Direct Mail Response Rates and Conversions Rates
Good afternoon all,
I am a new investor that has a goal of getting 6 subject to/lease option deals in the next 3 months. I have some experience with marketing and copy writing but I hired a professional from elance to create my direct mail marketing pieces (Post cards, 3 step sales letters) to increase my response rate.
My question is what would be a good response rate from direct marketing on the 1st, 2nd, 3rd and 4th mailing? Also what would be a reasonable lead conversion rate for someone starting out in the business(I'm new but I've been studying realestate for years so I wouldn't say I'm totally green)?
These numbers are important to me because if I need 6 deals and I know what the response rates will be and what is an expected conversion rate for someone new, I can plan my marketing accordingly instead of flying blind.
Ex: 12% response rate for direct mail, 50% conversion rate = 100 directmail pieces to get 6 deals
I know that's a rose colored view of what I would like to happen but you get the drift of the question, any help would be, well helpful.
Signed,
Newbie from GA