Updated over 10 years ago on . Most recent reply
Test time with post cards
Well my first 1000 post cards came in with a huge response rate of 1... yes only one response. However Micheal at yellowletters.com was kind enough to re design and re mail for me! I am excited to see the difference this makes!
Most Popular Reply
Here is the biggest challenge with being a direct marketer - when you get no deals, you need to keep mailing. People send out a pile of mail, write a large check, then don't close anything and now question what to do next. Or, they close a deal and focus all their energy on that one deal, shutting down their mail.
If you're going to be a marketer who focuses on real estate, you need to be a marketer. You can't stop the mail. No deals means send MORE mail. You get a deal, you keep the mail going and wholesale anything you can't close. But, YOU NEVER STOP MAILING.
It is a game of metrics. I've read that it takes 7 touches to get a response. I don't know that to be true from my own personal tracking, but let's pretend it is. A person starts a mailing campaign and sends out a batch of mail. He gets no calls and now questions what to do next. Wait a minute! Didn't we just say it takes 7 touches?! So, the budget going in to this endeavor should be calculated on mailing the entire list at least 7 times, but that is where most fail. They set aside $500 or $1,000 and eat, love, pray for a deal. Well, it doesn't always work that way. I spend a significant amount on mail. I always get at least one deal every year that will pop a check bigger than my entire year's marketing costs. However, I may go weeks with zero deals and I'm dropping 4 figures a week on marketing. I can't get that home run deal if I run my marketing campaign sporadically. I might get lucky, but I don't really have a business.
ABM = Always Be Marketing!