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You can check with Josh (who posts a lot a lot on the forum) at Affordable Marketing Lists, he might be able to help you with a list.
Mailers for Homeowners
- Thread starter Zimbo1980
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Insurancedad
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Would you please email me a copy of the letter you have been using? IT would be appreciated :-)
Thanks,
Chris
[email protected]
Thanks,
Chris
[email protected]
OK, I know I am dredging up an old thread, but some of the posts in it have me really intrigued.
First off, I do the county records quote thing. I subscribe to Haines Real Estate and use it to generate my list, importing that data into a spreadsheet I programmed to do the quotes. I designed a flyer that gives the quote I stuff into a window envelope with a folder/inserter along with a 'buckslip' (a small flyer telling people why they should buy from us). My envelope is a basic window envelope, identical to our normal business envelope, except for the bulk mail indicia on it which I designed to look almost exactly like a metered mail stamp.
I calculate my rate of return based on business written, projecting those commissions over the average life span of a policy (3.5 years for monoline, 8 years for multiline). Adjusted for inflation, I project 165% ROI.
Reading your posts, particularly those of djs, I am stunned by the response rates of 1% and higher. My response rate is a mere pittance of that (.075%), we close 65%, more than half of those being home and auto multilining. If I could somehow generate 1%, I would be in hog heaven and be the richest man in town because that campaign should net me a 345% ROI in the first year!
So I would love to hear about these response rates... Are you tracking these precisely or estimating? Too many agents I talk to don't really track their marketing ROI let alone actual cost per prospect contact they receive.
Second, I would like to hear about the piece(s) that generate such wonderful response rates.
Thanks in advance.
First off, I do the county records quote thing. I subscribe to Haines Real Estate and use it to generate my list, importing that data into a spreadsheet I programmed to do the quotes. I designed a flyer that gives the quote I stuff into a window envelope with a folder/inserter along with a 'buckslip' (a small flyer telling people why they should buy from us). My envelope is a basic window envelope, identical to our normal business envelope, except for the bulk mail indicia on it which I designed to look almost exactly like a metered mail stamp.
I calculate my rate of return based on business written, projecting those commissions over the average life span of a policy (3.5 years for monoline, 8 years for multiline). Adjusted for inflation, I project 165% ROI.
Reading your posts, particularly those of djs, I am stunned by the response rates of 1% and higher. My response rate is a mere pittance of that (.075%), we close 65%, more than half of those being home and auto multilining. If I could somehow generate 1%, I would be in hog heaven and be the richest man in town because that campaign should net me a 345% ROI in the first year!
So I would love to hear about these response rates... Are you tracking these precisely or estimating? Too many agents I talk to don't really track their marketing ROI let alone actual cost per prospect contact they receive.
Second, I would like to hear about the piece(s) that generate such wonderful response rates.
Thanks in advance.
You're right, you've dredged up an old thread 
For me, the 1% was probably a decent average at a 60 day measurement. It would go up slightly if I measured out to around 6 months, but this was a few years ago....
Direct mail has probably gotten much tougher since then, so it wouldn't surprise me to see the response go down slightly for exactly the same mailing.
My mailings looked like a bill. I had the best response rate with this. Hand addressed was terrible, stamped was not as good, but looking like a bill, that worked.
I made a big deal of my premium, which was as accurate as I could get it. In CA, we don't use credit scoring, so it makes it easier. Yes, I used auto/home discounts, mostly because I wanted to write multiline, but I didn't through in every discount just to get a phone call.
I quoted with a $2500 deductible (though listed the premium with a $1000 deductible as well). This made the premium compelling. Most people in the area have $1000 deductibles.
Direct mail response has a lot of factors to play into it. Upscale neighborhoods I think are tougher than blue collar neighborhoods. If your letter looks like junk mail, it will get tossed in the junkmail pile.
If you are only closing 65% of the people who respond, something isn't compelling overall. I closed more like 90%.
Note my notes are past tense. I have not been doing this program lately. Should try it again, but it is a LOT of work.
Dan
For me, the 1% was probably a decent average at a 60 day measurement. It would go up slightly if I measured out to around 6 months, but this was a few years ago....
Direct mail has probably gotten much tougher since then, so it wouldn't surprise me to see the response go down slightly for exactly the same mailing.
My mailings looked like a bill. I had the best response rate with this. Hand addressed was terrible, stamped was not as good, but looking like a bill, that worked.
I made a big deal of my premium, which was as accurate as I could get it. In CA, we don't use credit scoring, so it makes it easier. Yes, I used auto/home discounts, mostly because I wanted to write multiline, but I didn't through in every discount just to get a phone call.
I quoted with a $2500 deductible (though listed the premium with a $1000 deductible as well). This made the premium compelling. Most people in the area have $1000 deductibles.
Direct mail response has a lot of factors to play into it. Upscale neighborhoods I think are tougher than blue collar neighborhoods. If your letter looks like junk mail, it will get tossed in the junkmail pile.
If you are only closing 65% of the people who respond, something isn't compelling overall. I closed more like 90%.
Note my notes are past tense. I have not been doing this program lately. Should try it again, but it is a LOT of work.
Dan
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