Focusing on advertising through local businesses and word-of-mouth to consumers might be difficult. Instead, regional and state-wide television, radio, and print media to alert consumers about the virtual financial company might be a way to motivate individuals to use Google to search the web to find out about the company. Establishing contacts with local realtors who might wish to advertise McBride or to advise clients of its low-cost services is another option. Even talking to business columnists of regional newspapers might help spread the world about the company in an informative setting. It would certainly add to the company' image of legitimacy, as well as allay fears about doing business online. Advertising through Google seems like a possible option as is advertising on general information real estate websites that contain information specific to the region. Linking to area sites where homes are being sold, to the federal government's FHA and VA loan programs would also generate user traffic. Additionally, including terms on the McBride web page that easily turn up during a search, and making the site user-friendly for individuals who are not Internet savvy is critical to generate online traffic and to ensure individuals use the site. The site itself, designed with all of the necessary tools to obtain a mortgage online, must itself be regarded as a marketing tool, once users access the webpage. First and foremost, it must inspire confidence in the legitimacy of a purely virtual financial services company. Also, it should contain the option for users to do a 'test run' before committing to doing business with the company, to make the process of doing business with McBride -- getting loan quotes, qualifying for a loan, and obtaining a loan -- seem easy.

What are target market(s)?

The most obvious distinct, core demographics likely to use the site are those individuals seeking to buy new homes...

those seeking to refinance their current homes. Individuals seeking new homes may be more uncertain about the prospect of obtaining a mortgage, are likely to be younger, likely to have younger children (and are thus more apt to be concerned about the nature of the school district in the area where they are buying a home) and are more likely to have positive feelings about the Internet, given that they likely use it to make purchases for other reasons or may use Internet banking already. They are likely to be the most responsive to Internet advertising.
Refinancers are likely to be older, may face some financial difficulties, may wish to improve upon their home or are facing financial needs for older children, like financing an older child's college education or wedding. They may be best targeted through television and print media. Veterans and military personnel who qualify for VA loans could be solicited through websites that specifically cater to their needs.

As observed before, the individuals using this financial service many not be the most affluent of customers, although they are not necessarily in the 'subprime' category either. They are forward-thinking enough to at least consider an Internet firm to obtain a mortgage, but they are clearly shopping around for a bargain rate, and do not necessarily desire to use a local bank. Cheapness and ease of use are the selling points for these customers.

Although it might seem obvious, targeting consumers who are capable of making their mortgage payments should be a concern. The company should not state that 'anyone' can get a loan, particularly since individuals may be wary of a purely Internet-based lending company. Instead, the stress should be on the fact that anyone who qualifies is eligible for a loan, and the reduced overhead costs enable McBride to offer its services at a lower rate, as well as offers the convenience of the Internet.