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There are two reasons for this. First, you want your letters to arrive when the mail volume is light, so the best days would be Monday and Tuesday. In addition, you want to make your phone ring when you want it to ring.
If you mail your letters on Saturday, you likely will get most of your calls on Monday and Tuesday. This allows you to take your applications and pull credit reports, so that you can make callbacks by Wednesday to schedule appointments for Thursday and Friday.
Regardless of your budget, you can get great results with the right list and the right direct-response mailer. Your budget will dictate how many letters you can send out and how often.
Highly targeted campaigns will bring good profits that will let you increase your budget to send more letters. You can snowball it into a huge campaign over time.
No other media let you target specific clients cheaply and effectively while you control how much you want to spend each week and when the flow of calls will come into your office.
Finally, you want your direct-response mail to be trackable. The problem with a lot of advertising is that ads are not tracked to see if they work. The beauty of direct-response mail is that you can segment lists and use reference codes to tell you exactly which letter prompted your potential borrowers to call you.
Consider this: If you mailed 1,000 letters every week for a month to the same 1,000 people but didn't include a reference code, you'd never know which letter made them call you. It could have been the first one that they set aside for two weeks, or you could have sent them three previous letters and, although they were interested, they didn't act until the fourth letter arrived. How would you ever know it worked or how far down the marketing funnel you can go and still be profitable?
Direct-response marketing, therefore, can show you the path to an easier and highly profitable life in the mortgage business.
Chris Monge is the president of Monge Mortgage Publications and the CEO of Apex Financial Corp. in Madison, Wis.
Monge identifies as an expert in direct-response marketing and began selling his direct-mail system in 2006 to other mortgage brokers and loan officers around the country. The system includes numerous proven direct-response-mail pieces and more. For more information, visit www.crackedthecode.info or e-mail Monge at email@example.com.
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