The competitive housing market is gearing up for another very busy spring season. With mortgage purchase originations expected to grow 9% in 2022, more consumers, businesses, and even organizations will be seeking mortgage programs. If your company is poised to take on new clients, now is a fantastic time to create a mortgage company direct mail campaign to take advantage of the uptick in the mortgage lending market.
As part of a well-rounded marketing strategy, a targeted, data-driven direct mail campaign helps to dramatically increase new leads and mortgage loan conversions. We dig into why direct mail can be an optimal fit for mortgage lead generation and how you can supercharge your marketing efforts.
Why Use Direct Mail For Mortgage Lead Generation
In a marketing landscape that’s becoming increasingly digital, direct mail remains one of the best ways to reach potential customers. In fact, direct mail use among mortgage companies alone has grown 439% in the past three years and shows no signs of slowing down precisely because of the overly crowded online space. Modern direct mail can leverage the modern data-driven targeting and list curation strategies to be the perfect complement to mortgage lending marketing programs.
Here are a few of the reasons mortgage companies prefer direct mail marketing:
- Cost-effective: When done right, direct mail is far more cost-effective than many other alternative marketing strategies.
- Targeted: With data-driven mailing lists, you can rest assured that your ads will target only the most qualified leads, boosting awareness and conversions.
- Customizable: Mortgage direct mail products come in a variety of designs and are highly customizable, allowing you to stay on brand while sending the exact message you want to the right people.
- Trackable: With advances in technology, direct mail marketing strategies are now more trackable than ever before. You’ll be able to see if your efforts are working and adjust when needed.
- Off-line still works: Online advertising will always have its place in mortgage marketing, but direct mail is still an effective way to generate leads.
Use Custom, Data-Driven Mortgage Direct Mailing Lists
The first step to incorporating direct mail into your marketing strategy is to identify the ideal customer profiles that could become your next potential leads. Using a number of different factors, such as loan type, mortgage/interest rates, and other important demographic information, you can target the households that are most likely to need your services.
Mortgage direct mailing lists are an essential part of reaching the right customers and informing them about your business. Since these lists are such a crucial element of your campaign’s success rates, it’s a good idea to turn to experts for help creating them. Direct mail experts will conduct a thorough review of the specific demographics in the neighborhoods you’re targeting, so you’ll know exactly whom you should be sending your direct mailers to.
If you already have mailing lists that aren’t performing as they should, direct mail list experts can also analyze them and make recommendations for improvement. They may even suggest additional names to add to your list or provide a “new movers” list.
Use A Range of Letters, Flyers & Postcards
After you’ve compiled your mailing list, the next step is to choose the best direct mail products to help you effectively reach these new leads. The three most popular choices for mortgage company direct mail marketing programs are personalized letters, flyers and postcards, each with its own advantages.
Mortgage Letters & Envelopes
Out of all the options, they feel the most formal and have more space for any information you may want to send. Mortgage letters are great for rate changes, previously funded, and many other types of notifications.
Somewhere between a traditional postcard and a letter is a customized flyer that can both get a potential client’s attention and deliver a relevant message. Sizes, designs and messaging can vary depending on the marketing goals of the company making them a highly flexible option.
Simple and straightforward, postcards are the most cost-effective choice to get into every lead’s mailbox. They are ideal for a quick message along with creative imagery and a call to action, featuring your business’ contact information.
Use Personalized Experiences With Variable Data Mailing
The best way for mortgage lenders to generate more potential leads using a direct mail campaign is to create a personalized experience using customer data and evolving trends.
The mortgage types and rates that your company offers will likely vary based on a potential customer’s qualifications, such as credit score and rental/buyer status. By accessing this information, you’ll be able to customize the kinds of direct mail you send to specific addresses and hopefully increase response rates.
For example, direct mail messages offering low down payment options can increase response rates for first-time homebuyers discouraged by the initial financial requirements of a mortgage. A well-executed direct mail campaign using customized imagery and messaging will be able to reach more qualified leads and encourage them to learn more about what your company has to offer.
Learn More About Your Mortgage Company Direct Mail Options
A direct mail campaign integrated into a well-rounded marketing strategy with multiple touchpoints is a great way to ensure that you’re reaching potential customers at every step. The team at One Stop Mail has experience in a wide variety of industries, including finance, and will be happy to help you achieve the best results possible from your mortgage direct mail campaign.
From choosing your direct mail products to compiling targeted mailing lists, our experts will work with you through every step to help your campaign perform at its best.