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Direct Mail to Home X Dates
- Thread starter jdlash
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- #12
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I'm getting ready to purchase my list and thought I'd check one more time to see if anyone could recommend a company that offers home xdates and also credit scores.
Thanks in advance!
Thanks in advance!
Have you found anyone to run your "teaser" mailers? I'm needing a matrix that I can import a massive list of consumers data and then run it through a quoting matrix so each homeowner has a "custom" quote on their individual teaser letter.
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Sounds like a bunch of busy work. Why not just get referral networks ?
A consumer calling for a quote isn't busy work.. lmao.
Also I found a way to get costs down to 37 cents a mail piece, full color with an open rate of nearly 70% and call in rate near 4% instead of standard .5-1%...
Agent who shared it gets "too many" leads a month.
I'll share the tactic with whoever can solve my problem of getting a "Matrix" for producing custom quotes using imported customer data.
For instance, I have their home value and from that I can enter in my rates for different values and in turn the matrix can take my info and average it out for coverage and price for each individual consumer. Hence, I get a mail merge with their custom quote on it.
I would definitely like any insight on increasing open rates. I've done very little mailings because of the tiny response rates.
I don't know if I'm answering your question because I think I'm over simplifying, but can't you just reverse engineer this? I'm assuming you have an excel sheet with names, addresses, home value, etc. If you know your best rate on 250,000 RC is $1,500 AP, then you can divide 1,500 by 250000 to get a factor of 0.006. From there, you can create an estimated premium column and use the formula of market value times the factor of .006. You should be able to merge that into your word doc. The problem is that there are other factors like age of dwelling and that factor can vary based on market value (a 500k dwelling might have lower factor). I would probably have multiple sheets where say sheet 1 was 200k-299k market value and 2000 or newer build. Next sheet would have 300k to 500k built in 2000 or later and so on.
I don't know if I'm answering your question because I think I'm over simplifying, but can't you just reverse engineer this? I'm assuming you have an excel sheet with names, addresses, home value, etc. If you know your best rate on 250,000 RC is $1,500 AP, then you can divide 1,500 by 250000 to get a factor of 0.006. From there, you can create an estimated premium column and use the formula of market value times the factor of .006. You should be able to merge that into your word doc. The problem is that there are other factors like age of dwelling and that factor can vary based on market value (a 500k dwelling might have lower factor). I would probably have multiple sheets where say sheet 1 was 200k-299k market value and 2000 or newer build. Next sheet would have 300k to 500k built in 2000 or later and so on.
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The problem with that is that rates typically aren't linear. If a $200k home cost $1000 to insure, a $400k won't necessarily be $2k to insure.
I get that. If I were to do it, I would probably breakdown sheets every 50k and only send to sweet spots for a carrier. So I would prob have sheets for every 50k between 200-500k. I just don't really see the point unless you can get a high % open rate. I had one carrier rep say a couple of their agencies were using a company that had a matrix to do this and got response rates closer to 4-5%. I tried it and got less then .5%. I probably needed to use more trial and error but I'm not big on spending that kind of money to do trial and error.
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