How many people to target with direct mail/postcards?

Question

Hey BP members! I'm about to increase my marketing with direct mail. I've heard other investors say that they "hit" their targeted list over the course of a few months to 5 months.  How many people (on average) do you target per month with your direct mail?  (My budget is $1000/month).   Or have you found more success with sending  1 direct mail piece to a certain list, then sending to a completely different list the next month?

Dev Horn · Answer

Yup, that is exactly what I meant - typo!

Bradley White · Answer

@Dev Horn thanks for the response! When you say "more than 50%", do you mean more than 50% equity?

Dev Horn · Answer

@Blair Halver knows his stuff - I concur with his numbers.  We have some we hit every 4 weeks, others that we hit every 6 weeks.  We recently put out a free REI marketing video on the importance of touching your prospects multiple times:

Also, with a monthly budget of $1,000, I'd start by seeing if there are 2,000 absentee owners with more than 50% in your market - if so, get that list and hit them monthly at a cost of 50 cents or less per recipient per month.

Blair Halver · Answer

Hey Bradley,

You'll want to send more than one piece to each prospect, no more often than every 5-6 weeks.

Number of mailpieces to send each month is determined by how many leads you want to get.  Depending on your marketing of course, you might estimate a 1.5% response rate for actual qualified leads.