Written By: Karen Deis, an interview with Ralph Watkins, www.WebinarAGoGo.com.
Video messaging, marketing, and training are all the rage these days, and it ain’t going away any time soon.
A few years ago, David Kuiper, First Place Bank, used e-video to “recap” conversations with clients he had never met, so clients would see the face behind the telephone voice. Good idea but timing is everything and video was still in its infancy. Complicated to use, it took up a lot of storage space, involved slow downloads, and clients had a tough time viewing—that is if they could view at all.
Video has come a long way baby!
Ralph Watkins, www.WebinarAGoGo.com started using video because he said, “I was just too darn lazy to type long emails. What took me 20 minutes to type, took me 3 minutes to convey using video.”
So I sat down with Ralph and asked him a few questions about how loan officers can use video in their everyday business, and some of the new technology out there that is easy to use.
Karen: So why are videos so powerful these days?
Ralph: The time is perfect - the right environment (think Facebook, Twitter, YouTube, social networking sites). People are using these because they want information—and they want it in sound bites.
The average amount of time a person spends on a website is between 45 seconds and 2 minutes. For all the work and the money you spent to create a great website, and then to have people leave after 45 seconds. However, you have a video or a webinar you can email to them, people will watch it. Would you rather have them stay for 45 seconds or view a 45-minute webinar?
Karen: What is www.WebinarAGoGo.com all about?
Ralph: It’s a membership site where there are a ton of pre-recorded video webinars loan officers can use to send to clients and real estate agents. Or they can record their own videos/webinars and we will host them on the site for them. Just small samples of some of the webinars are:
- 10 Ways to Sell Your Home in a Slow Market
- 5 Secrets to Negotiating a Real Estate Contract
- First Time Home Buyers: How to Purchase Your First Home
- Credit Scoring Tips
- Top 10 Things You Need to Know About VA Loans.
- (and the list goes on).
Karen: Would you give me an example of how loan officers might use video to market themselves to real estate agents?
Ralph: I started out by recording a weekly tip. I called it the Wednesday Minute, but it was about 4 minutes — don’t make my mistake — if you call it a “minute” stick with one minute. Yeah, people complained about the 4 minutes — who knew the 3 minutes would make a difference. So I changed it to the Wednesday Tip. I suggest that you pre-record a tip for real estate agents and send weekly.
Karen: So where can loan officers find content?
Ralph: Search Google & Bing for content. Type in a few keywords (like Mortgage shopping tips, mortgage rules) you’ll find articles, blogs, videos—you name it. Repeat what is written/recorded, but in your own words…or if you quote someone, mention their name.
Here’s a great tip: You can automatically receive content by typing in “key words” and using the Google Alert tool. When someone posts something on the Internet, using the keywords you typed in, you receive a notice, with a link.
Karen: What do you recommend for content?
Ralph: For real estate agents, stay away from quoting interest rates or what the Federal Reserve is doing this week. Use video to “brand” yourself as the go-to loan officer in your area. It could be a rule change (visit www.MortgageCurrentcy.com); it could be something that will help them increase their business; it could be a new mortgage program—or a story of how you got someone approved (who might have been rejected from another mortgage company). Every now and then, I recommend that you record something personal about yourself — your vacation trip, the art class you are taking, etc.
Karen: And for prospects and clients?
Ralph: I recommend a two-pronged approach.
First: Record 2 or 3 short videos with a couple of homebuyer or refinancing tips and post them on your website. When talking to them on the phone, ask them to visit your website. Have a link asking them to opt-in for something free (like a white paper) so you capture their contact info. Content for these videos needs to be more generic and short (no more than 2 minutes)—like credit scoring tips, top 3 mistakes people make shopping for a mortgage, what are closing costs things that will apply to everyone.
Second: When someone applies for a loan with you, record a personalized video, mentioning their name, introduce your processor and closing agent, and maybe make a comment about the transaction—like “I know that you want to close by June 15…”
Karen: With videos posted on the website, how do the auto-responders work?
Ralph: There are 2 ways…for the webinars that are already on the site; I have set up a series of auto responders for subscribers. If a loan officer posts their own videos (instead of using ours) they would create their own auto responders. The system is completely customizable.
Karen: Can’t loan officers create their own video and just use YouTube.com?
Ralph: Certainly. But the problem is that when you direct your client or real estate agent to view your video on YouTube, your competitors’ videos will show up there, too.
Some loan officers don’t like to produce their own videos—some just don’t have the time…so we’ve done the heavy lifting for them.
Karen: So how is Webinar-a-Go-Go different?
Ralph: Think of it as a site where all you do is add your name and info to the webinar and pick and choose which webinar you would like to send to them. It’s a “Done For You” library of videos so if you don’t want to record videos yourself (or want to get started right away) you can choose from a whole series that are ready to use right now.
If you want to record your own, it’s also a place where you can keep all of your videos in one place—kinda like YouTube, but it’s your own personal storage space on the web.
Plus, let’s say you want to hold a webinar for 10 first time buyers you talked with last week, and you send them an email invite, internally set up a date and time you want the video email or webinar notice sent — and it is sent automatically — you don’t have to remember to send it out, like on Wednesday.
It also has the ability to take a webinar you have done, with video, PowerPoint or even screen shots and post them on the site. You can also invite people to the webinar. It keeps track of who viewed it.
Karen: How are some loan officers using it now?
Ralph: First, it’s a great way to build your email lists. Think about being on the phone with a client, asking them for their email address so you can send them a link to a webinar or video!
And, there are basically 3 basic video formats…time-sensitive generic videos, and pre-recorded webinars! With time sensitive ones, you might want to record and send them a “welcome to my mortgage team” video. Generic ones? Create short videos like the ones I talked about before.
As for webinars — this is really cool because you can use the ones that are already recorded OR record a webinar, host it on the site, and email the link to view.
Karen: Okay, how does it work in real life? Let’s say a 1st time buyer calls you for rates, you get their email address and email them your 1st time buyer webinar!
Ralph: Ask for the person’s email address and permission to send them the first time home buyer webinar already on the site. You might even want give them 2 or 3 other webinar titles and ask if they would like links to view those webinars, too.
Karen: My recommendation is that loan officers don’t send the other webinars until they have called to confirm that they have viewed the first one. It’s also a way to keep in touch, right?
Ralph: Believe me, no one else is doing it — not yet anyway…and it’s a cool way for clients/real estate agents to get to know you and for you to provide great content over and over again.
Karen: Any last words of advice?
Ralph: Give video a try. Remember, if you don’t like what you record, use the ones that we have already done for you!
Karen: Thanks Ralph and check out this really powerful site www.WebinarAGoGo.com. Use the demo link. Check out the Done 4 You Library Tab. And, the help desk is to die for.
Copyright - 2010 - LoanOfficerMagazine.com
