I admire people who plan their day down to the minute and stick to it. Unfortunately, my creative brain does not allow me to be that precise. However, I do understand the importance of a plan and I try not to allow my marketing madness to interfere. Staying on task for me is a real challenge and if I did not have a plan, I am not sure where I might be today. Therefore, I wanted to provide you with some of the lessons I have learned and hope they help you in your marketing efforts.
Lesson #1: My first lesson in marketing was to understand there is no one definitive answer or solution to marketing (which can pose somewhat of a problem without a clear direction). I’ve also learned that if what you are doing is working, you should keep doing it. That said, you should always keep your mind open to new ideas, formulas, changes in the world, and anything that might change or affect your business to further increase your success ratio.
Most of you reading this article are like me. You are a creative person and because of that you are in need of a mindset full of new ideas and even a review of the old ones. Marketing is an ongoing process and the ideas and systems for you must be constantly reinforced. Why? Because life gets in the way and we all get sidetracked doing something else and of course fail to come back to the real core of our existence, marketing.
Being creative can be a curse. Often an idea you have is shot down, because many see the process as too abstract or too risky. In those instances, some may not think of you as being creative, but don’t let that stop you!
Lesson #2: The most creative ideas can come to you at the strangest and most unusual times. It has been my experience that this is a normal process and I would encourage you to embrace it. For example, you could conceive the idea on Monday, research on Tuesday, stall on Wednesday, think about it on Thursday, and on Friday decide it’s too cumbersome to achieve. There is no reason for us to apologize after all; given enough time we can build the Brooklyn Bridge. However, in our world we need to set a deadline to get it done. Deadlines are one of the most important ingredients to the successful implementation of marketing plans.
Lesson #3: Your attitude can sometimes make or break your marketing approach. If you are just starting out you need a starting out attitude. A starting out attitude includes following a plan, being excited, and being focused on the tasks at hand. If you are seasoned, try to recapture that same starting out attitude. Your starting out attitude can lead you to life’s success and business success.
Lesson #4: Don’t be intimidated by the task at hand. Chances are it might take you longer to reach your goal than originally anticipated. It will not be long before you notice that you wait longer before panicking to reach the deadline because you know how much pacing is really needed. Some of the greatest ideas you’ll ever have will come when you’re new and inexperienced. The secret is avoid being overwhelmed by those ideas and immediately say “no”, but to allow your creative mind to open up to new ideas then implement a plan to make your idea a reality.
Lesson #5: One of the least expensive ways to learn how to market is to work with an expert, even a minor expert, on their particular marketing project. Pay that expert for the opportunity if you have to, although most will pay you for any help you can give to make life easier for them as well as you. You will quickly discover what works and what was not as important as you might have thought.
Lesson #6: As marketers in the senior world, our goal should first be to seek to understand then we can go on to solve the need or fill the want of our senior client. Remember that servicing the needs and wants of senior clients is what marketing is all about, whether you use direct mail, television, telemarketing, or another vehicle for finding your senior client.
Lesson #7: Credibility, in senior marketing is king. How credible you are in your consulting and advisory capacity will dramatically affect all costs, (particularly sales costs) and ultimately your risk in doing business.
If you are seasoned in the reverse mortgage business you currently have a track record. Somewhere along the way you have solved somebody’s need or want. Some senior client has paid hard-earned cash for you to solve their problem or concerns.
In your reverse mortgage business we all know that our product is good and in many cases can solve someone’s problem. You are known by someone who has allowed you to do a reverse mortgage for them. This senior client now trusts you. They paid you once and you delivered what you promised.
Stop and think,” What is your Credibility score and how do you rank yourself and what can you do to increase awareness and credibility in your marketing area?”
Lesson #8: As humans, we are creatures of our comfort zones. Once we find our comfort zone, we love to stay there. We’ll even risk getting a little less as long as we don’t have to change. That’s one way scam artists prey on seniors. As an ethical businessperson you must use, not abuse-this understanding of human nature.
Once a client has trusted you, they will use you again or most likely recommend someone to you. Don’t break that trust, because a higher being may forgive you but your senior clients never forget and will tell their friends if you fail to measure up.
Lesson #9: Senior marketing requires an art form mentality! We need to derive a strategy that moves our client from being a suspect to a potential prospect. In senior marketing this is no easy task. The senior mindset is opposite of what you might think.
You might think the senior has a limited time to make a decision, according to our common sense logic; let’s face it we’re not here forever. However, just the opposite is true. If you put yourself in the shoes of the senior, every dollar that goes out most likely cannot be replaced, since a regular income is no longer an option, and when expenses continue to rise and income remains the same, then it is no wonder our senior clients’ mindset is opposite of how you might be thinking.
Your marketing challenge is to carve out as much business as possible without breaking the bank. Many of us endure what I call panic marketing. Panic marketing occurs when business is really bad and we panic, run ineffective ads, which result in extreme costs and no leads. Our goal is not to panic. If you have a plan, you don’t have to panic.
 Sam Collins is the President of Sam Collins Reverse Marketing, LLC and Founder of REMALO, the Reverse Mortgage Association for Loan Officers. REMALO is a web based National sales, marketing, training, and full service center, created exclusively for Reverse Mortgage Loan Officers, Correspondents, Branch Managers, and key executives, and brokers. www.remalo.org
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