Welcome to the site. You would learn a lot by using the search function, if you haven't already. Listsource is great for building a list. There are a number of groupings you can use: high equity, non-owner occupied close in which may be tired landlords, absentee owners (in State or out of State), probated, property tax delinquent, divorce.
What works best? Massive action with multiple mailings.
@Andy Kozlowski there’s lots about direct mail but start with the list. I would encourage you to spend some time cleaning your list before you mail. The specific list you mail depends on your strategy and what you’re looking to do.
If you’re asking about list selection, listsource is good. They pull most of their data from CoreLogic. There’s another service called Rebogateway that has some specialized lists you can pull as well. The best list source I’ve used before is Listability but the one drawback I had is that those lists have to be manually pulled by a member of their team so you can’t play around with them too much without involving someone else.
If you’re asking about mail fulfillment and design then there are lots of options for that too including yellowletters.com and yellowletterscomplete.com just to name two off the top of my head. You can even have them pull the lists for you to mail but I would suggest you retain control of that. These services don’t just mail yellow letters but also have other forms of marketing materials including zip letters, postcards, door flyers, etc.
The lowest cost mail fulfillment will usually be through Click2Mail.com (which is actually owned by the United States Postal Service). For the most part you upload your list, create or import your template and then send it off. They will take care of printing your mail and sending it off to your list.
Before you send the mail, you should probably figure out how you’re going to handle the responses. Depending on the size of the batch you send, you may want to get an answering service or send all of them to voicemail instead of trying to live answer. Either way, make sure you have your process down before you send the mail (ie what you do after someone responds to your marketing).
Other quick tidbits with direct mail is make sure you’re sending enough of it because this stuff only really works in larger batches, make sure you hit the same list multiple times in a campaign style, customize your mail as much as possible with names, addresses, area information, etc. keep your advertising copy vague if you want a higher response or very targeted/specific for lower response rate (less calls) but higher quality leads (higher probability of closing a transaction with everyone that responds). I would also say experiment and test because that’s important too.
Hope it helps Andy!
@Andy Kozlowski The thing about direct-mail, if you want to be effective on a large scale, you need to be in for the long game. Long like 6 to 12 months.
I recently got what promises to be a $30k+ deal 14-months after the initial contract and 16-months after I sent the letter. It was from a probate campaign that costs about $7000/year - and averages $25,000 profit per year. However, I went one year without a probate deal. If I had looked at the campaign like, oh I spent $7,000 and didn't get a deal, I'd likely be missing the 300% ROI on total probate spend.
If your going to do 3 to 6 months of $1,000 per month budget, and you haven't gotten closed +$10k deal, that shouldn't really surprise you.
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