As a mortgage broker, a large part of your business' success depends on trust — and thus your reputation.
Maintaining great relationships and generating business from word-of-mouth is still an important asset. But many brokers overlook the impact of their online presence. You need to protect your brand in the virtual world as much as in reality.
You've heard the stat before, 84% of consumers trust an online review as much as a recommendation. This means one negative online comment can send a huge chunk of potential leads packing to the competition.
Reputation management is the number one way to protect yourself and protect your brand as a mortgage broker.
Let's talk about the ways reputation management can impact your sales and help you have an overall more successful broker company.
We live in an online world. Your potential customers are almost guaranteed to type your company's name into a search engine before they do business with you.
This means your online reputation is their first impression of your company. And contrary to what you may believe, you have the power in this conversation.
Here's a comprehensive guide on how reputation management can protect your brand, so you don't have to leave it up to chance.
The process of reputation management makes the conversation that may seem out of your hands manageable.
Don't simply read the negative comments online. Responding allows you to create action and curb negativity.
This shows potential clients that you care about your broker business and customers.
Take initiative! Respond and problem-solve client's issues to reduce negativity surrounding your mortgage broker brand.
Chances are, you've seen this process in action before. Even been susceptible to it yourself. Think about the last time you read a negative review online... but there was a well-worded reasonable explanation in response from the company.
Didn't it change your perception?
This response does two things:
You would never allow someone to talk poorly about you during a conversation where you were present without some type of rebuttal. Why would you let this take place online?
So reputation management can protect your brand... What else can it do?
It can help you plan your business' future.
Recurring issues are great! Not because you want them. But because they allow you to address weaknesses in your marketing funnel.
Future promotional campaigns can be based on addressing these weaknesses. They'll even be more successful this way.
This proactive approach can also help you gain industry authority and set your broker business apart from the competition.
Paying close attention to repetitive feedback allows you to understand your target client better. As a mortgage broker, the better you understand your client, the more you can hone your marketing strategy to specifically meet their needs.
The reality is, the mortgage broker industry is worth 8 billion dollars and growing at almost 7% annually... so maintaining a competitive edge isn't negotiable. It's necessary.
Search engines love sites with more content. By launching public relation campaigns based on feedback, your site will have more positive content to show up in search engines and on social media.
What does this do? It increases brand awareness and helps positive messages about your business be found through online searches.
Positive pieces in sufficient numbers can help any negative comments decrease in visibility. The messages, when done well, can create a powerful call to action for possible clients that lead them right to you.
Steer them away from the competition and to your mortgage broker business by using reputation management to protect your brand. Your site will do better strategically in search engines with more content as well, making it more common for you to appear in search results.
Running a campaign this way (through something like a blog, for example) can also foster a sense of community surrounding your business.
Your clients are more likely to share your content in a positive light if they feel like you are adding value that their friends should see, too. And if they're able to respond or subscribe, they will feel more personally connected to your brand.
On a final note, it's important to keep in mind that your online reputation will always be there.
Conversations fade away into distant memory and become less potent with time. But a comment online or a negative review is there to stay, waiting for the next potential client to Google your business.
The importance of managing this is indisputable.
You can't erase negativity online, but you can respond. Just like your business has a strong growth strategy, it needs a strong strategy to protect your brand, too.
In order to protect your mortgage broker company from failing, you need reputation management. It can protect your brand by:
You're a smart mortgage broker who doesn't leave business up to chance.
Why would you let your reputation be any different?
Reputation management can not only protect your brand but also help your future as a broker be more successful than the competition.
And you can't leave that up to just anyone. The future of your company is too important to gamble with — you need the experts.
If you'd like us to dramatically improve your online reputation and leads, claim your free strategy session.
If your serious about becoming the top mortgage broker in your city, go to our "Learning Zone" page, where you can download valuable reports.
If you have questions, contact us for more information.
Aaron is the President & Founder of Mortgage Reputation. He is a passionate and driven entrepreneur, with experience in the Mortgage Industry and Digital Marketing Technology.