Marketing Ideas for Loan Officers

by Lisa McQuerrey; Updated September 26, 2017
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Loan officers are often expected to generate leads and develop new business, all of which can have an impact on earning potential and career trajectory. Before getting started, loan officers associated with banks, lending companies or mortgage firms should check with human resources or the organization's legal department about outreach efforts. The loan officer might be required to obey specific laws or company policies when marketing and promoting the company's loan offerings.

Offer Incentives

Incentive marketing is often a viable way to get new customers through the door. Take a look at your competition and offer better rates, term or conditions if you can. Quick loan review and approval can also be appealing to consumers who want to close quickly. Promote your incentives on the company website, email signature lines, though social media forums and in all printed advertising and marketing collateral. Consider offering a reward of some sort for customers who refer others to you, such as a gift card or restaurant gift certificate.

Cultivate Repeat Business

Stay in touch with previous clients and generate repeat business. For example, send out a regular electronic newsletter to past customers to keep them apprised of interest rates, letting them know when it’s a good time to refinance or take out an equity loan. Anticipate when past clients might be in the market for a new loan: For example, a few years after they buy a new vehicle, they might be ready for a trade-in and new car loan; if they have college-aged kids, tuition assistance might be on their minds. Keep track of customers and make yourself available.

Develop Referral Networks

Network at business functions and join industry organizations related to the lending field. Develop mutually beneficial affiliations with others who can refer business to you, and vice-versa -- for example, title and escrow companies, real estate agencies and estate planners. Offer to speak about lending options at small-business seminars, community centers and in other forums where you can market your services to prospective clients.

Use Tandem Marketing

Use your referral networks to conduct co-op advertising ventures. For example, co-market your loan products and services with a reputable real estate agency to reduce costs and reach a larger audience. Buy a joint print add or billboard or share email marketing and lead lists. Take out ads in college planning or new-home-buying guides. Use social media accounts and websites to link to complementary professional organizations and ask them to do the same for you.

Offer Giveaways

Distribute promotional items that prospective borrowers are likely to keep for a long time, such as pens, coffee cups, mouse pads or refrigerator calendars. Make up fliers with your name and logo that feature credit repair tips, information on how to save for a new home or details about how to calculate interest rates and loan payments. Pass these out when you attend community festivals, home shows, festivals, conferences or business expos.

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