Pros: Low Cost, High Visibility, Easy to Do it Yourself, Targeted
Cons: Limited Space, Crowded Channel
Low Cost
First of all, postcards are a low cost way to get your message in front of prospects. It is also an excellent and affordable way to get started in direct mail. First class postage for a standard sized postcard (4.25 x 6 inches) is $0.24 vs. $0.39 for standard first class mail. That's a savings of 38% on postage alone. An added benefit of mailing a first class postcard to your mortgage prospects is that it will be returned to sender if it has a bad address. This will allow you to keep your mailing list clean and up to date.
High Visibility
Postcards put your mortgage marketing message front and center in the cluttered mail pile. In most cases, when dealing with letters, the bulk of your message is contained within the actual envelope. Put another way, envelopes can create another barrier between you and your prospect. You are almost guaranteed that someone in the household will at least read the headline on your postcard.
Do it Yourself or Outsource
And, possibly the best reason for postcards, they are easy to create and send. A postcard doesn't need licked envelopes, folding, assembling, or letter stuffing. A postcard can be as simple as designing, printing, and stamping if you choose the do it yourself route.
If you want to go the do it yourself route, you can use an 8 in by 11in, 110lb cardstock and a laser printer. This can produce four cards per sheet by cutting the cardstock in quarters. Cardstock comes in virtually any color. For small mortgage shops and individual loan officers and mortgage brokers, the simple do it yourself postcard can be a great, low cost addition to your marketing mix.
For just a few cents more per card, there are many services that will even do that for you. All you need to do is create/approve the design and message and they will print and mail the postcards for you. There are tons of full service shops out there. Simple postcards work. You don't necessarily need a full color front / back glossy UV coated masterpiece to get a good response. Printing charges can add up quickly. If your card "upgrades" are costing 25% more than a basic card, might it make sense to send out 25% more cards?
Targeted
A great postcard is useless if you aren't sending it to a good list. One of the greatest benefits of direct mail is the ability to craft and send a message to a targeted list. Self generated lists typically outperform rented lists. If you are buying/renting a list, be sure to call a number of providers or brokers.
Limited Space
Once you've subtracted the space necessary for postage and the mailing address, space becomes a premium on a postcard. However, this one "con" does force you to make sure your message is tight and on target.
Crowded Channel
Despite the time and effort put into any direct mail piece, it will still be considered "junk mail" by the overwhelming majority of recipients. As such, many of your prospects will proceed to file your correspondence in the circular file with barely a glance. Additionally, the odds are good that you will be competing with a number of other financial officers in the same day's mail as well as numerous other non financial direct mail pieces.
Crafting the Message
Whichever route you choose, you will still need to create or at the very least approve the message and design of your card. Don't be afraid to keep it brief. Give your prospects just information to take the next step and contact you. You are not trying to close the transaction with the postcard, you are simply to motivate the prospect to take an action that will convert them from prospect to a lead.
Your headline is key as that is what will grab your prospect's attention. A good headline is arguably the most important part of your entire postcard. Use the valuable space on your postcard to give the reader an irresistible urge to take the next step. Make the website or phone number you are directing them to as clear and as big as possible.
Overall, marketing by postcards can be a relatively low cost method to reach a large number of targeted prospects.
Mortgage Marketing Post Card
Here's what you need to do...Promise yourself that you'll spend 30 uninterrupted minutes each day working on the marketing part of your mortgage business. Set aside a 30 minute block of time. Turn off your cell phone. Checking your email and surfing the Internet is not allowed. Answering the phone is not allowed. Out bound calls are allowed. Use a timer or alarm because clock watching is not allowed either.
The next 30 minutes are your marketing minutes, so make the most of this time. Here are but a few suggestions on how to spend those precious 30 minutes:
1. Update your database information,
2. Critique and improve your web page,
3. Write a few "Thank You" notes or cards,
4. Write a mortgage article for your website,
5. Review and improve your advertising copy,
6. Create a new direct mail piece or marketing flier,
7. Write and send your press release to a media outlet,
8. Schedule a lunch or two with your mortgage contacts,
9. Write a mortgage "white paper" to be used as a give away,
10. Set up appointments with mortgage prospects or customers,
11. Organize a drip marketing system using postcards for your niche,
12. Touch base with the Realtor/Agents that you exchange leads with,
13. Edit your marketing material such as your fliers or tri-fold brochure,
14. Review and evaluate the results of the niche you are promoting and marketing,
15. Study and determine the results you're receiving from your mortgage advertising.
If you're on a roll with your 30 minutes, by all means take advantage of the situation, and carry on a while longer. There's nothing magic about the 30 minute mark. You can make it 20 minutes or 45 minutes. Just make the commitment and focus on the task you have chosen.
Schedule your 30 minute marketing period every day and over time, you'll see some pretty significant results. Incidentally, this little technique works for other chores you've been putting off.
You'll notice in all of this, there's nothing mentioned about reading your FHA manual, or the marketing book you just purchased, or the self improvement book that's been sitting on your book shelf the last year or so.
Yes, I'm very much a believer in continuing education and self improvement. There's no doubt you need to allocate time every day to do these things too. But, this 30 minute block of time we are scheduling is your "marketing time" and has a direct bearing on your loan originations, your pipeline and your bank account. Start this little program today, your mortgage marketing success depends on it.
Both Joe Ramirez & Tom Domin are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Joe Ramirez has sinced written about articles on various topics from Mortgage, Home Buyers Guide and Finances. Joe Ramirez is a mortgage professional and the editor of . Visit MortgageMarketingIdeas.com today and sign up MMI's. Joe Ramirez's top article generates over 3600 views. to your Favourites.
Tom Domin has sinced written about articles on various topics from Finances, Sales and Negotiation and Prospects. Tom Domin is the author of "101 Ways to Originate Mortgages" and publisher of "Tom's Mortgage Tips" a twice monthly Mortgage Newsletter geared for Mortgage Professionals. Increase your pipeline and put your mortgage career on the fast track and sign-up fo. Tom Domin's top article generates over 74000 views. to your Favourites.
