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Mailing Lists - The Key To Success
Reach out to any community you choose. We can provide you with records of all households within any geographic area. Target your area by state, county or even Zip Codes. Target specific Zip Codes to reach those within the immediate area surrounding your office. If you have multiple offices, we can target entire counties, or even the entire state.
Purchase just the mailing/telemarketing list, or have us conduct a marketing
campaign for you. Our marketing system has helped
over 5,000 mortgage brokers nationwide to expand their client base.
What are the secrets to achieving higher response rates?
Of course, there are many components that go into creating a successful direct mail campaign. Below we have identified several key factors.
1. The Mailing List: This perhaps is the single biggest reason for the success of any direct mail campaign. Most brokers discount the importance of the mailing list/ database. This is a critical mistake that most brokers often make. Targeting the precise profile of the borrower or prospect is the key to getting higher response rates.
2. Building Your Data File: First, identify the type of borrower you are looking to contact. Are you looking for sub-prime, conforming, bankruptcy, etc.? Once you have established this, only then can you begin the process of building your list. Here is an example of how to build a successful database.
Let’s say you want to target a sub-prime borrower. There are several additional filters/criteria that you will want to incorporate other than just using a sub-prime lenders list. Yes, starting with a homeowner that has their mortgage with a known sub-prime lender is a good start, but that’s just the beginning.
Here are some suggestions: Let’s start by adding revolving debt as a filter. You can select a minimum amount of debt load that you would like the consumer/homeowners to have. Typically, we will use 10,000 dollars as a starting point. Next, let us make sure that the homeowner has enough equity to help to ensure the loan approval will not be a problem. We find that an 80% LTV (20% equity position) is recommended. You may also want to use a FICO range to further tailor your ‘prospective’ borrower.
By taking the time to ‘build’ your data file by using filters and selects, you will increase your chances for success. After all, direct mail is a numbers game!
3. Cycling Your Data File: One of the purposes for marketing via direct mail is to create ‘name branding.’ The easiest way to accomplish this is by repeated mailings to the same data file/ mailing list. The homeowner/ borrower will only recognize your company’s name and your name by consistently ‘seeing’ your name or company logo over a period of time. That is why we strongly suggest mailing 3 times to the same data file.
We have found that each successive mailing, after the initial mailing, will produce a higher response rate. Usually, 3 times is the maximum for using each data file.
4. Know the demographics of your area: Know your market! When purchasing your data file/mailing list make sure you are targeting the proper market for the campaign you are launching. Example: It would not make sense to target an affluent area, if your mailer is designed for a bankruptcy candidate. Another example would be, you would not target an area with predominantly single-family homes, if you’re conducting a renters –to- purchase campaign.
We are the leaders in generating new business for the mortgage community!
FOR A FREE LIST QUOTE CALL US AT: 877.905.6245
A+ Letter Service • 200 Syracuse Court • Lakewood, NJ 08701
TOLL FREE: 877-905-6245 (Ext. 265) FAX: 732-905-4662
