during overtime of an NFL football game Sunday, Oct. 12, 2008 in Glendale, Ariz. Blocked punt downs Dallas San Francisco Chronicle Backups Burst Through Line and Lift Cardinals in Overtime New York Times Sports Network - FOXSports.com - Houston Chronicle - Philadelphia Inquirer all 749 news articles Publ.Date : Mon, 13 Oct 2008 08:15:50 GMT Forecast: Summery Sunshine Sticks Around - Washington Post Chicagoist Forecast: Summery Sunshine Sticks Around Washington Post - 2 hours ago Columbus Day will feel a lot more like Labor Day as temperatures climb to around 80 degrees. This unseasonably warm weather will continue for the next several days. Enjoy a warm, sunny Columbus Day Times Herald-Record Beautiful start to the work week The Star-Ledger - NJ.com The Capital Times - Journal and Courier - Richmond Times Dispatch - The Virginian-Pilot all 241 news articles Publ.Date : Mon, 13 Oct 2008 09:03:26 GMT Make Money Online RSS For Web Pages

PARLOT::Ebooks, Scripts, Websites, and more...

Adsense websites

See What Your Home is Worth

If you thought your home is worth nothing except for... Read More

Benefits of a Business Loan

There are many benefits in choosing a business loan, some... Read More

Shopping for a Personal Loan

Most Internet users are now extremely comfortable using the Internet... Read More

Finding the Bad Credit Personal Loans that You Need

It can seem impossible at times to get bad credit... Read More

What You Should Know About Home Equity Loans

A home equity loan is essentially a type of second... Read More

A Beginners Guide to Online Loans

If you're just beginning to look at online loans, you... Read More

Bad is the Opposite of Good... Is It? Not with Bad Debt Personal Loans

'Bad' means 'bad' no matter where you go! It is... Read More

SBA Loan: Qualifying and Applying

According to federal government research, small businesses provide about 75%... Read More

Personal Loans - To Make A Personalized Financial Agenda

The phrase 'tailor-made' ought to be made for personal loans.... Read More

Military Payday Loans ? When?s The Best Time To Avail Of These?

What are the opportune times to avail of military payday... Read More

Are You In The Market For a Car Loan?

Car loans are a tempting way to purchase a new... Read More

Secured Car Loan - if Car Signifies a Second Home to You

Cars ? they are your passion, necessity, luxury, earning member.... Read More

Military Payday Loans

What is a payday loan? This is a small short-term... Read More

Free Money Saving Auto and Home Loan Tips

Free Auto Loan TipsThe following tips should help increase your... Read More

A General Discussion about Unsecured Personal Loans in the UK Financial Market

Personal loans are offered by lenders such as banks and... Read More

Your Home Can Act As Carriage For Car Loans; Do You Know The Term For That? Secured Car Loans

Since the invention of the first self propelled car by... Read More

Business Loans: If You Know How To Make Good Use Of Money And Expertise

Are their rewards of being your own boss? Yes, in... Read More

Used Car Loans - 3 Tips For Financing Your Used Vehicle Online

Financing the purchase of a used vehicle can be done... Read More

Holiday Loans Can Expand The Horizon Of What You See

Why do kids get all the breaks? Winter-weary adults, fed... Read More

A Personal Loan And Your Rights

You can use a personal loan for many different things... Read More

A Renter in Debt? Take Out a Bad Credit Personal Loan

On average, homeowner households earn 95% more than renting households... Read More

A Brief Look at the Origins of Lending

When trying to discover the origins of lending you might... Read More

Finding and Getting Bad Credit Loans

If you don't know where to turn for bad credit... Read More

Personal Loans for Unemployed ? Liberating You from the Tangles of Unemployment

Like most of the contingencies (the after effects of unemployment... Read More

Payday Loans: How They Really Work!

Payday loan companies gives the borrower the amount of the... Read More