Cold Calling Vs. Direct Mail Marketing
First of all, the telephone has been around a long time. People like a personal touch, and there is definitely something to be said for the telephone’s ability to connect people. However,mortgage cold calling like email soliciting (spam), is often regarded as intrusive, even for those who are in the market for what you are selling (in this case mortgages refinances).
With that in mind, mortgage cold calling is flawed. It takes a lot of cold calling to generate leads. Typically, you can expect maybe 10% of the cold calls made to result in a lead. And then you begin following up on those few leads in the hope of making a sale. The amount of time spent doing this is considerable; thus, the manpower and money spent can be less than appealing. In terms of ROI, this antiquated sales method is not the best choice.
Now, in terms of sheer lead follow-up, the phone can be a usable tool. But mortgage cold calling is simply inefficient, peruse’, whether for mortgages or any other business.
Another disadvantage to mortgage cold calling these days is the advent of the Do Not Call (DNC) list. Because so many consumers are on this list, your potential customer base is therefore more limited when it comes to mortgage cold calling.
To make matters worse, people are less trusting of cold calls than they are of mortgage direct mail programs. This credibility factor is essential in determining the success of your follow-up efforts.
mortgage direct mail marketing , on the other hand, has a lot of promise. What’s important is that you have the right lead list on your customer base. If you have a direct mail campaign with a list that is less than 24 hours old, or the right data list you can immediately follow up on those leads via mortgage direct mail programs. With this method, a mail campaigns can easily compete with the quickness of phone soliciting.
The advantage here is that people are more trusting of direct mail People find companies to be more credible, when they have spent the money on something legitimate like a%link%.
If you have a quality mortgage list based on trigger data, you can also customize mailings with a pitch more likely to entice each individual potential customer. They will be impressed to see that your offer is so immediately appealing and matches what they are looking for.
In order for %link% to be fully successful, it is not only recommended but possibly essential that you buy a quality list. Make sure that the company that provides the lists is trusted in the industry.
A mortgage data list has been compiled using trigger data about changes in the lives of those who are potentially in the market for a new mortgage or refinance. This can include their application for loan approval within the past 24 hours, for example.
When a quality mortgage list and direct mail marketing are used cooperatively, the results can be phenomenal. Because the data is newly updated on a %link% and quality mortgage list, you are reaching your potential customer by using mailing campaign them right in their exact time of need.
As a result, the responses you receive will be huge verses cold calling. While it is true that you could follow up on leads from a lead list via phone, you are dealing with the Do Not Call list as a stipulation to such a venture.
Clearly, direct mail advertising especially in conjunction with a trigger lead list is the way to go. Mortgage cold calling simply cannot compete.
Posted: April 26th, 2008 under Business.
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