Two powerful direct mail marketing secrets revealedEdward Englishconsumer direct mail, do-not-call lists
The truth be told, todays mortgage marketing push is toward
consumer direct mail. With 70 percent of U.S. consumers on state
and federal do-not-call lists, companies utilizing telemarketing
are missing out on a huge portion of their available target
audience. The do-not-call lists are growing immensely with no end
in sight. Internet lead and live transfer companies are running
into the same dilemma - a diminishing target audience. Response
rates have dropped considerably over time as many utilize
telemarketing and the Internet as marketing methods. Limiting
telemarketing effectiveness even further is a pending law that will
ban the use of automated voice telemarketing systems, effective
Jan. 1. Those are the ones that solicit by recording when the call
is answered. Another problem plaguing Internet lead companies is
non-exclusivity. Many Internet leads are sold many times over to
non-suspecting mortgage brokers. The only true exclusive lead is
consumer direct mail - a response-driven lead. Consumer direct mail
produces an exclusive inbound call from a warm prospect. A
prevailing advantage of direct mail is the ability to target
consumers by many factors, e.g., loan type, current mortgage
amount, date of loan issue, lender type and geographic location
down to the ZIP code. Utilizing these factors generates a direct
mail list that appeals to a targeted audience that is the most
likely to respond.
To best gauge your direct mail campaign results, important steps
must be taken by the mailing company placing a tracking mechanism
on each mail piece delivered and every inbound call generated. The
following systems create detailed reports tracking the performance
of your campaigns. You will know the how, when and why for each
campaign. Detailed tracking allows you to perfect your future
campaigns for peak success. These tracking tools are very effective
in differing markets. Every market area has its own unique
marketing characteristics.
The first tracking system to utilize on all direct mail
campaigns is bar code tracking. Many magazine and newspaper
publishers are utilizing this powerful tracking mechanism. Look at
the address panel on periodicals you receive and you will see a
second bar code beneath the addressee. This bar code is linked
individually to each mail piece and the post office. These bar
codes are scanned when each mail piece arrives for delivery to the
consumer. Mailing companies providing bar code tracking will
provide detailed reports for each campaign. The tracking report
details include the name of the mailing campaign, date of mailing,
total number of pieces in the campaign, number of mail pieces
scanned for delivery and number of mail pieces pending delivery.
Bar code tracking eliminates concerns of when (and if) your mail
campaign has been delivered. Knowing that the direct mail company
fulfills your direct mail campaigns provides peace of mind. An
important consideration when choosing a mailing company is whether
all of your mail really is getting printed and sent out. Bar code
tracking eliminates fulfillment concerns.
The second tracking mechanism that must be utilized on all
direct mail campaigns is 800 number call capture. Call capture is
very affordable and available from various vendors. Call capture
service allows you to see, in real time, the phone number each
prospect is calling from, along with his name and address. Many
systems will record the audio, providing a training aid for your
management team. The system is programmed to ring directly to any
phone number you choose, giving you the ability to answer calls in
the evening and on weekends. Online, you can also set the desired
number of rings before a call is forwarded or sent to voicemail.
Should a call come in that is not answered, you will be able to
obtain the call details online, permitting a quick return call,
even if the caller did not leave a voice message. This is a
powerful tool to catch a prospect while he is in the mindset of
speaking to someone about the mail piece he received. Caller ID
blocking does not prevent you from getting the callers number.
Toll-free numbers capture the number by another method. Since you
are paying for the call, you are entitled to the number of the
caller. Tracking your inbound calls for each direct mail campaign
arms you with valuable information to help improve the
effectiveness of future campaigns. Utilizing more than one 800
number allows you to track numerous campaigns, pinpointing hot
spots in your market area. Many systems offer bar-graph and
pie-chart reporting that can be utilized in your marketing reports
or staff meetings.
Both of these powerful tracking systems are a must for all
direct mail campaigns. Each is very cost effective and should not
be overlooked. These services should be looked at as more of an
insurance policy and marketing tool than an added cost. By
utilizing these tracking systems, you will be able to fully analyze
each campaign, permitting you to improve on future campaigns. Armed
with this knowledge, you can stay one step ahead of your
competition (not to mention the peace of mind you will have,
knowing that all your mail pieces are getting delivered). Your
return on investment will improve month after month, far out
weighing the minimal cost associated with these tracking
systems.
Edward English serves as vice president of Wall Street List, a Coral
Springs, Fla.-based direct marketing agency. He may be reached at
(888) 833-5478 or e-mail
[email protected].
