Direct Mail Marketing for Reverse Mortgages
A successful direct mail marketing campaign for reverse mortgages relies on a few factors. These factors include a mailing list that is accurate, targeted and current, and a quality distribution piece that generates the right first impression on target customers and clients. Reverse mortgage marketing is competitive, and there’s no time more important than the present to stand out from the competition with a sophisticated and clear message and delivery method. The good news is this is possible and with the help of an agent you can develop a strategy that is not only cost-effective but brings you a good return on investment (ROI).
Direct Mail Options for Reverse Mortgage Marketing
There are many different options available for your reverse mortgage marketing campaign. You can choose a variety of formats to suit your budget, style, and approach. Here are some of the options available to you.
- Letter: Great for reverse mortgage notifications, these monochrome or color letters can deliver your information or a personal message directly to your prospects.
- Flyers: You can deliver these pieces through the mail as a standalone item to make a sudden impact and encourage your prospects to take immediate action. These are great to remind them of mortgage refinancing opportunities, rate changes, upcoming mortgage events, and more.
- Inserts: These free-standing inserts (FSIs) are single sheet ads placed in the middle of newspapers that are sent to readers in specific areas. They can offer promotions, including details on current sales, mini-catalogues, and launch announcements of new products.
- Postcards: This option is ideal for using creative imagery to showcase your reverse mortgage services.
10 Effective Tips for Your Reverse Mortgage Direct Mail Campaign
1. Have a Plan
The commitment you make to your direct mail marketing campaign will pay off over time, but it’s a good idea to have a 12-month strategy before you send out your first marketing piece. Once your program is launched, you need to be consistent.
2. Create an Effective Image
Choose a message and graphic that you want to project before your mail is distributed. This piece of direct mail represents you and your business, so first impressions count. Each piece reflects your established company brand, so make sure you choose an image that is eye-catching and reflects your offer well.
3. Try Different Ideas
Experimenting with different designs, content, packaging, offers, and calls to action will help you figure out what works and what doesn’t. Trying different approaches until you get the desired response works. Remember that offering your prospects valuable information can encourage responses.
4. Don’t Use Generic Formats/Messages
Make your delivery pieces personal by including the name of the occupant instead of addressing it to “resident” or “homeowner.” Studies have shown that the best responses come from envelopes that are hand-addressed and stamped with a first-class stamp instead of bulk mail designs.
5. You Need a Call to Action (CTA)
Your mailer cannot be effective if you do not tell your prospect how they can act in regards to it. A call to action (CTA) is required to provide specific instructions about what you want them to do once they’ve read your message. “Call now,” or “visit our website and fill out an application” are two CTAs that work. You can also use your CTA to draw attention to your social media platforms so they can connect with you.
6. Use a Headline
There’s a fine line between generating excitement about your message and being overbearing. Do your best to avoid scammy, junk-mail type of copy that might turn off your reader. Instead, make sure your offer is effective by making it clear how your product or service will benefit your prospects.
7. Use Quality Writing
If you have bad copywriting, poor grammar, and terrible proofing, your direct mail marketing piece will be caught as unreliable by readers. If your readers are too distracted by a spelling error to understand your message you won’t receive the response you want. This is one of the most important elements of your entire campaign. Appearing professional and trustworthy is paramount to your campaign’s success.
8. Don’t Assume They Don’t Understand Technology
Even if you are targeting seniors, today’s older adults are lot more tech savvy than the previous generation. This means you should go forward with the assumption that they can understand and use computers and cell phones. Ask them to visit your web site to learn more about your business or direct them to your online forms. They may not have an active Instagram or Twitter page, but they will likely be able to Google your company and visit your web site.
9. Meet Their Needs
You are targeting your direct mail piece to people who need a reverse mortgage, therefore you need to make sure your offer meets their needs. When push comes to shove, meeting customer needs is what will help grow your business. There will always be people who will need a reverse mortgage, so make sure your message is getting out to people who are most likely to need your service.
10. Keep It Simple
If you are targeting seniors who are seeking a reverse mortgage, you will be reaching people who are either brilliantly tight with money or out of control with spending and debt. By keeping your message clear and concise, you will get your point across quickly.
Choose Macromark to Help You with Your Direct Mail Campaign
With over 30 years of experience, Macromark has grown to become one of the leaders of the direct mail industry. We help our clients target consumers with precision through our comprehensive list offerings, and work with clients on placing effective ads and direct mail pieces. We can help you stand out from your competitors and engage your prospects so you can grow your customer base and entice them to visit your store or web site.
If you are looking for a company to help lead your reverse mortgage direct mail marketing campaign, we’re the team you need. Our services also include print media, direct mail marketing, list brokerage, data solutions, list fulfillment, and list management. For more information about how we can help grow your business, contact us at 1-(845)-230-6300.
Image Source: iStock.com/Artur