A Conversion Funnel helps you move Realtors from prospects to clients

Mortgage marketing and training that helps you attract producing Realtors certainly can enhance your earnings.

Of course, the tricky part is getting there. You'll find it easier when you learn the steps of a relationship conversion funnel and how to create one you can follow to convert Realtors into evangelists.

M + S = CF

M is for marketing and is about attracting Realtors. S is for selling and is about convincing them. When you combine both, you have CF - a conversion funnel. It's a series of steps that moves a Realtor to becoming your partner.

A conversion funnel sits at the heart of your mortgage marketing and training. It helps you identify where opportunities exist or where you're failing. If you know where Realtors drop off in your funnel, you can correct it and increase the number of agents who want to partner with you.

Unlike a sales conversion funnel, which steps include finding a prospect, conducting a presentation and closing the sale, the steps to the relationship conversion funnel for Realtors are different.

Macro-Conversion

The relationship conversion funnel begins on a macro level. Since relationships don't mature overnight, you initially market to the masses. It begins with gathering as many suspects as possible and converting into prospects.

A suspect is a Realtor you've identified and have added to your funnel. A prospect is a Realtor who responds favorably to your marketing.

A favorable response could be any positive action. The Realtor reads or replies to your email message. The Realtor expresses openness and doesn't shut the door stating how much they're loyal to another lender. All in all, a Realtor is a prospect if they do not reject the efforts of your mortgage marketing and training.

The next step of your conversion funnel is when a Realtor refers you a borrower for the first time. The Realtor becomes a customer and your conversion funnel moves from macro to micro.

Micro-Conversion

If macro conversion is about moving masses forward in your funnel, then micro conversion is about moving individuals forward. Why the difference? Because the number of Realtors who end up customers will pale in comparison to the number of Realtors you'll enter into your funnel as suspects.

Besides, your goals change dramatically the moment a Realtor refers you a client for the first time. It's no longer about mass marketing, but about selling one-to-one. The value of the Realtor has jumped exponentially and you have more than a single referral to lose, you have a life-time of referrals to lose. It's a big reason why a conversion funnel needs the most attention within your mortgage marketing and training. Learn how you can improve your mortgage marketing and training

Let's say you earn an average commission of $2500.00 per deal and your time of relationship with the Realtor is 3 years, the Realtor is worth $90,000.00 to you. With the stakes that high, it makes more sense to move the Realtor into a micro conversion funnel; one that includes the key milestones for building client loyalty.

Commitment & Acceleration

Just because a Realtor refers you clients don't mean they're loyal. There are degrees of loyalty and key milestones mark each one of the loyalty building process:

• Satisfied
  
• Believer
  
• Endorser
  
• Evangelist

Relationships are dynamic, not static. It's why they either grow or shrink. But if you forget about the relationship or assume they're loyal simply because they're referring clients to you, you're set up for failure. Your mortgage marketing plan needs to account for actions to prevent relationships from disappearing.

Satisfied only means you fulfilled your promises. Believer means the Realtor is referring more clients because they feel comfortable and know what to expect, but the relationship is still very new and competitors could steal it at anytime. Endorser means the Realtor tells other agents about you, while Evangelist means they convince other agents to work with you.

Modeling a relationship conversion funnel helps you identify which step is each Realtor and what you need to do to move each relationship forward. Imagine how much stress you'd minimize and how much you can improve your mortgage marketing and training by creating a relationship conversion funnel. It's like giving yourself a blueprint so you can recession-proof your business because you've created a process for converting a suspect to an evangelist.

The Next Step

Read about joining Agent Magnet and hosting your own Loan Officer Web Site to build an online community of Realtors interested in working with you.

Or you'll find my home study course as an excellent starting point. It's designed to help you master the fundamentals of marketing to Realtors.