Marketing Results Update
So those of you that have read some of my recent posts chronicling my marketing efforts have figured out I have sent out quite a few pieces of mail so far.
In addition I am trying to get more lines in the water as they say to have other potential sources, though these should be secondary to the mail efforts.
Okay so here is what I can say so far starting with the non mail efforts:
- Not any inquiries from my car magnets either by phone or people talking to me when they see them when I'm parked.
- No inquires based on some other marketing pieces I have been putting out. Things like flyers/cards/stickers on bulletin boards, leaving cards on counters, and that level of stuff.
- I have had a few people contact me on my "We Buy Houses" type Craigslist ads but nothing to serious. Also did have 1 decent possibility on a for sale ad I answered on Craigslist but they sold to a retail buyer.
- No bites on MLS offers recently, but I have gotten back on the horse a little with doing analysis. I actually feel there are more things with potential than I have seen in many months so I will keep trying to get back into the swing on this.
So pretty unimpressive so far...
Now for the mail:
So far I sent 240 PCs on each of 10/7, 10/12 and 10/18. Those are all far enough out to expect that I will have gotten most of the calls I would form those by now. I received ZERO calls from those 720 pieces...
I also did 600 on 10/22 which is recent enough that I could still get some calls, but as of now I have gotten ZERO calls from that mailing too.
That is 1,320 with no response. I'm new at this, but that seems surprisingly bad! I may not have the best list or the best piece but you'd think I'd have gotten at least a couple of tire kickers!
I also just put another 510 in the mail on 10/25 so those probably won't arrive to people before Monday (It is Sat 10/26 as I write this) so won't call that a failure yet... :)
Oh and here is your obligatory picture of a pile of postcards just before mailing them! :)
I hope that I get some responses to this 1,830 PCs, but I will keep on chugging getting more out and looking at other lists and other pieces for round 2 with the current prospects.
Also my goal is to get another 600+ done the next couple nights while watching the World Series and drop those Monday or maybe Tuesday.
Comments (14)
You got it, building a brand is great! Just make sure if the goal of the mail piece is to get them to pick up the phone and call you, that you hit them with a message that will get them to. Your brand being primary will not, but including can't hurt :-)
Shane Woods, over 10 years ago
I would go for A LOT more obvious. Borderline obnoxious. When marketing to motivated sellers, who need to sell but aren't yet for whatever reason, be it fear of admitting defeat, denial, whatever it is...you have to hit them over the head with call me, you know you need to. Stop waiting and call me. As was mentioned before, sometimes 5-6 times before they'll call. A nice really you can trust" sounds great for an agent, but is just not really relevant to someone who already knows they can't list with a realtor...and those are the people you're marketing to. Think of your mail piece as a hammer that they choose to hit themselves with. The more obnoxious and to the point your post card is, the better luck you'll have getting calls, even take me off's show you that the card is being looked at. Also, remember to build on the previous mailing for each successive mailing to the same address(es). Draw attention to the fact that you've already mailed them, and they haven't called you.
Shane Woods, over 10 years ago
Interesting point with the people asking to get taking off are really looking at them. Maybe if people are viewing them the way you did they might not even care enough to get pissed off! I am looking at the building aspect of things. One reason I do kind of like the "branding" is that it is more obvious that they are getting mail from the same people. Not as big of a factor as just getting their attention though. This is all good feedback and discussion. I appreciate the insights!
Shaun Reilly, over 10 years ago
Hey Shaun, I noticed you a few times on this forum thread: http://www.biggerpockets.com/forums/87/topics/104703-my-direct-mail-campaign-results-have-been-atrocioushelp-please?page=2 Almost all the GREAT marketers of BP said some great things, some of which was after your last post in the thread. I'm hoping you read through it some more...this thing is amazing! I had a whole bunch of stuff I was gonna offer up here, but then I realized they all posted more after I looked at it last, and covered pretty much everything I was gonna mention here. The only thing I have to offer in addition, is in my opinion, your postcard looks very Real Estate Agent. In order for your postcards to not just be thrown into the trash (or recycle bin), they need to be catchy and/or quirky with a message a motivated seller will identify with. You know, bright colored, "Hey You, Let Me Buy Your Problem House" kind of stuff. With letters you can be more "professional", but postcards need to be a call to action, not a brand recognition offering services - if that makes sense. Thanks for the conversations, and hopefully we'll have more! Looking forward to more updates....
Shane Woods, over 10 years ago
Thank you for the feedback Shane. I actually have seen that thread and there is a ton of great advice in it. You are actually the 2nd person that said they thought the card looked kind of like an agent thing. Trying to look at it objectively I can see where you guys are coming from. I wasn't planning on using this piece again once I have sent out the ones I already have, but still good to make sure the message is a little more obvious in any future redesigned piece.
Shaun Reilly, over 10 years ago
I would agree that you would expect more but I am sure they will come. If it continues I would look into the why which is tough to pin down. Marketers wouldn't tell you this but they really just make educated guesses and measure their results. If a campaign didn't work they adjust until it works, if or when it does work then they tell everyone that they are geniuses and deserve a raise. I am sure you get this based on other comment you have made. If it will make you feel better pass along the number on your mailer and I call and yell at you for a bit. May be a new stress reliever for me after my tenants call to complain that I should give them everything for free. :)
Chad Ballard, over 10 years ago
Hahaha... I appreciate the offer! :) Yeah you hear all sorts of different things about response rates and lead quality and what types of pieces to use. Seems like a lot of different opinions out there and seems like different areas to have real differences in what type of campaign will be most effective. It is a numbers game so just need to keep sending stuff out and something will hit eventually. Don't get me wrong I will evaluate the lack of results and think about what I need to do to improve, but I'm not going to be one of those "This stuff doesn't work" when my first mail piece sent out to my first list that I made myself didn't make me a 5 figure check in 30 days.
Shaun Reilly, over 10 years ago
You mailed each person once correct? In marketing the general rule of thumb is someone needs to be exposed to your product or service seven times before they try to reach out to you. Constancy is the key as they need to get to know you.
Chad Ballard, over 10 years ago
Yes Chad Ballard this is just the 1st piece going out. I totally understand that the rate of response and quality of lead should be much higher as I send out subsequent pieces. However you would expect a handful of prospects even on the first mailing, and I would have very much expected to have more pissed off people and non-prospects calling to get retail price. As mentioned above with 1,830 pieces going out I just got my first pissed off guy. :)
Shaun Reilly, over 10 years ago
Well just after I posted that last comment I actually got a voicemail from someone that received my postcard! A guy that said he just got one that was addressed to his father who died in 2005 and to take them off the list. Well not a deal but now I can say that it seems that my mail has been delivered. I'll take that as a little win. :)
Shaun Reilly, over 10 years ago
No calls to tell you off? You sure the post office delivered your mail?
Paul Sorgi, over 10 years ago
Not an unreasonable question but I can't imagine that is the case. Mostly because I have been doing small drops. I have gone to 2 different post offices and have dropped them on several different days and different ways. Dropped them at the desk once at each place when I needed to buy more stamps for the next ones, 2 times I dropped them in the slot inside by my PO Box at one, and once I dropped them in the mailbox outside the other one after desk hours were over on a Sat. So I'd think at least a handful of people would have to independently have decided to toss my stuff for none of it to have gone out. Figure even if only one of the smaller 240 piece ones went out I could have at least gotten one POed person right? :)
Shaun Reilly, over 10 years ago
Yeah I'm pretty surprised that I have gotten no contact at all! The list I have is out of state absentee owners that I complied myself from MLS data I have easy access to. As I have done a few of these I have refined it a little more but essentially I am only mailing to owners of Single Family Homes (Including Condos and Townhouses, which is a niche I like to work) that are out of state. I have been filtering out any trusts of companies for the most part (Occasionally if there is a trust that owns a lot of places I will send them 1 just in case they want to sell some/all of their portfolio. Generally hitting 10+ places if I do that). I have sprinkled in a handful of 2-3 family places in areas I know those will sell okay and I need to add a couple places to get a full set of labels. :) Might be a "you get what you pay for" situation with the list, but that might just mean that absentee isn't a good niche here as I don't see how buying that list would get different results.
Shaun Reilly, over 10 years ago
Hey Shaun, who are you marketing too?? Probate, absentee, tax delinquent?? Seems like that is a lot of mail for no feedback.
Josh Adamo, over 10 years ago