Mortgage Broker is the magazine of the Canadian Mortgage Brokers Association and showcases the multi-billion dollar mortgage-broking industry to all levels of government, associated organizations and other interested individuals.
Issue link: http://digital.canadawide.com/i/254794
socialmedia MortgageBroker mbabc.ca winter 2014 | 41 YOU'VE PROBABLY HEARD THAT SOCIAL MEDIA IS GOOD FOR YOUR BUSINESS. If approached correctly it can be – unfortunately, many people, including mortgage brokers, don't use social media platforms effectively. As an active social media user I have seen, and/or experienced, many pitfalls and learned valuable lessons that may help other mortgage brokers maximize this business tool. Remember, Twitter, Facebook and Google+ may be "free" but your time is valuable so there is a cost attached, even if it doesn't show up on a spreadsheet. Here are six ways to maximize the time you spend on social media. 1. Understanding Twitter Twitter is all about building relationships and having a conversation with your followers. Since Twitter is a conversation you can't tweet out randomly and then be silent for long periods of time . "Best mortgage rates as of TODAY!: 5 yr fixed – X.XX% 5 year variable – X.XX% (Prime -.XX%) Call me today!" – is an example of a tweet that likely won't build your business. Unless you make a real and sincere effort to connect with people on Twitter, you're wasting your time. Instead of sending out tweets about mortgage rates, you're better off interacting by using an @ reply. People do business with, and refer business to, people they know, like and trust. Become that person. Twitter is a also a great source of information and it can be very powerful, if you learn how and where to look. I use Twitter to find articles and follow people I can learn from. It takes time to find them, but once you do, what you can learn from others is awesome. Twitter Search is amazing and underutilized by many people, including mortgage brokers. 2. Understand Google+ Google+ isn't Facebook or Twitter. Know your audience. Google+ allows you to easily share with the Circles you have created. You shouldn't be sharing everything you post to the Public. If you're new to Google+ take the time to set up your Circles so you can share more selectively. You'll find that if you share with Circles that are actually interested in what you're sharing, you will have more comments and also have your content shared with others. If you want to talk about the mortgage business exclusively join a Community. Communities are great ways to find like- minded individuals and have genuine discussions. Don't limit yourself to business communities – look around and you'll find many other categories that may interest you. I have not found it useful to start a Google+ business page. As a starting point I suggest you spend more time on Google+ building your personal account. Facebook business pages are regarded as spam by many people. ere are pages filled with mortgage brokers blasting their rates. Google+ users don't want to be spammed by pages like they were on Facebook. Use Hangouts. Some of the best content is shared on Google+ over Hangouts. Connect with fellow mortgage associates and learn from one another. 3. Be web-wise It's important to ensure that the content you create and then share on social networks is high quality. If you share your personal content on social media it should always direct back to your domain and blog which you own, not the website your brokerage gives every agent, not a free blog service, but one you own. at way you are always in control of your content and you'll also be indexed by the search engines so people can find you in places other than just Facebook. I recommend using self-hosted WordPress rather than a cookie-cutter website that your brokerage gives to all its agents. It makes you look like every other mortgage broker working for that company and if you ever change brokerages you lose what you've built. Own your domain name and own your content. 4. Become an expert ere is nothing wrong with letting people know what you do, who you are and what you have accomplished but it's best not to do it all the time. If you only spend your time on social media bragging about how busy you are, what awards you've won and why you think you think everyone should get their mortgage through you, stop it! Become an expert. Give people quality content and share the industry's best practices so the consumer becomes more informed and recognizes excellence. Be a real person and give people a reason to be interested in you. en, when you share your business content people are more likely to be receptive. It's worth repeating: people do business with, and refer business to, those people they know, like and trust. 5. It's about sharing One of the best things about social media is it allows you to easily share content. is doesn't mean that you should only share your self-generated content. Every thing you post shouldn't have a link back to your website. Social Media is about sharing content not just broadcasting yours. Share content from others that you find interesting and educational more than you share your own. Always mention the source and link from your website if appropriate. People appreciate it and will be more likely to share your content if you have shared theirs. Six ways to win at social media Focus on the platforms where you enjoy spending time BY SCOTT DAWSON p40-43_Social Media.indd 41 14-01-27 11:46 AM