There are many ways to market to the senior population. We have found that in the reverse mortgage industry, there are some marketing techniques that work better than others. The most important thing is consistency. Whether you hold a sign on the side of the road or send out 100,000 pieces of mail per month, whatever it is you are doing, do it consistently.
You have your budget, you know your market, and you have your plan. Now it's time to execute. Remember, be consistent and use the tools in Reverse Fortunes to get the greatest return on your hard work.
There is no doubt that Reverse Mortgage Prospects respond to direct mail. The top reverse mortgage companies in the nation depend, at least partially, on direct mail marketing to attract the senior population, and top producers know that using direct mail on a consistent basis yields success. Follow these direct mail best
practices to extend your client base:
An ongoing, effective direct mail program will, over time, proves to be a vital source of leads and clients. If executed properly, you should expect a quick return on investment. Leverage these direct mail best practices to stimulate sales and watch your business take off.
You may have received one yourself. Short articles, recipes and tidbits presented in a newspaper format addressed to you from one of your local businesses. Whether professional or home-grown in their layout, they do get you to do one thing: think about the business that sent it to you. Newsletters are still an effective and tested means of keeping in front of your clients. You will find that keeping in front of your clients is fun, profitable and a necessary part of your marketing plan as a reverse mortgage loan originator. We will show you just how easy it is using newsletters as a regular part of your marketing efforts.
Give them the information that reminds them that you are the expert in reverse mortgages
they can call for questions and refer their clients to.
A financial professional sits in the living room of his client he has not seen in the last year for their annual review. As he discusses their finances and changes in the last year they mention that they received a huge settlement for medical damages. The professional ask how they invested it. When told he finds he could have set up the same account and made a substantial commission. After some questioning, the clients said they did not know he too could have helped with this particular investment in addition to what he had already done! What a painful and expensive lesson on keeping in front of your existing clients.
When creating your first newsletter, resist the temptation to recreate the New York Times. Remember, you will be making this newsletter every month so keep it short. Also, your clients have limited time and attention for your newsletter. A suggested format is two full 8 1/2 x 11 pages folded. Short and sweet.
Present useful and relevant information for seniors and retirees, but don't use the newsletter as a full page "pitch" about reverse mortgages. You can cover news relating to reverse mortgages or changes in products and interest rates, but keep the bulk of the information light-hearted and informational in nature. Useful topics include:
How often do you want your existing clients thinking of you? Well, every day is not going to happen, but every month would be nice. This keeps a sense of connection between you as the loan officer and the borrower which is a great way to generate referrals and repeat business. Mail your newsletter at least 1 time every month.
Keep the writing style informal and to the point. Also be sure to brand your newsletter with your photo, name and phone number prominently displayed throughout. The phrase "compliments of" is recommended.
If you have a working email address, mail the newsletter by first class mail and also send by email. When sending an email attachment use the Adobe Acrobat *.pdf format. It is universally recognized, easy to open and relatively small in size.
Besides newsletters for clients, you can use newsletters as a tool of educating and reaching potential and existing strategic alliance partners. Again, keep the selling out of the equation, but rather serve them with useful information about reverse mortgages and aging. Short articles should end with "for more information call..." You want to build value in the eyes of the financial professional you are mailing to. Give them the information that reminds them that you are the expert in reverse mortgages they can call for questions and refer their clients to.
Newsletters for clients and strategic alliances are not extras but an integral part of your overall marketing efforts. The cost of producing and mailing these items is minor in comparison to the potential yield of quality leads and referrals generated. Happy selling!