Modern mortgage businesses can’t ignore the importance of branding and marketing. In today’s competitive market, it is essential to have a strong brand identity to attract clients and stand out from the competition. In his opinion, many originators and brokers suffer from outdated branding, according to Brian McCauley, a loan officer at Fairway Independent Mortgage.
According to McCauley, everyone knows that in the digital space, there is no other way but up when it comes to online presence. Everyone is on their phones. Old-school marketing methods like mailers and flyers don’t actually work for capturing attention and compounding brand value because eyeballs are the currency and attention is the asset. There are still some things that work, but they don’t have the same impact as when they used to. Compared to ‘new school’ tactics, it doesn’t yield the same ROI.
In regard to society and economic growth, McCauley emphasizes the importance of the housing and mortgage industries. He said that it can be detrimental to a mortgage business brand’s reputation if they fail to make that clear to their customers.
According to Mc Cauley in his latest MPA Talk interview, there has to be a better way of communicating it to the outside world and getting people to embrace the new school concept. He said that people who have been in business for a long time are great in many areas, but they lack the scope and understanding of the digital realm.
Understanding how to get that message out faster and to a larger audience, as well as knowing where the younger generation lives, are essential. When it comes to attracting and growing the new-school crowd, you have to use new-school marketing that they will pay attention to.