How to Use Direct Mail to Inspire a Home Loan
Plummeting mortgage application volume, stubbornly high interest rates, surging inflation—these trends have grabbed the top headlines on leading industry websites during the first eight months of 2022.
Yes, the current housing market is one of the most challenging in recent memory. Which, of course, means that finding and implementing strategies to convert leads into closed loans is more crucial than ever.
Well, we are here to inform you that an impactful marketing solution today’s loan officers are utilizing is one that’s frequently derided for being too “old school”: direct mail. Don’t believe us? Take a look at these numbers: According to the Direct Marketing Association, direct mail response rates are 9% for a house list and 5% for a prospect list. For comparison, email has a 1% response rate to a house list and 1% to a prospect list.
Here is a quick rundown of the various ways direct mail can help inspire your customers to move forward with a home loan …
Connect at the right moment
Today’s consumers are inundated with advertising messaging, whether it is on television or the Internet or in magazines and newspapers. Building personal, one-to-one relationships with customers is becoming increasingly challenging.
With direct mail, loan officers can cut through the noise and clutter and reach out at the right moment to provide the right solution. This can take the form of a direct mail campaign that offers credit-rebuilding tips to a homebuyer whose mortgage application was just denied. Or a home loan “check-up” mailer to a borrower whose ARM is on the verge of adjusting. Whatever the case, direct mail is perfect for delivering timely, targeted communications to customers in need.
Make your customers feel valued
As any successful loan officer knows, making customers aware of how much you value them is truly essential. Those who thrive in the mortgage industry think about their businesses in terms of relationships rather than transactions.
Thanks to its multitude of formats, high level of personalization, and blend of quality imagery and messaging, direct mail allows you to connect on a more emotional level—whether it is a holiday-themed note, a happy birthday greeting, or even a celebration of a borrower’s mortgage “anniversary.” A direct mail piece that offers value will show your customers how much they are valuable to you. (And hopefully, inspire them to move forward with a loan!)
Promote a shared experience
Customers want to feel as though they are part of something. They enjoy shared experiences and relating to other humans.
The right direct mail campaigns create a sense of exclusivity—without coming across as inauthentic, of course—by inviting a customer to take part in a special, collaborative experience. Examples include mailers that provide information on limited-time-only grant assistance or unique first-time buyer programs. Or a high-quality postcard urging customers to celebrate National Homeownership Month by moving forward with a home purchase.
Ready to connect?
Are you looking to take advantage of direct mail marketing? If so, we can provide information on Volly’s in-house, world-class digital printing facility and manufacturing environment.