Direct mail is the most efficient and cost-effective way to produce new mortgage business. Marketing as we know it has transformed dramatically over the past few years. House owners have more resources than ever before; they might research almost any type of loan, company, or product on the web and, within seconds, hold the information they want. It’s taken a significant percentage far away from conventional forms of marketing. Brand-new spamming laws and outbound telemarketing Do Not Call lists (Over 58 percent of house owners in the United States are registered) don’t leave a lot of solutions to market to house owners directly. With these factors in mind, regular mail can be the best, most cost-effective way to reach new home loan prospects. With direct mail, you need have the potential to reach 100 percent of most homeowners in the United States.
What if We told you I’d discovered a direct email piece that generates an incredible 20 to 30 percent reaction?
I send 75 items per week for $35 (Including Postage). Of those, I will typically get 15 to 20 inbound calls. These will produce about 8 to ten new mini applications each week which is all I need to achieve my current closing objectives of 5 to 6 closings.
Creating the Mailer
It should be apparent that to generate this type of response that the direct mail item must be an aggressive 1. There are two components for you to my direct mail campaign, both equally packaged in a single envelope. It is a letter that simply affirms, “Please call me at your earliest convenience at (Phone number) regarding the enclosed contract, ” followed by my brand and signature. The second element is what gets the homeowner’s consideration and helps make a huge response, a copy of their Deed of Trust.
Typically the Deed of Trust is usually perceived by most homeowners as becoming a very private financial contract. Of course, it is offered through public records at any local clerk’s office. However, almost all consumers are unaware of this, so curiosity plays a large purpose in the effectiveness of this mailer. When they read the letter that they realize that someone has a backup of their Deed of Believe in, people immediately question who else it could be from and what it regards, especially because there is absolutely no wording regarding solicitation associated with any kind in the accompanying notice. I created this particular mail campaign based on an identical tactic sent to my house, which intrigued me in exactly this way.
You may get calls from homeowners confused or surprised by the prospect of someone (You) accessing their legal documents. A few callers may even be mad or upset by the mailer. Use those calls to spell out your position and take the opportunity to inform them about your services. Householders in debt may be concerned about another letter from their standard bank or a warning about home foreclosure. Once you reassure them they are there to help; you can typically get an application over the cellphone. You’d be amazed by the results.
Along with the county clerk’s office, you may as well get the Deeds of Confidence from the title company you work with. Not all title corporations have the resources to get deeds, yet call around, and you should manage to find one. If don’t worry; my website http://www.MortgageDirectMail.com includes information on getting copies of deeds.
Eliciting Response
The particular contents themselves are not the sole reason for this positive reply. There are other reasons why this direct mail campaign can be so successful. The envelope, as well as the way the recipient’s label and address appear, has a huge effect. There is a purpose the national response regular is less than one percent. People hate junk mail, and when many spots it, they tend to help disregard the mail before opening it. Your first purpose is to get the homeowner to spread out the envelope. It sounds very simple, but many people don’t think about it, which is why there is a lower result rate.
Here are some suggestions for developing an appealing direct mail piece:
Step One
Develop a compelling direct mail product. Use the preceding one, or invent one of your individual that will induce a high result. Remember, you don’t necessarily must mention your services inside the mailer. The method that has worked for me is to simply supply my phone number and request they call regarding the document encapsulated.
Step Two
Determine which homeowners you’d like to target. Do you generally work with Conventional, Jumbo, or perhaps FHA loans? Do you want to be an expert in a particular niche? Next, make a list of homeowners to concentrate your marketing efforts on. You may already have a similar list in your database. If not, call a wide variety of your contacts and headline companies; many will cause a complimentary list for you. Otherwise, you may want to purchase leads originating from a reputable company.
Step Three
Ever since you’ve got your address checklist, you must hand-address every mail piece you will be mailing. This will take some time. Nevertheless, the results will be worth it. If you don’t have the time and don’t need an assistant, you can generate prospects for your children, hire a temporary helper, or enlist your friend’s aid.
Taking the time to hand address the individual envelopes is one of the most important methods, increasing the response level substantially. This gets those to open the mail piece; much junk mail is not handled. Additionally, I have found the effect to get even greater when I don’t use a business envelope or put an excellent address. You may choose the bottom line as your name and handle but leave your company identity and logo. Most people are turned off by unsolicited submissions, which is often a way to circumvent that.
Penultimate step
Use regular postage, definitely not bulk rate. Deliver the advertising and marketing pieces to your post office a prior weekend not too long ago to ensure your submission will reach homeowners on Monday and Tuesday by arriving on Wednesday. Surprisingly most people who respond to regular mail respond on about three days of the week. While mailers arrive on Wed or Friday, consumers tend to put off calling until as soon as the weekend and then, in most cases, miss follow-up.
That’s it! Several simple steps to a successful home finance loan direct mail campaign you can even complete from home. By engaging the individual and piquing their intense curiosity, you will dramatically increase your direct mail result rate.
Read also: Take into account Specifics of the Local Currency exchange When Conducting a Currency exchange…
