Postcards for first hit of target area?

Question

After combing through a number of different posts on marketing strategies, I have come to some sort of a conclusion: yellow letters have a relative high response rate with high probability of unmotivated sellers, and postcards lead to low response rate with more motivated sellers.

This being the case, I have decided that I would like to go the postcard route. I choose this because I am working a full time job where I wouldn't be able to handle the number of calls yellow letters would create (theoretically). The amount of calls a postcard campaign would bring me seems like it could be manageable considering the amount of attention I give my day job. Therefore, my only question is if this is an effective first step in a marketing campaign? I suppose another question is what is the best way to start a marketing campaign while you work a full time job and can't easily drop anything to pick up your phone when someone calls?

Skyler Harkins · Answer

Thanks @Franddy Aguasvivas @Brian L. for responding. It seems like Google Voice is the way to go, and if I can't answer the call, it isn't the end of the world. Variance and consistency will be key to find out which marketing strategy works, which I guess answers my original question about starting off your target area with postcards opposed to some other type of mailer. I understand there isn't any silver bullet, but I just want to set myself up with the systems to mitigate the challenges I think I'll face.

Matthew A Rodriguez · Answer

It is a good general rule to never let the phone ring more than twice. If someone is calling you IT NEEDS TO BE ANSWERED!!! Consider finding a friend that you can train on a script that is willing to answer 24/7 for a commission on every deal. Means you don't have to pay out right away and they get well paid out of what is produced. If they get even 1 call a day for a month its only 30 calls. If you close 1 deal a month for a average 5k fee and they make 10% on every deal they are making $500 for probably 10 hours of work. Most Wholesalers let their clients go to voicemail. Exploit this as your unfair advantage.

Brian L. · Answer

@Skyler Harkins, @Jason Flynn is correct about the call back numbers, for the first contact you will likely see 1-3% call back. With each follow-up contact your call back rate should go up, so the key is consistent follow-up.

As far as managing the calls goes, if you think that you can commit time to each caller at the time that they call then go ahead and answer. Just be ready to talk, it is not uncommon for me to spend 30-45+ minutes on the phone with a seller. I personally like talking with people but if you're at work you may not have a few extra hours each day to commit to phone calls. You have to build a relationship with each caller if you want them to sell you their house.

Personally I use Google Voice, every call goes to VM and I call people back when I have time to talk. Before I call I take the time to look at their property online and learn what I can about the house; I start a property info form on the house and then I call, prepared and ready to deal, knowing that I will have to listen to their story if I want them to hear mine.

Franddy Aguasvivas · Answer

Hi Skyler, I am glad you are taking action! As Jason says, you can either get a Google Voice which is very convenient or you can just hire a "virtual" assistance like Pat Live, Your Voice Link or any other, just to mention a few.  And this services will act as your "personal assistant" getting the info you need from your sellers.  I personally use Google Voice and as you said, I always answer my phone calls, but I understand in your case is different.  As for the mailing, you just must continue to "test" your areas and market niche.  I did and I realized that in my area (Boston, MA), bandit signs and yellow letters are a waste of time.  It's all about that learning curve.  I hope this helps a least a bit.  I wish you the best of Success!

Jason Flynn · Answer

@Skyler Harkins

I understand the reservation about not answering the phone. But inevitably people will call when you're not available to answer either way. I've read about, and heard about on various podcasts, investors that specifically will NEVER answer the phone when its calls from their Yellow Letters. Using virtual numbers, you could set up one number for one campaign, and another for the next campaign. (not with Google Voice, you only get one number).
	
	About Google Voice. I'm using it because I live and am going to market in a different area code than what my cellphone has. I don't want to give up the phone number I have had for several years, and I also don't want to be sending out my personal number all over the place. So using Google Voice, I can have the calls forwarded to my personal cell number. If I call back using the app, it uses my Google number, not my personal number.

Skyler Harkins · Answer

@Jason Flynn You are probably right about the actual number of calls that I would receive. I guess it would all be scaled on the number of items that I send out.

As far as Google Voice goes, I have briefly read up on it and didn't understand the purpose. I choose any phone number that people call and it gets routed through that number without actually going to my personal phone? Nevertheless, when people do call back, I'm sure it is more beneficial to answer the phone than rely on them to leave a message. I mean when I call my friends I don't even leave a message, let alone a leave a message for a stranger that might buy my house! Who knows.

Jason Flynn · Answer

**I haven't done a campaign yet, so take this as you will...**
	
	I kind of think you might be over estimating how many calls you might get, even through a yellow letter campaign. I've heard numbers in the low single digits, like 1-3% calling back, and then not all of those will turn into deals. I might be totally wrong about this, just that is what I have heard, and it might be different where you are. At the local REIA meeting the last guest speaker spoke specifically about marketing, and mentioned those numbers.
	
	That aside though, have you considered setting up a Google Voice (or similar) number? You can set it so your phone doesnt actually ring, but you still see who calls and when, and if they leave a message you will get an email transcription of the message automatically. It's my understanding that a lot of the numbers you see on postcards and bandit signs go to virtual numbers, not usually the persons personal phone.

Good luck on the campaign, whatever you end up doing!