I have talked about direct mail for a long time now. One thing that is so important to understand about direct mail is that you have to set up campaigns to be successful with this strategy. Sending out a whole bunch of letters once or even a couple of times is just a waste of money. Direct mail is a long term strategy. Before we move on to creating absentee owner letters that actually get a great response, I want to spend a little time going over the basics of direct mail.
What Exactly is a Direct Mail Campaign?
A direct mail campaign is an ongoing process of sending mail pieces to your target audience. It is not a one or two time event where you mail to your prospects. My rule is that I mail everyone, every month so long as the house is still available. This is what I know for sure: folks that are successful with direct mail marketing follow some tried and true principles and that's what this article is about.
Today podcast is on one of my favorite topics which is marketing, and we will have some tips for marketing your real estate investing business.
I’m happy to have Kathy Kennebrook back on the show for a second time, and we will be talking about what’s working today. You can bet direct mail marketing will be part of that conversation.
Why Direct Mail?
Direct mail is still the #1 source of leads for both of us. That is something that hasn’t changed over the years. No matter what type of market we are in, direct mail is the best lead generator of all.
However if you’ve going to be successful with direct mail, you need to be consistent. You need a system that is implemented month after month. 81% of your deals will come at or beyond the 5th mailing. Read the rest of this entry →
In the second part of this 2 part series on direct mail statistics, I want to talk about split testing. As you know, split testing is when you test one (or more) things against another thing. In this case we are talking about split testing different direct mail pieces.
For example: Let's say that you have a list of 900 names on an out of state absentee owner list, and you have been using a yellow text postcard as your mail piece. Even though you have been mailing consistently, you just don't feel like you're getting the results you should be getting.
Once you have determined that your list is good, the next logical thing to look at is your mail piece.
Here is a fact: different direct mail pieces work better in some areas than others. Different mail pieces also work better for certain groups of motivated sellers.
Here’s a question I get all the time; how often should I send out my direct mail?
Most people that have followed me for any length of time know that I am a “mail monthly” person. With few exceptions (like mailing to probate attorneys), this is always the rule for me. And over time, it has proven year after year to be the right answer.
I learned a long time ago that I would only get great results if I would send out my direct mail consistently every month.