McBride Financial Marketing Plan
Based out of Boise, Idaho, McBride Financial Services is a small mortgage lender that is in its beginning stages. The firm’s focus will be in standard, FHA, and VHA loans for home refinancing and purchasing. The company hopes to increase its offices into Wyoming, Montana, North Dakota, and South Dakota. “McBride Financial Services will be the preeminent provider of low cost mortgage services using state of the art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, and South Dakota.” (University of Phoenix, 2005, 2011, para. 2). McBride Financial Services has decided to redesign it’s marketing plan so they can reach individuals that fit the profile of the type of consumer that
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Braime (2012), "Social media is an essential marketing tool. Not only can it expose your work to a world-wide audience, but it also gives you a chance to convert those audience members into paying clients.” (para. 1). The choice to move to social media advertising is an appropriate choice to connect with families and professionals to get word out about McBride Financial Services.
Radio and television advertisements focus on a wide variety of age groups. They break down the schedule to show shows at different times. The Prime Times are from 7PM to 9PM when families can watch a show together. They strategically place particular advertising to market to these individuals. Research must be done in order to determine which television and radio stations have the highest volume of listeners and viewers that fit this genre.
Newspaper advertisements focus on individuals that are around the retirement age and will only be effective in areas that have a high population of individuals that fit into this age group. Research into various areas to see where these target populations are highest will be important to determine where to advertise as well as in which newspapers, and then McBride Financial Services will see the business from the retiree targets draw to them.
Internet advertisements should be done strategically using niche marketing. This is a process of advertising a service or product on certain websites that potential clients would be viewing.
The use of social media marketing has become a standard way in which organizations advertise their products or services. Social media marketing allows consumers to have immediate access to other consumers reviews or to post a review about a product or service. There is engagement between the company and the consumer (Evans, Dave 2010). Social Media emerged in the late 1980’s when websites such as Prodigy, Compuserve and America Online. Prodigy was first of it’s kind and was known as a ”consumer online service”. Half of the page is devoted to advertising. Facebook, Twitter, Myspace, Hi5, Bebo and Orkut are all social media platforms that are utilized as platforms today.
One of the key roles of social media from a marketing perspective is the development of a client based platform. It is becoming an increasingly important part of any business’s marketing. Businesses can utilize existing online platforms to build networks of current and potential clients. By being active online allows businesses to connect with their customers in innovative ways to become a trusted source of information and convey the passion they have for their industry.
Moving forward, social media has been a major convenience and reward to virtually everyone. On an individual basis, social media allows friends and family both near and far to communicate with one another. Also, businesses are flourishing through the use of social media. Advertising has never been easier. Horn (2013) states, “Our profession, unlike any time before, is demanding we become social media (…) experts” (1). Horn (2013) also states, “More than half of reporters (55 percent) use Twitter and Facebook to source stories” (1). Social media has greatly benefited business life and personal life.
McBride Financial is looking for a complete redesign of their web presence We created the current Web site when we first had the idea for McBride Financial Services. As we have continued through the business start-up process, we have honed our concept of how McBride Financial Services will position itself in the market and how it will run its operations. We're not sure that the original Web site design, will be able to meet our needs. The Web site will be vital for
We are successfully utilizing social media as a powerful way to gain positive exposure and connect with our internet-savvy customers in a global and local level. We rely heavily in word-of-mouth advocacy”. (John Mackey, 2012)
A one stop mortgage provider is the marketing strategy McBride Financial Services use to sell its product in the five states where the company operates, Idaho, Montana, Wyoming, North Dakota, and South Dakota. McBride’s business philosophy is to provide each customer with efficient and effective processing of mortgage application from inception to closing. The company prides its self in offering preeminent low cost mortgages to professionals, retirees, families, and individuals using state-of-the-art technology.
McBride Financial Services is a virtual organization at University of Phoenix that provides mortgage services for its members. McBride has as its stated goal to be a "preeminent provider of low cost mortgage services using state-of-the-art technology in the five state areas of Idaho, Montana, Wyoming, North Dakota, South Dakota." McBride provides serves for three primary groups of mortgage seekers: professionals purchasing a primary or secondary residence, retirees purchasing a primary or secondary residence, and families and/or individuals purchasing recreational properties.
The media we chose to put an emphasis on is radio, Internet and cable television. The percentages for each are radio 40%, Internet 30% and cable television 30%. For radio we have strategically chosen to place our advertisements on the weekday morning drive time from 6am to 10am and on weekends from 7pm to midnight. The vehicles chosen for Internet are the websites iTunes, ESPN and iHeart Radio. For Cable Television services we have chosen the vehicles Spike TV, Food Network and ION.
Social media is not new. Facebook has been around since 2004, YouTube since 2005, and Twitter in 2006. What is new is how social media sites like Facebook, YouTube and Twitter are affecting the way businesses market their products and services. Never before in our history have consumers been able to communicate so effortlessly with each other and with the businesses they frequent. Never before have businesses been able to interact and react to customer feedback so quickly and efficiently. However, just because businesses have the ability to use social media for their marketing and advertising efforts, does not necessarily mean they should. This paper intends to
Mastered Mortgage Solutions LLC is an Illinois based limited liability partnership that specializes in consumer mortgage lending operations with a primary focus on being a full service mortgage lending and real estate finance training and education, quality review and risk management company that is geared to equip Mortgage Bankers, Mortgage Brokers, Mortgage Investors, Credit Unions and Community Banks in traversing the new regulatory and compliance landscape that currently exists in the mortgage banking industry. In today’s post economic crash lending environment mortgage originators are under tremendous pressure to evaluate current business practices and adopt measures that will align business practices with mandated regulatory and compliance requirements. Mastered Mortgage Solutions LLC makes available a variety custom tailored education, training, quality review and risk management packages for mortgage lenders to take advantage of to insure that all areas of lending operations meet current regulatory and compliance standards. Mastered Mortgage Solutions LLC will leverage knowledge and skill to achieve optimum outcomes by working seamlessly with our clients. In addition, our services support business process improvement to help our clients stay competitive and compliant in the current environment of government lending
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