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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. Pick up The
21-part Audio Seminar, “21 Secrets of Superstar Mortgage
Brokers and Loan Officers!”
http://www.mortgagemarketingcoach.com
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