Are You the Mayor of Your Corner of the Lending World?

A mayor is usually an elected official.  People believe in their visions. Believe that they can do the job.  Believe that they represent all their constituents.  Believe that they can be trusted.

The way I see it…to become the mayor of your corner of the lending world—you should be campaigning for that position.

But what loan officers have been taught to do is to market themselves, their loan products and their company’s reputation.

Here’s the generally accepted description of “marketing”:

Marketing is defined by the American Marketing Association as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”. The term developed from the original meaning which referred literally to going to market with goods for sale. From a sales process engineering perspective, marketing is “a set of processes that are interconnected and interdependent with other functions of a business aimed at achieving customer interest and satisfaction”.

Here’s the generally accepted description of “campaigning”:

A political campaign is an organized effort which seeks to influence the decision-making progress within a specific group. In democracies, political campaigns often refer to electoral campaigns, by which representatives are chosen or referendums are decided.

While both methods are important, I believe that a campaign to portray your AUTHENTIC SELF is the more important of the two.

So, how do you campaign to become “mayor”?

  • Know your demographics and target your message to your voters – Realtors. Builders. Past Clients. Affinity groups. Networking groups.
  • Share how you are different from the other candidates.
  • Choose campaign issues – First-time buyers. New construction lender. Women-only niche.
  • Create trust by sharing stories.
  • Relate to your constituents that have the same beliefs as you do – you can never be all things to all people.
  • Craft a campaign slogan – “We work for you—not the bank.” “We close loans and open doors.” (Pay Cray)
  • Public appearances – Show up at events/video/social media on a regular basis.
  • Connect with “influencers” – Ask them to interview you. Endorse you. Allow you to post on their social media pages. Publish your articles.

You will always have people who will vote against you.  So what?  You are building a community that YOU manage. A community of people like you who believe in you and your ability to oversee your mortgage practice.