THIS MORNINGS QUICK LOOK
- TOUR DE MTG FINANCE – DOW or S&P 500 – Which To Follow?
- PRODUCT HIGHLIGHT – The Power Of Proofing Made Easier
- MARKETING – Narrow Your Target Client To 1 Person
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Tour De Mortgage Finance Learn Something New Everyday About Your Industry
SHOULD I FOLLOW THE DOW OR S&P 500?
If you have a bunch of different stocks or are savvy in stock trading then you likely monitor the S&P 500 or honestly they usually just monitor their own personal stocks.
Then you have those who just have a 401-K or mutual fund that has a heavy portion of US Stocks then honestly your best bet is not to monitor it at all since you are not buying and selling based on what the market is doing but going for the long run. It will save you a lot of pain and suffering especially right now just to know what you do not sell does not hurt you until you actually do sell.
But to understand the difference. The DOW makes up 30 large stocks that provide an indication of what the overall economy is doing from a stock perspective. The DOW represents 22%ish of the entire stock market capitalization.
Lucy, just punched my arm and said Yo Jack, what is stock market capitalization? Quite simply, it is the total # of stocks outstanding x the current price for each share of stock. Basically the value of the company as determined by stock.
So, the total value of the stock market as of 12/31 was 53 Trillion so the DOW represents about 12 trillion dollars in stock.
Now, the DOW is great for the overall economy but the S&P 500 is made up of the leading 500 US traded companies and by the way the 30 companies the DOW covers are all in the S&P 500.
So, the S&P 500 represents 79% of the total value of the US Stock Market which is about 42 Trillion as of 12/31. Less today of course but the %’s are about the same.
So, what do you do with this information? Like I say almost daily use it to help others see you as the person in the know for the financial industry and use it in conversations to set yourself apart from the rest.
In case you did not know the dow is down 5% in the last month and the S&P 500 is down 8% in the last month.
Lucy, just looked and my 401-K is down 4.7% so far this year. Ooops, should not have looked : )
Product & Guideline Highlight Knowledge That Gives You An Edge Over Your Competition
THE POWER OF PROOFING MADE EASIER
Ok, so this is something I just learned and Lucy was blown away by it.
As long as I have been writing and emailing I never knew this.
So, when you write sometimes you get this little red squirrely line
that tells you that you need to go back to English class as indicated in the pic below.
I usually just ignore and move on with it assuming it is just some slang I use.
But now, I actually look to see what my options are but even cooler add them to my dictionary.
So, if you see a little red line under a word, right click the word and you will be given options. You can either choose the right spelling or if you use the word a lot you can choose add to dictionary and then next time you write it the system will accept it as a proper word.
Since finding this out I now proofread and look for any red lines and make the fix or add to the dictionary.
Just another tool to make us all look smarter than we actually are.
Marketing Ideas And Opportunites Little Things That Can Make A Big Impact
NARROW YOUR TARGET CLIENT TO 1 PERSON
We are continuing the conversation about how to really narrow down who you want to work with. See yesterdays email to start.
Think of creating a profile that narrows your ideal client down to an actual person.
Describe who this is person is and what kind of heart they have, what type of family, ambitions and choices they make.
You are basically creating a person or avatar.
For example, one of my clients I know markets to 40 – 60 year old range investors that are Self-Employed that cater to the high end condo market. They are smart, well educated and if you give them the right deal they move forward.
Now, of course that is not all they service and this is a real niche market but when writing his marketing material this is who he has in mind. Due to this he gets a lot of SE borrowers and investors because his realtors knows he is the best at them.
Yours could be if you are an FHA expert marketing to the everyday regular guy, the blue collar worker that is about family and community and just living life steady as she goes. So your marketing would revolve more around community and family and so forth.
This is heart to heart and human to human marketing and make sure your marketing reflects your heart connecting with theirs.
Because of technology you are able to have more human touch points than you have had in the past.
Think of Nike commercials. They are very specific who they market to.
START WITH THIS:
Who are your existing core clients?
What are their demographics?
What do you really know about them?
What are their hopes, fears, doubts, pains, pleasures?
In order to add value to people you must know what they value.
TO BE CONTINUED TOMORROW : )
Turn Times As Of This Morning Lookin Good!
| TURN TIMES | Purchase | Refinance |
| Business days | business days | |
| Conv Non-MI | 1 | 1 |
| Conv MI | 1 | 1 |
| FHA/VA | 1 | 1 |
| USDA | 1 | 1 |
| Jumbo | 1 | 1 |
| Conditions | 1 | 1 |
