Is your mortgage company actively promoting reverse mortgages? If not, now is the time to start. We’re sharing our insider information so that you can successfully market reverse mortgages.
Secret #1: Direct Mail Rules
The first secret for reverse mortgage marketing is to use direct mail. For years, direct mail has been one of the most effective advertising strategies for the mortgage industry. Other marketing channels can’t beat the ROI, responses, and sales rates that direct mail delivers. Direct mail is exceptionally powerful for marketing to seniors, making it perfect for promoting reverse mortgages. Seniors aren’t known to be active on social media, and they aren’t likely to click on display or search ads, which makes social media marketing and paid search ineffective for this demographic. While seniors do use email often, they typically don’t respond to promotional emails. For seniors, email is for communicating with friends and family – not for advertisements.
Direct mail is perfect for reverse mortgages because seniors are accustomed to receiving and sending mail. For a majority of their lives, snail mail was one of the most common forms of communication. They’re very likely to get their mail each day and take the time to read it, which gives you great odds that they’ll look at your mailer.
Secret #2: Make It Readable
As people age, their eyesight can worsen. You need to be aware of this when you create your mailers and make sure that your pieces are easy to read. Use a readable font that makes it skimmable and be sure that the size is big enough that most people will be able to read it easily. You may want to consider asking people in that age demographic to take a look at a sample version and see if they find it easy to read. If you use a font that’s hard on the eyes or that’s too small, you’ll find that fewer people will read and respond to your mailers.
Secret #3: Display Your Company Name and Logo
The name of your company and your logo should be displayed prominently on your mailer. Unfortunately, seniors are the target of many financials scams that rob them of thousands of dollars each year. Increased awareness of these frauds has many seniors on high-alert. They’ve now become less trusting of ads and are beginning to share their personal information with more reservations. You’re not a phony company trying to dupe vulnerable seniors out of their savings, but you still need to make your company seem legitimate and professional to gain their trust. Showing your company name and logo helps establish trust as your mailer recipients will be able to Google your business easily. If your business name isn’t obviously visible on the mailer it could be mistaken as a scam and won’t get you as many responses.
Secret #4: Don’t Be Pushy
You need to be careful with your direct mail copywriting. The tone should be friendly, professional, and informative. Don’t be pushy or sound like a snake oil salesperson. Again, we can’t stress enough how important it is that you make yourself seem trustworthy when you market to seniors. Your goal should be to write a mailer that will interest them to learn more and respond to you. Sounding gimmicky or coming across as too aggressive won’t do your direct mail campaign any favors. Since your offer is regarding a mortgage, you need to be extra careful that your tone doesn’t scare anyone away or seem like it could be a scam.
Are you interested in a reverse mortgage direct mail campaign? Contact us today to learn more.