(go to previous page) (go to beginning)
Improved data-delivery tools
Until the past several years, the only way to access a large amount of data was through an enormous, onsite database. If you could not afford one, you had to take what you could get. The current advancement of Web-based technology gives brokers the capacity to access information about thousands, even millions, of consumers within minutes.
The adoption of data-delivery technology by large financial-services organizations and wholesalers has also begun to pay off, with these tools being delivered to brokers' front doors. While the packaging and delivery of these tools to brokers has only just begun, all parties will feel a positive financial impact in 2006.
Convenient campaign-management tools
Brokers do not get into the mortgage business to design, order and print direct-marketing pieces. In terms of making marketing channels more personal, some brokers are well out of their league. Recent tools can completely automate the direct-marketing process and allow brokers to run programs from their own computers. Brokers can choose from numerous offers and creative templates, import information and with the click of a button, send an entire campaign to a mail-house for fulfillment.
Impressive analytical tools
A thorough look at what did and did not work in a marketing campaign can prevent the same mistake from happening twice. That saves money. Just being able to track inbound phone calls can help brokers determine what part of their campaign is working.
In addition, tools are now available that allow brokers to look at response rates based on certain data. If certain people with a common characteristic are more likely to respond to a mailer, these analytical tools can help you identify that. If people who share the same characteristic do not respond, that characteristic can be removed from the data set, thus eliminating wasted printing and postage costs in the future.
The upcoming year likely will present a challenge for many mortgage brokers. With competition increasing for mortgage loans and the days of a positive interest-rate refi environment behind us, a premium will be placed on maximizing marketing dollars.
Reaching consumers who need and want brokers' products will require a more disciplined approach. Direct marketing can deliver it. The key determinant of success, however, is how well-received and well-implemented these ideas and tools are.
With most economic experts predicting a slowdown in the real estate market by the end of 2006, it will become even more essential that brokers shift toward more-efficient, effective direct-marketing campaigns.
Richard Scolio is president of MarketerNET, which provides the mortgage industry with end-to-end marketing solutions. MarketerNET provides its clients with more than 1,100 credit, demographic and homeowner data points and assists in campaign execution and analysis. MarketerNET provides its solutions to many of the nation's top prime and nonprime lenders through its Intelidata platform, which allows users secure online access. Reach Scolio at (312) 229-5800 or email@example.com. For more information, visit www.marketernet.com.
Page: 1 2 3 Previous