So my first question was: who is your target market? Tell me a little about the clients you're looking to attract.

?Anyone that needs to refinance an adjustable mortgage,? he laughed.

Anyone? Now that's a tightly defined demographic if I ever heard one.

So I politely educated this young grasshopper about why he needs to narrow his base of opportunities?just so he doesn't mail 50 million letters to all homeowners in America with an adjustable rate mortgage.

I suggested, therefore, that he target a defined geographic area, and maybe homeowners with a house valued at over $300,000 and who refinanced or purchased their home more than two years ago.

?Sure, sure,? he said.

?Great. So what's your offer?? I asked.

?You mean, how much I can pay you??

?No,? I said, ?what are you offering your prospects so they'll immediately rush to the phone and call you??

I heard then what I have heard SO many times before...

An impassioned trashing of the competition:

...They? re only in it for the money; they don't care about their customers; they don't understand the products out there and how to use them, they got their license and immediately began selling?and then most of them are out of business in a year or two... So on and so forth.

And then I heard the obligatory self-praise oratory:

That is... how much he cares about his clients; how many years he's been in business; how much continuing-ed training he's had; how much value he brings to the table; how much great service he provides. So on and so forth.

?Great, so what are you offering your prospects so they'll immediately rush to the phone and call you?? I repeated.

?...What do you mean??

?Well,? I asked, ?why should Mr. and Mrs. Homeowner call you and not the other mortgage broker who is saying the exact same thing? After all, they all DO say the same thing?how much great service they provide; how much they care about their clients?don't they??

?Yeah but...? So he then repeated, with even more fervor, how much more he cares, how much better service, etc., etc.

?Let me ask you this,? I said, ?How is your prospect to know that you're better, that you're the good guy and not the bad guy? Telling them that it's so, won't make them believe it?now will it? Somehow you've got to PROVE it.?

Then I told him about the importance of testimonials, third-party endorsements, accreditations, etc., etc.

?And all of that will help you prove to your prospects that you are who you say you are. But that's still not enough. Because if the broker down the street has any marketing savvy, he can and will prove it too?quoting his track record, his honesty, his competence, blah, blah'in all of his marketing promotions.

?So you need a unique selling proposition, don't you,? I said.

?Huh??

?We've got to find something that's unique about you; about the way you conduct business, how you reward your clients for their loyalty?how you will do something specific, measurable and desirable'so that these prospects will want to pick up the phone and call you.?

?Like what??

?Offer them something that your competition doesn't?

?Like what??

?Well, certainly not good service, great value and a low interest rate. But it could be a guarantee of some sort, a gift related to home ownership, or a free report, like ?The Five BIG Mistakes Homeowners Make TWO Days Before Refinancing a Mortgage?that Always and NEEDLESSLY Costs Them THREE THOUSAND FIVE HUNDRED and FIFITY-FIVE DOLLARS!??

?...Something no other broker is offering'or saying?something that the prospect will find useful and of value.

?And, you must also provide urgency or scarcity, or both. For example, make it a time or quantity limited offer, but explain why! And not only must it be believable'it must also be true!

?Finally, deliver your package in a way that will guarantee it will be opened and read.?

?What do you mean??

?Well, I can provide you with the best lead generation package ever written, with the best offer ever imagined?but if the envelope doesn't get opened, what good will it do you??

?So how can we guarantee that the envelope will be opened??

?Now,? I said, ?you're thinking like a marketer!?

And so I gave him some ideas, of course. And I'll tell you what they were... in a future post.

Till then... own your market.