Mortgage Case Studies: OnPoint PR & Consulting
Mortgage Client Case Studies: OnPoint PR and Consulting
SaM Solutions: EngageSaM Solutions US sought to gain awareness for its loan origination system, Engage. It wanted to gain market share among mid-size lenders, credit unions and community banks. As media counsel to the firm, Strickberger developed and executed a strategy that resulted in SaM Solutions gaining the attention of the press and firms that became business partners.
As a result, SaM Solutions had articles printed in National Mortgage News, Mortgage Technology magazine, HousingWire, Scotsman Guide, Progress in Lending, Origination News and dozens of other publications. The approach was to understand the features and benefits of Engage, and identify those that would generate the most press.
We scheduled demonstrations with editors, and ghost wrote articles on behalf of company executives that positioned SaM as an industry leader. The result was a company that had no presence in the U.S. began to receive press coverage-and to be taken seriously as a technology company.
Our work led to a huge increase in online activity for SaM, with searches for the company increasing exponentially. For its part, social media activity also experienced a dramatic increase in activity.
Ernst PublishingErnst Publishing is a company that provides fee data to lenders, earning a sizable market share of more than 80%, but there was a problem.
Throughout its 20 year business life the company had never publicized the quality of its technology because it distributed its offerings through third parties.
Its focus was on innovative technology, being first to market with transformative technologies, a goal it has achieved almost every year it has been in business. But its culture did not consider public relations a top priority; the firm was one of the best kept secrets in the mortgage industry.
Success meant letting the industry know that the organization was extremely successful – without naming its clients. The objective was to bring the company to the attention of the media and the industry.
First, lunch meetings were scheduled with the press and with publishers.
Then a series of press releases and articles established the firm as the leader in the industry, according to market share, transaction volume, users among the top-10 lenders, technological innovations the company released, and so forth.
The company's news was covered by the key publications in the mortgage business, including National Mortgage News, Mortgage Technology magazine, Origination News, Housing Wire, the Title Report, and many others.
In addition, at our suggestion and working closely with us, Ernst created a survey related to changes in the "Good Faith Estimate" that was sent to several thousand mortgage executives. The responses were tabulated and reported in press releases and research notes.
The results were amazing, the response was powerful.
ALTA, a trade group to the title industry, agreed to allow Ernst to present the results of the survey at the business strategies conference.
Once ALTA had run the story, the study was released to the press and the mortgage industry.
On the panel, along with the two most senior people at Ernst, were representatives of some of the largest banks and title companies in the mortgage industry, such as Bank of America, Fidelity, and a representative from the CFPB. A press release about the survey was distributed immediately after the presentation was complete.
Executives of HUD (now the CFPB) read the results and passed the research on to their bosses, where it was discussed at a meeting of senior executives of the agency. After which, Strickberger (representing Ernst) was invited to HUD to discuss their ideas for a second survey.
Once again, we pitched the results of the survey to ALTA on an exclusive basis, offering to detail the results at their conference.
ALTA quickly accepted, noting the importance of the research.
The results of the second survey were also presented at an ALTA conference with representatives from some of the same organizations. In addition, the president of ALTA, in her keynote address, during the first day of the conference, discussed the survey.
The survey was to be performed again, but with ALTA as the survey partner. The survey, scheduled to be released in the spring of 2012, was sent to the trade group members to answer, placing our client in front of a key constituency that it wanted to reach, one that could license their products.
That was a marketing and public relations coup that did not require Ernst to devote any additional funds from its marketing budget to procure.
As a result of these efforts, Ernst very quickly became a household name within the mortgage and real estate industries, helping it to retain and attract clients.