post by Sam Collins
Did you ever stop to consider why your lead response rate for acquiring leads has dropped to lower than ever levels?
I am not sure about you, but as little as 2-3 years ago my response rate for acquiring leads was at least twice as much as it is today. Why? There could be a several reasons, but the obvious one is there are more competitors in the marketplace bidding for the senior client’s attention. Therefore, today it is more important than ever to add layers of marketing approaches to your reverse mortgage business. Some of these layers involve time and money. In order to be successful, you must make the committment to both.
What happens when the demand exceeds the supply? The most obvious is an increase in the cost of doing business. In other words, if you use to get 100 prospects with a 5000 mail piece and now you only get 40-50, then the cost of those prospects have essentially doubled, thereby increasing your cost of doing business.
So, what are you doing to increase your response rate and drive your cost of doing business down. If you are member of REMALO, you know there are tons of sales and marketing tools for you on the Membership site. If you are not a member, you should consider a trial run.
I will leave you with this suggestion for improving your conversions and maximizing your investment.
Here it is:
Make an investment in your business. Yes, you can no longer afford not to invest in your business. Investing in your business is investing in yourself and your future. With all the changes and pressures being exerted in our industry, you must consider investing or be prepared to have a good exit strategy.
If you are saying how can I make an investment, I don’t have the money? It doesn’t take much money, click here for a simple lead strategies approach. Next, if your budget is tight, then you must have time. Get out of the office and on the street. Leverage your relationships, review old files, and become a guerilla marketer.
