Quicken Loans

Social Media Marketing StrategyA presentation by Katherine Elrod

Client History• Quicken Loans is one of the largest independent mortgage

companies in the country. In the face of this economy, they stand above the rest with lower layoffs than most companies in the mortgage industry. However, there are a few challenges the company is currently facing. The slumping economy has caused them to only sell "plain vanilla loans", straying away from second mortgages, home equity lines of credit, Alt-A products and deferred interest loans. They were also recently sued against former employees who claim that Quicken Loans is in violation of the Fair Labor Act. This lawsuit has placed a negative image on the company.

Challenges and Goals

stand above the rest in the current credit crunch?

make it easier for people to use our company?

use social media sites to become more successful?

reflect a positive company image?

How Can Quicken Loans…

Integrated Theme• “We are willingly to go above and

beyond to try and satisfy each and every customer. Their happiness is our number one goal.”

• Customer Satisfaction

Proposal Key Components

Social Media Sites• Facebook Should provide actual success stories from real clients to improve clients image and promote WOM advertising.

• Twitter should be used as a consumer complaint site, where the costumer can come for problems and where Quicken Loans can answer them in a fast, friendly and truthful way. This will show the efficiency and caring attitude of the company.

• Photo sharing sites like Flickr should be created for Quicken Loans to promote company activities and charities.

Proposal Key ComponentsPublic Relations

• Quicken Loans was sued by former employees who claimed they were in violation of the Fair Labor Act.

• PR efforts should be boosted because of this poor company image.

• Sponsor a cause or event that people will sympathize with like American Cancer Society’s Breast Cancer Walks.

Proposal Key ComponentsClient Website• Website redesign.

• The current official Quicken Loans site is messy and unorganized. It should be easy to navigate through. Their color scheme should be set to their company's colors.

• A lot of the information of the site look like pop-up ads, making the company look unprofessional.

• All social media links should be clearly and distinctively present on the homepage.

Proposal Key Components

SEO• Search engine optimization should be improved.

• The fifth result on a Google search is consumer complaints about the company.

• Google AdWords should be utilized. Keywords suggested would be “mortgage company”, “loans”, “home loans”, “costumer satisfaction”, “low interest loans”, and various spellings of “Quicken Loans”.

Media Plan

Budget• The proposed budget should cover all of the

proposal’s key components.

• Importance should be placed on the social media sites and the official Quicken Loans website. Updates and redesign will run all throughout the year.

• Social media is a very cheap but effective way to increase sales.

• SEO will only run in the spring and fall seasons.

Evaluating Success• Get feedback from customers. One main

question needs to be asked…

“Are you satisfied?”• Use trend tracking for social media sites to

measure effectiveness.• Measure click through rates and generated

sales against price for SEO.