The expanded FHA MIP rules released in early 2012 and HARP 2. zero have allowed many consumers stuck in high interest rate loans to refinance. This has create a free-for-all in the mortgage industry to market to this segment. Mortgage professionals are also benefitting from this scenario because of the surplus of new trigger leads available for direct mail marketing campaigns. While triggers are a valuable resource to finding borrowers who are seeking to refinance their loans, factors such as timeliness of the advertising campaign, and a solid sales power, are necessary to be successful. KJ Mortgage
Trigger leads are created when someone is looking to take away a loan or refinance their existing one, and has their credit taken. Databases are compiled and sold to mortgage pros as either mail or phone data. Triggers are available as either daily, weekly, or monthly prospect lists, with a better premium centered on daily triggers scheduled to their timeliness factor.
Trigger leads have the potential to be highly reliable at finding leads considering refinancing now. They will have recently had their credit pulled at a competing mortgage shop to learn about a refinance. A direct mail marketing marketing campaign can be an efficient method for mortgage shops to achieve a regular flow of customers. Mortgage shops looking to market with triggers need to find a mortgage loan marketing company that is able to respond on time with a targeted regular mail advertisement to these prospects before they sign with the shop where they had their credit taken.
With timeliness being such a huge factor, a mortgage marketing firm must be able to handle the complete marketing advertising campaign in-house. Outsourcing anything from the printing, mailing, data lists, or the advertising campaign design, will add time and money into the campaign, which may finally be the deciding factor between an excellent direct email marketing campaign.
Having a good sales team is also very important to the success of an immediate mail marketing campaign using trigger leads. These individuals have already visited a competing mortgage shop. On the other hand, most people are wide open to getting than one proposal contracts a package. The average close rate for a well-trained sales force can be 20% or maybe more of the inbound calling from a direct email advertising campaign. Phone lists can even be associated with the immediate mail campaign, to follow along with up after the mailing.
Cause leads can be an efficient method for mortgage agents to gain a steady and reliable flow of recent customers. Mortgage marketing retailers that do direct mailbox marketing in-house (everything from the e-mail lists to the print and mail), can make all the difference in your campaign’s success. When we explored a mortgage marketing company, make sure you take a look at their experience and reputation – your reputation is on the line whenever you do an advertising campaign; so be sure to partner with the right company.