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Top Strategies to Turn Prospects into Clients

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One of the top priorities for loan officers is finding ways to attract new prospects. Once you have a good list of prospects, your job then is to nurture them into leads, and later, into new clients. Sometimes the job of converting this long list of prospects into clients can feel overwhelming and elusive. Maybe you seem to have interested prospects, but they just keep falling through the cracks. Some of this could be circumstantial, but there are plenty of things that LOs can do to improve their conversion rate. Read on for some of the best strategies to help you improve your pipeline and convert more prospects into clients:


Personalized content marketing

One of the best strategies for LOs to gain new clients is through content marketing. Content marketing is providing valuable or interesting content (articles, videos, etc.) that attracts prospects your way and converts them into clients without using a traditional sales approach. Before you begin creating and distributing content, you want to do some research on who your prospects are. Learn about them through LinkedIn, Facebook, and Twitter where you can find information on their demographic. By meeting them on their turf, you can better add value to their inbox through content that’s actually geared towards them, rather than sending just another sales email. Your content can answer questions, shed light on the loan process, and motivate them to contact you.


Social selling through “social helping”

Social selling is very effective in converting prospects into clients, but only when done in a strategic way. You should approach social selling as “social helping”. You’re here to offer solutions to your prospects’ problems. In this way, you can create a genuine connection with that person so they don’t see you as simply selling to them. How exactly can you do this? One place to start is by joining LinkedIn and Facebook groups and Twitter chats where you can help answer questions and offer insights and solutions. You can even share other people’s content so that you’re not solely pushing your own brand. You can also engage with them on social media and post helpful comments on their posts, showing interest in the subject, and not just using it as a sales opportunity.


Creative email marketing

Keep in the forefront of your prospects’ minds by keeping in touch with them. Using email as a marketing tool is something that most LOs are familiar with; but you don’t want to blend in with the other spam emails. Make yours stand out by being creative. You could include a question in the email that may compel them to respond, or even include one right in the email subject. You can also add an “icebreaker” into your email marketing, like a fun fact about your business or the community. These kinds of things help you to stand out from the competition.


Video marketing

Video marketing is a great way for LOs to engage with prospects and turn them into clients. By sharing resource videos on your website and blog, you can attract prospects who may consult them for answers to their questions and to learn about the borrowing process before even contacting you. This makes them more comfortable and allows them to see you as knowledgeable and tech-savvy. You can also create a Youtube channel for your business where you align the branding with that of your website and blog. You can upload the informational videos you’ve created here, as well as interesting and entertaining videos you create to draw in viewers. The more videos you upload, the better your chances are at spreading your reach and solidifying new clients that appreciate your accessible materials. You can share these videos and advertise them on your social-media pages. Even emailing prospects directly with an entertaining or informative video can encourage prospects to take the next step in working with you.


Create a deadline

Giving prospects a sense of urgency encourages them to contact you. Sometimes you can do this by giving an incentive to responding within a certain time frame. You could also email them giving them a deadline of when you’ll stop reaching out. By letting them know that their lack of response may sever the connection, you can remove invaluable prospects from your funnel and encourage those prospects who are on the fence to get started with the loan process.


By researching your prospects and knowing how to reach them, you can market to them more effectively. Getting creative with video and email marketing and reaching them on a social level through online platforms are all ways to stand out as their loan officer of choice. Start switching out some of your more traditional approaches for methods that work in today’s word, and you’ll see your prospect to client conversion ratio increase.


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