I was speaking to a fairly new real estate investor recently, and she said she was very disappointed with the results of her absentee owner mailing. She told me that she had sent 200 out mail pieces and had only gotten 10 calls, none of which had turned into a deal. My new friend thought this was a terrible result. I pointed out to her that this was actually a 5% response rate which wasn’t bad at all for a first mailing.
When I questioned her further, she told me that she had only mailed these folks once and that was over two months ago. One mailing and she had already given up. For the next hour or so, over a cup of coffee we had a class in “Direct Mail Marketing 101”.
It’s A Numbers Game
You have to start with the resources you have, and if you can only afford to mail to 200 people Read the rest of this entry →