How Do I Know My Mortgage Newsletter Is Working?
What follows is an excerpt from an actual conversation with a potential customer here at Exodus Marketing.
- Exodus: What type of marketing have you done up until now?
- Client: Well, I’ve done different things you know…different stuff.
- Exodus: Seriously, like what, for example?
- Client: Email, we did email for a while?
- Exodus: How did that work out?
- Client: It was okay, I guess. We didn’t really see any results from it…
- Exodus: So then, let me ask you a question… (Client interrupts.)
- Client: If I do a newsletter, how do I know it’s working? How do I quantify the result since it’s not electronic?
- Exodus: How did you know your email wasn’t working? Did it have analytics and reports?
- Client: Yes…
- Exodus: Did you use them?
- Client: No, not really.
- Exodus: How did you know it didn’t work?
- Client: We didn’t get any loans from it. So how will I know if my newsletter is working?
- Exodus: Very simple, your phone will ring!
It’s not the tools that you don’t use that make the difference between mortgage marketing that works and marketing that doesn’t. It’s the content of the messaging that you communicate to your past client.
This particular client was very skeptical of anything out there and understood that every marketing company that’s either online, email, or CRM-based has a lot of bells and whistles. You can’t use tools to measure success you don’t have in any particular area other than to see it’s not producing the results you want. Data-driven marketing is huge; most Loan Officer and Realtor databases are not.
Trying to analyze a couple hundred email addresses as to why they didn’t open your email or respond to your laundry list of credible skills and years in the business is like buying a ride on lawn mower for a 900 square foot yard. It’s wasteful.