Offering free giveaways to mortgage prospects and clients is a powerful business building strategy that can result in a flood of new and repeat mortgage clients.
It may seem counterintuitive to give away your services to build your business; however, people can’t resist the lure of receiving something for free. The word free, as worn out as it may seem, is still the most powerful word in marketing and has a hypnotic effect on people.
Why Free Giveaways Work
The reason free giveaways work so well is two-fold. First, prospects that test your service risk-free will hopefully recognize its value and want more of what you have to offer. Or even better, your prospect will get “hooked” on your service and become loyal lifetime client.
Second, the fact that your mortgage advice was given to your prospects as a free gift will compel them to return the favor by continuing the relationship with you. This principle is called the “Law of Reciprocity,” which simply states that people naturally feel an obligation to return favors as a way of expressing their thanks.
Information - The Ultimate Free Giveaway
Ideally, it’s best to offer free giveaways that are low cost but have a high perceived value to the person you are giving it to. Information is a great example of a free giveaway that has a low product cost and a high perceived value. This is why it’s smart for mortgage professionals to use special reports containing “insider” information as a free giveaway for lead generation.
Your free information could come in the form of a written document, an audio CD, a 1-on-1 consultation or a live seminar that your target market would be interested in. Regardless of what form you choose to deliver your free information product, the key is to make it relevant and valuable to your target market. If done right, your free educational resource will instantly position you as a “trusted advisor” and “expert” in your industry.
Free Giveaway Case Studies
There are a myriad of ways to offer a free giveaway and many effective types of giveaways (other than information) that your mortgage business can use to attract a steady flow of new clients. The following are a few ideas on how to give away information to close more deals with less effort:
Idea #1 - Free Special Report
Start by jotting down the most important things your target market needs to know to avoid mistakes, minimize risk, eliminate frustration and have a stress free financing experience. What comes to mind might seem elementary to you but these little “secrets” can truly make a world difference to your prospects. Once you’ve created your outline, go ahead and start writing your report. If you’re too lazy to do that, consider enrolling in my Mortgage Superstar Coaching Program, where I provide 5 “Done for You” reports that you can use right away!
Idea #2 - Free Audio CD
Offer a free audio CD to your prospects and newsletter subscribers. Audio CD's are simple to produce (I take you step-by-step through the process of creating your own audio CD in my coaching program) and it’s very inexpensive.
Idea #3 - Free Checklist
People love step by step direction and guidance. People love simple steps that they can follow. Why not take what you know and create a checklist that you can offer as an “ethical bribe” for lead generation efforts.
To attract new clients you should offer your free giveaways to prospects that haven’t yet done business with you. You might even partner with a non-competing, but complimentary business and do a joint venture offer where they endorse your free offer to their client database.
Justify Any Deal That's "Too Good To Be True"
If your offer that includes free giveaways appears “too good to be true” to your prospect, it could decrease the believability and credibility of your offer. To avoid this you should always give the reason why you can offer such a great deal.
Remember, your prospect is very skeptical and has good reason to be. We’ve all been duped at one point in time by a “too good to be true” scam. Furnishing your prospects with the reason why you can offer them such a good deal helps them to logically reconcile your offer in their minds. In turn, this will give your prospect the comfort level needed to act on your offer.
Conclusion
Using free giveaways is an effective mortgage marketing strategy if used correctly. Think about what you can offer free-of-charge that your prospects would consider valuable and that you can give at a low cost to you.
About the Author:
Doren Aldana, is a leading
mortgage marketing consultant for mortgage industry, dedicated to helping mortgage professionals closed more deals with less effort. Aldana is also the author of a 21-part Audio Seminar, "21 Secrets of Superstar Mortgage Brokers and Loan Officers!" To pick up your copy of this special free resource visit: http://www.mortgagemarketingcoach.com
