Decide on your topic
Reverse mortgage loans can be complex. Trying to explain all the ways someone can benefit from a loan can be overwhelming.
Keep your presentation short. Your entire presentation should be no longer than 45 minutes. The first 10 minutes should focus on the product. For the next 10 to 15 minutes, tell stories. Putting a personal spin on reverse mortgages can help your audience understand. Tell them about the impact a reverse mortgage had on some of your other clients. Use the last 20 minutes to answer questions. Have a couple of questions ready to help get the ball rolling, “One question I am frequently asked is…”
Bring handouts, but don’t give them out until after your presentation. You want your audience to leave with information about reverse mortgages. However, you also want them to pay attention to you when you are speaking. If you give them your presentation, or any other collateral before you speak, your audience will pay attention to what is in their hands, not what you are saying.
The good news is that once you have your presentation ready, it can be used with slight modifications, over and over again.
Secure your venue
When selecting your venue, you have two options. You can host a small, low-cost event or a larger, high-profile one. For a small event you should schedule your event a minimum of 30 days after you have signed an agreement with the site. Due to the increased marketing and logistics of setting up larger events, consider giving yourself at least 45 days after entering into the agreement.
Whether you have a small or large event, determine the audio/visual capabilities. Will you need to bring your own projector, do they have microphones, a sound system, etc…? You also need to determine if you are going to provide food. If so, can your venue provide the food, do you have it catered, or will they allow food at all?
For a small event, consider contacting local title companies. They may have a meeting room you can use for free. If that isn’t available, contact your local community centers. You may be able to host your meeting for $100 or so.
For a large event, find a site close to a concentration of seniors, if possible. To maximize your potential attendance, consider hosting three to four presentations at the same site on different days of the week and times of day. This way your potential clients can choose the time that works best for them. The cost of a larger site varies widely depending on the size, location and more. You can spend several hundred to several thousand dollars securing a venue.
Advertise
The only way to get people to your seminar is to tell them about it. There are many different ways to advertise your event. You can mail invitations to your existing client base. You can also advertise in local senior publications or on senior websites. Community calendars are also good sources of advertising. Many of them are free or charge a nominal fee. Keep your advertisements simple, include the title of the presentation, the time, the location and if you are providing food.
Find out if your site will allow you to put signage outside. Community centers may be more willing than a title company. No matter where you host your presentation, make sure to ask about putting up a sign. You can have a vinyl banner produced at a sign shop for around $50-75.
Include senior in your seminar title and reinforce the fact that loans are government-insured. Also consider including the word alternatives in the title as well. One sample seminar title might be: Learn About Government-Insured Reverse Mortgages and Alternatives for Seniors
Prior to the event
In the weeks leading up to your presentation there are a few things that will give you the best chance for success. Establishing a process to track RSVPs is key and your customer database is the ideal place in which to do it. You will then have all of your data in one place, plus it will be easier to follow-up with those who RSVP and don’t show up. Plus, once they are in your database, you can add them to drip campaigns and other marketing programs.
Collect both phone numbers and email addresses from individuals who want to attend.
Send a reminder email two days before the event and then a 'looking forward to seeing you' email the morning of the event. If you are hosting a small presentation, make a phone call the day before the event.
At the presentation
On the day of your presentation, make sure you have enough handouts for everyone plus a couple of extras. Also, make sure you have a sign-in sheet to track who attends.
Don't ask for all of their contact information on the sign-in sheet. Instead, offer a giveaway at the event (such as a $25 gas card). This will encourage your guests to give you a valid phone and/or email address.
Follow up
Most of your attendees will not be ready to become borrowers at your presentation. Make sure you are able to capture all of your attendee information while at the event. Don't assume you will be able to talk to everyone and get their information at that time. As with any lead, following up with the attendees is key to success.
Create your follow-up emails, letters and phone script prior to the event. This way you are prepared to contact the attendees within a couple days of the seminar.
Below are some standard lead generation sources.
Direct Mail and Email
Acquire a targeted list and mail postcards, flyers or letters. If you obtain a list that includes email addresses, consider sending emails.
Advertising
Advertising can be print, web, radio, TV or any number of other mediums. Generally, the more targeted your ad, the better results you have. One suggestion is to find local senior centers or senior groups in your area that send out newsletters and submit an ad to them.
Seminars
Host a seminar and offer information and advice about the benefits of a reverse mortgage loan.
Database
Use your existing mortgage database to reach out to customers who may now be 62. In addition, consider customers who are in their 30’s and 40’s and talk about the benefits of a reverse mortgage for their parents.
Write
Start a blog or submit an article to a newspaper or newsletter. Position yourself as a reverse mortgage expert that is here to help.
Web
Lead vendors can provide you the names, phone numbers, etc. of seniors who are searching for information about reverse mortgages (or sometimes other related products) online.
1. Determine your goal
Are you trying to revive old leads? Do you want to increase your lead quality so you can focus on your best prospects? Before you set the goal of your lead nurturing campaign, decide what actions make a lead sales-ready. For example, if someone requests collateral, but won’t accept a meeting, they could just be doing research and may not be ready to speak with you. This is a perfect opportunity to add them to a lead nurturing campaign that further qualifies them. If that person comes back and asks questions or requests more information, that’s a much better indication that they are ready to buy.
2. Select a persona
Decide who you are trying to reach. Are you working with the borrower directly or a family member? Determining who you are working with is key to helping create your lead nurturing content.
3. Re-purpose existing content
Now that you’ve decided what makes a person sales-ready, you can choose which content you should send to your fresh leads. Content is a key piece of lead nurturing. Just because someone converts on your website, doesn’t mean you should jump straight into sending them an email about requesting a quote or a demo. You need to nurture them through the sales funnel first to make them ready to buy. Instead of pitching reverse mortgages as the greatest product ever, consider offering them something of value (educational material, invitation to a seminar, etc.).
4. Set up a timeline
You know what your typical sales cycle is, your lead nurturing campaign should follow the same cycle. If your sales cycle is 60-90 days, you may want to reach out to your leads every 2-3 weeks. It is important not to rush the sale, let it take its natural course. Don’t be afraid to experiment with different times to see what works best for your leads.
5. Measure and improve
The last step in setting up a lead nurturing campaign is track what you are sending. You need to know what is working and what is not so you can continue to improve. Create metrics that tie to the goals established in step one.
Headlines Are Key
Headlines are an important part of an ad for a couple of reasons. First, headlines grab attention. You only have a few seconds before the reader moves on, so make the headline count. The headline also sets the stage for the content of the ad. Consider making your headline specific. Rather than simply promoting reverse mortgages in general, write a headline that highlights one of the many benefits, such as staying in your home or planning for retirement. Sample headline wording: “Worried about staying in your home?” Sample sub-headling wording: “A reverse mortgage loan may help.”
Create a Clear Call To Action
What do you want the reader to do? Your ad should tell them what you want them to do and how to contact you. For example, your ad could read, ” To learn more about staying in your home, call me at …” If space is an issue, include at least your name and phone number as the call to action.
Keep It Simple
After your headline and call to action, use as few words and graphics as possible. A text-heavy ad or an ad with several graphics or large blocks of color may turn off readers and reduce your response rate. When adding text, be specific about the benefits and how you can help. Use bullets if possible.
Read Up on Legal Requirements
Make sure you know what has to be included in your ads (e.g., name, phone, license number). Also, make sure you know where and when the ad will run. You will be required to meet the advertising regulations for every area where the ad is published, sent and viewed.