Direct Mail Marketing For Mortgage Companies
Whether you’re a loan officer who wants to connect with existing clients or you’re trying to get the word out about reverse mortgages, you can turn to direct mail mortgage marketing as a viable resource for attracting positive results. Despite this, many people in the world of loans and sales are unaware just how powerful direct mailers can be. The assumption is that digital marketing is king, but studies simply don’t show this to be true. In fact, mortgage postcards typically get a 4.28 percent higher response rate than emails.
Mortgage Direct Mail Marketing is a Perfect Fit for 2020
Statistics such as the one listed above indicate that mortgage company mailers have always been a good usage of a loan officer’s marketing money. In today’s unusual circumstances, these postcards are poised to become an even bigger influence on people who are working from home. After all, telecommuters will spend much of their day dealing with company emails and virtual meetings. The last thing they’re going to want to do after a long day is shift through even more emails.
With many Americans adjusting to the country’s new normal, you’re going to find a lot of potential prospects who are much more excited by walking to their mailbox than by clicking refresh on their email. Utilize this to your advantage by beefing up your mailers and reducing your emphasis on digital marketing. Keep in mind that reverse mortgages may soon become the most appealing option of all as homeowners are faced with financial difficulties related to COVID-19 work closures.
Tips for Creating Eye-Catching Mortgage Mailers
The most vital part of mortgage lead generation is standing out in a sea of competitors. Always remember that your direct mailer may not be the only one your prospects receive this week or even today. Fortunately, there are some relatively simple tips you can utilize to make your postcards more appealing.
1. Pick a Catchy Theme – Every company needs a branding theme, which should include colors, fonts and an overall marketing message. This theme must pop out at people. Don’t be afraid to go bold in terms of colors and font size. Of course, make sure you don’t stray too far. Remember: There’s a difference between bold and obnoxious.
2. Harness the Power of Your Mortgage Mailing Lists – Lead generation is a major part of a lender’s arsenal. This can come in multiple formats, ranging from existing leads all the way to targeting specific neighborhoods. With Map Your Sales, you can pinpoint exactly where you want each postcard campaign to go. This will enable you to send out a variety of messages to mortgage leads in different categories. Check out our demo to see how this works!
3. Speak to Each Prospect’s Needs – It’s easy to get caught up in quotas and commissions, but that’s not going to help you turn leads into clients. Instead, your loan officer direct mail marketing efforts must focus on what each prospect can personally get out of working with you. For example, individuals who are hard hit by economic woes need money right now. Therefore, any lender with reverse mortgage options can speak directly to this need.
On the other hand, slashed interest rates and a soft real estate market can be music to the ears of a buyer who is still in a strong financial position. When you contact these members of your mortgage lists, you’ll want to present a message that showcases how much they stand to save by purchasing real estate right now.
4. Take a Direct Approach – No one wants to spend a lot of time trying to figure out what you’re trying to sell them. It only takes seven seconds for consumers to form a strong impression about a company, and some studies suggest that a fraction of a second is enough to start determining if you’re trustworthy. With such a limited window and the inability to present your message in person, you’re going to need to keep things simple and direct. Always be honest in your mortgage marketing and avoid vague language that could be easily misinterpreted.
5. Use Targeted Imagery – A multi-million-dollar home is certainly eye-catching, but it’s also out of touch with the needs of most people. When you use Map Your Sales to send mortgage company direct mail to tailored groups, you can ensure that the imagery on each postcard campaign is appropriate for the intended audience. This doesn’t mean lower-income consumers should get postcards with tiny, unattractive homes. Make everything positive by either choosing the best examples of local inexpensive real estate or images of happy people. Be sure that any people in your ads are a good representation of your target market.
6. Don’t Forget a Call to Action – Each person who receives one of your postcards should be able to figure out within a few seconds what you’re offering, how it will benefit them and what action they should take next. Be sure to include a direct call to action. For example: “Call XXX.XXX.XXXX now to get fast cash with a reverse mortgage.” In this one simple call to action, you can meet all the vital points listed above.
Benefits of Direct Mail for Mortgage Companies
Surveys indicate that at least 41 percent of Americans look forward to checking their mail each day. These people are primed to receive your message, and they’re also likely to spend 28 percent more than consumers who don’t respond to a direct mail campaign. In the world of mortgages, this translates to a higher willingness to take out a loan. There are also many other benefits of taking this marketing approach.
1. High Return on Investment – Studies show that direct mail campaigns provide a solid return on investment (ROI) of 29 percent. This gives options such as direct mail marketing for loan officers a better ROI than paid search and online displays.
2. Less Risk of Getting Lost in the Shuffle – Even though direct mailers still have a high success rate, your competitors are increasingly less likely to use it. Marketing studies show a 2 percent drop in the companies that used this method in 2016 versus 2015, and these numbers continue to fall. This means you’ll be dealing with less competition, thereby making your message stand out even more.
3. People Connect with Physical Objects – Although eBooks are often cheaper, arrive instantly and reduce clutter, 74 percent of college students say they prefer print books when they’re reading for pleasure. What does this have to do with marketing? It’s simple; consumers connect more readily with physical objects. For instance, sending reverse mortgage leads a direct mail postcard will make them more likely to remember your sales pitch. It also gives them a handy object that they can stick on their cork board or refrigerator for future reference.
How Map Your Sales Can Make Direct Mail Even More Effective
Direct mail on its own has been proven to help increase sales across a diverse list of industries, including mortgage lending. The company you turn to for your postcard marketing needs can also have a big impact on just how successful your next campaign becomes. With Map Your Sales, you’ll gain access to a wide list of special features and options that have been designed to boost effectiveness.
1. Comprehensive Targeting – Many businesses have tried Every Door Direct Mail (EDDM) by USPS. The problem with EDDM is that you’re severely limited in terms of targeting specific potential prospects. In fact, EDDM only enables you to target by an entire zip code or region. This can drastically reduce the cost effectiveness of a mortgage direct mail campaign. Fortunately, Map Your Sales eliminates this problem with a comprehensive pinpoint marketing tool. You can choose from as large or as small of an audience as you’d like. You can even pick a single address!
2. Go Beyond Postcards – We understand that taking a diverse marketing approach is the best overall way to attract new clients. Therefore, we make it easy to use our pinpoint marketing for postcards, emails, gifts, ringless voicemails and texts. With this multi-tiered approach, you’re virtually certain to get even stronger results.
3. Save Time with Pre-Built Templates – Don’t struggle to build a design. We’ve got you covered with attractive pre-built templates that are very easy to customize with your information and imagery.
4. Send Mailings on Your Preferred Schedule – Do you want to send out only one batch of postcards? Or perhaps you’d like to have continual campaigns that are mailed on your behalf according to a pre-determined schedule? We provide both options!
Map Your Sales is pleased to help mortgage lenders nationwide with their direct mail needs. To learn more choose an option below!
