What Are the Top 5 Database Marketing Mistakes Mortgage Brokers Make?

Today we are joined by Ryan Wiley, a broker based in Toronto and CEO of TheVIPClub.io. Ryan will be bringing us through the 5 mistakes brokers make when marketing to their database and the 3 things you can do to bring in a lead within 24 hours.

[2:53] Can you tell us about yourself?

I’ve been a broker for approximately 12 years.
7 or 8 years ago, my business plateaued, and I realized I wasn’t spending enough time or energy on my database.
I connected with Scott, who owned The VIP Club at the time, and the business grew 40% year over year.
I purchased The VIP Club around a year ago and realized my passion for marketing.

[4:06] How many emails do you send out a month?

Between 80,000 and 90,000. It’s always growing.
I created a fake email address and joined 100 brokers’ lists to learn about the competition.

[5:25] Let’s go through the 5 mistakes brokers make when marketing to their database. What is the first mistake you see?

Not having a list/database.
Not updating or being consistent with their lists.
There are simple steps you can take to automate the process.

[7:30] What’s the second mistake?

Constantly marketing about interest rates.
If you are hitting people over the head with rates, what’s the first conversation they are going to want to have?
It confuses them when you try and explain rates aren’t the most important thing.
It sets you up for future failure and comes across as inauthentic.

[10:13] What’s the third mistake?

Not having calls to action.
Putting information out there with no engagement.
It’s as simple as putting a calendar link in an email or asking a question.
It’s about creating connection.

[12:38] What’s the fourth mistake?

Not connecting with clients.
Making it all about you and your business. It should be about what you can do for them.
It starts with a question. In The VIP Club, we do contests where you have to answer a question to win.
Choose strategic questions and look for opportunities in the responses.
You aren’t trying to reach your whole database, just a section that you can go deeper with.

[18:08] What is the fifth and final mistake you see brokers making?

Putting out generic content.
The content isn’t relevant or has no personality.
Sign up for other brokers’ lists and look at what they are putting out.

[20:30] What are the 3 things brokers can do to bring in a lead within 24 hours?

These things are simple and cost no money.
Ask those strategic questions. Try business related questions to start.
Currently, there are rate specials so let your list know there’s opportunity for them to save money. Put together a blurb and send it out. Put a call to action at the end.
Build a case study. Explain how you have helped a certain type of client out in the past. Send it out, explain it and give a call to action. It will resonate with some of your list.

[25:42] Any final thoughts?

These are simple things.
We can go into deeper strategies on another episode.
The energy you put into this can be repurposed in many different ways.

 

Contact Ryan here: https://thevipclub.io and [email protected]

Contact Scott here: [email protected]

If you’re interested in becoming a deal creator, visit https://www.10loansamonth.com/call/ to find out more.