The only constant is change

How will the changes in social media marketing affect your business?

As you would have read recently, Facebook announced the biggest algorithm change in years.  Users will see more content from friends and family in their news feeds, and less from brands and publishers.

So what impact will that have on business content marketing?

The short answer is…time will tell.  But what we do know is that marketing and lead generation, is ever changing and evolving and always will be.  Like many other strong businesses and brands (think Apple) Facebook continues to develop their product.

Facebook brand pages took off in 2007, then came ‘becoming a fan’ in 2009.  Then followed contests and promotions, storefronts and ads.  Their evolution continues.

Demand for and cost of Facebook advertising is expected to increase with the decline in organic reach and ‘downgrading’ of news feed content from brands and publishers.

We will continue to see developments and changes in marketing and social media.  Think messenger marketing, message bots, artificial intelligence, personalisation technologies, and the list will always go on…

Don’t put all your eggs in one basket

Although Your Client Matters is a huge supporter of the Facebook platform for the finance industry, we have always supported (since the evolution of email marketing) that the key is to invest in not just one marketing platform, but many.  Multi-channel marketing has been around for ever, and will continue to be the case.

Just like we can no longer live with one simple IT solution to run your business, we can also no longer be dependent on any one marketing medium.

Each marketing channel will morph and adapt to changing times and communication consumption habits.

Look at email marketing.  Marketing automation plays a huge role in expanding the use of this marketing medium.  Headlines such as “Pssst, you still joining us?”, “Just following up” and “You haven’t checked out your shopping basket” are all subject lines we are seeing in our inboxes thanks to marketing automation.

So too will personalisation technologies.  Marketo in their 2018 Marketing Predictions report states that this year personalisation across channels will no longer be an option but rather an expectation from customers…more ch-ch-changes.

To adapt to these (constant) changes in marketing and social media, we suggest a multi-channel marketing program.  Think email marketing, as well as website, blog, video, audio…

Not all channels will suit your business, audience or your budget (or ours for that matter), but it is important to be aware of the changes in technology, your audiences communication consumption, and demographic shifts.

Multi-channel marketing

    • Email marketing – including automation, oh and personalisation!
    • Lead magnets – however building trust is crucial
    • Websites – will continue to be a ‘go-to place’ to convey your brand, services and knowledge – but hey – make sure it is mobile friendly
    • Blogs and articles – have a (consistent) say on topics of interest to your audience
    • Facebook newsfeed – ‘See first on Facebook’ – the ‘see first’ setting in Facebook will allow your audience to see your latest and greatest content in their newsfeed, but they have to turn it on!
    • Closed Facebook groups – to build a highly engaged community of individuals interested in your business, but consistency and value is key
    • Print magazine – still proven to achieve high open rates. It’s hard to avoid a glossy and engaging educational experience in your letterbox!
    • Video – has been booming across social channels for the past couple of years.  In Buffer’s The State of Social 2018 report, it states 85% of businesses are keen to create more video this year.  And interestingly, live videos on average get six times as many interactions as regular videos
    • Messenger – As organic social media reach declines, greater numbers of marketers will experiment with messaging apps as a way to connect with their audience
    • Podcast – for those of your audience that tend to listen (rather than read) on their commute or on in the background when they’re at the gym

YCM does not profess you should have all of these right now in your business, or ours. BUT we are super excited about the plans we have for YOU and YOUR Clients via the YCM marketing offerings this year.


Sources
Mashable Australia:- http://mashable.com/2012/03/30/facebook-for-brands/#rlMHlRk3MOqX
Hubspot:- https://www.hubspot.com/marketing-statistics)
Marketo:- https://blog.marketo.com/2018/01/3-technologies-watch-use-today.html
Buffer:- The State of Social 2018 Report: https://blog.bufferapp.com/state-of-social-2018

Digital disruption and the wake of marketing confusion

Here are some headlines I’ve been observing over the last few months: the scare tactics worrying brokers that if you don’t jump on board the band wagon of ‘digital marketing’ then you will be left behind.

  • ‘The mortgage broking industry will transform significantly in the next four years with the biggest driver of change being digital disruption’
  • ‘Why social media should be a part of EVERY broker’s business’
  • ‘Google backs out of mortgage industry’
  • ‘Calculators are the most searched mortgage tool’
  • ‘Mobile revolution’
  • ‘Suddenly SMS seems cheap’
  • ‘Content is king!’

But did you know that we are also seeing more printed advertising as well:

  • ‘Why print marketing Is vital for online success’
  • ‘85% of 24-35 year olds preferred the traditional printed version over the digital catalogue’

And this one last month

  • ‘How your print magazine and responsive smartphone edition can work together to grow your audience.‘

I had to laugh the other day when I saw AND ACTUALLY READ an email with this comment from one of the main digital marketing companies:

“Marketers are spoilt for choice when it comes to digital marketing channels.
Programmatic, social, mobile apps… the list goes on.
Despite all the latest and greatest, tried-and-tested tactics still have their place in any marketing strategy this year: when it comes to true audience engagement, email is still king”.

SO why did we think the comment was funny?

With all the digital marketing hype, I find it curious WHY a digital marketing company is trying to revert to ‘tried and tested tactics’ and suggest that it is still email?

Is it because with additional social media notifications and constant bombardment of automated digital media their new ‘technology’ is just annoying people so they need to scale back to good old marketing tactics? What do you think?

Do you know how many emails were sent and received last year?

The answer is 205 billion! Scary isn’t it?

Even scarier is that this figure is expected to grow by 3% annually over the next four years!

How many unread emails are sitting in your inbox right now?

Have you noticed our email inboxes are becoming unmanageable?

I have seen at least 3 webinars advertised recently about ‘How to manage your inbox’ so we are not alone in the world of email clutter.

You would also know that YCM believes the good old ‘tried and tested tactic’ is actually sending something in the POST!

Now I am not suggesting that digital media is not important to your business and marketing strategy – it certainly is, however I don’t think you should be losing sleep yet. You merely need a presence, a plan and definitely a strategy. But don’t get ripped off!

So my challenge to you as you read this is:

If you actually opened the envelope this arrived in – and you are reading it – then we have just filtered through your email inbox, your social and digital marketing notifications, in a much more powerful way than any other marketing communication ever will.

So call YCM today to cut through the clutter and really communicate with YOUR clients by using the ‘tried and tested YCM marketing program’ – that just happens to include our PRINTED Finance Matters magazine (AND your online presence) that your CLIENTS WILL ACTUALLY READ and respond to. After all…

Getting through the clutter Matters.

The young diamonds of the industry

YCM has been working with many new entrants to the industry over the last 2-3 years. Those we meet aren’t necessarily ‘young’ but they are ‘young’ in the world of finance. What we LOVE is that they are full of optimism, enthusiasm and open to ideas. AND they work hard. What can we ‘veterans’ of the industry learn from our new colleagues?

I’d like to introduce to you Carl Violeta from Violeta Finance.

I met Carl last month at an AlphaBroker Mentoring (mentee) PD day. Carl was recognised as the top achiever for the year so I was interested to find out what made him tick. What does he do that is different to other new entrants (AND existing brokers)? How can we all learn from this motivated and energetic young man?

Carl has been a broker for under 2 years and is nearing completion of his mentoring. He worked full time running a sales agency in the rag trade during his first 12 months – he spent that year learning about the finance business and what he needed to do to become a GREAT broker. In the second 12 months he developed his ‘sales system’ and is now enjoying the lucrative and personal benefits of being a broker.

“My career change was triggered by events in my previous business in 2013. My clients were closing their premises. It was becoming harder to service clients. I could see the business was not sustainable long term so I started looking for other business opportunities and came across mortgage broking.”

Your biggest challenge entering the finance industry?

It was really hard running another business while trying to learn and build a mortgage broking business. There was a lot of after hours’ activity and weekend commitments in my first year just to keep up.

If you had your time again, what would you do differently?

Bite the bullet and jump right into it full time. I did this in February 2015 and I wish I had done it earlier. With 100% focus on your broking business you build momentum a lot quicker and see results sooner. When you commit to full time, you can build the relationships you need to gain referrals and respond to emails and calls in a timely manner. Overall you present better as a broker and that’s important.

What stopped you from doing this sooner?

Cash flow. I had to make sacrifices when I decided to go full time. I didn’t have an established pipeline or any referral partners and I really didn’t know the finance industry that well so I was very apprehensive. When I decided to just do it, from then it was full steam ahead.

So what did you do differently?

February was good timing for me – it all fell into place. I joined a 28 day challenge with my mentee group to meet one new person every day. It was really hard but through that challenge I met an accountant with a shop front. She asked me to move in to her office so I left my home office and did so. I did lots of networking and met many people including real estate agents (now some of my biggest referrers), solicitors and conveyancers. I worked hard, got my name out there and went to many open houses on weekends. I usually get 1-2 good leads on a Saturday.

Carl, most brokers tell me you can’t work with real estate agents. What would you like to say to them?

For me, success came from targeting smaller boutique agents. They were similar in age and attitude to me in regards to customer service and helping people. Other agents just selling product would end up stuffing me around and wanting me to work onsite and get leads FOR THEM. I’m into adding value to the client – not just selling them something.

Having a record month in November, what was the real key to your success last year?

It was 2 main things really:

    1. Just getting out and meeting people. Get out of the office was my mantra. You don’t meet people sitting at your desk waiting for the phone to ring. I’ve participated in a few community events, sponsored a local dance school open day and handed out lots of balloons (with my business name on it) to many kids. I’m a big fan of charity.

 

  1. Consistency and discipline. I consistently attended open homes, meeting 50-100 people every Saturday. These people were all future prospects for home loans. Some already had pre-approvals or were using other brokers but many still didn’t know how much they could borrow or even the process of borrowing money.

The Melbourne market kicked into gear after winter with more buyers in the market. I also attended auctions and was disciplined in my commitment to meet new people every day – I consistently meet at least 300 new people per month. I’m not only getting leads for now but also for the future. There are many facets to being a broker but you can’t write business without meeting new people. I love talking to and helping people. If you can do that, the sales will automatically follow.

Any final tips for our readers?

Outsource what you’re not good at.
(YCM likes that one!)

Get some affiliate partners to help you with referrals.

Focus! Get out of the office.

What an outstanding example of what it takes to succeed as a broker. I think there is a lot for ALL of us to learn from your story. Thank you for sharing Carl. Congratulations! We look forward to seeing your name up there in the industry awards.