Navigating a Down Mortgage Market

When a market is down and many consumers and investors are both in turmoil, it is often difficult to decide how to navigate the market.  One way that many companies are able to stay working and able to keep a steady income along with steady clients is through a tailored mortgage marketing leads.   In a time when most companies are cutting costs, and laying off workers, you have to breathe fire back into your marketing budget and reinvest into your company.  Mortgage leads let you know who it is that is in need of your services at the time.  People who are in need of mortgage related services no matter where the market is at the time, this means that it is a prime time for you to be able to come and help people who are having a difficult time financially or who need your help to be able to acquire a home.

When you have a lead you take it where it goes, and hope that you find someone who wants to be one of your clients at the end of its road or someone who is in need of your services.  This is still true during a down market.  In addition you can simply turn to your prime leads or referrals and try that much harder.  There are always new couples looking for a home or other people who are just becoming able to get a mortgage so that they can have a home and you are able to find them through a targeted mortgage lead program.  Even as times are getting tougher to get customers approved, you have to get tougher in marketing and get a targeted program that will deliver those qualified leads.

With a down market you will more than likely want to concentrate on people who may need to takeout a second mortgage to be able to stay afloat and keep their home.  This is because in a down market these are the people who there will be most of.  There are also many other people where no matter what the market may be like at the time a home is always needed or wanted.

Reverse Mortgage - The Loan That Pays You

A Reverse mortgage has been something which many individuals have questioned over the years as to whether or not it is a good idea.  However, many individuals who commit to reverse mortgages find an increased freedom they had not before realized they had.  Reverse mortgage marketing can be most effective when an understanding of the aforementioned is taken into consideration.   Many individuals are very confused over what reverse mortgages will, and will not do to their lives, and must be addressed in order to be effective.  This confusion will need special attention through your marketing in order to be addressed and explained thoroughly to make a difference for you and your clients.

For instance, if the words “reverse mortgage” automatically make individuals wary due to misinformation, it is important to have the chance to explain to them the truth behind a reverse mortgage.  To accomplish this, you need to show them the positive sides of a reverse mortgage before you can begin to talk about the mortgage marketing.  Displaying freedom for the elderly and being able to have more money in their old age from equity that has increased over the years is important.  The reverse mortgage program is insured by the federal government for their safety and security.  The cash they receive is tax free and they get to keep the title on their home.  There are no income, credit or health requirements to take advantage, and it does not effect their Social Security or Medicare benefits.

What is most important about reverse mortgage marketing is to treat the individuals as they are very important to you, because their future is very important to them, and you are asking them to trust you with their future.  Once you have explained the truth about a reverse mortgage through your reverse mortgage marketing, you will not only feel better about your way of reaching out to others, but your business will increase too.  The best way to create this sense of trust is with a Reverse Mortgage Seminar, where you invite everyone out for a evening of dinner and a reverse mortgage presentation.  In addition, the individuals who sign with you will be feeling content and safe in their decision, which is very important for any individual who makes a decision of magnitude, and could ultimately lead to more referrals.

Powerful Mortgage Advertising

The most powerful form of mortgage advertising is communication and talking directly to those you are trying to reach.  Mortgage advertising comes in many different forms including radio, television, and web advertising.  These signs will usually show different appealing messages in an effort to convince potential mortgage clients how effective it would be to go with a specific company.  However, communicating directly and using specific phrases can make a difference for your mortgage company in encouraging others to sign a contract with you.  The more personal the message that you send out, the more responsive and receptive the customer will be.

For instance, anything you say within a meeting or directly to the individual will make an impact on him or her.  Asking him or her what he or she thinks, and pushing the conversation in a positive manner will benefit both parties in the long run.  However, it is important not to be pushy.  Change any phrase you plan to make from possible “yes or no” answers into something where they can feel confident by saying “yes”.  In some instances, you may wish to word your questions in order to prevent a “no” answer and instead allow your potential client to set the pace.  You want them to feel secure in dealing with your company, give the sense that you are a friend and not a mortgage company.

Use your words carefully as the wrong word or phrase will do the opposite of what you intend and may make the individual pull away.  Using words like “contract”, “application”, or anything referring to something that will be set in stone will make most individuals pull away as if they were an opposing magnet against the word you stated.  Your key phrases must be carefully placed if you wish to attract your potential clients rather than push them away.  Remember, what benefits you may not always benefit your client, but what benefits your client will always benefit both parites, and this should be kept in mind for effective mortgage advertising.

Qualified Mortgage Leads

Using direct mail to get qualified mortgage leads is a simple and effective process once you know how to do it.  What is most important is understanding how the process works and how to effectively prepare the method to use direct mail to obtain your mortgage leads.  E-mail has increased the communication possiblities for many mortgage companies, but also must be used carefully due to span laws and other considerations.  In addition, many other new forms of digital mailing are now available to be used.

Always keep your letter, whether it is an e-mail or physical letter, as personal and real as possible.  Being personal and speaking as a person to another person rather than as an impersonal business entity can make an important distinction and make the difference in whether or not your recieve a qualified mortgage lead.  It is important to regularly e-mail on a frequent basis, especially if you wish to increase your potential level of qualified leads.  The fewer steps you make both for contacting you and for obtaining a mortgage will assist you in obtaining even more qualified mortgage leads, and may also decrease the time and effort it takes for you to reach others.

Another very important aspect that many overlook is a personalized signature, and also including more contact information.  It is surprising how often individuals who contact potential qualified mortgage leads do not include proper contact information, which potentially ends any potential client communication.  In addition, to facilitate further communication, it is best to add into your direct mail a way to communicate via phone, as many individuals do not feel comfortable corresponding maily by mail. 

The most critical aspect of a direct mail piece that generates the greatest customer response is the Post Script, this gives the consumer on the recieving end of the mail the feeling that you are contacting them with a personal message.  The post script increases response rates by 30%, and this is a known fact in direct mail that when someone reads the message, they first scan over quickly to the bottom of the letter and look for the most important part of the message.  By taking the right steps in direct mail marketing, you will reach more mortgage leads.

Is Direct Mail Dead?

Much is being written nowadays about the death of direct mail.  What people are saying is that the internet is making direct mail obsolete.   Yeah, the internet is making direct mail obsolete just like it’s making television, radio, and telephones obsolete.  This is just like saying our economy is dead and no one is buying or selling goods.

When television was invented, people predicted the demise of the movie industry.  We all know that hasn’t happened.  In fact, movies are one of television’s biggest advertisers.  The TV and movie industries are working together.  And that’s what’s already happening with the internet and direct mail.  Internet leads will not win out over direct mail, when direct mail has such a sucess rate with targetability.

There are alot of promotional mediums out there that you can choose from today.  Space advertising in magazines or newspapers.  Billboard ads on the side of the interstate.  TV or radio commericals.  The newest form Email blasts across the world wide web.  All of these mediums lack one fundamental thing, targetability.  Direct mail allows you to pin point the exact group or individual that you want to talk to.  With today’s technology we can even personalize your message so that it directly talks to that individual on a one to one basis. Direct mail also offers you the piece of mind that your message actually reached it’s target recipient. 

Direct mail offers something none of the other main stream mediums can deliver, “perceived value”.  What does that mean?  It means that you will be placing a tangible object in your recipients’ hands that he or she can hold, feel, fondle, and even smell if you’d like.   Unlike those endless emails that you delete every morning from your junk box, your message is enclosed in a promotional vehicle that if designed correctly will compel your recipient to place it on their counter or in their car, rather than throw it in their trash.

Reach Your Customers with Design

Being a handyman around your house can save you a ton of money.. if you know what you are doing.  Writing and desiging your direct mail piece is no different than repairing your home.  Do it right, and you’re pocketing extra change.  Do it wrong, and you may as well be throwing your money into the gutter.

Many businesses are tempted to write and design their own direct mail piece unaided.  It seems easy, and doing so can save you money and be fun at the same time.  I’m sure everyone thinks OK how hard can it be to type a few words about my products and get them printed.  It’s pretty much like the thank you letters that I have been sending my clients for years, but now I have to tailor it a little for new clients, right?  Actually, writing text that sells is harder than you think.  Another key element is the design itself, now some people have a knack for design, but we know what works in this industry and today’s economy.

Tests have proven that poeple who read direct mail sales letters don’t start by actually reading the letter; they skim it quickly, and the first thing they read is the P.S.  The postscript is one of the most important parts of a letter, it is a powerful sales tool.

Strong verbiage and design separate the winners from the losers in direct mail.  We take our brand plus our message to create a real sense of trust amongst the reader.  You have to create a real sense of personal touch with your potential customer.  Everyone is flooded with direct mail these days, and if you don’t stand out from the crowd, you might as well have not wasted your money.

The quality we build into every direct mail campaign assures you of high residual value at the end of your campaign-real savings that lower your marketing costs!  This equates to higher bottom line profits at the end of the day.  Whether you are in the mortgage business, insurance business, or even Joe’s plumbing service, it takes a qualified message and design layout to ensure you create brand trust amongst your customers.

Mortgage Leads That Generate Cash

How are mortgage leads generated?  Mortgage marketing has many facets, using direct mail in today’s market seems to generate the most response.  Mortgage leads are generated from a large variety of sources, which can be compiled from the large database warehouses using automated valuation models.  There are lot’s of sources out there that offer pretty much the same data with some degree of variation.   Mortgage leads are compiled through county deed recordings and tax assesor information.  Mortgage leads are generated for conventional, sub-prime, hard money, VA, FHA, adjustable lenders and HUD.

Mortgage marketing has taken a turn and what used to work a few years ago, just doesn’t create the same response today.  Today’s markets of falling home prices, along with more stringent lending regulations, has created a ever growing database of mortgage data that can’t keep up to date.  In order to get a cleaner lead, we cross reference our leads against multiple sources, then utilize algroithims to combine and acquire the most accurate sources.  A good mortgage lead can only go so far without proper tracking and reporting of the lead.

A good mortgage lead is generated through multiple sources, utilizing various data compilation technolgies.  Mortgage leads can be generated from a master mortgage file which is composed of all mortgage recordings, it can be captured from the adjustable rate Rider document, and from the Housing and Urban Development Government Agency (HUD).  This data then can be appended with a waterfall process to get the most accurate home values and Loan To Value (LTV) values.  With a good mortgage lead and a good marketing campaign you can have a sucessful mortgage marketing plan to bring in qualified candidates that are receptive to your programs.  Using direct mail as a part of this marketing plan allows you to target these specific customers on a one to one basis.

Generate Mortgage Mail Leads

Direct mail is used prevalently in the mortgage industry today as a form of direct contact between lenders and consumers.  The mortgage industry is a rapidly changing environment, and direct mail is the quickest most cost effective method to get your phone’s ringing.  With mortgage marketing you have to tailor your campaign material to each consumer, and then you have to make sure you target the right consumer.

Mass media - radio, television, newspapers, billboards, mass-circulation magazines, sky writing, whatever - don’t offer much in the way of audience selectivity.  They succeed by reaching just about everyone regardless of their interests, education, occupation, gender, age, religion, hobbies - whatever characteristic you’d care to name.  So advertising messages placed in these media often strive for the broadest appeals possible, hoping to interest enough people in whatever product or service being promoted.  Direct mail in contrast lets you be very selective in terms of audience.  This allows you to maximize on your marketing spending by sending out a beautifully presented offer to people who are actually interested in your product or services.

Mortgage marketing data is compiled from the top compilers in the country through county deed recordings and tax assessor information.  Mortgage data is available in all recordings from conventional, sub-prime, hard-money, VA, FHA and adjustable lenders as well as HUD.

Once the data is compiled, we cross reference the data from the multiple sources and utilize algorithims to acquire and combine the most accurate sources.  Our data is cleaned utilizing address standardization, Cass certification, and NCOA’d before output to ensure the cleanest data available.  We then use a waterfall append process to populate the dtabase with high quality hedonic AVM models to ensure the most accurate home values and LTV values.  This ensure that we deliver the most qualified data list for your mortgatge marketing campaign.

Direct Mail Funnel Cycle

You want to know if direct mail is really effective. You want some statistics about direct mail. And you want to know which kinds of products work through direct mail and which don’t. You’ve come to the right place.

Some people think that doing direct mail has to be a breeze.  You just write up the sales message; print it on a postcard, stuff it into an envelope, and mail it.  Then you just sit back and wait for the phone’s to start ringing, deals to be funded and checks to roll in. Right?

Not quite. It’s actually more complicated than that.

What do you want a person in your target audience to do when he or she reads your selling message in the mail?

This question and your answer should be the driving force of everything you do in your marketing campaign.

With Direct Mail you are targeting consumers directly and the customer is the one taking control and contacting you, with internet leads you have to pound the phone all day, and sometimes spend up to 20 minutes per call with no resolve.  Direct mail is a personal medium and allows you to get 1 on 1 with customers without being face to face, giving consumers an easy connection to local services.  We bring the consumer directly to you, now knowing they need help you can tailor the best program for their situation.  We are able to empower the consumer and strengthen their trust in the industry.

Target Your Consumers