"For small lenders, being part of the community is critical. One approach is sponsoring local sports teams, something New Orleans-based Standard Mortgage does regularly. Over the years, they've backed football squads at a nearby Catholic high school as well as Tulane University's Green Wave. Ella Baldwin, the company's executive vice president of marketing, said it's both a way of giving back and building brand awareness."
"Local advertising has also paid off for Joanne Johansen, owner of Platinum Mortgage Solutions in Wallingford, Conn. Her ads run during movie previews, in local magazines, on takeout menus and even on diner placemats. While she admits the strategy can "sound silly," the repetition has made an impact. "People see you multiple times, multiple places," she said. "If somebody said, 'Oh, you should use this person,' they're going to go, 'Oh, Platinum Mortgage. I've seen them all over.'""
Small mortgage lenders leverage community presence and targeted local marketing to compete with large national firms. They sponsor local sports teams and university squads to give back and raise brand awareness while enabling personal connections between staff and community members. Other tactics include repeated placement in movie previews, local magazines, takeout menus, and diner placemats to build familiarity. Educational outreach through blogs covers topics like tips for millennial buyers and how pre-approvals affect credit scores, addressing common borrower questions and generating goodwill. Additional low-cost channels include social media, buyer nights, and community events to stretch marketing budgets.
Read at National Mortgage News
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