Jun 04, 2012
6 Ways Direct Mail Can Help Mortgage Lenders Build Trust
Consumers want to find a mortgage lender they can trust. Yet according to a recent study by J.D. Power and Associates, Americans are finding that harder to do. Consumers now overwhelmingly perceive banks to be profit-driven rather than customer-driven. What does that mean for you? It means you have a challenge – and an incredible opportunity – in positioning yourself as a trustworthy, customer-focused mortgage lender.
Direct mail, which studies show engenders more trust in recipients than e-mail or telemarketing, can be a great way to deliver your message of trustworthiness and customer-centricity. Here are six ways direct mail can help you gain the trust of your prospective mortgage clients and maintain a strong relationship with your current ones:
1. Use a real property mailing list to target refinance candidates in your area. In most areas of the country, the housing market is showing signs of a rebound. At the same time, interest rates are still at or near historic lows. Take advantage of this unique time by building a mailing list of homeowners who might be candidates for a refinance (you can select based on home equity, home loan amount, market value, and a range of other indicators). Send a letter explaining that interest rates are at historic lows and – this is important – why the homeowner should consider refinancing with you.
2. Get a list of renters to send a “Have you thought about buying?” postcard series. For qualified borrowers, now can be a great time to buy a home. Use a Click2Mail occupant mailing list to find a list of renters. Then mail a series of jumbo postcards highlighting the reasons why they should call you and talk about buying a home (be sincere and don’t sugarcoat things). With Click2Mail, you can schedule your whole campaign at once.
3. Send a reply card that prospects can fill out and return to you. Research shows that reply cards often generate a higher response than other calls to action, so add a reply card into the mix and test the results. Design the part of the card that the recipient keeps to show the financial benefits of getting a mortgage with you – savings over renting, for example, or savings with a new lower rate.
4. Send a letter to introduce yourself and your business to the community. There is a lot to be said about the trust associated with a truly local mortgage lender – a real human being who’s a member of the community. If you’re new to the area, send a letter introducing yourself. Talk about your feelings about being part of the community.
With Every Door Direct Mail (EDDM) you can send a mailer to every address on the postal carrier route, eliminating the cost of purchasing a mailing list, and postage is just 14.5 cents per piece. Choose from two postcard-like formats for an attention-grabbing “Glad to be part of the neighborhood!” mailer.
If you’re not new to the area, you can still play up the local community element with a regular monthly newsletter (a flyer self-mailer or booklet self-mailer). Talk some about finance-related issues (include a chart of interest rates and local home prices) but also talk about what’s happening in the community. The more you’re a part of the neighborhood, the more people will trust you.
5. For your current clients, use our postcard to stay in touch and to let them you’re still there for them. Building trust takes constant communication and effort, so touch base with your current customers regularly. A short and to-the-point message (plus your contact information) that reinforces your brand (that’s brand you) is sufficient.
6. For critical, time-sensitive, or confidential messages, send Certified Mail or Priority Mail. You know when you are required by regulation to send documents by Certified Mail (or when you need to have a record of receipt). But even when it’s not required, sending Certified Mail or Priority Mail gives your direct mail an air of importance. Everyone opens Certified and Priority Mail. Don’t abuse that by sending marketing fluff, but when you have an important message to convey, go Certified or Priority.
Direct mail can help you to build the trust that consumers are finding harder and harder to come by in mortgage brokers. Using these six tips, you can be the exception – and reap the huge rewards that will come with it. Click2Mail can help; let’s get started today.