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Summer is here, and there are particular items to take into consideration when planning your marketing strategy. Before sending out any marketing materials, spend some time thinking about what your prospects are doing. In the summer months, it’s more important than ever to take your prospect’s lifestyle into consideration before putting together your campaign. Consumers with families are more likely to be on vacation during the summer months, your marketing efforts can be an intricate part of your growth over these months. Here’s a quick look at some effective planning techniques that can produce higher return-on-investment throughout the summer season.
To effectively plan your marketing at any time, it’s important to think about your prospects and what they will be doing when they receive your marketing collateral. Whether you market via direct mail, telemarketing or online marketing like SEO, Google AdWords or Internet leads, it’s important to know what the person might be doing when initial contact is made. Are they on vacation, at work or at home? Each of these scenarios will play out differently through the sales process.
Make sure you are spending time thinking through your own demographic research, marketing campaign and sales process. How do they fit together? Can you use a different sales approach to make the conversation easier with a smoother transition to closing?
Most importantly, what’s going to bring you the highest return-on-investment (ROI) during the summer? People on vacation don’t always leave their homes. For this reason, direct mail marketing is a consistent provider of qualified interested leads all summer long. Response rates have been on the rise all year, and this summer is shaping up to produce higher response rates than the previous three years!
TagQuest client spotlight
Ian O’Connor (Ind. NMLS#: 1020018) of Capital Home Loans Inc. (Corp. NMLS#: 1388956) ♦ Cedar Knolls, N.J.
(973) 607-3777, ext. 102 ♦ IOConnor@CapHomeLoans.net
Product: Data (7,500 records per quarter)
Results: Sixteen closed loans in the first quarter and 11 applications in processing expected to close
Highlights of the campaign that work well for you …
“The accuracy of the data and the near exclusive contact with the borrower, as they are not looking into a mortgage product at that moment, allows us to get much softer responses from a borrower than with traditional inquiries. When we reach someone and identify that they need help with payment reduction or rate reduction they usually move quickly through the process.
“While the response rate is obviously lower than traditional lead marketing, our entire telemarketing operation has evolved to a high volume of calls, with a triage system in place for borrowers. Rather than chasing a single application until its eventual disinterested, with this data, if we do not get an immediate response, i.e. credit pull/docs out, the data is recycled and we approach them a few weeks later. TagQuest has facilitated a much lower cost of acquisition with excellent results to date.”
Highlights of the campaign that you think would appeal to other mortgage professionals …
►TagQuest is very responsive to testing different markets and approaches.
►A sales team that is eager to sell products that are performing well.
►Any breakdown in data accuracy analyzed by TagQuest. Data integrity is very important to them.
►Success out of the gate with a solid telemarketing team.
Based in Medford, Ore., TagQuest Inc. is a full-service marketing firm developed throughout the ever-changing mortgage industry. Utilizing industry knowledge, marketing expertise, and technology we implement any or all aspects of your marketing and/or advertising campaigns. With a proven track record, more than 10 years in business, and decades of experience TagQuest knows what it takes to produce unprecedented results in today’s fast-paced mortgage environment. For more information, call (888) 717-8980 or visit TagQuest.com.
This article originally appeared in the April 2016 print edition of National Mortgage Professional Magazine.