The mortgage industry is facing an increasingly competitive purchase in the market. The loan originators and mortgage companies are handling the possible way to reach their audience. It means at their disposal to distinguish themselves from the clutter of mortgage marketing messages inundating prospective borrowers. It is a jungle there, but there are ways to tame it.
The savvy mortgage originators use the data to create relevantly; one-to-one messaging that will attract and acquire potential applications. The data driven direct mail in an integrated direct marketing campaign will involve multiple touch points. It will include email and digital channels to increase the leads and loan closures.
The need for mortgage is at the raising end and following the right marketing becomes the best way to have more number of audiences and have successful results.
Direct mails for mortgage leads
As per the study, more than 6 million home sales occur in the United States of America and 92% of the new mortgage borrowers do online research before they get into the process. 66% of the homebuyer would prefer to handle their mortgage entirely online. It proves that there are lots of leads for waiting to tap. So, direct mail becomes the more suitable technique when it comes to mortgage generation.
What can you have from direct mail?
The enhanced potential response is possible from the direct mail. Forget about the mass advertising channels like radio, TV, or any other prints. In all such advertising channels, you find lots of chances in wasting your money. Many consumers are either not qualified or not in the mortgage market, but you have to pay for it. When it comes to direct mail, it targets the recipients more likely to respond to your offer. You need not worry about the coverage as well.
- Direct mail is the technique where it is more like a personal message. The direct mail pieces and processes will allow you to address the prospects by name and offer the news designed to impact the locality and the needs of the homeowners and buyers in the market.
- Another thing to note is the efficiency of being flexible and testable. You can change the message and test the headline, promotional offers pulling the best results, and you can also try out any format from letters to postcards and brochures.
- If it is the pre-planning process, you can verify every campaign’s success, and you can ascertain your ROI based on calls to toll-free tracking numbers, returned postcards, or any specific views for the webpage URL in the offer.
Some tips to have efficient results
- Know your audience
If you launch the brochure or postcard campaign that blankets all prospective mortgage buyers in the given area, you may get less response rate. People will take out the mortgage for various reasons. They can be first time homebuyers, homeowners looking to upgrade the second home, or retirees looking for vacation homes. All of these are unique sub-niches you find in the mortgage industry. It would be best if you also addressed the motivating factors or any specific needs of the respective prospects.
- Have a strong call to action
You may offer the recipient explicit instruction about what you want them to do after reading the mail for any marketing message. For instance, you could direct the prospect to any landing pages to sign up for future email communications and help you grow the mortgage customer database.
- Experiment with various mailers
Though online postcards indeed offer the best results for generating more leads, you should also experiment with equally successful mailer types based on the message. Various other options include the following.
- Standard sized or large brochure
- Bold flyers
- Use the online postcards with personalized options.
- Mix it up
There are various ideas in design, packaging, content, call to action, and offers. Your mail house or printer may be able to show you want works and whatnot. You can experiment with various approaches until you get the desired response from your audience. Keep in mind that offering the mail respondent’s free pertinent information and literature can encourage response. So, try it out!
- Set you to plan
Direct mail marketing is the commitment that will pay off over the given time, and it will also work the best to create a 12-month strategy before you start with the first piece. Once you launch the program, consistency is the thing you have to focus on. Remember that one single mailer will not help you to achieve good results.
Content for the direct mail campaign
The primary objective of this direct mail is to generate phone calls and emails from the client. A clear and concise message can produce a good response. Ensure to use the consistent theme, photo, and signature line on your marketing to construct high brand recognition. It will apply equally to the website, print advertising, direct mail, email and email campaigns, and billboards.
Keep in mind the choice of content should be individual. It can run the gamut from the holiday greetings, current rate information, closing congratulatory anniversary letters, localizing the market info, home loan process tutorials, financial tips, and new loan products. Similarly, whatever you choose your content should be of high value and appropriate from the targeted audience’s perspective.
Adopt the strategy to have data-driven results
The data-driven strategy can allow the mortgage originators to identify the right prospects and also personalize the time and offerings based on the habits of individual opportunities following the state-of-the-art digital personalization.
The process ensures you are following the right measures and work on all specific data. Use the factors like gender, credit score, age, etc., to determine the responder to offer and who applies for the homeowners’ mortgage. Adopt the right strategies and ensure you are planning well to have the best results.