I have been mailing letters to absentee and vacant property owners for a while with some response.
I want start a yellow postcard mailing to the same people and would like to know what process would require the least amount of capitol.
Is it best to hire a service or get a list and do it myself?
What are the typical results and how often do you mail?
Thank you all in advanced for your assistance
I will say if you can go about it yourself then that will be the route I will go. Yellow letters are very powerful if you can go about it in the right way. Yes, if you have the budget then that will save you time and effort if possible. I wrote a great guide called "Real Estate Postcards? Complete Guide to Increase Your Response Rate by 50%" which you can google that give even tons of more creative ideas for yellow letters and post card marketing.
Keep us posted
Hello @Frank LaQuaglia !
Postcards are a great way to reach your leads for a bit cheaper. The stamp alone is less.
Depending on your quantity and your time available, I would say you could do it in-house. Just using a simple mail merge system will make the postcards more personal and give it the one-on-one conversation feel.
You could also go to the Post Office and ask for postcard stamps. If I remember correctly those stamps are about $.34 as opposed to the First Class stamp of $.49.
As for results, that's a bit more tricky. The competition in your area as well as the market itself can affect the responses. However, based on our own mailing as well as customer feedback, we have seen an average of about .5% response rate with postcards.
Keep in mind that direct mail tends to work best when you send a campaign of 5-7 different pieces, 4 weeks apart from each other. Follow ups are key as the average person takes 3-5 touches before picking up the phone to respond.
Let us know how it goes! I'd love to hear what you decide to go with and hear about your success.
Thank you for your response, I'll check out what the post office has to offer.
Profit to all.
If your goal is to spend the least amount of capital, then compiling your own list from D4D, going to your assessor's office, and other means of doing the work, and printing your own mailings in house will cost the least.
If your goal is to scale up and do decent amounts of mailings to have a solid pipeline to enable consistent deal flow over time, eventually you're going to want to outsource the your print/pack/ship of DM.
Recommendation: do it in-house first after D4D and track your *TIME SPENT* *response rate* and *conversion rate* at a minimum. Your campaign should be a *minimum* of 4 letters, with many responses coming from 4-7. A typical campaign usually lasts about 6 months with mailings every 3-4 weeks. Try to avoid landing on Mondays.
Tracking your results is important, and also do not let your calls go to voicemail. Pick them up and talk to your potential sellers. Make sure you devote the proper time to each lead.
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