Because of its many benefits, there is no legitimate reason why every mortgage professional shouldn't be using an e-mail newsletter as a marketing strategy. We all know that the money is in the list, and here are three reasons why creating and maintaining an e-mail newsletter can help you generate extra mortgage leads each month.
The first immediate reason why you should have an e-mail newsletter is the extremely low cost needed to deliver your marketing message. For example, how much would it cost to send your request for referrals to 1000 former customers via direct mail, as opposed to e-mail? The postage alone in the direct-mail method will cost you almost four hundred dollars, not to mention the expenses for letterhead, envelopes, ink, etc. Using the same numbers, if you did this each month, you would save $4680 in postage fees alone! The only real fees associated with e-mail newsletter marketing is the autoresponder service, which handles your list management and e-mail broadcasting. This runs about $20 a month.
The second reason why mortgage professionals should have an e-mail newsletter is because of the amount of time saved through automation. How long would it take you to prepare 1000 mail pieces? This includes printing, folding and stuffing them into the envelope, sealing the envelope, printing or writing the address on the envelope, applying the appropriate amount of postage, etc. It would take several hours to several days before those thousand mail pieces were ready to mail out. Now compare that to the time it takes to write and send an e-mail out to a thousand individuals. Think about the time you would save over the course of a year.
The third reason why e-mail newsletters are an effective form of marketing for loan officers is that it allows you to contact your customers more frequently. Because of the time and costs involved, connecting with your customers more than once a month using direct-mail is just not realistic. But some researchers believe that the ideal amount of marketing contact is once a week. So what can you do? You create and run an e-mail newsletter. It helps you create a stronger bond with your customers by allowing you the opportunity to contact them on a weekly basis.
If you are looking for an effective and low-cost way of keeping in contact with your former customers, there is no better way than by using an e-mail newsletter. The amount of time that is saved because of automation will allow you more time to focus on selling your loans, and your weekly contact will help solidify yourself in the minds of your customers.
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