McBride Financial Services McBride Financial Services Marketing PlanDarren Jackson BSA/310 Terrell Potts November 24, 2012
McBride Financial ServicesMcBride Financial Services is a start-up mortgage lender headquartered in Boise, Idaho. Thefirm provides low cost mortgage solutions for conventional, FHA, and VA loans for individualsseeking to purchase or refinance a home. The company intends to expand its operations intoWyoming, Montana, North Dakota and South Dakota, therefore, the firm has decided to improveupon its current marketing plan so that the company is able to expand and reach individuals andconsumers that are more likely to fit the profile their services are created to target. For McBride Financial Services to be successful in expanding its company and improving inits ability to reach its target customers, the firm must develop a marketing campaign designed toallow McBride Financial Services to study the buying habits of individuals. This will give themthe opportunity to market to certain types of individuals that are more likely to purchase theirservice instead of wasting money advertising in a general region.McBride Financial Servicestargets professionals, retirees, and families so it is important that they choose media that thesetarget audiences focus on.With today’s technology, there are more marketing choices than everonline, offline, and in-person. McBride’s overall objectives, is their budget and their targetaudience, which will determine the best types of marketing media for the company to use. Conducting consumer market research will allow McBride Financial Services to study thebuying habits of individual people. There are several marketing media tools that McBrideFinancial Services could use to promote their services. One way of doing this is public speaking,which can be both a source of income and a way to get your product or services known ton an
McBride Financial Servicesinterested audience. McBride’s achieve this by joining and organization that synchronizes withtheir interest or business, and network to find opportunities and customers.Electronic media is akind of media which requires the user to utilize an electric connection to access it. This is knownas ‘Broadcast Media’. This form of media includes television, radio, and new-age media internet,computers, telephones, etc. These types of media present is great for McBride Financial Servicebecause television appeals both the auditory and visual senses, and hence is an importantcommunication devices as it beholds the attention of the audience. Radio has a significant reachto a target as well. A considerable number of Americans tune into radio every week while ontheir way to work. Advertising on the radio with catchy jingles and phrases is a tried and testedmeans of communication. Television and radioadvertisements should be designed to specificallycater to families who are looking to purchase a residence or recreational property or relevanttelevision or radio stations. Research must be done in order to determine which television andradio stations have the highest volume of listeners and viewers that fit this genre.Mobile phones have become a boon to mankind. It has made communication possible at anytime, and form anywhere. Nowadays, a smart device like a mobile phone is not only used forinteraction, but also for other technical utilities like operating pumps form remote locations, etc.Today, we can stay in touch with the whole world via internet on our mobile phones. Internet isthe most important device of the new age media and is one of the best tools out there forMcBride Financial Services to market their services. The discovery of internet can be called thebiggest invention in mass media. Live updates can reach customers simultaneously as the eventsunfold. The internet has inspired interaction and connectivity with businesses and organizationthrough its social networking medium. The internet can also help businesses impacts others mass
McBride Financial Servicescommunication through the following mediums; e-mails, websites, podcasts, eforums, ebooks,blogging, internet TV, facebook, twitter, and YouTube. There are many ways for businesses tolearn about internet marketing and the internet is the premiere source for finding them all.McBride Financial Services should start off small when using internet marketing. And once thefirm has gather enough data that can be analyzed in order to determine how well their onlinemarketing is working they can begin designing online marketing campaigns for the other targetaudiences they cater to. Customer satisfaction research is most likely the last type of marketing research that McBrideFinancial Services will need to preform to allow the firm to gain an understanding of howsatisfied a customer is with the overall buying experience they have had. When conduction acustomer satisfaction survey, what the business ask the customers is important. How, when, andhow often McBride ask these questions are also important as well as what McBride do with thecustomers answers to their questions. There are several ways McBride Financial Services can asktheir customers whether or not they are satisfied with the company’s products, and the servicethey received. They can ask them: Face to face. Calling on the phone (with permission). Mailing a questionnaire. Emailing a customer satisfaction survey (be careful not to violate spam laws).The best time to conduct a customer satisfaction survey is when the experience is fresh in thecustomer’s minds. If the business waits to conduct a survey, the customer’s response may be less
McBride Financial Servicesaccurate. They may have forgotten some of the details or confuse McBride with some othercompany.McBride Financial Services has an opportunity to reach a larger audience by promoting amarketing plan to help target more directed audiences. Designing a marketing plan usingdifferent media streams allows McBride Financial Services to reach a larger more diverseaudience which should allow the company to be successful in their future endures.In today’s business world a company may not get the attention of the individuals they want byusing one type of media. There is a better change for a business to be successful when it marketsits business using more than one media source. By using smart marketing strategies fortelevision, radio, and internet advertisements McBride Financial Services is more likely to getthe target audience in which there business is design to capture.