25 Feb 2019

How To Use Direct Mail to Inspire a Loan

Direct mail to inspire a loanWhen the housing forecasts came in for 2019, they weren’t exactly optimistic.

Realtor.com predicted that rising interest rates would put homeownership further out of reach for Generation Z and Millennial buyers. Refinancing activity was expected to slow down considerably. Total home sales were estimated to increase—but only by 1%.

All signs are pointing to a more challenging housing market. Which, of course, means that finding and implementing strategies to convert those leads into closed loans will be more important than ever.

Well, we’re here to let you know that one of the most impactful marketing solutions loan officers are utilizing is one that’s frequently derided for being too “old school”: direct mail. Don’t believe us? Take a look at these numbers: Direct mail response rates check in at 3.7%—compared to 2% for mobile, 1% for email, and 1% for social media.

Here’s a quick rundown of the ways direct mail can help inspire your customers to move forward with a home loan …

Connect at the right moment

Today’s consumers are inundated with advertising messaging, whether it’s on television or the Internet or in magazines and newspapers. Building personal, one-to-one relationships with customers is becoming increasingly challenging.

With direct mail, loan officers can cut through the noise and clutter and reach out at the right moment to provide that right solution. This can take the form of, say … a direct mail campaign that offers credit-rebuilding tips to an applicant who was just turned down for a mortgage. Or maybe a mortgage “check-up” mailer to a borrower whose ARM is on the verge of adjusting. Whatever the case, direct mail is perfect for delivering timely, targeted communications to customers in need.

Make your customers feel valued

As any successful loan officer knows, making customers aware of how much you value them is truly essential. Those who thrive in the mortgage industry think about their businesses in terms of relationships rather than transactions.

Thanks to its multitude of formats, high level of personalization, and blend of quality imagery and messaging, direct mail allows you to connect on a more emotional level—whether it’s a holiday-themed message, a happy birthday greeting, or even a celebration of a borrower’s mortgage “anniversary.” A direct mail piece that offers value will show your customers how much they are valuable to you. (And hopefully, inspire them to move forward with a loan!)

Promote a shared experience

Customers want to feel as though they’re part of something. They enjoy shared experiences and relating to other humans.

The right direct mail campaigns create a sense of exclusivity—without coming across as inauthentic, of course—by inviting a customer to take part in a special, collaborative experience. Examples include mailers that provide information on limited-time-only grant assistance or unique first-time buyer programs. Or a high-quality postcard urging customers to celebrate National Homeownership Month by moving forward with a home purchase.

Ready to incorporate direct mail into your 2019 marketing efforts? Take a moment to learn about LoyaltyExpress’ in-house, world-class digital printing facility and manufacturing environment. Get in touch with us today!

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