i have been doing a direct mail campaign to people and have not recieved one call where it sounds like it has potential.
so far i have sent out 200 letters and recieved 36 calls back and 99.5% of them have been all duds. i have a list of 600 people.
is this going to be a waste of 3grand?
the success rates can be as low as 1-2 out of a hundred but it only takes 1 to make your month
Usually the first calls are first responders, take me off the list people. Persistence is where you will find success. Stay with it and it will pay off. We are on our third week of our new campaign and have all take me off the list calls or people that are not motivated or realistic about property value. Our last 6 month campaign, the 6th month was when we acquired the most properties under contract. Right now we have 2 under contract, 2 more we agreed to terms, waiting on contracts, and 2 more we are negotiating.
Keep at it and it will pay off!
Originally posted by @Account Closed who have done this. I haven't seen one person say they were consistent with their marketing and also unsuccessful. I just started my own marketing thread last night that I plan to keep updated. I figure my newness will cost me some deals early on but it will still pay off in the long run.
Success rates are very low with mailers, it's a numbers game. Also, it's usually not the first mailer that gets through to people, it's the 3rd or 4th. I wouldn't give up yet, it takes some time for mailers to work.
im just wondering if it is my fault or if they just really are not motivated.
As others have mentioned consistency is key. That doesn't mean you won't tweak your campaign as you continue to learn your market and successful techniques however that does mean mailing over an extended period of time. In my opinion you really need to mail for 12 months consistently (not necessarily to the same list). Over this period of time you will be following up with old leads that were not motivated at the time. You will be refining your approach to converting leads. And you will be constantly tracking your results. 6 months should give you a good gauge however if you get really good at following up with old leads you will continually increase your ROI on your mailing campaigns as time goes on. Several years ago when we use to mail to foreclosure lists some of my best deals came from leads that were 12 months or older. Good luck!
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