Ring in the New Year with a bang! We all have New Year’s resolutions to be more profitable than we were in 2013. Here are some good suggestions we’ve gathered from mortgage professionals all over the nation:
1. Get started early
A lot of people wait until after the holidays are over to start planning their marketing. Tip … begin to strategize in December and let your phones ring in the New Year.
b. You can affectively plan your entire first quarter before the end of December. Get a few last minute tax deductions that pay you in 2014.
2. Start strong
Plan 2014 as if it’s going to be the best year ever. Getting the year off to a strong start really sets the tone for the year and you apart from the competition. And having some extra funds allows for better maneuverability with the market throughout the year.
Just because you spent all that time planning your marketing does not mean it will always work. Markets change and you need to be prepared if they do. Nobody knows what rates will do in 2014 so having a Plan B, C and even D in place will eliminate any roadblocks and lock in your success.
Hot tip: What marketing program is working best this holiday season?
Direct mail! Yes we said it again! Direct mail response rates have been on the rise since late summer and are now continuing at 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 & interested prospects that 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 professionals in Texas on the results of their direct mail marketing:
►15,000 mail pieces sent bi-weekly in November over 36 states
►30,000 total mail pieces sent out
►A response rate of 1.02 percent
►306 totals calls (and still coming in)
►29 closings already
►12 closings still in the pipeline
Highlights of campaign that work well for you:
“We like direct mail because it allows us to target our own prospects.
Highlights of growth that could appeal to other loan officers or offices:
“You don’t have to compete with others for these leads and we like that.”
—John S., Broker, Dallas, Texas
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.