When rates tick upwards, purchase business remains consistent. One of the easiest, most profitable ways to build your mortgage business is through direct mail. Direct mail offers the opportunity to build your loan pipeline and your realtor referral base at the same time.
In the digital age many wonder why send traditional mail when we have a plethora of digital resources at our fingertips? Direct marketing may feel outdated, but it outperforms all digital channels combined by nearly 600% and nearly 77% of consumers state they sort through their physical mail as soon as it is received.
Those stats alone should be convincing, but if not, read on:
Success or failure of a direct-mail campaign is based on several components. First, you must have a fresh, well-targeted database of potential customers to match your ideal message. If you are not sending the right message to the right people, you could be wasting your marketing dollars.
What strategies are you deploying to reach your ideal customer? Internet leads, cold calling…all of these strategies work, but which works best? The answer, NONE of them! The most efficient way to spend your marketing dollars is by using a targeted lead generation strategy.
Direct mail has long been a successful tool in a marketer’s belt. In today’s technical world, many people may still wonder, “Why send direct mail when you have the advantage of online advertising, social media, and other avenues?” While these marketing strategies work for many industries, things tend to work differently in the mortgage industry. The benefits of adding a direct mail component to a company’s advertising budget can help take business to the next level.