Hello I'm looking for feedback on getting a specific Direct Mail campaign going $1,250 a week for $5k a month in mailing. I've done DM before and purchased houses and rehabbed them. I want scale my marketing up. The criteria I may use from a more experienced rehabber from a marketing campaign is as follows,
-owned for 10+ years
-property is 25+ years or older
-owner is 55+ years or older
-zip code specific
Anyone buying houses on a large scale 5-10 house's or more per month doing Direct Mail I'd like your feedback and see if I'm on the right path. If I missed something in my explanation please let me know so I can explain myself and hopefully get some verification moving forward.
Your criteria looks good to me. What are you going to say in your letters? That would be important as well.
If you're looking to flip houses, maybe you should target sellers who are on the code enforcement list?
You may also want to try hand addressed letters. Im getting a MUCH higher response rate by doing this simply because most people aren't throwing away my letters thinking they are junk.
Which is most important: quantity or quality (profit potential) in your campaign?
I don't know your zip codes nor would I recognize the demographics outside CA.
However, you need yo create multiple tough campaigns that seek to identify specific triggers as catalysts and dial in your copywriting and all marketing to those issues, even at the exclusion of others.
Some of the most successful marketers pull lists from abstracters and data aggregators from life event lists and target multi-trigger targets. The data can be pricey. However, I'll take a we-qualified prospect with high back end profit potential over making tips every time.
@Rick H. thank you. Yes it would be a monthly touch. I was going to eventually implement Probate and Code Violations as well.
@Nick Collins, have you started the campaign? How has it been going if so?
@Michael Baradell, No not yet. Will begin implementing in March/April.
@Nick Collins , Any progress on this campaign?
Looks like I'll be the guinea pig. Implementing in April. Will spend a few thousand per month.
@Nick Collins - I did my first mailing last Friday using ListSource...but was unable to get enough records when I tried to target older owners.
Would you mind sharing your list source with me?
And by the way...got 10 calls so far out of 2,500 mailed...so ratio is low- but 7 out of 10 are real people with various stages of motivation...so all good from a learning standpoint for me.
@Pratik P. how many letters are you sending out? You mentioned hand written envelopes which seem like a lot!
Where do you pull your lists from, how or who prints your letters for you, and what is your search criteria for lists if you don't mind answering. PM me too if you want.
I ordered my listsource list through yellowletters.com. They get a deal since they order so much. I've heard cycling between post cards and letters is good. Some people like coke some people like Pepsi.
Yellow letters also has zip letters which I'm looking forward to trying
I was sending about 700 letters a month. That was the cheapest and most effective way I found at the time. My lists came from county records (free), I mail merged and printed the letters with my printer at home. Try to obtain lists of code violations, vacant/substandard houses, delinquent utilities.
But since then, I've scaled up my marketing to 5k-10k letters so it's not feasible anymore. I outsource the mailing to yellowletters.
@Pratik P. Great for you! I will be starting low and then re-investing 15% back into marketing.
Any advice on how to obtain those lists?
@Stephanie Polydoroff That's going to depend on how your county stores records. Here, I have to go use their computers at the tax office to get ownership information. Just start calling departments, utility companies, etc to see if they have these lists.
@Pratik P. Cool thanks.
Do you do anything with divorce or eviction notices? If so do you partner up with a lawyer?
@Stephanie Polydoroff I'm looking into evictions. I have to figure out if its possible to get that list. No partnering with lawyers.
@Pratik P. I am starting to do research, too. So I will let you know if I find any valuable info out vice versa.
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@Willy Wallace my criteria is in the initial post of this thread. The response rate is 1% or less. So keep mailing.
@Nick Collins - What list source are you using to get those specific criteria you mentioned in your initial post? Thanks!
@Nick Collins I saw your criteria was asking about your list source? Thanks-
With Alesco you can go back further on ownership. Plus I'm going to remove the age requirement. And though this goes against popular thinking I'll include LLC's. The thinking here is there will be one off investors who have a property or two in an LLC and eventually might want to sell the asset.
@Nick Collins - Thanks for sharing! I'll check out Alesco; hadn't heard of them before.
Can't wait to hear about your success!! :)
@Nick Collins thanks bud!
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