I got a reader question this week about direct mail campaigns, so I decided to do a really short podcast where I answer this particular question. It was, “How many times should I send direct mail to someone to start getting deals?
(I might just call this the “Ask Sharon” series. What do you think?) So. if you have a question, just send it my way!
Here is the question. “When I’m sending out direct mail, how many direct mail letters is enough? 2 touches? 4 touches? 7 touches”?
This is a really good question that I'm going to answer in this show.
Does Your Niche Make a Difference?
It makes a difference in the timeline, but it doesn't change the rules of successful direct mail campaigns. So, what do I mean by that?
Let’s Take a look at Some of These Real Estate Niches
- Absentee owners
- Code violations
- Vacant houses
As you can see, they’re all going to have a different timelines due to the processes involved. That's the only thing that is different.
This Stuff Doesn't Work!
I still hear this from investors all the time. “This stuff doesn't work!” They send out a couple of huge mailings to a list what they have determined to be a list of potentially motivated sellers, and then stop mailing altogether.
I want you to remember this:
81% of your DEALS will come at or beyond your 5th mailing, yet 90% of investors stop mailing on or before the 3rd mailing. Response rates today are at about 1% nationwide.
Here's the Guiding Principle I Want you to Follow
Mail everyone, every 30 days until one of these things happens: You buy the house, someone else buys the house or they come off your list for one reason or another.
One thing I want to touch on has to do with your list. Rather than hitting a huge list of potentially motivated sellers just once or twice, narrow down your list so that your direct mail budget will allow you to mail them every month. The magic and the money is in the follow up.
My next show is on “Getting the Best Results from Your Probate Direct Mail Campaigns”. I’m going to do a deep dive into successful direct mail campaigns for probates, but the same basics apply to all direct mail campaigns. I have some really interesting statistics for you . You are also going to learn the 4 essential components to any direct mail campaign,. This information applies to every real estate investing niche.
Here's Your Podcast – How Many Times Should I Send Direct Mail to Someone? Podcast #176
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