TD Canada Trust teaches us a valuable lesson about how to brand a hot new mortgage product around its privileges – this can make all the difference when it comes to offering consumers a simple and clear message about why a particular mortgage makes sense.
TD Canada Trust introduces the Mortgage Vacation. What exactly is a mortgage vacation? Well it essentially allows you to make a lump sum payment, or pay more towards your mortgage payment to be able to skip up to 4 mortgage payments.
This is an incredibly useful new mortgage product because it allows people that are facing time off work, a baby on the way, continuing education, etc., to have a brief reprieve from their mortgage payments.
I mean, who doesn’t want to be able to take a vacation from their mortgage payments, right?
As you well know, many of the mortgage products you have offer perks like acceleration amortizations, prepayment privileges and even cash back programs. Get creative and brand your products so that they have a quick and catchy name that means something to your audience.
Also, reach out to your lenders. Many banks like TD Canada Trust are rolling out new and innovative products. Jump on to their product branding. You don’t have to wait for a BDM to make a visit out to your office – don’t wait for them to reach out to you, reach out to them!
Our challenge to you. Send an email to each BDM at each lender asking them what new products they have rolled out in 2015!
Don’t just target lenders whom you already deal with! Reach out to all the major banks and MICs to see if there is something you have missed that you can take advantage of. Do they have any materials that you can leverage? Then incorporate these products and materials into your marketing.
This TD Canada Trust Mortgage Vacation product is an excellent example! We are into the second month of summer vacation season and what a great way to draw a connection to this Mortgage Vacation product. Think seasonally. When looking at all the great products you have to offer, which tie in nicely with the season?
Recipe to mortgage agent broker success:
- 1 cup of sales
- 1 cup of underwriting/due diligence
- 1 cup of relationship building
- 3 cups of marketing
You see it’s not just about the products you offer but about how you market them! Make use of every tool available.
Want to find out more about what some of these tools are? Contact Purview For Mortgage Brokers today by calling 1.855.787.8439.