The Yellow Pages section of the traditional telephone book has been a simple advertising technique since the invention of the direct-dial telephone. The ad listings are generally so benign that some professionals, such as attorneys, would use the Yellow Pages exclusively as a form of advertising for ethical reasons.
Newspaper ads have also been a very traditional form of marketing for locally based businesses. But the mortgage marketing industry has become very competitive in the midst of the housing crisis and mortgage marketers find themselves developing a more comprehensive marketing plan for product movement. Though newspapers are still part of the media outlet combination, the Yellow Pages are becoming a victim of changing times in many circumstances.
Today’s mortgage marketers are much more internet savvy and realize that the market size has been enhanced by instant and broad communication ability. Potential customers are also being steered from traditional forms of information. The telephone book itself, though it is still issued for those who are not yet cyber-connected, is possibly becoming outdated, also.
Contemporary mortgage marketers develop a marketing message and find their target audiences. After they implement the advertising plan they make every effort to track their results. The housing market collapse has been a nightmare for many in the industry, but the natural correction of the market creates new sales opportunities and, for many potential customers, this is the time to buy.
Merely having a listing in the Yellow Pages is no longer the best of marketing plans, though the Yellow Pages are accessable via the internet. In smaller communities where the mortgage marketers can rely on local top-of-mind-awareness, a simple Yellow Pages listing may be as effective as any other, depending on volume and goal. But if the goal is based on increased sales and growth of the business, it is imperative to broaden the advertising scope and direct the mission at developing as many leads as possible.
Of course, as long as the good old-fashioned phone book is still printed, there is nothing wrong with developing a traditional Yellow Pages advertising plan as a backup. One advantage is the ability to list cell phone numbers within the advertisement. Another advantage is the fact that conventional customers still buy, just like the cyber community, and marketing is still about getting the message out to as many people as possible. But, merely having a Yellow Pages listing is often ineffective.