Why Some Loan Officers Excel with Millennials and Others Struggle
There’s no doubt that millennials are a highly valuable client base, but not every loan officer finds them to be the easiest clients to attract. Building up your millennial business can create an important stream of clients, but often, loan officers need to ensure their strategy is right for this demographic. So, what are some of the most important things to keep in mind when it comes to millennials? Let’s dive in:
Authenticity
This is one of the most important elements of a marketing and client experience strategy for millennials. These clients want honesty. They want to have a sense of who you are, not just the company you work for. Millennials tend to easily spot overly salesy ads or gimmicky marketing tactics, and they usually skip right over them. So in your branding and in the actual service you provide, let your personality come through. Identify your values and get clear about what it is in your work that you love. When you lead with these, millennials will feel the difference.
Online Presence
To reach a large millennial audience, you need to be online. But this doesn’t just mean having a website and Facebook page. Loan officers who excel with millennials are consistently active online. They commit to this as a part of their marketing strategy, and they make a regular effort to engage with their audience, share new content, and maintain their presence. If a millennial encounters your brand online, the more detail and depth they find, the better.
Sharing Knowledge
A great way to reach millennials and build trust with them is to share what you know. From writing a blog post on the most common misconceptions of first-time homebuyers to walking your millennials through an explanation of one of their questions, loan officers need to get into the role of acting as a resource. Millennials want to be well informed when making their decisions, and the more loan officers can help with this, the stronger connections they can form.
Personalized Experience
When you’re thinking about the client experience you create for millennial clients, personalization is essential. A cookie-cutter experience isn’t going to earn you their reviews or referrals, and these are important ways to build your reputation with this demographic. Ensure that every interaction you have is specific to that client. Remembering those small details they share, being patient and fully present, using their name in conversation - even the smallest, simplest things contribute to the overall experience.
Do you have a substantial stream of millennial clients? Is this something you’re working to grow? Have you found any strategies that have helped? I’d love to hear your thoughts!