Choose whether you are going to market through the holidays or not ... some people do and some people don’t. That’s what makes marketing through the holidays so interesting. If you choose to market, understand that your expected response rates should be less than usual. That being said, you should also expect to close at a much higher rate as well. People who are purchasing and refinancing their homes during the holidays are MOTIVATED. That’s why close ratios go up. For each person who decides not to market during the holidays, there is another who decides to stick with it. For this reason, results can vary through the holidays. To overcome this, maintain consistency. Whatever sort of marketing campaign you do, keep it going! Failure to maintain consistency is the biggest holiday campaign killer of them all. You’ve got to get in front of those people who want to move and entice them to do so with you.
Hot tip … what’s working best this holiday season?
Direct mail … yes, I said it. Direct mail response rates have been on the rise since late summer and are now back to historically high response rates and close ratios! We’ve been tracking responses over two percent in some heavily marketed states like California, Maryland, and it’s working even better in others. If you haven’t tried direct mail marketing in a while, it’s time you gave it another look. You can pick your own criteria and get the phone ringing with qualified and interested prospects who want to talk with you.
Each month, we like to talk with our clients and find out how their campaigns are going. Here’s what we heard from one of our mortgage pros, Keith Brewer, president of Baltimore, Md.-based Liberty United Mortgage on the results of their direct mail marketing. Here are a few findings:
►15,000 total mail pieces sent
►19 loans closed already
►Six loans still in the pipeline to close
Highlights of campaign that work well for you: “Clients call extremely interested with great loan amounts for a high ROI.”
Highlights of growth that could appeal to other loan officers or offices: “In this market it is great to have such interested borrowers that qualify based on the data we mail to, calling exclusively to us for a loan. With loan amounts well above average for the area it makes for a nice return with the compensation rules we deal with.”
Keith Brewer is president of Liberty United Mortgage. He may be reached by phone at (443) 996-1240 or e-mail [email protected]
Medford, Ore.-based TagQuest is a full-service marketing firm created specifically for the ever-changing business world. TagQuest assists companies with their direct marketing, advertising and branding needs, and knows what it takes to generate quality customers and, most importantly, how to retain those customers for years to come. TagQuest brings forth a unique opportunity to utilize our experience and expertise in varying consumer sales and marketing environments. For more information, call (866) 376-5540 or visit Tagquest.com.