- It Increases referrals from referral partners
“Either you’re going to tell stories that spread, or you will become irrelevant” – Seth Godin
Once you have set up a new referral relationship, you need to actually get them referring to you. You need to give them a simple process for when and how to introduce you to their client. That is exactly the purpose of our cobranded books. All the referrer needs to do is to give them a copy of our book with a recommendation to call us, or even better, permission for them to pass the client’s number onto us. It is also a constant reminder to the agent about us, because our book is with them all the time. Proximity pays.
- It fosters reciprocity
I firmly believe that the best way to start a business relationship is by giving because it creates a sense of reciprocity, a nudge that they should respond by giving you something.
Giving brochures or other marketing materials doesn’t cut it, because that is a request from you for them to do business with you. That’s not giving them something, that’s asking for something from them.
By giving them something that is for them and about them, it is a good way to establish the proper basis for your relationship — you have given them something, they should return the favour in some form. It’s just human nature to want to help others who have helped you — and just common sense to help someone if you want to keep getting their help and
stop them helping your competitors instead!
- It is ‘Marketing by Stealth’
“The best marketing doesn’t feel like marketing.” – Tom Fishburne
When you give someone brochures and business cards, it is clearly marketing material. It talks about you and your business. Sure it may go into detail about how you help them, but your clients immediately identify it as advertising— when it arrives in your mailbox it’s called junk mail for a reason, because that is how people perceive it.
A genuine book, however, even if its sole purpose and effect is to generate leads for you, is not seen as marketing by your clients — it is ‘marketing by stealth’ and therefore faces far less resistance.
In fact, people welcome it. I have personally bought books about topics I was interested in, then purchased products or further from the authors of those books. So not only did I not see their book as marketing for themselves, I actually paid them money to advertise to me.
- It creates a ‘Category of One’
“Marketing is no longer about the stuff that you make, but about the stories that you tell.” – Seth Godin
Mortgage Brokers are salespeople. That is the category the public puts you into. I don’t present myself as a Mortgage Broker, I am in a different category of people who write books about how to become mortgage free faster, and I help my clients do just that.
Most people who go into business just follow what everyone else is doing and copy them, assuming they are doing what works. Don’t compete with everyone else who has ‘Mortgage Broker’ and ‘Home Loan Specialist’ on their business card. Your book is your Unique Selling Proposition. The book answers this question in your client’s mind: ‘Why should I choose to do business with you versus any and every other option available to me in your category?’
- Creates plenty of focused content as a by-product.
When you have a book you have plenty of content that you can re-purpose on your website, sales letters, email campaigns, blog, wherever. There is nothing wrong with re-using your book’s chapters because we are trying to reinforce our message. Repetition is a key component of any marketing. We aren’t trying to be everything to all people, just the master of whatever we have written about.
- It reduces price sensitivity
People who have read the book don’t call me and ask ‘what is your best rate?’. They aren’t viewing me as the provider of an interchangeable commodity. It is much easier to get to the conversation we should be having, which is tailoring a solution to their situation.