The housing market has been heating up over the summer, with both pending and existing home sales posting their strongest showings of the year in July.
Direct Mortgage Marketing Tips
Although direct mortgage marketing studies indicate that 80 percent of all sales are made after the fifth contact has been made, there's no doubt that the most important connection is the first one. First impressions apply to mortgage brokers in business as it does to anyone else in day-to-day living. Therein lies the importance of knowing the essential tips for marketing mortgages via direct mail.
Direct mail marketing pieces can either light up the golden road to new customers or send you careening into the guardrail. Take charge of your destiny by implementing the following tried-and-true direct mortgage marketing techniques.
What to say
Your direct marketing material should be organized around one relevant offer. If you're reaching out to seniors, create an offer that matches their needs. If subprime mortgage marketing is your game, tap into the hopes (or fears) of bad credit borrowers. Maximize the relevance of your pitch by focusing on the benefits they bring to users instead of on the features. One feature, for example, is a low, fixed monthly payment. Having more money in one's pocket and greater financial freedom are benefits to a consumer.
Your work isn't over once you've sparked interest with a relevant offer. Direct mail recipients are generally skeptical; they're often worried about being swindled or sold something that they don't want. Take steps to address these tensions by incorporating trust-building tools-like guarantees, risk-free offers, or customer testimonials-in your direct mail piece.
Be clear about how and when you would like your reader to respond. Whenever possible, impose a deadline. You can do this by offering a free gift or free information in return for a timely response. Tell your reader specifically what the next steps are. Should she make a phone call for more information? Or send back a business reply card?
Finally, the experts recommend using a postscript to sum up your offer. Word your P.S. carefully-studies show that this can be one of the first items read on the page.
How to say it
Be brief, organized, and conversational. Ideally, your writing should balance brevity and sincerity. Use bullet points and white space to make the information less intimidating, but don't disappear from the communication-convey who you are with a relaxed and sincere voice.
Now you're ready to walk down that golden road. When those leads start coming in, go for the sale by being direct.
Borrowers with home equity lines of credit (HELOCs) will face a growing risk of default over the next several years, as the bills come due on millions of such loans.
The 12-mile drive from Scarsdale, N.Y., to Greenwich, CT, is about 21 minutes, according to Google Maps.
Most consumers are aware of the three major credit reporting companies that generate the scores used in qualifying borrowers for loans. What they may not know is that Equifax, Experian and...
Latest from our Contributors
Browse Mortgage Rates
Browse our comprehensive guides to popular topics related to mortgage and personal finance.