PaydayNow explains why email marketing for loan officers is effective.
Credit officers Others may perceive email marketing as either a waste of time or inefficient. If you are not properly executing your email marketing, any of these factors may prove to be inadequate solutions. Generally speaking, it is a fallacy that numbers don’t lie and that email marketing has the potential to aid in the growth of your organization if handled appropriately.
Articles declaring “email marketing is dead” or “the new email killer is coming” are obnoxious. Methods for attracting the attention of others. Nonetheless, one thing to keep in mind about all of these works is that they do present an intriguing issue. Because they had all lost their audience’s interest through email, corporations found social media so enticing. Because the traditional “spray and pray” approach to email marketing was ineffective, not because the medium was “dying.” Therefore, it is not emailing itself that has become dead, but rather spammy email marketing.
In light of this, there will be a major increase in the usage of high-quality email marketing in 2013 and 2014. For this reason, PaydayNow created a concise outline of the advantages of email marketing for mortgage brokers offering loans online with Instant Approval.
Cost-effectiveness and a high rate of return rank first.
You may be shocked to hear that email has the highest return on investment for your marketing dollars if you haven’t previously. The average return on investment for email marketing is $44.25 for each dollar invested (Experian). You will receive the most value for your dollar if you compare it to dollars from other sources. The return on investment (ROI) for each dollar spent is $17 for keyword advertisements and $2 for banner advertisements.
Not the “hope and pray” approach
Even if you are familiar with (or implementing) conventional marketing strategies, they are absolutely ineffective. Place advertisements in local community newspapers and on billboards to promote your business. In contrast, direct mail and door hangers are far worse. Typically, response rates for direct mail are between 2 and 2 percent. The average open rate for an email marketing campaign ranges between 20% and 30%. I have determined how I will spend my hard-earned money.
Attractive and Captivating
When it comes to sending an email to a specific individual, traditional advertising tactics and even social media do not operate in the same manner. Email permits direct communication with the recipient, allowing them to respond and initiate a discourse. Email is an excellent relationship-building tool, whether it’s with an existing client or a new one who has demonstrated a genuine interest in what you have to offer.
Data and Measurement
A do-it-yourself tool or an email service will enable you to track email campaigns in significantly greater depth than traditional marketing would. Each email can be analyzed for open rates, deliverability, bounces, and problematic email addresses, as well as the number of clicks. The best thing is that it is immediately linked to an email address, so you’ll know when someone is interested in conducting business with you.
Your customers utilize email, therefore if you ever thought they wouldn’t notice your messages, you were mistaken. There are approximately 3,2 billion active email accounts. Considering that 91% of people check their email daily, it is safe to conclude that email is an excellent tool to reach your target audience. (ExactTarget)
At the Forefront of Your Mind
Last but not least, dishonest email marketers no longer defame the rest of us. With the assistance of spam filters and individualized inboxes, the clutter is contained. Your audience notices your emails that are entertaining, fascinating, and not promotional. The benefits of email marketing extend far beyond the inbox, despite the fact that not everyone will read every email you send.
In the last few years, it was easier for mortgage professionals to remain with the same old email newsletters or do nothing at all when it comes to efficient email marketing. Modern consumers are more knowledgeable than ever before. Because they are so engaged online, they are fast to identify ineffective “marketing” and unwanted information. To remain top-of-mind with your target audience, you must reach out to them via email with the proper strategy.