Is SMS still a good approach to win in this business?

Question

Hello all, this will be my first post here.

There is tons of valuable information, and i just keep learning more and more each time I venture through BP. Which is why I was hoping to receive some insight or critique on what it is that I may be doing wrong regarding lead generation in my wholesale business. My only marketing channel is SMS. If I receive a seller who is asking "how much" or "whats your offer", i then run numbers and give them an offer via text. From there, they either say "Yes" or "No". if they say "Yes", they are tagged as a "lead" and receive a call, on the other hand, if they say "No", I tag them as "long game" where they would be texted again in the next couple of months or so. I send about 5000 msgs daily, with an average response rate of about 9%, and 1 decent lead a day, based off of my KPIs. However, it seems like nothing is really moving. None of these "leads" are all that serious. Could it be where i'm pulling my lists from (Propstream)? or am I completely doing my SMS process wrong and missing something? Would appreciate the insight. Thank you all

Zeeshan S. · Answer

SMS Marketing is still one of the most effective channels for lead generation in wholesaling!Instead of immediately running numbers, try to engage the sellers more before giving an offer. Call the lead and never throw offers on texts. If you're open to it, I’d be happy to connect and share some additional insights based on campaigns that have worked well for others. SMS marketing is powerful, but small adjustments can make a huge difference!

Stephen Morales · Answer

Do you know what your delivery rate is? I would also be careful with text blasting. Depending on your area there may be a state fine for cold texting and you can still get fined at a federal level per text message if someone reports you. I know there are tons of people that are successful doing it and when they get fined they just write it off as an expense -- but if you're new I would proceed with extra caution. Connectivity is a big factor. I know someone that used to use launch control and would send out around 1200 messages a day. They would get around 2-3 leads or more per day. Their connectivity rate % was consistently high 80s low 90s. Anyone that was interested but couldn't come to terms they always had a automated drip campaign that they were set up on with certain frequencies. The drip would send out a message the next day then the 3rd day then the 7th day then the 12th day then the 17th day then the 24th day etc.It could also be the number you're texting from or the quality of contact data you're using too. Hard to tell without more information...but the one thing that stands out is your follow up frequency.