When rates tick upwards, purchase business remains consistent. One of the easiest, most profitable ways to build your mortgage business is through direct mail marketing. Direct mail offers the opportunity to build your loan pipeline and your realtor referral base at the same time.
The success or failure of a direct mail marketing campaign depends on several components. To start, if you are not sending the right message to the right people, you could be wasting your marketing dollars. You must have a fresh, well-targeted database of potential customers to match your ideal message in order for a mortgage marketing campaign to work.
The most efficient way to spend your marketing dollars is by using a targeted lead generation strategy. What strategies are you currently using to reach your ideal customer? – Internet leads? Live Transfers? Spray and pray? Cold calling? All of these strategies work, but which works best? The answer – NONE of them!
In the digital age many wonder why send traditional mail when we have a plethora of digital resources at our fingertips? Direct mail marketing may feel outdated, but it outperforms all digital channels combined by nearly 600% and nearly 77% of consumers state they sort through their physical mail as soon as it is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: