The website will make the processing of applications easier and faster. With incorporating this new technology McBride anticipates that their financial situation will even out within a six to eight month period from the time this operation starts. They hope to become more profitable within one year of operating. McBride has a total of five offices and each is staff with a licensed broker, all brokers will have access to the website they even will be able to access the site from other locations, having this capability Is Just an added bonus for the customer.
The application that McBride Financial services has Is one of the simplest mortgage applications that can be accessed through a broker or via online through he website. McBride offers a range of loans; conventional, VA and FAA and the steps are fairly simple once a customer is approved. Here are the services that are offered upon approval, appraisal, inspection, a credit report and mortgage, the charge for these services Is set at $1 500 dollars. With McBride Financial Services they will arrange for all Inspections and appraisals, which are done by a local vendor.
All vendors have to be licensed in order to perform these jobs and customers will need to keep in mind that there could be a delay in application process as well as closing. Although McBride is just in the ginning phase and they will be opening offices in SIOUX Falls, Idaho, South Dakota and Boise the home office will be Boise. The reason Boise was chosen Is due to the fact that Its economy Is steadily rising. Families, individuals and retirees all who are seeking a primary or secondary residence.
To reach out these consumers McBride will need a mailing list for all the neighborhoods that meet the income requirements and will be able to be approved. Start up cost for this marketing plan is around $50,000 and advertisement will be through the local realtor offices, hand-outs, senior centers and mailers. Once this information is distributed the up flow of traffic will be generated to each designated office. Another thing to do is check out the competition and see what they are doing as well as how they are doing it.
In doing this research McBride will be able to determine what is or isn’t working for them. This will also determine the competitions strengths and weaknesses, which will allow them to build on that. The number one goal of McBride Financial is to be the number one provider for low cost mortgages using the most recent technology but in order to reach that goal he marketing strategy mention in the beginning will have to be in place. The main thing that needs to be done is determine the demographic of their customers and their needs.
Once this is done they will be able to figure out how to better serve their customer. All of these steps will guide McBride Financial Services reach its goal of better service to their customers. Providing detailed and accurate information to their customers will allow them to make informed decisions that will ultimately lead them to make the best decision for their needs. Reference: WEB LINK: Skillful (2012). Marketing Essentials: Introduction to Marketing.