In today's digital world, where more and more people have access to the Internet, email communication is quickly becoming the norm. The number of emails sent per day has increased sharply since 2017, sPoliticianAn estimated 320 billion emails will be sent every day by 2021, and that number is expected to grow to more than 376 billion by 2025. Based on these numbers, as a loan officer, it is critical to incorporate email marketing for mortgage loans in your overall marketing strategy. Here we look at mortgage email marketing, how it can benefit your bottom line, and some tips for creating a successful marketing campaign.
the most important point
- Mortgage email marketing is how loan officers and mortgage brokers communicate with their target audience, current buyers and real estate partners.
- The benefits of mortgage email marketing include higher ROI, direct interaction with contacts, ability to track results, increased reach, custom content creation and constant customer focus.
- Types of mortgage emails include newsletters, application emails, application updates, community news, industry news, event invitations, holiday emails and mortgage tips.
- 10 tips for creating an effective mortgage email marketing campaign include maintaining a current contact database, understanding your campaign goals, creating a strong subject line, always including a strong call to action, short messages, eliminating industry jargon, mobile-friendly, count on time and track your success.
What is Mortgage Email Marketing?
Mortgage email marketing is a digital marketing strategy that gives loan officers and mortgage brokers a way to build relationships with their target audience, current clients and real estate referral partners. Email marketing can include a variety of options that allow loan officers to educate potential borrowers, provide updates on the current mortgage loan process, and help you get in front of potential borrowers on a regular basis. Staying engaged with your customers helps maintain relationships and earn repeat and referral business.
The Benefits of Email Marketing With Mortgage Loans
When done right, email marketing can be a powerful tool to help grow your business. An effective email marketing strategy can bring a multitude of benefits, which we explore here.
1. Enable higher ROI
When developing a marketing strategy, your goal is to find the strategy that provides the best return on investment or the highest return on investment.ExperianAccording to the report, email marketing has an average ROI of between $5 and $51 for every $1 spent. Implementing an email marketing strategy can allow you to keep your marketing costs within budget while generating great returns.
2. To enable you to interact with your contacts
Unlike other marketing strategies, such as social media engagement, email marketing allows you to directly message your contacts, allowing them to directly interact with you within a defined time period. While you may think that many potential customers simply drop your email campaigns without opening them, the truth is that email campaigns can have open rates of up to 40%, allowing you to reach contacts directly.
3. Allows you to track results
One of the biggest advantages of email marketing is the ability to track its effectiveness, especially when you use a quality CRM. From the moment you send your email marketing campaign, you can see how many emails were sent and opened, which links in the emails were clicked, and even if the emails were forwarded to other potential customers. This feature allows you to customize components of your email marketing campaigns to increase open and click-through rates.
4. Expand your overall impact potential
While your current list of prospects and contacts may limit the scope of your direct email marketing potential, the truth is that email marketing makes it easier for your contacts to forward the email to their contacts (if they think it might be useful). This opens up an opportunity to further expand the overall reach.
5. Create customized and personalized content
By incorporating contact data into your email marketing campaigns, you can create tailored content that helps you connect with your contacts, build trust, and further help foster beneficial relationships that help your prospects move through the sales funnel. Email marketing allows you to personalize every aspect of your marketing campaigns, such as personalized copy, images, targeted offers, testimonials and more.
6. Always pay attention to customers
As a loan officer, the goal of any marketing campaign is to help you build relationships with potential clients. Email marketing offers an easy-to-use and affordable marketing option that allows you to regularly build and nurture your connections and keep you and your business top of mind with your customers.
Types of Emails for Mortgage Loans
When it comes to mortgage email marketing campaigns, the possibilities are endless. You are not bound by traditional marketing concepts and marketing platforms, and the type and content of each email campaign can vary greatly. Here we take a look at some of the best email campaign ideas for loan officers and the mortgage industry.
By sharing newsletters at regular intervals (for example, every two weeks or monthly), you can inform and educate customers about changes in the mortgage industry, as well as within your business. Creating a consistent newsletter sending schedule lets your customers know they can expect an ongoing relationship with you and your company.
A check-in email is a way to follow up with clients and contacts you may not have spoken to in a while. The purpose of this type of email is to let your customer know that you are thinking of them and that you want to reach out to them and find out how you can help them reach their mortgage goals.
Marketing automation allows you to send emails throughout the application and loan process, which is a great way to keep home buyers updated and in regular contact throughout the mortgage process. With automation, emails can be automatically sent to users when certain process milestones are reached.
In the mortgage industry, community is an important factor. Whether you're sharing new home developments in your community, new business openings, or community events you're involved in, regular newsletters keep you in touch with your contacts while showing them the community is important to you and .
The ever-changing mortgage industry can often put a strain on both borrowers and homebuyers. Creating a mortgage industry news email campaign allows you to inform your current and potential clients, as well as referred real estate agents, of potential changes while highlighting your industry knowledge and expertise.
Event invitation emails can be used in a variety of situations. For example, you could host an open house, teach a credit repair class, or attend a community event with a recommended realtor.
The holidays are a great time to connect with potential, current and past contacts. Simply sending them a holiday email wishing them all the best for the holidays shows that they are important to you and your company and goes the extra mile in building or maintaining a positive relationship.
A drip campaign of pledges
Regular mortgage drip campaigns create a steady stream of regular marketing content for your business. Crafting emails that focus on a specific topic (such as credit repair) can provide current and potential customers with important information and drive engagement.
10 Tips for an Effective Home Loan Email Marketing Campaign
Once you understand how mortgage email marketing can benefit your business, it's important to understand how to create an effective marketing campaign. The following tips can help you create a series of marketing campaigns that will work for you.
- To maintain a current contact database:If your target audience never receives a high-quality email, it's not working. Make sure you have up-to-date emails for all your prospects and customers.
- Know your campaign goals:When creating an email marketing campaign, it's important to understand exactly what you want to achieve with the campaign.
- Create a strong item:The subject line is the first thing readers see in an email, so you need to make sure you create a subject line that appeals to them and encourages engagement. The subject line should have 65 characters so that the entire text is readable.
- Always include a strong CTA:Once you know the goal of your email marketing campaign, be sure to include a strong call to action that includes that goal.
- Don't believe the pictures:Many email programs do not automatically display images by default, which means that many readers may not see the images you want.
- Keep your message short and sweet:Time is money, and many leads and prospects don't have time to send long emails. Keep your content short and to the point.
- Eliminate industry jargon:When creating email content, avoid industry jargon and acronyms that can confuse the average borrower. Focus on basic communication and contact with contacts.
- Make it mobile friendly:Many readers access email on mobile devices, so it's important to keep content optimized for mobile viewing.
- Consider the weather:When you send an email is as important as what it contains. For example, an email sent on a Monday morning or Friday afternoon is less likely to be read than an email sent during the week. Consider your target audience and determine the best time to book your email campaign.
- Track your success:The most important step in an email marketing campaign is following up. For example, by checking open and click rates, you can learn what's working and what's not and adjust your future marketing campaigns based on that information.
Get the most out of your email marketing
If done right, email marketing can quickly become one of your most effective marketing tools. With the various email options available to you, you can better connect and communicate with potential clients. Following these basic tips will help you create email marketing campaigns that can help you build strong relationships that will increase your bottom line.
Attract more leads with us
A steady flow of new leads and contacts is key to getting the most out of your email marketing campaigns. At Good Vibe Squad, we understand that mortgage lenders need quality lead generation, and our Unfair Advantage™ program helps you generate the leads you need to reach your goals. To learn more about how our program can help,Plan to call the policeToday.
McBeely is an award-winning marketing expert and business strategist. It helps lenders use online marketing and social media to grow their business and create lasting generational wealth for clients and their families.
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