Starting a yellow letter/postcard campaign

12 Replies

I have a small budget and I would like to know can 1 list produce a deal. I've read on the forums about how multiple follow ups are needed to be successful. My plan is to use list source, but a list of 500 and write and Mail the letters myself(that's how small my budget is). Would that be a waste or should I take another route???

I think you may be confused. You only need 1 list per campaign. What you need multiples of is touches...letters to the same names on the list. You need to be prepared to send out letters every 4 to 6 weeks to the names on your list, for 6 cycles. Responses start to kick up after touch 3 and get better with subsequent touches. 

You can do it yourself, but you need to do it consistently for 6 cycles. Otherwise, it is probably a waste of your money. There's always a possibility you will get a deal from the first mailing, but that's not what usually happens.  If you can't commit to 6 cycles, I don't know it will be worth the cost in money, time and effort. 

Hi.. New to the field. You mentioned a mailing list.. Where could I get this? Mike

We can help with lists. Btw doing them yourself is fine.   You may find that it's better to outsource however I do my own.  

I initially outsourced my mailings to yellowletters.com and others, but for my small list of 50 probate leads, I decided to write them myself. I swore I'd be able to finish in 3 hours MAX. No. Wrong-o. Stamps cost me .50/each + 100 envelopes + Ink + ugly handwriting after the 10th envelope + 2 days to do it. Lesson learned. Outsource it, seriously. If you can't afford a ton of yellow letters, do postcards. They do actually get you a decent response and if you practice the law of attraction, you WILL get a deal off that one small mailing. Trust me.

@Ana G.

I don't believe I am asking this (because it really sounds awkward) but what does "practice the law of attraction" mean?

Basically how it works is this: you must be AWARE of the power you have with your mind. When you make the decision that you want something, you must feel the feelings and excitement of already having achieved this thing that you want, and you will begin to manifest it. The universe will bring to you EXACTLY what it is that you want. Be GRATEFUL and HAPPY that you have this thing. Be satisfied that you have this thing even if you don't physically see it yet. I am a great manifester. I always have been. You just have to be careful about negative thoughts. Remove them from your mind completely. Nothing in this universe is bad unless you say it is. Stay positive and continue working KNOWING that it will result in a deal or whatever it is that you want. One person I am OBSESSED with is Abraham Hicks. YouTube it. You'll discover some serious things about being the CREATOR of your life that will blow you away. Here's something I do every day: write down what you want like this "I am so happy and grateful that I HAVE (what you want). I feel so excited, and happy, and carefree that I have this thing" and say it with animation. STAND UP, FEEL AS IF YOU ALREADY HAVE IT, AND BE SO THANFUL FOR IT. Do this in the morning, in the afternoon, and right before bed. Walk around smiling because you know you have this thing (this one makes it arrive faster because think about it, if I just got paid for a deal I did I don't care wha bad things people may say or think of me, I JUST MADE $50K OFF OF ONE DEAL!!) hope that helps :).

@david w

Originally posted by @David W.:

@Ana Garcia

I don't believe I am asking this (because it really sounds awkward) but what does "practice the law of attraction" mean?

Is the topic direct mail, list selection or discovering one's charisma?

All interesting but deserving of their own separate discussions. 

The challenge with any form of direct response marketing is that people need to first learn how to sell to understand the role of the mail piece. In my experience, it's intended to compel a reader to take a certain action, usually to call or go to website.

For decades I've mailed business to business, which is tricky because it first has to get by a secretary, someone who "filters" the mail by sorting and trashing junk before presenting to my target reader.

Mailing to a consumer is a different matter. Your prospect receives the mail piece, sorts over the trash can themselves and makes a split second decision about which ones make it past the initial culling of crap. 

If your postcard is compelling, it will be set aside for further reading. 

If your envelope (called the "carrier" in D.R. marketing) is compelling, it will be opened. The reader will typically examine the contents, 'feel' the letter and make an unconscious, split second judgment if the letter looks 'real', personal or business and then skim the headline sentence and P.S. (if any). 

Personally, I'd much rather mail to a list of principals who are motivated to do something. My job then becomes influencing them to become predisposed to do business with me. 

So, start with a great list and think through how direct mail fits in with your strategy. Yellow, white, pink or blue letter is not nearly as important as getter a reader to call you. Then the fun starts because that's where and when the money is made.

@Zac Preston

 great question.  In my opinion, if you only have $100 or so for a marketing budget, it is unreasonable to expect a deal...not to say that one wont come, but taking into account your (probably) limited experience level, you really need to spend about $1,000 on YL's to owners of more than 10 years++ in a specific zip code that you know will produce a deal (don't go way out in the middle of no where).  

With under $500 or so for a marketing budget, I think your time is better served on the free sources of leads (both buyer and sellers - zillow, craigslist, FSBO's, driving for dollars, etc.)... this assumes that you know how to structure a deal.

If you have a limited budget and aren't sure how to structure a deal, my opinion is to either 1) market for buyers and market other wholesalers deals to them and hopefully bring the two together and collect a spread or 2) find a mentor!  You have to learn how to basically structure a deal before you spend money for leads.  And always be networking.  Find someone who knows the deal and add crazy value to them until they are 'forced' to allow you to tag along and learn how to do this thing.  

@Ana G.

Thank you for your response, great advice. I believe in the Universal Law of attraction also. Ive recently began to do exactly like you stated, morning noon and night. The emotion, vibration will make things happen. Thanks again!

Love this thread.

All great comments.

I am doing my first fix and flip, bought it from a wholesaler...who made $30K on wholesaling it to me.  I'll be lucky to make $30K on my end after owning it for months and investing the money to rehab it....so I've learned to really get "deals" I must find my own and not rely on wholesalers.

Which leads me to my mail program.

I have not finalized it yet, but am considering a very narrow profile...not sure exactly what criteria to use yet. I'll met with a local title company rep this next week and see what she can offer me in the way of lists....NOD, Probate, Trustee sale (before it goes to auction and gets bid up off the charts). I know of a local franchisee who spends $8,000 a month and averages about two deals a month from those. So he's spending about $4,000 a month to get a deal. Sounds like a lot, but much less than wholesalers in our area (Phoenix) mark them up (20-30K).

Probates..inheritances..probably great targets......NOD and trustees sales probably not as good....but still better than a more general profile.

I plan to start with a $500 per month budget...and have a lot to learn before I start, but believe I can structure and close the deal given the opportunity.

I'll keep reading about mail lists and thinking positive.

Clary

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