Mortgage Email Marketing – Increasing Email Open Rates

email envelope iconAccording to the Direct Marketing Association, each dollar spent on e-mail marketing in 2011 had a return on investment (ROI) of $40.56.

One reason for e-mail marketing’s high ROI is its low cost. Mailing postcards to a list of 1,000 prospects costs about $300 each time. Sending an e-mail newsletter to the same list often costs $30 a month for as many as six issues, depending on your fulfillment provider.

One of the keys to maximizing your e-mail marketing ROI is to send e-newletters and to ensure they are opened.

Here are seven tips for increasing your e-newsletter open rates:

1. Get permission.

People will more likely open e-mail newsletters they are expecting and ignore ones they aren’t. Therefore, ask for permission before sending your e-newsletter.

This starts with your first list of subscribers. Ask everyone who contacts your office if they would like to receive information from you via e-mail. Ask every Internet lead and every client. Ask every networking contact who is in a similar business (e.g., real estate agents, certified public accountants, financial advisers, etc.). Ask everyone who attends any workshop you host.

The keys to getting people to say yes are to make them a great offer and to assure them that you respect their privacy. A great offer may be a special report with information that is otherwise difficult for consumers to find, such as “10 Ways To Boost your Chances of Getting an SBA Loan”

2. Send something immediately.

Provide your e-newsletter subscribers valuable, pertinent information as soon as they sign up. If you are going to send a special report, for instance, consider splitting it up into seven auto-responder e-mails. The first will go out the minute a new subscriber signs up, and the remaining ones would be sent each day over the next week. These constant reminders will increase the chances of them opening your first issue.

3. Send something at least once a month.

Have you ever received an e-mail and wondered, “Who is this person?”

You can expect the same response from your subscribers if you don’t communicate with them. At a minimum, send your e-newsletter once a month. This way, your subscribers will hear from you often enough that they do not forget you — but you aren’t becoming a nuisance by sending too many newsletters.

4. Connect with your audience.

Your e-newsletter is not about you — it’s about your subscribers, their interests, their questions and their problems. Make sure your content meets your target market’s needs and reinforces your position as their trusted mortgage adviser.

If your primary market is first-time homebuyers, for example, you may focus on content that has to do with preparing for homeownership and demystifying the process.

5. Encourage forwarding.

By encouraging your readers to share your e-newsletter with their friends, you will increase your readership and subscribers.

In the introductory paragraph, ask readers to share the e-mail. Be specific in your request, using verbiage such as, “Please share this e-mail with anyone you know who is considering buying their first home.” It’s much more effective than just “Please share this e-mail.”

6. Include teasers.

Mention the topic you’ll cover in your next issue. This can build anticipation.

7. Make your subject line sizzle.

Your subject line is one of the most-important parts of your e-newsletter — it’s the first thing your subscribers see. Don’t waste that valuable real estate with a generic subject line such as “California Mortgage Newsletter.” Rather, make sure it motivates your subscribers to open your e-mail.

Avoid misleading subject lines that have no connection to your e-newsletter’s content, however. Misleading subject lines are a surefire way to violate trust and annoy your prospects.

In a tight market, e-mail marketing may be one of the most-valuable tools in your marketing arsenal. If you follow these tips to increase your readership, your e-mail marketing campaign can lead to exclusive leads and more closings.

Join the Discussion:

Are you using newsletters to market your mortgage business?


JC Kiadii, Mortgage Internet Marketing Services . 770-469-7385. Are you reaching out to the 87% of new buyers who start their search online? Our team provides results-driven mortgage Internet marketing services. Visit our website and sign up for the More Closings email newsletter to receive the 4-week e-course on Building a Quality, Responsive List.

Smart Mortgage Marketing On a Budget

mortgage marketing on a budgetBecause of the current market, it is harder for mortgage brokers to find prospects and to get clients to closing. Further, challenging market conditions may tempt you to cut back on your marketing activities.

The worst mistake you can make in this environment is to stop marketing, however. The bottom line is this: The number of deals you close two to three months from now will depend on the marketing you do now.

Instead of stopping or delaying your marketing efforts, consider implementing some effective low-cost online activities that provide a proven return on investment (ROI).

Develop a Mortgage Marketing Plan

In today’s challenging market, it’s important to develop a clear strategy and method of delivery. Start by asking yourself the following questions:

  • What are my areas of expertise?
  • What is my target geographic area?
  • Who is my target market?
  • From whom should I seek referrals?
  • What benefits can I provide clients?
  • What do I do better than anyone else?
  • Where do I see my business in the next several years?

Having a good marketing plan helps make tough decisions easy. Let’s say, for example, you decide to enter the social-media space. With so many options available, choosing where to start can be a challenge in itself. If, however, you’ve identified your ideal clients — say, tech-savvy single moms between the ages of 30 and 45 — your choice becomes easier. From there, you can filter through Web sites, blogs and social networks that cater to that demographic and participate in their conversations.

Create a Mortgage Web Site

The news has been out for years: Most homebuyers use the Internet when selecting mortgage and real estate professionals to help with their purchase. If you’re not leveraging Internet marketing, you’re behind the times. Catch up by creating a Web site.

To make the most of your site, be sure to target it to the specific population you hope to serve. If you only work in one city, make sure to reference that city on most, if not all, of your Web pages. Also include a description of the demographic with which you specialize. Doing these things will improve the odds of your ideal prospects finding you via search engines.

Also, make sure your Web site will track leads and educate your prospects automatically. It can do this by sending automated e-mails to people who complete a simple contact-information form on the site.

Start a Lead Generating Blog

Blogs can be a great tool for connecting with mortgage prospects, who can read your posts at their leisure and learn more about you, your areas of expertise and how you conduct business. A well-written and authentic blog can go a long way toward persuading people to contact you when they’re ready to buy a home or refinance.

Many blog readers feel comfortable using the Internet for financial matters and decisionmaking. As such, your blog could put you in touch with market participants ready to take action. In addition, blogs are a proven, low-cost way to connect with the mainstream media. Most reporters receive news tips through Internet sources, including blogs.

Use Email Marketing to Stay Connected to Clients & Referral Sources

As social media grow in importance, don’t overlook e-mail marketing. Develop a contact list and keep it up-to-date. E-mail marketing remains a great way to receive referrals and repeat business from past clients. It’s also affordable and can lead to a strong ROI.

According to the Direct Marketing Association, e-mail’s ROI will remain stronger than other direct-marketing channels for years to come. The association reports e-mail’s ROI as $40.56 for every dollar spent in 2011.

Whatever marketing methods you employ, develop a means for measuring ROI. By measuring your ROI, you’ll learn what works for you and your business. You also can determine how much you’re willing to spend per prospect, application or closed loan and fine-tune your marketing strategy to meet those standards.

Explore Social Media

From LinkedIn to Pinterest, there are literally hundreds of social media channels you can use to market your mortgage business. Decide on 1 or 2 that are best suited to reach your prospects.

Join the Discussion

How do you effectively market your mortgage business?

 


JC Kiadii, Mortgage Internet Marketing Services . 770-469-7385. Are you reaching out to the 87% of new buyers who start their search online? Our team provides results-driven mortgage Internet marketing services. Visit our website and sign up for the More Closings email newsletter to receive the 4-week e-course on Building a Quality, Responsive List.

Photo Credit: 05com on flickr

What My Dry Cleaner Can Teach Mortgage Originators About Rate Shoppers

What My Dry Cleaner Can Teach Mortgage Originators About Rate Shoppers
JC Kadii, Mortgage Virtual Assistant™, close-more-loans.com

One of the most productive ways to learn effective closing techniques is to study your own purchasing behavior. When you make a decision to purchase something, ask yourself “Why am I doing this?” or “What made me decide to make this purchase?”

I recently asked myself “Why do I cheerfully drive 5 miles past at least 10 other dry cleaners and willingly pay 30% more for my dry cleaning?” Is there some sort of hypnosis going on? Are they planting subliminal messages in my brain?

A study of my dry cleaner’s behavior (and mine) led me to the following insights.

Your clients are purchasing a solution, not a price. I want clean, neat clothes. I want one crease in my pants, not two or three. I know I will get these things from this particular dry cleaner, so I cheerfully pay.

What solution is your client seeking? Do they want to move into their new home? Do they want to refinance so that they can lower their monthly payments? Are they trying to get away from their ARM?

Lowering your fees will not lower your clients’ expectations. The client has the same expectation whether you charge them nothing, reduce your origination fee by 50% or charge full price. Yes, I’ve used other dry cleaners (not because of the price, but because I didn’t want to drive the 5 miles). After one or two horrible experiences, I am back with the one that I know will do the job.

You have to charge appropriately in order to devote the time and resources it takes to solve your clients’ problems. Period. In order to lower their prices, other dry cleaners have to subcontract their work out to the lowest bidder. They are, essentially, a storefront. My dry cleaner does all of his work on site. This enables him to provide the quality and quick turnaround I expect.

Your clients are no dummies – they can calculate their return on investment. As I figure it, I have two options. Option 1: Pay 30% more now for clothes that I know will be clean, neat and ready when I need them. Option 2: Pay less now, plus 50-100% later if I need to get clothes re-cleaned. Even if the dry cleaner agrees to re-clean clothes for free, there is a cost associated. For one, I’ve wasted my valuable time going to pick up clothes twice.

An interesting way to guarantee customer loyalty — let them go. One of my clients uses this strategy to deal with prospects who tell her “I need a quote in 30 minutes” or “I’m talking to six mortgage companies so that they compete for my business.” She lets them know that she stands behind her estimates, and communicates the other advantages of doing business with her company. If they want to leave to price shop, she lets them go. Most of them come back, if not for that loan, then to refinance out of the horrible package they’ve received from another lender. Once they come back, wild horses won’t drive them from her. They never question her rates or fees again.

I once read a book where the author suggested taking this a step further — if a competitor is price cutting, send them business! Send them so much business they won’t be able to keep up. The more people they disappoint, the more they damage their reputation (an unsatisfied customer tells at least 8 people). Prospects who go to them will willingly come back to you and pay your fee. Frankly, I do not feel comfortable doing this, but it is an interesting suggestion.

When you know that you solve your clients’ problems, you have no need to quibble about your fees. My dry cleaner knows he’s good. He not only does a quality job, his employees provide great customer service because he pays enough to attract quality employees, and he invests in technology to make his business more productive.

Remember, your clients are searching for solutions. You are not doing yourself or them a favor when you discount your fees. If you do not provide the solution, they will leave, taking your good reputation with them. As long as you are solving your clients’ problems, you should be fairly compensated.

ABOUT THE AUTHOR


JC Kiadii, Helping Lending Professionals Generate Quality Leads in the Digital Age. 770-469-7385. Are you reaching out to the 87% of new buyers who start their search online? Our team provides results-driven mortgage Internet marketing services. Visit our website and sign up for the More Closings email newsletter to receive the 4-week e-course on Building a Quality, Responsive List.

Mortgage Marketing Tip: Removing Marketing Roadblocks.

In a previous post, I shared the #1 marketing mistake according to Jay Conrad Levinson, the "Father of Guerilla Marketing."  The mistake is this:  lack of Marketing Commitment.

So, what are the roadblocks to making the marketing commitment, and how do we remove them?

  1. We just don't wanna! This roadblock is usually caused by choosing marketing activities that are not authentic.  I know people who would cheerfully do the electric slide over hot coals to avoid making a 10-minute presentation.  I, on the other hand, love training and public speaking, and can make up talks on the fly.

    Solution – be authentic in your marketing medium and message. If you loathe public speaking, don't do it!  Assign it to someone else on your team.  There are dozens, if not hundreds of ways to market yourself so pick something you enjoy doing.

  2. We don't have the money.

    Solution – establish a comfortable marketing budget.  Successful companies spend an average of 10% on marketing.  When I start working with clients, I find out how much they can comfortably afford to spend on marketing over the next 6 months. That amount, no matter how small, becomes their marketing budget.

    There are so many low-cost, yet very effective ways to market your mortgage business, that there is something you can afford to do.  Some may take require more time, and some don't. 

    It takes, on average, 7 reminders to people who are interested in your services to get them to buy.

    Start where you are.  It is smarter to spend a little bit over time, and reinvest your proceeds into your marketing budget than spend everything you have on a one-time marketing blowout.

  3. We don't have the time.

    Solutions:  Outsource, and make time by scheduling your marketing activities in your calendar.

    Speaking of time, I've gotta run. 

Jackie, Mortgage Virtual Assistant

 

 

 

Tips for Organizing Your Mortgage Office

Tips for Organizing your Mortgage Office

 

While recently watching a commercial where a couple scampered through a home improvement superstore gathering as many “office organizing” supplies as they could carry, I was motivated to put together these simple, sensible tips for organizing your mortgage office.

Before you buy organizing supplies, get a tape measure.
Why? Because before you start buying filing cabinets, boxes, and the like, you need to know which items will fit in your space.

Cluttered desk? Here’s a foolproof system for clearing it up.
The only items that should be on your desk are the ones you use most often, or that you need to get your hands on quickly. In my case, for example, I decided that my stack of blank CDs do not need to be on my desk. A client was overwhelmed by the number of files she had in her desk drawers. She used this idea to remove all but those belonging to active clients, i.e., those she expects to close in the current month.

Use 3-ring binders to organize stacks of information.
They make your office look so neat and orderly. I have a binder for prospects, one for policies and procedures, one for each mortgage training program, and so forth and so on.

Don’t stuff your filing cabinets — make room for your mortgage business to grow. If part of your office organization includes rearranging your file cabinets, do yourself a favor and only fill them to half capacity.

Label everything.
Trust me, two months from now you will not remember which box contains your receipts and which one has old checks. Save your brainpower for the important tasks, and label your bookshelves, filing cabinets and boxes. If it’s labeled, it’s less likely to get lost.

Use color to help you quickly find items (but don’t go overboard).
One client, for example, uses one color label for her active loan files and another for her “almost dead” ones. Back in my processing days, I swiped a colored highlighter across the top of rolodex cards (pink for VOEs, yellow for VODs, etc.) so that I wouldn’t have to flip through each card to find my information.

Use bookshelf space wisely.
The books you use often should be easily accessible at eye or hand-level. Save the bottom shelf for the items you need to have in your office, but don’t use often.

Stay on top of things.
Don’t wait until January 1 to organize your office. Keep the clutter from getting out of hand by having a quarterly clean up.

Remember – clutter causes confusion. I hope you can use these tips to keep your space under control.



JC Kiadii, Helping Lending Professionals Generate Quality Leads in the Digital Age. 770-469-7385. Are you reaching out to the 87% of new buyers who start their search online? Our team provides results-driven mortgage Internet marketing services. Visit our website and sign up for the More Closings email newsletter to receive the 4-week e-course on Building a Quality, Responsive List.

Mortgage Email Marketing: Quick Ways to Build a High Quality Subscriber List

Mortgage Email Marketing: Quick Ways to Build a High Quality Subscriber List.

by JC Kadii, Mortgage Virtual Assistant

When originators contact me about providing mortgage email marketing services, one of the things I try to determine is how many people they have on their subscriber list.  I have found that many originators are reluctant to share this information because they feel as if their list is not large enough. 

The size of your email subscriber list is not as important as the quality.  I have seen some clients have very successful mortgage email marketing campaigns with lists of less than 100 subscribers.  One of my clients makes a point of staying in her office the day her mortgage email newsletter (ezine) goes out, because she can count on receiving calls.

I cannot stress this enough – you will get a higher return on your investment when you focus your efforts on quality, as opposed to quantity.  A quality list of ezine subscribers (a) are in or close to your target market, (b) know you who are, and (c) have given you permission to send them your mortgage email newsletter.

So how do you build a high quality list of subscribers to your mortgage ezine?  Here are a few suggestions.

Offer a bribe (okay, incentive) for subscribers.  Make sure that whatever incentive you offer is related to real estate financing or home ownership.  Offering iTunes gift cards, for example, may get you a ton of subscribers, but are these subscribers signing up to get your information, or free iTunes?

Create a sales page for your ezine.  The sole purpose of this page is to get people to sign up for your ezine, so make sure that you provide the information they will need to make the decision.  At a minimum explain:  how often you distribute your mortgage email newsletter, what benefits they can expect from receiving it, any flattering feedback you have received from subscribers, and your privacy policy.

Offer incentives to your staff.  If you own or manage an office, consider offering fun incentives to your staff for getting subscribers on the email list.

Add a link to your sig file.  After creating a client’s mortgage email newsletter, I send them a link they can add to their email signature block (or sigfile).  The clients who use the link tell me that it helps them grow their list.

Add a subscriber sign up box to every page of your website.  This is an easy, effortless way to capture web site leads. 

Position your mortgage ezine as a resource.  Offer valuable content in each issue of your mortgage ezine.  Once you have done this, it becomes easy to describe the ezine as a valuable resource.

Ask every lead (where appropriate) to subscribe to your mortgage email newsletter, even if they decide to take their business elsewhere.  There are several reasons for doing this: (1) since most originators are not using email marketing effectively, you will position yourself above the pack, (2) keeping this lead in your marketing funnel increases the chances they will be back, (3) the fact that this borrower went with another originator will not stop them from sharing your ezine with their contacts and referring you business.

Use these tips and strategies to grow your mortgage email marketing list.

By JC Kadii, Mortgage Virtual Assistant.  JC offers turnkey email marketing services to mortgage professionals to help them gather exclusive quality leads.  New email marketing clients receive the audio program “4 Keys to Profitable Mortgage Email Marketing” (a $67 value). For additional information, please visit MortgageEzines.com or call 770.469.7385.

Mortgage Productivity Tip – Storing Documents

Talk about a mixed blessing. With larger and larger hard drives, it is becoming even more difficult to keep track of where you have documents stored.

Here’s one simple way to keep track of your documents – synchronize your paper and computer files.

What does this mean? It’s probably best explained with an example. I have a binder for each mortgage virtual assistant client. My hard drive is organized the same way. So are my emails and bookmarks.

Having to remember only one filing system makes life a lot easier.

JC, Mortgage Virtual Assistant

The Cure for the Doldrums

The 100% Cure for the Doldrums

Whether you woke up on the wrong side of the bed, had too many calls from rate shoppers, or just have the blues, here’s the prescription that I’ve found works 100% of the time. Try it, and I guarantee your spirits will be uplifted — quickly.

Here’s the prescription:

Give what you seek (or lack) to someone else. Here are some examples.

Inundated with “rate shoppers” and “looky loos?” Give a highly qualified lead to someone else.

Not “feeling the love?” Call a loved one you haven’t spoken to in a while to say “You’ve been on my mind, and I was just wondering how you’re doing.”

Not getting enough referrals? Contact business owners you know, and ask them how you can identify great referrals for them.

Trust me, It works every single time.

I was reminded of this last Friday while watching Joel Osteen on the Joyce Meyer program. She asked him if he had any closing remarks for the audience, and he had two:

  • Remember this is the day the Lord has made, rejoice and be glad in it,

  • make someone else’s day.

So, when you’re feeling down and blue, try this prescription.

“Dr.” Jackie

Mortgage Email Marketing Tip: The Key to a Lead Generating Mortgage Email Marketing Strategy

JC Kadii
MortgageEzines.com

The first requirement for an effective, revenue-generating mortgage email newsletter (ezine) is a Targeted, Permission-Based Email List.

Define your ideal subscriber.

Hint: your ideal subscriber will be very similar to your ideal client. Find ways to attract your ideal subscriber to your ezine. Will you attract other types of people? Of course, and that’s good, but targeting a specific group of people will yield a higher return on your investment.

There are many definitions of a permission-based list. My definition of “permission-based” goes beyond the “technical” definition. What I mean by a permission-based list is that the people on your email list have either signed up for your ezine or asked you to add them to your email list. Your permission-based list may also include people who have asked you to send them information about your services.

Getting permission shortens your sales cycle. If someone makes the decision to sign up for your email newsletter, it means that they are interested in the information you have to offer.

Getting permission keeps your email out of the trash bin. If someone gives you permission to send emails, there is a higher likelihood that they will recognize your name and actually read your email.

Getting permission keeps helps you generate exclusive mortgage leads from your email marketing.

Getting permission makes your ezine forwardable. The goal I have for my turnkey mortgage email marketing clients is not just to create an ezine that gets read, but one that each subscriber shares with the 200 people in their sphere of influence. Having a permission-based email marketing list increases the likelihood of this happening.

Copyright © JC Kadii, MortgageEzines.com Feel free to reprint whole or part of this article, as long as you include the copyright reference and a clickable link to the MortgageEzines.com website.

Networking for Introverted Mortgage Professionals

Mortgage Marketing: Networking for Introverts
JC Kadii, Mortgage Virtual Assistant™, close-more-loans.com

Do you consider yourself shy, bashful, introverted? So do 80% of American adults. Successful networking is not the exclusive reserve of extroverts. In fact, because of their thoughtfulness and great listening abilities, introverts often are the best networkers.
The hardest part for introverts is to just get out there.

Here are some networking tips for introverted mortgage professionals.

Get rest.

Extroverts are energized by social interaction. Introverts, on the other hand, are energized by time spent alone. Network at your peak energy time, or make sure you get enough rest before attending an event.


Avoid back to back networking events.


Nix the numbers game.


Some networking experts advise people to set a goal to meet x number of people, or to meet a particular person. These types of goals can be very stressful for introverts. Instead, set a goal you know you can easily reach, like getting to the event on time.


Get a job.


If you belong to an association, the best place for you is at the registration table. Everyone has to come by the table. You get to talk to everyone, without having to walk up to people and introduce yourself.


Get there early.


It’s intimidating for most people to enter a room full of strangers. Get to the event early so that you can establish rapport with other early birds.


Make connections before the event.


If this is your first time visiting a particular networking group, call or email a key member ahead of time. Let them know you were thinking of attending, and ask one or two questions. That way, you’ll know at least one person when you step into the room.


If you’re not in the mood to network, please stay home.


Sometimes you’re tired, or just run down by many networking activities. If you aren’t playing an integral part in the event, do yourself a favor and stay home.


Introverts do not have to be left out of the networking mix.
Get some rest, set reasonable goals, and go meet people!

ABOUT THE AUTHOR
JC Kadii is a mortgage virtual assistant™. Through http://www.close-more-loans.com, she provides top-notch administrative, technology and marketing services to mortgage professionals to help them increase their production. For a complimentary copy of the http://www.close-more-loans.com report, 6 Steps to More Referrals, visit the site today.

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