Valuable Tips On Mortgage Life Insurance Leads...
Mortgage life insurance leads can be a nice profit center for any insurance agent.
Mortgage insurance leads can be a fun sale too. You meet nice families of all ages and they can become excellent clients.
So how do you go about generating mortgage leads? There are several alternatives. This article is geared toward generating mortgage life insurance leads with direct mail. These tips will help you beat your competition (and the big mail houses) to the punch! So while tons of agents are waiting for their mortgage life insurance leads to be faxed or mailed to them from direct mail lead generation companies that send everything bulk mail (more on this in a moment), you'll get first dibs on better quality mortgage life insurance leads.
Before you discredit direct mail to generate mortgage life insurance leads, think about this:
There is a HUGE transition to the web right now, and for good reason. People are looking for information on the web. They are hungry for it. So a lot of companies are focusing on generating mortgage life insurance leads on the internet.
To some companies credit they can be very good quality leads.
BUT, this means there is opportunity for you to use direct mail to get mortgage life insurance leads. Several years ago there were tons of direct mail solicitations for mortgage life insurance and there were several companies selling mortgage life insurance leads. Most of these companies have gone out of business because of the Internet and because the costs to mail were too high. They could not compete and be profitable.
Anyway, for the independent agent there is an opportunity in the mortgage lead generation arena...there are dramatically less mail houses out there competing with each other, which means less mail in mail boxes. Secondly, they send everything bulk mail. This means the mail is delivered slower, and lots of it gets thrown in the trash.
First step: Get the list.
Get a list of new mortgages and refinanced mortgages in your area. You can do this almost for free if you go to your county clerks office. But it will require little legwork and manual work. The other option is to find a good list broker out of the yellow pages or on the Internet. Be careful though. There are some really bad list brokers out there. But if you find a good one, you've found gold.
Mortgage protection leads can be a nice profit center for any insurance agent. Keep in mind that list brokers don't mind a couple of small orders of 2,000 or 5,000 names the first couple of times you order, so reward them (and let them know you will reward them at the beginning) with a larger and larger order (if his/her list works well for you).
Ok, so now you've got your list…
Design the mailer.
How are you going to mail your direct mail piece? Are you going to send a sales letter? A postcard?
I recommend sending a sales letter with a Business Reply Card (BRC). The idea here is to get your prospect to feel compelled to get more information after they read your sales letter. So give them the option to call you directly AND send in the card. Other agents have been successful sending the BRC alone to generate mortgage life insurance leads. So what they do is they put the BRC in an envelope with a little note. All the mortgage prospect has to do is check off the box requesting information and fill in their dates of birth, contact info etc., and mail it back. (I'll show you an example of a BRC here shortly so come back to this page soon!)
Third Step: Send it.
Send your letter and/or BRC to your prospect. But DO NOT SEND IT BULK MAIL!!!!! Send it first class mail, and send it right when you get your new list of mortgages.
Don't wait because you want to get there first…you want your mailing piece to arrive before anyone else's. So send it first class mail. Think about it. There might be a few other agents in your area generating mortgage life insurance leads, and on top of that there might be a couple of big mailing houses out there. Most agents are lazy about lead generation so you can count on them to procrastinate.
Secondly, the big mailing houses buy huge lists and they take time to compile and send giant loads of direct mail. On top of that they are printing huge quantities of mailers. And thirdly they are sending everything bulk mail which alone reduces response and you don't get as leads.
Fourth Step To Getting Mortgage Insurance Leads: Keep mailing.
All this spells OPPORTUNITY and hot fresh mortgage leads for you. Also, about the list. Not only should you mail to the new mortgages and refinances, you should also mail to the mortgages from six months to two years ago…MORE OPPORTUNITY!!! Because agents have given up on them, and so have the big mailing houses. If you do your marketing right, you will find this to be a whole new profit center for you.
Just because you mailed once doesn't mean the list is done. Keep mailing to your list every month. Why? Because the other agents and mailing houses are not. So that means you will get several more good mortgage life insurance leads from non-responders who finally decide to make a decision. This used to be one of my jealously guarded secrets. But since I am not working
anymore, I wanted to share it with you.
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