Every day we walk through hundreds of doors without even thinking about it. How would you like to be able to make people stop and take notice of your mortgage marketing message?
The answer is “Door hangers” or, if you prefer, “Door knob hangers”.
If you’re like me, you’ll probably love closing a mortgage with a low-cost home idea. Door hangers definitely fit into that category and are a great home tool.
Here are some of the advantages of using door hangers:
1. They are thoughtless,
2. They are easy to generate,
3. The answer is almost immediate,
4. They help you establish an agricultural zone,
5. They can target a specific market,
6. Someone is going to exercise a lot.
As noted above … There are many very good reasons why you would want to incorporate the door hanger idea into your marketing plan. But this is the most important reason of all: you will receive an immediate response using door hangers. If you’re new to the mortgage business … this is exactly what you want … you want prospects now … not next week, not next month, and certainly not next year.
If you are a veteran with mortgages but experiencing a small hiatus in your business … this gives you a quick start to finding new prospects.
And remember … this is the low-cost mortgage origination you can do right away. If you need business … and you don’t incorporate this idea … I really can’t help you … you have other issues that need to be addressed immediately.
I’m sure you realize that door hangers are meant to be used as a one-time effort to win prospects. There is no follow-up because there is no contact information. Only when your mortgage prospect calls you will it be the beginning of any kind of two-way communication. Door hangers are meant to get your message across quickly, efficiently, inexpensively, and in bulk.
Then … your door hangers are delivered. What’s next and what can you expect?
First, hopefully you will receive immediate calls. In fact, unless you are prepared to collect information while delivering; the phone may need to be switched off for an hour until it is convenient for you to call back.
Second, you may meet people willing to have a conversation with you right then and there. Just prepare for that.
Third, the shelf life of the door hanger is short, usually three to four days maximum. This is an immediate response idea with no long-term residual value.
Fourth, your response numbers will approximate the direct mail response rate without the associated costs. Expect a one to two percent response.
Fifth, you will receive complaints. Do not worry about that; just keep in mind that you will get them. You’ll find that they fall into two categories, both of which revolve around that little sign posted at the entrance to the complex where you placed the door hangers. It says: “Do not request” or something similar.
You may receive a call from a resident who is actually applying. Apologize deeply and move on. His response is: “Sorry, I did not mean to offend … I have done many refinances in the community and everyone is very happy … I provide a valuable service to your community.”
If you just attacked a rental community … you will get a call from a property manager who is not so happy. If you don’t get that call; they are not doing their job. So wait for the call and be prepared.
They will call you and threaten to contact the sheriff or local police. Here’s his response: “I’m sorry … I didn’t realize … it won’t happen again, I can assure you.” Be humble and apologize and publicize the situation.
Just so you know … I don’t know of anyone in the mortgage industry serving jail time for violating that little posted sign. This is not a crime that puts you in mortgage jail, believe me.
In the case of a rental community, I usually wait a year and do it again. You can always blame your staff (even if you don’t have one). next time … but, most likely there is a new property manager to yell at you instead. They rotate at roughly the same rate as the rental units.
Okay, let’s get back to the basics … Let’s pick a target for your door hangers. It can be a rental community, a residential area of single-family homes, condominiums, or townhouses. Obviously, if your door hangers are geared toward rentals, your theme might be “Rent is dangerous to your wealth” or something similar.
For residences, a refinance brochure with a free report is always a good option. In both cases, give them a reason to call you now … give them something that’s free if they answer.
Personally, I prefer to deliver my door hangers to rental communities, townhouses, and condos rather than neighborhoods with single-family homes. Why? Because I can deliver a large number of flyers in a very short period of time.
I also like to deliver them on Saturday morning. You can count this as your exercise time or hire a couple of kids to be posted at the gates of a particular neighborhood. If you are hiring children … get parental permission and supervise the placement of the door hangers.
You can buy blank door hangers that are already drilled and print them yourself. Here are some sources that you can check out or use Google search if you prefer. You will have many options.
paper.com/index.html – Use your search box and type in “door hangers.” Your 8.5 “X 11” 3-sheet door hanger comes in a 250-sheet pack (750 door hangers) for $ 33.08 plus S&H.
pcform.com/doorhanger.asp – Your 3-up in a 250 Sheet Pack (750 Door Hangers)
priced at $ 45.00, 1500 door hangers for $ 72.00, etc.
kwiktickets.com/updh_3up1.html – Your 3-copy pack is 333 sheets per pack. 1 package equals 1,000 door hangers for $ 28.00. Available in white, green, blue or yellow.
You can also make your own using a full-page letter-size flyer.
First … design a good flyer on yellow letter-size paper. Use the entire page. If you are targeting a residential neighborhood … use a refinance theme like “Don’t miss the boat, rates have never dropped.” If it is a rental community … “Renting is dangerous to your wealth” is a good option.
Second … let’s take that full page flyer and turn it into a door hanger.
Fold the steering wheel as if you were putting it in an envelope … in thirds. The secret here is to fold your steering wheel with the printing on the outside so that even when folded … the first third is visible and legible.
Third … while folded … punch a single hole centered at one end and pass a rubber band through it for hanging. You finished … so simple … so fast … and so inexpensive. Now … let’s send them out.
Keep this little gem of a home in the back of your mind … there are many doorknobs that need door hangers.