Online, Mobile and Social Media: The Emerging Trends
2
SPEAKERS
• Craig Focardi, Sr. Research Director, TowerGroup
• Rick Grant, Principal, RGA
• Joe Dahleen, Chief Strategy Officer,
Mount Olympus Mortgage
TOPICS
• What are the emerging trends and what do they mean for my business?
• How is Social Media affecting business?
• What effect will Mobile Devices have on business practices?
• Evolving IT provides opportunity for companies to rethink their business model
• What does this mean for mortgage business leaders?
Future of Technology – The Emerging Trends
3
• MBA Social Media Initiatives
• Hashtag – pull on a column on Tweet deck
• Tweet us a question
• Hashtag for today’s presentation: #MBAsocial
• Twitter Username: @MBAMortgage
• Hashtag for this conference: #MBAAnnual11
• For more information after the conference, contact:
• Alicia Roundy, Director of Marketing
• Mortgage Bankers Association
• [email protected]
The Mortgage Bankers Association and Social Media
4
Online Lending, Mobile and Social
Media in Financial Services
Craig Focardi, CMB
Senior Research Director
5
• What are consumer preferences for shopping
and buying financial products online?
• How is the rise of mobile devices impacting
banking and lending transactions?
• Who is using social media in society and
lending, and how are they using it?
• Is online lending a friend or foe of the mortgage
loan officer?
• How can I link my branch, loan officer, online,
mobile and social media channels?
Key Questions
Blackberry PlayBook and Kindle Fire
6
0% 50% 100%
Bars for Personal …
Restaurants for …
Petrol Stations
Personal Travel
Hotels for …
In person, face-to-face Online (website) Mobile app Phone Mail Unsure
Watching the shift to Self-Service: Online
learning and buying have gone mainstream
•Preference to learn about financial products and services in the United States
•Preference to purchase financial products and services in the United States
30
42
47
45
37
24
4
1
1
6
4
4
6
8
15
8
8
9
0% 20% 40% 60% 80% 100%
18-34
35-54
55+
48
63
73
30
18
10
3
2
0
6
4
3
5
1
3
9
11
12
0% 20% 40% 60% 80% 100%
18-34
35-54
55+
Source: CEB Financial Services Customer Experience Survey (2010)
7
Customer satisfaction declines as mortgage
processing time increases (2008-2010)
Source: JD Power , TowerGroup analysis
(1) Scale of 1 to 1000, based on survey of consumers for each calendar year
(Days From Loan Application
To Loan Closing)
20.0
27.5
26.9
24.6
0
10
20
30
40
50
60
70
2008 2009 2010
Application to Close
Approval to Close
Application to Approval
30
46.9
52.1
Customer Satisfaction
Rating
(1)
• Rating: 826 (2010)
• 78% of all loans closed
in 28 days or less
8
Mobile makes online mortgage lending
more desirable and useful
• Mobile
• Expands online lending definition
• Fast boot-up, ‘always on’
• Mobile makes online lending accessible
anywhere, anytime
• Benefits
• Better service, real time communications,
higher lead conversion, decrease cycle time
• Mobile email, phone, and web access helps
integrate channels for consumer and loan officer
• rate alerts
• loan status
• document needs
• approvals
• milestones
9
Loan officers and branches are preferred retail
channels, but online is growing
Source: MortgageBot LLC/Lieberman Research Group (All size lenders)
(Percent)
71%
12%
5%
12%
55%
10%
22%
13%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Loan Officers Branch Service
Personnel
Online/ Call
Center
Mail, Realtor,
Other
Banks (all sizes)
Credit Unions
Share of Retail Channels,
Banks and Credit Unions (2010)
0%
10%
20%
30%
40%
50%
60%
70%
80%
2006 2008 2010
Online/Call Center Branch
Source: MBA/STRATMOR Peer Group Survey
(large lenders)
Share of All Channels,
Large Lenders (2006-10)
(Percent)
10
Loan applicants are online all day, therefore
loan officers need to be mobile too
I should be
working, BUT:
•Was my loan
approved?
• Check Facebook
• is appraisal in?
Time to get ready
for work, but first:
• check Facebook
• are rates down?
• 10 LinkedIn
requests
•Should I lock?
Smartphone
63MM users
10+ MM units sold
• Check mortgage
web site (Loan
approved received!)
• update FB status
to HomeOwner!
• LinkedIn: apply for
new job to pay
mortgage
PM
10
Loan Applicant
Another meeting is
running late
• Good thing I can
check loan status
• tell my spouse the
Closing is on Friday
• call for late day care
•Dinner reservations!
11
Loan Officers Are already online and mobile;
they need online Social Networks & Lead Gen
Source: TowerGroup
Face-to-face
selling is still core
to closing many
of my deals
Time to work out,
but first let’s see
• what the market
is doing and
• where rates are
headed
This Tablet computer
makes checking my
pipeline and replying
to Applicants easier
while watching the
ballgame
I have a half hour
between meetings.
Good thing I can see
my new leads, check
loan status, and tell
Applicant the Closing
is on Friday without
going back to office
10
PM
Loan Officer
12
(How) will online, mobility and social media
transform lead generation and lending?
Source: TowerGroup
2011
? Survivors
? Lending Tree
? Quicken
Loans
? New
? FaceBook
? Google
? Zillow
2001
? AppOnline.com
? Creditland.com
? eJumbo
? E-LOAN
? Homeshark
? Homespace.com?
? iOwn
? LendingTree
2001
? LoanGenie
? LoanShark
? Microsoft HomeAdvisor
? mortgage.com
? Mortgage IT
? Mortgagebid
? Priceline
Will the New Kids on the Block (and Survivors) Have Better Luck
Than the Last Bunch (or Get Kicked Off the Island)?
13
Conclusions and Recommendations
• Consumer tech is has caught up with
consumer desires to buy mortgages online
• Low volume and cost pressures make
online and mobile lending attractive
• Social media cannot be a “Field of Dreams”
• Link corporate marketing with branches
• Must increase shopper-lead-app ratios
• Analyze and measure results using new analytics
from other CPG industries (ex. – Proctor&Gamble,
J&J, GM, VISA and Citi using Fractal Analytics.
Also Adobe SocialAnalytics, Claritics, Google, SAS
$64,000 Question:
“If you build it, will they come?”
14
Craig Focardi, CMB
Sr. Research Director
?
Thank you!
?
For more information, visit www.towergroup.com.
?
LinkedIn: Craig.Focardi
?
Email: [email protected]
?
Twitter: @CFocardi
15
New Technologies, Social
Media and Mortgage Lending
•Rick Grant, Principal, RGA
16
Craig told us WHY
Now for the other 4 key questions:
Where? How?
Who? When?
Answering the other key questions
17
Why: Social Networking Is becoming ubiquitous
and is where more online consumers will be
• Source: Pew Internet and American Life Project, TowerGroup
67%
72%
86%
93% 98% 99%
35%
53%
67%
75%
83%
89%
11%
27%
47%
59%
68%
76%
7%
15%
26%
40%
53%
69%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2009 2010 2011P 2012P 2013P
18–29 30–49 50–64 65+
Percentage of
US Population
Social Networking Usage in the United States
by Age Category (2008–13P)
18
WHY I use Social Media
• To be seen as a thought leader
• To know what my competitors are saying
• To know what my clients are saying
• To track hot industry topics
Why: There are many reasons you should
already be leveraging Social Media tools
19
Number of
Users Unique Draw and Viral Effect Bank’s Potential Play
75 million(1) Personal professional network linking
individuals based primarily on
business ties
Effective targeted marketing ;
recruiting
110 million(1) Short messaging and links to
external media; approximately 55
million tweets per day
Real-time product/marketing
updates; customer service.
Not available User-generated video content; 2
billion average views per day
Community and educational
information; marketing
500 million (1) Primarily personal content; linkage
and viewability of much of the
information requires permission
Social-based community;
neighborhood announcements;
philanthropic efforts
3.75 million(2) Alerts others to current location; 1
million check-ins in one day
Location-based marketing;
contests; special offers
Where: Leading social media web sites
Source: Company Web sites, TowerGroup (1) As of Sept. 2010. (2) As of October 2010.
20
How: Setting up your Twitter account
21
How: Using Twitter to ask a question.
22
How: Setting up your LinkedIn account
23
How: Setting up your Facebook account
24
How: Setting up your First Blog
25
Now that you’ve built them
Who will manage them?
• Benefits of a technologist
• Benefits of a New Media pro
• Benefits of an executive
• Risks of a marketing person
• Risks of a committee
Who: Where will the responsibility lie for
making your Social Media efforts pay off?
26
Finding Time for Social Media
• How I load Twitter
• How I use Twitter
• When I post to LinkedIn
• How I run my blog
• Wiring it all together
When: Busy executives must find a way to
build these new responsibilities into their lives
27
Some Good Mortgage Industry Examples
• The Nationwide Title Clearing Blog
• Michael Detwiler’s Blog
• The Equi-Trax Facebook Page
• The Ernst Publishing Twitter stream
• Financial Literacy Solutions video widgets
• Mortgage Originator Dan Green
It doesn’t really matter where you start, but start
you must. Here are good examples to follow
28
But will it lead to more closed loans?
• More than $1T in mortgage business will be closed in 2012
• Borrowers will seek out someone they can trust
• Consumers don’t trust mortgage lenders very much
• CFPB, by it’s very nature, will make them trust you less
• Social Media is the way trust is built online
• If you don’t get there now, some other originator will
ROI: Will Social Media really pay off?
“Those who master it will find it the single largest source
of quality leads”
29
Rick Grant, Principal, RGA
?
Thank you.
?
For more information, visit www.rga-pr.com.
?
LinkedIn: www.linkedin.com/in/rickgrant
?
?
Email: [email protected]
?
Twitter: @nyrickgrant
30
New Technologies and the
Mortgage Lender
Joe Dahleen, Chief Strategy Officer,
Mount Olympus Mortgage
31
Getting started with a Social Media Strategy
• Develop a Social Media policy
• Set the rules Up Front
• Agree on guidelines for use of social media and who can use it.
• Get those signed agreements back from Sales Personal (biggest violators)
• Agree on a strategy from the beginning
• Get executive level buy in – ALIGN with top management
• Question: How many companies have a social media Policy already in place?
• Build Phase
• Build your website with all of the most important tools and landing pages. Lay a good foundation for lead capture.
Maintain control over websites content and maintain compliance upfront.
• Build your brand & Consumer Friendly Design
• Build social media identities (Business Facebook page, twitter accounts, Linked In Company Page, You Tube
Channel, Foursquare ) Others?
• Build your Blog and get your content set up.
• Decisions: In house or outsource?
• What type of content? Content is KING.
32
Don’t get disconnected with the
origination strategy
• Origination Strategy
• What is your strategy? Paperless with eSign & eNotes?
• Leverage your consumer facing interface – It’s easy to apply, or it’s easy to view rates?
• What if you don’t have a good consumer facing interface?
• Then get a good Live Chat Help Desk set up to take in all of the different areas that leads will come from in your social
strategy
• Live Chat with Co-browser – consumers want instant response – you should offer it - builds a good reputation.
• Have the ability for the consumer to offer feedback, comments or take an simple 3 question survey. This you can use
again and again.
• Offer Live Rates so that the consumer knows your transparent. It’s too easy to shop now a days and if they leave your
site they could never come back.
• Channel of Business
• Which Channel of business will respond to your social media strategy? Do you have an online channel? Do you
have a call center? Do you have a high touch customer response? Remember about those landing pages – Very
Important.
• Follow up, Follow up, Follow up – these leads are high touch leads that need immediate response.
• Failure on this step is way too costly in today comment heavy environment.
33
Social Foundation is set – it’s time to
Market your company
• Leverage Online Media
• Mobile Ads: iAds, CityGrid, Google Mobile Ads,
• Text messaging Strategies: first time home buyers and Eco-boomers love text
messaging.
• Localized Banner Ads, Video Banner Ads that syndicate
• Leverage Organic SEO
• Your website is key in this area – Remember those landing page?
• Sales specific websites – one for each sales person. Individual loan officer websites.
• Linked In, Facebook , YouTube Channel and Twitter will all help you promote in
Google
• Leverage SEM (Search Engine Marketing) – Careful – this can be
expensive.
• Google Comparison Ads (need strong PPE)
• Bank Rate and other lead providers. (this list is huge)
• Leverage SMM (Social Media Marketing)
• Linked In Ads
• Twitter Promotional ads - NEW – Twitter Social Analytics Tool
• Facebook Ads
34
Social Foundation is set – it’s time to
Market your company (continued)
• Leverage Online Market Place – Go where the eyeballs
are:
• Zillow Mortgage Marketplace (Auto Quoting), Zillow Banner Ads,
• Google Comparison Ads
• Trulia if your working with Realtors
• FrontDoor - HGTV – Scripps Network Digital
• Leverage Facebook:
• Your website inside of a Website – How it works, How to Promote
your page, How to run Ads, How to get Fans.
• What is a welcome page – why is it important?
• What type of leads are your trying to capture?
• Leverage Free Stuff:
• QR Codes with unique landing pages (Huge with Realtors)
• Linked In Discussions
• Zillow Advice Area
• Trulia Answers
35
Leverage your company content over
multi social media identities
Streams & RSS
Feeds
Provides updated
blog topics that
feed all of your
Social
Identities.
36
Leverage your company content over multi social media
identities expanded over your employees = big opportunity
Joe Dahleen interview with Mark Wayman, Social Gears
Manage huge branch
networks and teams of
Loan Officer websites
nationwide with the
right technology is
easy.
37
?
Thank you.
?
For more information,
visit my Social Business
card
http://momco.me/joe
?
Loan Officer Website
example:
http://momco.com/joe
Live Demo – Text message to 206-499-4888
38
ONE PAGE SOCIAL MEDIA ACTION PLAN
What should I do when I get back to the office
on Thursday?
Quick Start Guide
? Assign part-time social media
responsibilities to Marketing & IT
? Outline a basic short-term strategy
? Establish a small budget
? Consider hiring a consultant
? Pick a Media (ex. - Linked-In)
? Take an afternoon and create a
company presence
? Build on it; refresh content;
measure results
? Create a Facebook page next
Full User Guide
? Outline a strategy
? Establish a budget
? Hire a social media director, or ½
marketing position
? Outline a short-term and long-term
phased strategy
? Plan and implement a multi-media
presence
? Build on it; refresh content;
measure results
? Lead tracking, conversion, ROI
Online, Mobile and Social Media: The Emerging Trends
doc_306604110.pdf
2
SPEAKERS
• Craig Focardi, Sr. Research Director, TowerGroup
• Rick Grant, Principal, RGA
• Joe Dahleen, Chief Strategy Officer,
Mount Olympus Mortgage
TOPICS
• What are the emerging trends and what do they mean for my business?
• How is Social Media affecting business?
• What effect will Mobile Devices have on business practices?
• Evolving IT provides opportunity for companies to rethink their business model
• What does this mean for mortgage business leaders?
Future of Technology – The Emerging Trends
3
• MBA Social Media Initiatives
• Hashtag – pull on a column on Tweet deck
• Tweet us a question
• Hashtag for today’s presentation: #MBAsocial
• Twitter Username: @MBAMortgage
• Hashtag for this conference: #MBAAnnual11
• For more information after the conference, contact:
• Alicia Roundy, Director of Marketing
• Mortgage Bankers Association
• [email protected]
The Mortgage Bankers Association and Social Media
4
Online Lending, Mobile and Social
Media in Financial Services
Craig Focardi, CMB
Senior Research Director
5
• What are consumer preferences for shopping
and buying financial products online?
• How is the rise of mobile devices impacting
banking and lending transactions?
• Who is using social media in society and
lending, and how are they using it?
• Is online lending a friend or foe of the mortgage
loan officer?
• How can I link my branch, loan officer, online,
mobile and social media channels?
Key Questions
Blackberry PlayBook and Kindle Fire
6
0% 50% 100%
Bars for Personal …
Restaurants for …
Petrol Stations
Personal Travel
Hotels for …
In person, face-to-face Online (website) Mobile app Phone Mail Unsure
Watching the shift to Self-Service: Online
learning and buying have gone mainstream
•Preference to learn about financial products and services in the United States
•Preference to purchase financial products and services in the United States
30
42
47
45
37
24
4
1
1
6
4
4
6
8
15
8
8
9
0% 20% 40% 60% 80% 100%
18-34
35-54
55+
48
63
73
30
18
10
3
2
0
6
4
3
5
1
3
9
11
12
0% 20% 40% 60% 80% 100%
18-34
35-54
55+
Source: CEB Financial Services Customer Experience Survey (2010)
7
Customer satisfaction declines as mortgage
processing time increases (2008-2010)
Source: JD Power , TowerGroup analysis
(1) Scale of 1 to 1000, based on survey of consumers for each calendar year
(Days From Loan Application
To Loan Closing)
20.0
27.5
26.9
24.6
0
10
20
30
40
50
60
70
2008 2009 2010
Application to Close
Approval to Close
Application to Approval
30
46.9
52.1
Customer Satisfaction
Rating
(1)
• Rating: 826 (2010)
• 78% of all loans closed
in 28 days or less
8
Mobile makes online mortgage lending
more desirable and useful
• Mobile
• Expands online lending definition
• Fast boot-up, ‘always on’
• Mobile makes online lending accessible
anywhere, anytime
• Benefits
• Better service, real time communications,
higher lead conversion, decrease cycle time
• Mobile email, phone, and web access helps
integrate channels for consumer and loan officer
• rate alerts
• loan status
• document needs
• approvals
• milestones
9
Loan officers and branches are preferred retail
channels, but online is growing
Source: MortgageBot LLC/Lieberman Research Group (All size lenders)
(Percent)
71%
12%
5%
12%
55%
10%
22%
13%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Loan Officers Branch Service
Personnel
Online/ Call
Center
Mail, Realtor,
Other
Banks (all sizes)
Credit Unions
Share of Retail Channels,
Banks and Credit Unions (2010)
0%
10%
20%
30%
40%
50%
60%
70%
80%
2006 2008 2010
Online/Call Center Branch
Source: MBA/STRATMOR Peer Group Survey
(large lenders)
Share of All Channels,
Large Lenders (2006-10)
(Percent)
10
Loan applicants are online all day, therefore
loan officers need to be mobile too
I should be
working, BUT:
•Was my loan
approved?
• Check Facebook
• is appraisal in?
Time to get ready
for work, but first:
• check Facebook
• are rates down?
• 10 LinkedIn
requests
•Should I lock?
Smartphone
63MM users
10+ MM units sold
• Check mortgage
web site (Loan
approved received!)
• update FB status
to HomeOwner!
• LinkedIn: apply for
new job to pay
mortgage
PM
10
Loan Applicant
Another meeting is
running late
• Good thing I can
check loan status
• tell my spouse the
Closing is on Friday
• call for late day care
•Dinner reservations!
11
Loan Officers Are already online and mobile;
they need online Social Networks & Lead Gen
Source: TowerGroup
Face-to-face
selling is still core
to closing many
of my deals
Time to work out,
but first let’s see
• what the market
is doing and
• where rates are
headed
This Tablet computer
makes checking my
pipeline and replying
to Applicants easier
while watching the
ballgame
I have a half hour
between meetings.
Good thing I can see
my new leads, check
loan status, and tell
Applicant the Closing
is on Friday without
going back to office
10
PM
Loan Officer
12
(How) will online, mobility and social media
transform lead generation and lending?
Source: TowerGroup
2011
? Survivors
? Lending Tree
? Quicken
Loans
? New
? Zillow
2001
? AppOnline.com
? Creditland.com
? eJumbo
? E-LOAN
? Homeshark
? Homespace.com?
? iOwn
? LendingTree
2001
? LoanGenie
? LoanShark
? Microsoft HomeAdvisor
? mortgage.com
? Mortgage IT
? Mortgagebid
? Priceline
Will the New Kids on the Block (and Survivors) Have Better Luck
Than the Last Bunch (or Get Kicked Off the Island)?
13
Conclusions and Recommendations
• Consumer tech is has caught up with
consumer desires to buy mortgages online
• Low volume and cost pressures make
online and mobile lending attractive
• Social media cannot be a “Field of Dreams”
• Link corporate marketing with branches
• Must increase shopper-lead-app ratios
• Analyze and measure results using new analytics
from other CPG industries (ex. – Proctor&Gamble,
J&J, GM, VISA and Citi using Fractal Analytics.
Also Adobe SocialAnalytics, Claritics, Google, SAS
$64,000 Question:
“If you build it, will they come?”
14
Craig Focardi, CMB
Sr. Research Director
?
Thank you!
?
For more information, visit www.towergroup.com.
?
LinkedIn: Craig.Focardi
?
Email: [email protected]
?
Twitter: @CFocardi
15
New Technologies, Social
Media and Mortgage Lending
•Rick Grant, Principal, RGA
16
Craig told us WHY
Now for the other 4 key questions:
Where? How?
Who? When?
Answering the other key questions
17
Why: Social Networking Is becoming ubiquitous
and is where more online consumers will be
• Source: Pew Internet and American Life Project, TowerGroup
67%
72%
86%
93% 98% 99%
35%
53%
67%
75%
83%
89%
11%
27%
47%
59%
68%
76%
7%
15%
26%
40%
53%
69%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2009 2010 2011P 2012P 2013P
18–29 30–49 50–64 65+
Percentage of
US Population
Social Networking Usage in the United States
by Age Category (2008–13P)
18
WHY I use Social Media
• To be seen as a thought leader
• To know what my competitors are saying
• To know what my clients are saying
• To track hot industry topics
Why: There are many reasons you should
already be leveraging Social Media tools
19
Number of
Users Unique Draw and Viral Effect Bank’s Potential Play
75 million(1) Personal professional network linking
individuals based primarily on
business ties
Effective targeted marketing ;
recruiting
110 million(1) Short messaging and links to
external media; approximately 55
million tweets per day
Real-time product/marketing
updates; customer service.
Not available User-generated video content; 2
billion average views per day
Community and educational
information; marketing
500 million (1) Primarily personal content; linkage
and viewability of much of the
information requires permission
Social-based community;
neighborhood announcements;
philanthropic efforts
3.75 million(2) Alerts others to current location; 1
million check-ins in one day
Location-based marketing;
contests; special offers
Where: Leading social media web sites
Source: Company Web sites, TowerGroup (1) As of Sept. 2010. (2) As of October 2010.
20
How: Setting up your Twitter account
21
How: Using Twitter to ask a question.
22
How: Setting up your LinkedIn account
23
How: Setting up your Facebook account
24
How: Setting up your First Blog
25
Now that you’ve built them
Who will manage them?
• Benefits of a technologist
• Benefits of a New Media pro
• Benefits of an executive
• Risks of a marketing person
• Risks of a committee
Who: Where will the responsibility lie for
making your Social Media efforts pay off?
26
Finding Time for Social Media
• How I load Twitter
• How I use Twitter
• When I post to LinkedIn
• How I run my blog
• Wiring it all together
When: Busy executives must find a way to
build these new responsibilities into their lives
27
Some Good Mortgage Industry Examples
• The Nationwide Title Clearing Blog
• Michael Detwiler’s Blog
• The Equi-Trax Facebook Page
• The Ernst Publishing Twitter stream
• Financial Literacy Solutions video widgets
• Mortgage Originator Dan Green
It doesn’t really matter where you start, but start
you must. Here are good examples to follow
28
But will it lead to more closed loans?
• More than $1T in mortgage business will be closed in 2012
• Borrowers will seek out someone they can trust
• Consumers don’t trust mortgage lenders very much
• CFPB, by it’s very nature, will make them trust you less
• Social Media is the way trust is built online
• If you don’t get there now, some other originator will
ROI: Will Social Media really pay off?
“Those who master it will find it the single largest source
of quality leads”
29
Rick Grant, Principal, RGA
?
Thank you.
?
For more information, visit www.rga-pr.com.
?
LinkedIn: www.linkedin.com/in/rickgrant
?
?
Email: [email protected]
?
Twitter: @nyrickgrant
30
New Technologies and the
Mortgage Lender
Joe Dahleen, Chief Strategy Officer,
Mount Olympus Mortgage
31
Getting started with a Social Media Strategy
• Develop a Social Media policy
• Set the rules Up Front
• Agree on guidelines for use of social media and who can use it.
• Get those signed agreements back from Sales Personal (biggest violators)
• Agree on a strategy from the beginning
• Get executive level buy in – ALIGN with top management
• Question: How many companies have a social media Policy already in place?
• Build Phase
• Build your website with all of the most important tools and landing pages. Lay a good foundation for lead capture.
Maintain control over websites content and maintain compliance upfront.
• Build your brand & Consumer Friendly Design
• Build social media identities (Business Facebook page, twitter accounts, Linked In Company Page, You Tube
Channel, Foursquare ) Others?
• Build your Blog and get your content set up.
• Decisions: In house or outsource?
• What type of content? Content is KING.
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Don’t get disconnected with the
origination strategy
• Origination Strategy
• What is your strategy? Paperless with eSign & eNotes?
• Leverage your consumer facing interface – It’s easy to apply, or it’s easy to view rates?
• What if you don’t have a good consumer facing interface?
• Then get a good Live Chat Help Desk set up to take in all of the different areas that leads will come from in your social
strategy
• Live Chat with Co-browser – consumers want instant response – you should offer it - builds a good reputation.
• Have the ability for the consumer to offer feedback, comments or take an simple 3 question survey. This you can use
again and again.
• Offer Live Rates so that the consumer knows your transparent. It’s too easy to shop now a days and if they leave your
site they could never come back.
• Channel of Business
• Which Channel of business will respond to your social media strategy? Do you have an online channel? Do you
have a call center? Do you have a high touch customer response? Remember about those landing pages – Very
Important.
• Follow up, Follow up, Follow up – these leads are high touch leads that need immediate response.
• Failure on this step is way too costly in today comment heavy environment.
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Social Foundation is set – it’s time to
Market your company
• Leverage Online Media
• Mobile Ads: iAds, CityGrid, Google Mobile Ads,
• Text messaging Strategies: first time home buyers and Eco-boomers love text
messaging.
• Localized Banner Ads, Video Banner Ads that syndicate
• Leverage Organic SEO
• Your website is key in this area – Remember those landing page?
• Sales specific websites – one for each sales person. Individual loan officer websites.
• Linked In, Facebook , YouTube Channel and Twitter will all help you promote in
• Leverage SEM (Search Engine Marketing) – Careful – this can be
expensive.
• Google Comparison Ads (need strong PPE)
• Bank Rate and other lead providers. (this list is huge)
• Leverage SMM (Social Media Marketing)
• Linked In Ads
• Twitter Promotional ads - NEW – Twitter Social Analytics Tool
• Facebook Ads
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Social Foundation is set – it’s time to
Market your company (continued)
• Leverage Online Market Place – Go where the eyeballs
are:
• Zillow Mortgage Marketplace (Auto Quoting), Zillow Banner Ads,
• Google Comparison Ads
• Trulia if your working with Realtors
• FrontDoor - HGTV – Scripps Network Digital
• Leverage Facebook:
• Your website inside of a Website – How it works, How to Promote
your page, How to run Ads, How to get Fans.
• What is a welcome page – why is it important?
• What type of leads are your trying to capture?
• Leverage Free Stuff:
• QR Codes with unique landing pages (Huge with Realtors)
• Linked In Discussions
• Zillow Advice Area
• Trulia Answers
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Leverage your company content over
multi social media identities
Streams & RSS
Feeds
Provides updated
blog topics that
feed all of your
Social
Identities.
36
Leverage your company content over multi social media
identities expanded over your employees = big opportunity
Joe Dahleen interview with Mark Wayman, Social Gears
Manage huge branch
networks and teams of
Loan Officer websites
nationwide with the
right technology is
easy.
37
?
Thank you.
?
For more information,
visit my Social Business
card
http://momco.me/joe
?
Loan Officer Website
example:
http://momco.com/joe
Live Demo – Text message to 206-499-4888
38
ONE PAGE SOCIAL MEDIA ACTION PLAN
What should I do when I get back to the office
on Thursday?
Quick Start Guide
? Assign part-time social media
responsibilities to Marketing & IT
? Outline a basic short-term strategy
? Establish a small budget
? Consider hiring a consultant
? Pick a Media (ex. - Linked-In)
? Take an afternoon and create a
company presence
? Build on it; refresh content;
measure results
? Create a Facebook page next
Full User Guide
? Outline a strategy
? Establish a budget
? Hire a social media director, or ½
marketing position
? Outline a short-term and long-term
phased strategy
? Plan and implement a multi-media
presence
? Build on it; refresh content;
measure results
? Lead tracking, conversion, ROI
Online, Mobile and Social Media: The Emerging Trends
doc_306604110.pdf