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The Importance Of Email Marketing In Targeting Affluent Prospective Refinance Borrowers

October 8, 2019 Charlene Sterphone

According to the Q2 2019 Refinance Mortgage Consumer Profile Report published by DMS Consumer Finance, affluent consumers considering refinancing their homes have slightly above average email usage, making them prime targets for email marketing campaigns.

Email Marketing Is Ubiquitous And Growing

According to Statista, there were 233 million email users in the U.S. in 2017, and the number is projected to climb to 255 million by the end of 2020. Given the high volume of email users, it’s no surprise brands continue to turn to email marketing to reach and engage prospects. Over the last five years, spend on email marketing in the U.S. has increased by nearly 50%, with more than $3 billion projected to be spent on email marketing in 2019.

E-mail marketing spending in the united states from 2014 to 2019 (in billion US dollars) Source: Statista 2018

Email Marketing Continues To Impact Consumer Behavior

Why do so many advertisers continue to turn to email marketing in an increasingly digital world with seemingly endless marketing options? Because it works. According to a 2017 survey of adults in the U.S., email marketing played a major role in the consumer purchase process by giving prospects additional incentives to purchase, making consumers aware of new brands, helping them select between various products and reminding them of purchases to make.

leading roles marketing e-mails play in the consumer purchase process in the united states as of july 2017 Source: Statista 2018

According to the 2019 LeadsCouncil Benchmarking Report, email marketing was the top media channel used for lead generation and it also was one of the media channels that received the highest “excellent quality” and “very good quality” designations among lead buyers and sellers.

Email Marketing Should Be A Key Component Of Refinance Mortgage Marketing Campaigns

As the economic landscape continues to evolve and interest rates continue to decrease, loan originators targeting prospective refinance borrowers should strive to stay in front of their prospects via email. By offering the latest news and advice, originators can boost their perceptions as valued resources. In tandem with other channels, including social media and paid search, email can help originators can stay top of mind, particularly with affluent consumer segments who may be considering refinancing their homes.

By building and leveraging robust first-party databases, mortgage originators and marketers at large can control the messaging and frequency of their outreach efforts. Advertisers can segment their databases and personalize their emails, creating targeted interactions to highlight relevant offerings at scale.

Download the Q2 2019 Refinance Mortgage Consumer Profile Report Today

Featuring trends on geographic loan distribution, credit scores, home market values, mortgage balances, top consumer segments for the refinance mortgage market and more, the Q2 2019 Refinance Mortgage Consumer Profile Report highlights refinance mortgage market audience trends for the period of January 2017-June 2019, with an emphasis on April-June 2019.

About the Author

Charlene Sterphone

Charlene Sterphone, Senior Marketing Manager A focused and highly motivated creative thinker, Charlene Sterphone develops, executes and reports on strategic marketing programs surrounding lead generation, paid search, email, social media, mobile targeting, SEO and compliance as Senior Marketing Manager for Digital Media Solutions (DMS). Throughout her diversified marketing career, Charlene has spent time in both the agency and direct corporate and start-up settings, including positions at Sparkroom, Education Dynamics and CBS Corporation, where she has seen success with digital and traditional marketing campaigns. As an analytical marketer, Charlene enjoys discovering new and innovative tools and techniques and using them to drive growth.

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