We always want to find ways to differentiate ourselves from the competition; and it’s particularly important if you want to reach more millennial prospects. Millennials grew up with instant access to information and they research all of their options before making an informed decision. So, when it comes to taking out a mortgage, they know they have their pick of loan officers. In order to earn their business, you’re going to have to stand out from your local competitors. This week, I put together some ideas for reaching more millennial prospects and setting yourself up as the go-to LO in your market. Here are a few ideas:
Authenticity Is a Must
Millennials are known for appreciating authenticity, and they’re savvier than you might think at spotting a phony brand or sales-y marketing. Instead of giving their business to large, impersonal corporations, the majority of millennials would prefer to work with somebody who is true to their values. It’s not about modifying your brand to appeal to them — they’ll often see through that — instead, you need to be authentic. Show them who you are and what you’re about in your marketing and branding, and then prove it by upholding those statements in the service you provide.
I know I’ve already done it a couple times in this article (and I’ll do it a couple more before the end), but you can’t rely on stereotypes if you want to have success with the millennial demographic. It’s one thing to gather information on a demographic and another to rely exclusively on that information in every interaction. As you learn more about the millennial market, try to remember that generalizations are just that — they don’t apply to everyone. Look for some balance; learn what you can about the demographic, but stay open minded and focus on the individual.
There’s a big difference between just having an online presence and engaging online. While it’s important to have an online presence if you want to reach millennials, you need to use it if you want to stand out. They want to see that a real person is behind that presence — one they can interact with. A good starting point is posting content. A blog that gets updated frequently with articles that address the primary questions and concerns that millennials have will always get attention. Engagement also requires being accessible online. When a follower comments on or engages with an article you wrote or a social-media post you shared, respond in a timely manner so they see that you’re attentive and interested.
These are the 3 best things I can think of when it comes to reaching more millennial prospects. You don’t need to give your entire brand a makeover to reflect what you think millennials will like. If you want to earn millennials’ business, stand out by building a strong, authentic brand and staying true to your business values.
Good luck and let me know how any of these tips may have helped you!
If you’re a loan officer, sales manager, or branch manager considering new opportunities, don’t hesitate to get in touch.