Sunday, February 7th, 2010 at
3:34 am
So you have been writing mortgages like crazy now for the last few years. You have a pretty big database of customers and hopefully you have been getting and keeping full contact information for them. An organized database is the first key to customer retention.
The next step is to put together a direct mail campaign to keep these customers thinking about you when they think about mortgages. It is often years between times when each customer needs a mortgage professional, and it takes far less than that for them to forget your name. As well as fighting time, you are fighting indifference. Customers who get great service are often reluctant to pass that information along, while customers who feel they have gotten poor service will tell everyone. Most of the time good customers need to be reminded of their experience. By following up with each customer on a regular basis you will not only stay in the front of their mind but you will also start to build a reputation as a solid and responsible business.
So how do you get started? Below are a couple of the most frequently asked questions when starting a campaign to keep in touch with past clients.
What Type of Direct Mail Piece Works Best?
There is a great debate amongst Mortgage Professionals about what type of direct mail will work best for getting new business. Many swear by letters for their appearance of professionalism, while others like the low cost and high visibility of postcards. Overall, both seem to work adequately for bringing in new business. You just need to find which works best for you personally.
For keeping in contact with past customers, however, the way to go is postcards. This is due to the fact that if your customers are not currently looking for a mortgage for themselves, they are far less likely to take the time to open a letter. That causes most of your “keep in touch” promo that is in envelopes to get thrown out before it ever gets read.
Since the goal is recognition and not direct action you only need to get them to read the message. Postcards have the message visible when mailed, which means that while your customers are deciding what to read and what to throw out, they are already being exposed to your message.
How Often Should I Send Promo?
You will want to mail a piece to your database every 30-60 days. Any longer than that and they may have already forgotten you when their friends are looking for a mortgage. Since you will want to send promo out often, you will need to keep your costs down. With postcards there are no envelope costs, no assembly costs and the postage is 30% less than letters. When using a mail house to send your postcards you can often get postage rates as low as 18ยข per piece.
What Should Be On My Brand Recognition Pieces?
There are some basic rules for the design of a brand recognition direct mail piece.
Rule #1: Keep color consistent.
Many times people fall into the trap of changing the look of their promo for the seasons or for the holidays. The thought is that people are thinking about Christmas or St. Patrick’s Day so they will respond better to promo with those colors. The truth is exactly opposite. Their senses are so flooded by those images that they actually start to skip right over them. Pick a color for your company and stick with it. You will do much better in building recognition.
Rule #2: Make a logo and use it on every piece.
Having a clean, professional logo is best. It may be a little pricey to have designed but in the end it is well worth the money. Experienced designers can often charge up to $2000 for a corporate identity package including logo, letterhead and business cards. If you aren’t looking to make that type of investment simply pick a type style for your company name and use it every time. Consistency is key because your logo is your main identification point.
Rule #3: Make it Informative.
Every piece should have something useful for your customers. Whether it is new information about the mortgage industry or even possible investment properties in their area, it can even be completely unrelated to the mortgage industry. A calendar or list of emergency numbers, even the old recipe card trick still works pretty well. Anything that is likely to be kept around will help to build recognition in the minds of your past customers.
The mortgage industry has experienced a huge amount of growth over the past few years. Unfortunately this growth cannot last forever. At some point it is going slow down and the only way to keep your income in the range that you have become accustomed to is to ensure that you retain as many past customers as you possibly can.
A direct mail campaign is the best way to do this, but remember, this type of program is a long term process. Don’t get discouraged if you can’t directly calculate the amount of money that you bring in right off the bat. What you are doing is burning your name into the minds of your customers. Eventually it will work out to you seeing less attrition and far more referrals.
By: Joe Niewierski
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Tuesday, February 2nd, 2010 at
7:06 pm
How To Set Up A Totally Free Direct Mail Program For Your Mortgage Business
Glad to see that this article caught your attention. You’re going to love this amazing little direct mail mortgage marketing strategy.
This super simple idea will actually allow you to mail 500 or 1,000 or 10,000 or even more…postcards and/or fliers each week for free…all of this without you having to pay one single cent for postage. In fact, this idea is so profitable, that a number of mortgage professionals notified me that they replicated the idea multiple times and created their own lucrative direct mail companies outside of their mortgage businesses. Now that’s powerful!
Forgive me for jumping ahead here. Let’s start back at the very beginning and explore the details of this idea.
The most expensive part of a direct mail campaign is your postage. For that reason alone, you may not currently be using direct mail in your mortgage business. Your next most expensive item will be your list. The postcard might cost you a few cents apiece to print depending on your quantity. So that’s almost nothing.
What all of this boils down to is that it’s pretty tough to get a mailing out these days for less than 55 cents each or maybe 65 cents apiece. So that makes direct mail pretty darn pricey. So here’s what you do to avoid paying postage, list rental, printing, and even make a profit using this idea.
First, you find out how many people live in your marketing area. What you want is the number of residences in your area. The post office will show you how to do a “Dear Resident” mailing. The post office will deliver your “Dear Resident” postcard very cheap if you are trying to hit every household in a certain zip code or set of zip codes.
If you’d like to personalize the carrier envelope, just look under the Yellow Pages under the category labeled “Mailing Lists,” and you’ll find a list of local companies that can help you. However, personalization is not a requirement. In fact, most loan officers that use direct mail address their offers to “Dear Resident.” You’ll also find this reduces costs substantially.
Second, let’s say you find out that there are some 12,275 residences in the targeted area you want to reach. What you now do is approach other businesses that would also be interested in reaching these same people with a postcard advertisement. Ask these businesses if they would like to spend, say, 20 or 25 cents instead of 55 or 65 cents to reach a potential customer in their target market.
As a reminder, only approach businesses with this idea that are not competing with you and your mortgage business. There are tons of businesses willing to participate and a good letter promoting the concept will keep your waiting list constantly filled.
All of this sounds pretty simple, doesn’t it?
Well, it is. In fact, the odds are good you already receive a mailing like this. There are a number of companies out there that will provide this service for you at a cost. They are called “card deck mailings.” Just type “card deck mailing” into Google, and you’ll see all kinds of companies come up in the listing that will do your card deck mailing for you. Better yet, when you receive your next mailing…call and check out their pricing. Your card will be ganged in with all the other merchants.
But here’s the simple truth. You can save a lot of money my doing these mailings yourself. They are really very easy to do. There is something to be said for that old adage “If you want it done right, do you it yourself.” You’ll have total control of the process. And especially total control of who is getting your mailing. Very often, the “card deck” mailing companies hit to big a geographical area and include too many folks outside your marketing area. So, do it yourself so you can be certain you’re only paying to reach those people you want to reach.
Also, you can gang together more than just postcards in an envelope. You can also gang fliers, letters and other advertising materials. Although I have seen some “card deck” mailings arrive in clear shrink wrap, plain old envelopes work just great.
But whether you do it yourself, or use a company that specializes in card deck mailings, this is a very cost effective way to advertise your business in your local marketing area.
But there is one key you need to be mindful of to make this kind of a mailing work for you. You need to make sure your mortgage message stands out from the other messages in your mailing package. Again, don’t offer this opportunity to your competitors…only to those businesses that want to reach the same people in your marketing area.
Here’s a great opportunity to actually make money in two businesses.
You’ll make money in your mortgage business by promoting your company via your mailing…that is, with your own postcard or flier. And, you can make lots of money selling your direct mail program to your co-op mailing partners. Just mark-up the cost. A 15% mark-up or so to compensate you for your work and initiative is certainly reasonable, and you’ll still be under pricing the big national “card deck” mailing services. When you get all your prices together, you may find that you can demand an even larger mark-up.
Start mailing your co-op mailings once a month, and then increase the frequency as you get your systems and procedures in place. I’m sure you can see that there is some great money to be made doing this. If you’ve got some guts and ambition, you can work this system to a point where you are mailing countless card decks and other co-op mailings per week with very little if any cash outlay. Your co-op mailing partners are funding the entire process and even paying in advance for the privilege of working with you.
I’ll let you do the math here on what you could make with this idea if you just mark-up the cost a minimum of 15% to your co-op mailing partners. You may need to consider a part-time assistant early on to make this work for you. Of course, nothing will work if you don’t work the plan. To get this system up and running will take a little initiative and some oomph on your part.
At the very least, use this little trick to conduct direct mail marketing campaigns for your mortgage business at no cost to you. It’s not at all hard to find six or eight or ten or more businesses that will be more than happy to sign-up for the program and participate with you.
This is a great idea…drop me an email or give me a call…I would love to hear of your success with this program.
By: Tom Domin
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Monday, December 14th, 2009 at
7:46 am
Mortgage Direct Mail Information
Reverse Mortgage Mailer
FHA Loan Mailer
ARM Mortgage Mailer
QUALIFIED LEADS – VARIABLE DATA
We send all mortgage mailers to homeowners based on credit driven criteria you select. We use quality information directly from the source because we want you to be able to do business with people who respond. We then use homeowner data such as lender name, loan amount, ARM Recast date, etc. within the mailer to gain the prospects trust.
MORTGAGE LETTERS THAT WORK
Your mortgage mailer is 100% customized for your specific strategy, competitive advantages, brand and company. We have developed various mortgage mailers that currently out perform the competition by targeting a specific type of borrower. Increase your business with a targeted ARM, FHA, or Reverse Mortgage Mailer today!
MORTGAGE MAILINGS THAT GET OPENED
Upgrade your mailer with our Rush Priority Mail envelopes that entice the homeowner to open and read the enclosed mortgage letter. Our envelopes and snap packs look like official packages which costs several dollars to ship.
HOW IT WORKS
Using Best Rate Mortgage Direct Mail Services is as easy as 1-2-3. Simply choose your target audience, select your mortgage mailing package and copy, then we send your mailing out for final approval and production. Your mailing is sent within 3-7 business days after mailer approval.
POSTCARDS AND MORTGAGE NEWSLETTERS ALSO AVAILABLE
Contact our marketing team today for a custom quote on our tailor made postcards, newsletters, and “stay in touch” mailings.
We can meet your needs and budget today at 888-MY-LEADZ
Our mortgage letters are completely customizable and can be mailed with the standard #10 window envelope included free of charge or you can upgrade your mailing to a custom envelope or snap pack. See below for more details.
Adjustable Rate Mortgage – ARM – Mortgage Mailer
Our clients have had huge success with our Adjustable Rate Mortgage Mailer. This mailer prompts response by using data and mortgage payment increases based on the homeowner’s loan. This mailer also includes attention grabbing photographs along with testimonials that build trust and re-enforce your message of refinancing into a fixed rate loan.
Our ARM Mailer is the perfect choice when targeting homeowners with loans about to adjust. If you do not already have a targeted ARM mailing list for your mailer, our team of marketing professionals will assist you in establishing what list criteria will work best for you. We also provide suggested letters which have produced great results or you can provide us with a letter of your choice.
Reverse Mortgage Mailer
The Reverse Mortgage Mailer targets homeowners over age 62 and gives the look and feel of a official document regarding a FHA Home Benefit Program. This mailer explains the benefits of a reverse mortgage as well as why they should call you to see what their exact benefits will be.
Our Reverse Mortgage mailer is the top choice among reverse mortgage specialists and produces great responses from homeowners over the age of 62. If you do not already have a targeted mailing list for your mailer, our team of marketing professionals will assist you in establishing what list criteria will work best for you. You may also incorporate company logos and images into your mailer to build trust and credibility.
FHA Streamline Mortgage Mailer
The FHA Streamline Mortgage Mailer is the newest mailer to our product line. With FHA rates low it makes it easier then ever to target and refinance a homeowner currently in a FHA loan. This mailer gains trust by showing the homeowner exact savings based on their situation as well as providing information about what an FHA Streamline is.
Our FHA Streamline Mailer is the top choice among FHA Approved Brokers and provides a high response rate. If you do not already have a targeted list of FHA homeowners with high interest rates, our team of marketing professionals will assist you in establishing what list criteria will work best for you.
Customized Mortgage Mailer
Customize your very own mortgage mailer! Our production team and group of graphic designers will assist you in developing a unique mailer for your specific needs. Increase your response by adding your picture, testimonials from past clients, specific information regarding the homeowners financial situation or loan, or anything else that will entice the homeowner to pick up the phone and call you.
Target Audience – We will assist you in establishing what list criteria will work best for you. Once we send your mailer to your list we will never double mail these homeowners with a competitor’s mailer.
Customized Content – We have suggested letters which have produced great results or you can provide us with a letter of your choice. You may also incorporate company logos and images into your mailer at no extra charge.
All of our mortgage mailers include a standard #10 one window envelope free of charge, however you can upgrade your envelope for an additional charge.
Large (6×9) 4-Color Envelope
Small (4×9) 4-Color Envelope
The Rush Priority Mail envelope is an attractive envelope that looks like an official document from someone important…YOU! This envelope has proven to have the best open ratio among all of the full color envelopes available today.
Our Urgent Letter Enclosed envelope is a full color windowed envelope designed to look like an official envelope from the post office. Our clients have seen as high as a 50% increase in open rates when using a full color envelope compared to a standard one color windowed envelope.
Snap-Pak mailers are self-contained mailers with perforated edges. You can print any letter on the inside or just black and white text.
Our full color Rush Priority Mail Snap Pak is a one of a kind for the mortgage industry. This unique snap pack can yield as high as response rates as our 6×9 envelope due to it’s official look and feel. If you want your mortgage letter to be opened and read, we recommend the full color Snap Packs for any campaign.
Target Your Desired Prospects and Close More Loans
By: Joshua R. Conklin
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