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Tyler Stone is the founder and president of Capstone
Financial, which specializes in privately funded loans for
commercial and fix-and-flip investment properties. A
national direct lender launched in 2010, Capstone has
simplified underwriting processes for first-lien position
investment and bridge financing. Programs range from
streamlined fix-and-flip rehab loans to one-off funding
for “makes sense” deals. Reach Stone at (480) 336-2828,
ext. 107, or email@example.com.
Could there be a more ambiguous term than marketing? What exactly is marketing? Digital marketing, pay per click, Craigslist, door flyers, newspapers, billboards —
the list goes on. How about wearing a company shirt
while volunteering at your kid’s school? Which of
these is marketing?
The answer is all of the above. Each of them represent
paid or nonpaid forms of marketing exposure.
All of us in the commercial financing industry are
constantly bombarded by solicitations offering to
create new designs for our websites, sell us leads and
provide outbound calling, for example. Faced with all
these choices, how can we make sure we’re making
smart marketing decisions?
Breaking it down
The role of a mortgage originator requires sales skills. So
why does a salesperson also need to focus on marketing and a marketing plan? One of the most succinct
statements about marketing as it relates to sales is as
follows: “Marketing creates leads and sales closes them.”
That means marketing and sales are like two sides
of the same coin. With that in mind, let’s break down
the marketing side of the coin to get a better feel for
how it works, which should allow you, as a commercial
mortgage broker, to better coordinate your marketing
efforts with your sales mission.
■ ■ Paid advertising: This is anything that costs
money directly and includes a lot of different things,
ranging from pay-per-click online promotions, newspaper ads, billboards and more. Generally, if you pay
for the advertising, then it’s paid advertising.
■ ■ Cause marketing: This type of marketing is when
your services or products are linked with a “cause.”
Doing volunteer work while wearing a company
shirt or hat is a good example of cause marketing. It
also could take the form of a fundraising campaign
for a local charity to raise awareness for that particular
cause as well your own business.
■ ■ Relationship marketing: This is the “trusted
adviser” type of marketing. Focusing on building
customer relationships, customer loyalty and referral
loyalty can reap huge benefits.
■ ■ Undercover marketing: Commonly referred to
as “stealth marketing,” this is understated and
attempts to fly under the radar, to the point where
the target customers are normally not even aware it
is happening. Donating bottled water with custom
company labels to a community event would be a
good example of undercover marketing.
■ ■ Word of mouth: A major part of this marketing
approach is aimed at cultivating referrals. This
strategy is commonly used to increase a salesperson’s
“sphere of influence” through building relationships
and then actively working that base for referrals. This
type of marketing relies heavily on the impression
you leave on people as well as the level of customer
service they perceive.
■ ■ Internet marketing: This can be paid advertising,
as in pay-per-click Google or Bing ad campaigns, or
it can be unpaid, such as using Facebook, LinkedIn
or another free social media platform to promote a
product or service. Remember, Facebook and other
social media platforms also offer paid advertising
opportunities that can be combined with free posts
to amplify a message.
What Type of Marketer Are You?
There are many ways to promote your business,
but each of them invite a sales opportunity
By Tyler Stone