Friday, November 16, 2007
How To Set Up A Totally Free Direct Mail Program For Your Mortgage Business
How to Set Up a Totally Free Direct Mail Program for Your Mortgage Business
Glad to see that this article caught your attention. You're going to love this amazing little direct mail mortgage marketing strategy.
This super simple idea will actually allow you to mail 500 or 1,000 or 10,000 or even more...postcards and/or fliers each week for free...all of this without you having to pay one single cent for postage. In fact, this idea is so profitable, that a number of mortgage professionals notified me that they replicated the idea multiple times and created their own lucrative direct mail companies outside of their mortgage businesses. Now that's powerful!
Forgive me for jumping ahead here. Let's start back at the very beginning and explore the details of this idea.
The most expensive part of a direct mail campaign is your postage. For that reason alone, you may not currently be using direct mail in your mortgage business. Your next most expensive item will be your list. The postcard might cost you a few cents apiece to print depending on your quantity. So that's almost nothing.
What all of this boils down to is that it's pretty tough to get a mailing out these days for less than 55 cents each or maybe 65 cents apiece. So that makes direct mail pretty darn pricey. So here's what you do to avoid paying postage, list rental, printing, and even make a profit using this idea.
First, you find out how many people live in your marketing area. What you want is the number of residences in your area. The post office will show you how to do a "Dear Resident" mailing. The post office will deliver your "Dear Resident" postcard very cheap if you are trying to hit every household in a certain zip code or set of zip codes.
If you'd like to personalize the carrier envelope, just look under the Yellow Pages under the category labeled "Mailing Lists," and you'll find a list of local companies that can help you. However, personalization is not a requirement. In fact, most loan officers that use direct mail address their offers to "Dear Resident." You'll also find this reduces costs substantially.
Second, let's say you find out that there are some 12,275 residences in the targeted area you want to reach. What you now do is approach other businesses that would also be interested in reaching these same people with a postcard advertisement. Ask these businesses if they would like to spend, say, 20 or 25 cents instead of 55 or 65 cents to reach a potential customer in their target market.
As a reminder, only approach businesses with this idea that are not competing with you and your mortgage business. There are tons of businesses willing to participate and a good letter promoting the concept will keep your waiting list constantly filled.
All of this sounds pretty simple, doesn't it?
Well, it is. In fact, the odds are good you already receive a mailing like this. There are a number of companies out there that will provide this service for you at a cost. They are called "card deck mailings." Just type "card deck mailing" into Google, and you'll see all kinds of companies come up in the listing that will do your card deck mailing for you. Better yet, when you receive your next mailing...call and check out their pricing. Your card will be ganged in with all the other merchants.
But here's the simple truth. You can save a lot of money my doing these mailings yourself. They are really very easy to do. There is something to be said for that old adage "If you want it done right, do you it yourself." You'll have total control of the process. And especially total control of who is getting your mailing. Very often, the "card deck" mailing companies hit to big a geographical area and include too many folks outside your marketing area. So, do it yourself so you can be certain you're only paying to reach those people you want to reach.
Also, you can gang together more than just postcards in an envelope. You can also gang fliers, letters and other advertising materials. Although I have seen some "card deck" mailings arrive in clear shrink wrap, plain old envelopes work just great.
But whether you do it yourself, or use a company that specializes in card deck mailings, this is a very cost effective way to advertise your business in your local marketing area.
But there is one key you need to be mindful of to make this kind of a mailing work for you. You need to make sure your mortgage message stands out from the other messages in your mailing package. Again, don't offer this opportunity to your competitors...only to those businesses that want to reach the same people in your marketing area.
Here's a great opportunity to actually make money in two businesses.
You'll make money in your mortgage business by promoting your company via your mailing...that is, with your own postcard or flier. And, you can make lots of money selling your direct mail program to your co-op mailing partners. Just mark-up the cost. A 15% mark-up or so to compensate you for your work and initiative is certainly reasonable, and you'll still be under pricing the big national "card deck" mailing services. When you get all your prices together, you may find that you can demand an even larger mark-up.
Start mailing your co-op mailings once a month, and then increase the frequency as you get your systems and procedures in place. I'm sure you can see that there is some great money to be made doing this. If you've got some guts and ambition, you can work this system to a point where you are mailing countless card decks and other co-op mailings per week with very little if any cash outlay. Your co-op mailing partners are funding the entire process and even paying in advance for the privilege of working with you.
I'll let you do the math here on what you could make with this idea if you just mark-up the cost a minimum of 15% to your co-op mailing partners. You may need to consider a part-time assistant early on to make this work for you. Of course, nothing will work if you don't work the plan. To get this system up and running will take a little initiative and some oomph on your part.
At the very least, use this little trick to conduct direct mail marketing campaigns for your mortgage business at no cost to you. It's not at all hard to find six or eight or ten or more businesses that will be more than happy to sign-up for the program and participate with you.
This is a great idea...drop me an email or give me a call...I would love to hear of your success with this program.
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. Put your mortgage career on the fast track and sign-up for FREE at http://www.MortgageMarketingToolKit.com/ Exclusive Mortgage Leads
Exclusive Mortgage Leads
Exclusive Mortgage Leads
Voice Broadcasting
Live Mortgage Leads
Live Mortgage Lead Transfers
Live Mortgage Leads
Mortgage Leads
Mortgage Leads
Mortgage Lead Programs
Glad to see that this article caught your attention. You're going to love this amazing little direct mail mortgage marketing strategy.
This super simple idea will actually allow you to mail 500 or 1,000 or 10,000 or even more...postcards and/or fliers each week for free...all of this without you having to pay one single cent for postage. In fact, this idea is so profitable, that a number of mortgage professionals notified me that they replicated the idea multiple times and created their own lucrative direct mail companies outside of their mortgage businesses. Now that's powerful!
Forgive me for jumping ahead here. Let's start back at the very beginning and explore the details of this idea.
The most expensive part of a direct mail campaign is your postage. For that reason alone, you may not currently be using direct mail in your mortgage business. Your next most expensive item will be your list. The postcard might cost you a few cents apiece to print depending on your quantity. So that's almost nothing.
What all of this boils down to is that it's pretty tough to get a mailing out these days for less than 55 cents each or maybe 65 cents apiece. So that makes direct mail pretty darn pricey. So here's what you do to avoid paying postage, list rental, printing, and even make a profit using this idea.
First, you find out how many people live in your marketing area. What you want is the number of residences in your area. The post office will show you how to do a "Dear Resident" mailing. The post office will deliver your "Dear Resident" postcard very cheap if you are trying to hit every household in a certain zip code or set of zip codes.
If you'd like to personalize the carrier envelope, just look under the Yellow Pages under the category labeled "Mailing Lists," and you'll find a list of local companies that can help you. However, personalization is not a requirement. In fact, most loan officers that use direct mail address their offers to "Dear Resident." You'll also find this reduces costs substantially.
Second, let's say you find out that there are some 12,275 residences in the targeted area you want to reach. What you now do is approach other businesses that would also be interested in reaching these same people with a postcard advertisement. Ask these businesses if they would like to spend, say, 20 or 25 cents instead of 55 or 65 cents to reach a potential customer in their target market.
As a reminder, only approach businesses with this idea that are not competing with you and your mortgage business. There are tons of businesses willing to participate and a good letter promoting the concept will keep your waiting list constantly filled.
All of this sounds pretty simple, doesn't it?
Well, it is. In fact, the odds are good you already receive a mailing like this. There are a number of companies out there that will provide this service for you at a cost. They are called "card deck mailings." Just type "card deck mailing" into Google, and you'll see all kinds of companies come up in the listing that will do your card deck mailing for you. Better yet, when you receive your next mailing...call and check out their pricing. Your card will be ganged in with all the other merchants.
But here's the simple truth. You can save a lot of money my doing these mailings yourself. They are really very easy to do. There is something to be said for that old adage "If you want it done right, do you it yourself." You'll have total control of the process. And especially total control of who is getting your mailing. Very often, the "card deck" mailing companies hit to big a geographical area and include too many folks outside your marketing area. So, do it yourself so you can be certain you're only paying to reach those people you want to reach.
Also, you can gang together more than just postcards in an envelope. You can also gang fliers, letters and other advertising materials. Although I have seen some "card deck" mailings arrive in clear shrink wrap, plain old envelopes work just great.
But whether you do it yourself, or use a company that specializes in card deck mailings, this is a very cost effective way to advertise your business in your local marketing area.
But there is one key you need to be mindful of to make this kind of a mailing work for you. You need to make sure your mortgage message stands out from the other messages in your mailing package. Again, don't offer this opportunity to your competitors...only to those businesses that want to reach the same people in your marketing area.
Here's a great opportunity to actually make money in two businesses.
You'll make money in your mortgage business by promoting your company via your mailing...that is, with your own postcard or flier. And, you can make lots of money selling your direct mail program to your co-op mailing partners. Just mark-up the cost. A 15% mark-up or so to compensate you for your work and initiative is certainly reasonable, and you'll still be under pricing the big national "card deck" mailing services. When you get all your prices together, you may find that you can demand an even larger mark-up.
Start mailing your co-op mailings once a month, and then increase the frequency as you get your systems and procedures in place. I'm sure you can see that there is some great money to be made doing this. If you've got some guts and ambition, you can work this system to a point where you are mailing countless card decks and other co-op mailings per week with very little if any cash outlay. Your co-op mailing partners are funding the entire process and even paying in advance for the privilege of working with you.
I'll let you do the math here on what you could make with this idea if you just mark-up the cost a minimum of 15% to your co-op mailing partners. You may need to consider a part-time assistant early on to make this work for you. Of course, nothing will work if you don't work the plan. To get this system up and running will take a little initiative and some oomph on your part.
At the very least, use this little trick to conduct direct mail marketing campaigns for your mortgage business at no cost to you. It's not at all hard to find six or eight or ten or more businesses that will be more than happy to sign-up for the program and participate with you.
This is a great idea...drop me an email or give me a call...I would love to hear of your success with this program.
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. Put your mortgage career on the fast track and sign-up for FREE at http://www.MortgageMarketingToolKit.com/ Exclusive Mortgage Leads
Exclusive Mortgage Leads
Exclusive Mortgage Leads
Voice Broadcasting
Live Mortgage Leads
Live Mortgage Lead Transfers
Live Mortgage Leads
Mortgage Leads
Mortgage Leads
Mortgage Lead Programs
Seven Reasons To Consider Working At a Small CPA Firm
Let me start by admitting that if youre an accountant in training, you should definitely consider working for a large firm. Two or three (or more) years working for a large international or national firm give your resume an extra burnish. You will probably receive a higher salary and more training. Plus, your stint at a large firm can be another personal pedigreeequivalent to a degree from a well-known top-tier university.
In spite of the big advantages that the big firms offer, however, let me suggest that you should also consider working at a small local firm. And I count at least seven, super-compelling reasons.
Reason #1: Close to Home Work Location
Many small firms locate in suburban areas. Which means that rather than commuting into some central business district during rush hour, you may only be traveling a few miles in light traffic to get a small firm office.
If you like the hustle and bustle of the city, sure, you may want an urban practice location. And maybe youve considered the hours youll spend trapped in traffic or riding the bus and the time isnt significant. For many of us, however, the time and money cost of a long commute represents a big liability.
Reason #2: Less Overtime
The Texas Society of Certified Public Accountants annually publishes a survey that tallies a bunch of interesting statistics on accounting firms. One of the things that survey shows is people work more overtime at the larger firms. (By the way, be sure to look at this survey if you can get a copy from a professor or at the library. The survey provides tons of useful information.)
But back to the subject of overtime. Dont fool yourself. Working sixty hours a week through tax or audit season burns you out. Do you really want to sign up for that grind?
Tangential aside: At small firms, you may work a bit of overtime during tax season, but youll also often find that during the off-season, the workload lightens considerably. Often, people may not even work a full, forty-hour week.
Reason #3: Minimal Business Travel or No Business Travel
Small firms almost always serve local business clientswhich means you probably wont have much or any business travel. And you certainly shouldnt find yourself assigned to some other out-of-state location for weeks or months.
No kidding: I left Arthur Andersen twenty-five years ago when the office managing partner told me that I was being reassigned from Seattle to Chicago for a two-year-long firm project. It sure didnt seem like that was a good choice for my marriage
Nothing quite saps the fun of work if after spending the week working long hours, you spend the weekend in airport security lines, on overcrowded flights, and doing your laundry.
Reason #4: More Family Friendly Environment
OK, reason #4 is sort of a combination of reasons #1, #2 and #3, but think about the sort of firm where the partners have said, Hey, we want to work close to homedont want to work a bunch of overtime and sure as heck dont want to travel a bunch
Are you really surprised that such a small firm environment is more family friendly? If in all the obvious, big ways the firm has constructed a family friendly work environment you can be pretty certain that the firm will also be family friendly in a bunch of small ways, too.
A small firm will more easily allow you to pick up a sick kid from school or schedule time off to coach little league. I guarantee it.
Reason #5: More Client Contact
Large firms operate with a leveraged structure, which typically means that staff accountants and senior accountants work for managers, managers work for partners, and then partners hobnob and schmooze and sell to clients.
The good part of leverage? Leverage makes it possible to serve large clients and work on large projects. And thats cool.
The bad part of leverage? The structure also means that most of the professionals in firm have little or no client contact. In fact, in many large firms, accountants may have to wait years before they actually sit down with a client. And thats tragic. Client contact makes the work more fun. And client contact provides context for the work.
In comparison, in a small firm, an accountant may have client contact as soon as he or she acquires professional competency. If youre mature and technically competent, in fact, a small firm setting may mean that you have client contact a few days or weeks after starting work. Seriously.
Reason #6: Services Provided to Decision-makers
Another subtle yet significant difference between a small firm and a large firm concerns who the CPA works with. In a small firm serving small clients, the CPA very likely works directly for and with the owner. In a large firm serving large clients, the CPA very likely works with mid-level managers.
Thats also too bad. The entrepreneurial owner of, say, a $2M, $5M or $20M business will almost surely be a very intriguing person.
Not to pick on accountants, but lets face it. That entrepreneur will probably be way more entertaining than, well, the manager of the accounts payable department or the divisional controller of some huge distribution company.
Close contact with the decision maker will also mean that youre often working on strategic and important tactical problems and opportunities. Thats not going to be true if youre working with, as I say, an accounting manager several layers deep in the organizational chart. Sorry.
Reason #7: Realistic Chance of Partnership
And one final reason to consider a small firm: A small firm should provide a more realistic opportunity for sharing in the firms ownership. In fact, if youve got good technical skills and good people skills, you are a shoo-in. Absolutely.
Lets face it: Large firms, by design, rely on pyramidal staffing. The firm cant promote every qualified candidate to the next level of the organization. Each partner keeps three or five or ten other people busy and billable.
In comparison, a small firm using a flat organizational structure could, theoretically, promote everyone to partner. A partner only needs to keep him or herself busy.
Whats more, inevitably, a small accounting firms owners will want to sell out at retirement. And that means that the firms staff should automatically have an opportunity to buy into or acquire the practice.
Bellevue Redmond WA accountant Stephen L. Nelson CPA operates a small Seattle-area accounting firm. Nelson is also the author of QuickBooks for Dummies and the Do-It-Yourself LLC Formation Kits. Contact him at http://www.stephenlnelson.com.Exclusive Mortgage Leads
Live Mortgage Lead Transfers
Live Mortgage Leads
Exclusive Mortgage Leads
Mortgage Leads
Voice Broadcasting
Voice Broadcasting
Mortgage Leads
Mortgage Leads
In spite of the big advantages that the big firms offer, however, let me suggest that you should also consider working at a small local firm. And I count at least seven, super-compelling reasons.
Reason #1: Close to Home Work Location
Many small firms locate in suburban areas. Which means that rather than commuting into some central business district during rush hour, you may only be traveling a few miles in light traffic to get a small firm office.
If you like the hustle and bustle of the city, sure, you may want an urban practice location. And maybe youve considered the hours youll spend trapped in traffic or riding the bus and the time isnt significant. For many of us, however, the time and money cost of a long commute represents a big liability.
Reason #2: Less Overtime
The Texas Society of Certified Public Accountants annually publishes a survey that tallies a bunch of interesting statistics on accounting firms. One of the things that survey shows is people work more overtime at the larger firms. (By the way, be sure to look at this survey if you can get a copy from a professor or at the library. The survey provides tons of useful information.)
But back to the subject of overtime. Dont fool yourself. Working sixty hours a week through tax or audit season burns you out. Do you really want to sign up for that grind?
Tangential aside: At small firms, you may work a bit of overtime during tax season, but youll also often find that during the off-season, the workload lightens considerably. Often, people may not even work a full, forty-hour week.
Reason #3: Minimal Business Travel or No Business Travel
Small firms almost always serve local business clientswhich means you probably wont have much or any business travel. And you certainly shouldnt find yourself assigned to some other out-of-state location for weeks or months.
No kidding: I left Arthur Andersen twenty-five years ago when the office managing partner told me that I was being reassigned from Seattle to Chicago for a two-year-long firm project. It sure didnt seem like that was a good choice for my marriage
Nothing quite saps the fun of work if after spending the week working long hours, you spend the weekend in airport security lines, on overcrowded flights, and doing your laundry.
Reason #4: More Family Friendly Environment
OK, reason #4 is sort of a combination of reasons #1, #2 and #3, but think about the sort of firm where the partners have said, Hey, we want to work close to homedont want to work a bunch of overtime and sure as heck dont want to travel a bunch
Are you really surprised that such a small firm environment is more family friendly? If in all the obvious, big ways the firm has constructed a family friendly work environment you can be pretty certain that the firm will also be family friendly in a bunch of small ways, too.
A small firm will more easily allow you to pick up a sick kid from school or schedule time off to coach little league. I guarantee it.
Reason #5: More Client Contact
Large firms operate with a leveraged structure, which typically means that staff accountants and senior accountants work for managers, managers work for partners, and then partners hobnob and schmooze and sell to clients.
The good part of leverage? Leverage makes it possible to serve large clients and work on large projects. And thats cool.
The bad part of leverage? The structure also means that most of the professionals in firm have little or no client contact. In fact, in many large firms, accountants may have to wait years before they actually sit down with a client. And thats tragic. Client contact makes the work more fun. And client contact provides context for the work.
In comparison, in a small firm, an accountant may have client contact as soon as he or she acquires professional competency. If youre mature and technically competent, in fact, a small firm setting may mean that you have client contact a few days or weeks after starting work. Seriously.
Reason #6: Services Provided to Decision-makers
Another subtle yet significant difference between a small firm and a large firm concerns who the CPA works with. In a small firm serving small clients, the CPA very likely works directly for and with the owner. In a large firm serving large clients, the CPA very likely works with mid-level managers.
Thats also too bad. The entrepreneurial owner of, say, a $2M, $5M or $20M business will almost surely be a very intriguing person.
Not to pick on accountants, but lets face it. That entrepreneur will probably be way more entertaining than, well, the manager of the accounts payable department or the divisional controller of some huge distribution company.
Close contact with the decision maker will also mean that youre often working on strategic and important tactical problems and opportunities. Thats not going to be true if youre working with, as I say, an accounting manager several layers deep in the organizational chart. Sorry.
Reason #7: Realistic Chance of Partnership
And one final reason to consider a small firm: A small firm should provide a more realistic opportunity for sharing in the firms ownership. In fact, if youve got good technical skills and good people skills, you are a shoo-in. Absolutely.
Lets face it: Large firms, by design, rely on pyramidal staffing. The firm cant promote every qualified candidate to the next level of the organization. Each partner keeps three or five or ten other people busy and billable.
In comparison, a small firm using a flat organizational structure could, theoretically, promote everyone to partner. A partner only needs to keep him or herself busy.
Whats more, inevitably, a small accounting firms owners will want to sell out at retirement. And that means that the firms staff should automatically have an opportunity to buy into or acquire the practice.
Bellevue Redmond WA accountant Stephen L. Nelson CPA operates a small Seattle-area accounting firm. Nelson is also the author of QuickBooks for Dummies and the Do-It-Yourself LLC Formation Kits. Contact him at http://www.stephenlnelson.com.Exclusive Mortgage Leads
Live Mortgage Lead Transfers
Live Mortgage Leads
Exclusive Mortgage Leads
Mortgage Leads
Voice Broadcasting
Voice Broadcasting
Mortgage Leads
Mortgage Leads
