McBride Marketing Plan
McBride Financial Services is a startup mortgage lender headquartered in Boise, Idaho whose goal is to be the preeminent provider of low cost mortgage services in the five state area of Idaho, Montana, Wyoming, North Dakota, South Dakota. Their focus will be the processing of conventional, FHA, and VA loans not only for purchasing but for refinancing or interest rate reduction. MFS will target professionals and retirees that may be purchasing a primary or even secondary home, and families and/or individuals purchasing recreational properties. The purpose of this paper is to outline a ...view middle of the document...
If other companies are offering more competitive interest rates, a concentrated effort should be made to understand how the competitors can afford to make these offers. Obtaining this information can help streamline business processes, which include faster application approval and quicker closing times. Once this information is obtained, McBride Financial Services can turn their focus away from staying competitive in the market and can concentrate on customer satisfaction. The goal is to create a friendly and pleasant business experience that is recognized and advertised by the customer.
Once the research process has been completed, another important step is finding the most effective media and advertising outlet. In today’s economy one of the most cost-effective media types for advertising is the Internet. The Internet has the ability reach a larger audience than the traditional printed flyer advertisement and information can be changed or updated “on the fly”. Most importantly, the Internet is much more cost-effective “per view” than any paper advertising method. Furthermore, companies can get better viewer results through top search engine listings. Of course there is a nominal fee associated with having your company listed on the first page of a search engine’s “results page” but the probability of a customer searching for a business or product beyond the second or third page is very low. In fact, many customers are more likely to choose a company from the first page or first few listings than to spend time doing detailed research. Once the client selects the site, the goal is to provide information that is enticing and alluring to the potential buyer with the aim of getting them to complete an online application. One distinct Internet advantage for the customer is the ability to perform “no hassle” comparisons. This gives the customer the opportunity to make an honest, educated comparison of one or more companies and even formulate questions that aid in personal research....