Who is pausing their off-market direct mail system right now?

Question

I still think now is the best time to keep mailing, especially if you've been at it a while, but it's hard to look at the monthly fees for it to go out if the chance of returns and closings are limited. I think we will have access to many more deals, but they may have to be long plays to close later. I keep going back and forth on whether or not to just hit pause on my mailings and let all the postcards they've received for months marinate now while I reduce my monthly spend.

What is everyone else doing if they have substantial assets committed to direct mail marketing each month?

Jerryll Noorden · Answer

No offense, but that is something you should NEVER do.

"When in doubt send more?"

What the heck man?!

When in doubt, throw more money at it and hope it will be better?

This is why people have such a hard time getting leads. There is absolutely ZERO effort put into strategy, data, analysis.

No man... when in doubt, do research and use your head.

Braden C. · Answer

Our first round of letters hit yesterday that have a mention of the virus. We basically put in bold red at the top of the letter that we're still buying and can help the seller quickly liquidate an asset if they so choose. We received a much higher response rate than usual and there are several very promising leads. So for now, we're going to continue mailing and just be a bit more cautious with the offers we make and what we plan on doing with the deals we get. If things change, we would quickly hit the pause button.

Avery Gilmer · Answer

We just mailed out "snap pack mailers" the ones that look like checks to owners who own vacant properties.

Ismael Mathurin · Answer

@Jerryll Noorden

You're absolutely right. If the ROI is greater than the initial investment, than No it wouldnt as "expensive" . My thing is finding out what actually works, instead of putting money into just any systems out there. I would want a return on my investment at the end of the day.

Michael King · Answer

I'm probably a grumpy old man, but in this COVID moment, it angers me that I still receive marketing mailings. The reason it ticks me off is that there is additional workload and exposure to COVID for everyone from the guy printing it and stuffing it into an envelope, to the USPS worker who shoves it into the sorting bins and then the next one who puts it on the truck (honestly I don't know how this mail thing works, it's pure magic just like eggs in a carton), then to the delivery and then I have to come outside and open the mailbox. I feel like companies are tone deaf to the possibility of the spread.

Yes maybe a rant from a grump....but the end result is the same. Marketing goes straight into my burn can and I have no idea who wrote it.

Jerryll Noorden · Answer

Indeed my man.

We all know I am an SEO junkie and I hate ANYTHING and EVERYTHING paid marketing... HOWEVER...

you have to do something to get lead sin immediately right? For this PPC and FB ads are the choice.

So now let me ask you this

If I told you that PPC would cost you $27K/month... would you do it?

Would you call it "expensive"?

Well the correct answer is: "well that depends... how much is my return".. right?

That is my point.

It being expensive, is an illusion.

If I spend $30K a month but I make $150K a month, you would jump on this right?

See, what you do, before anything else is figure out the cost/deal.

Once you have the cost per deal you know exactly how much you will spend before you make a deal. Let's say that number is $4K. you also know that the average deal profits you let's say  $16K. So you have a 30% ROI.

Not too shabby right?

Look at my numbers.

I spend about $12K on facebook ads for my SEO business, and we make about $150K/month. $12K/month is a lot of money right? But do you seriously think I am afraid to spend that money? HECK NO. I love it. Why? Because every $1000 I spend I make $11,000! I LOVE spending money!

As long as you do not wing it and are strategic, have a system, and use math.. you should be fine bud!

As for targeting the right people... yeah. Absolutely be smart. Understand the system and tools you are working with and TARGET THE RIGHT AUDIENCE!!!

Ismael Mathurin · Answer

@Jerryll Noorden

I get what you are saying, in regards to people may not wanting to go through mail.

You mentioned PPC, what's the best way to start doing that? I always thought those were expensive to do, or worrying about getting the wrong person to set it up for me. I am open to learning about it, and see how I can implement it to get more leads.

Jerryll Noorden · Answer

I don't think now (or ever) is the best time to send DMM.

People are cautious opening letters or touching anything that has been touched and travveled around the state.

See DMM is instant. I don''t think people are very interested in selling now. They are bunkering down and staying put. They have far more better things to do than fiddle with spam mail. Yes I understand that people may safe the cards. Usually with DMM they definitely do. BUT this is not usually.

This is the time to build your internet presence. Work on SEO. And PPC is FAR more effective right now than DMM (well in all  honesty, PPC has ALWAYS been more effective).

Now is a good time to try something new

Ismael Mathurin · Answer

I was able to send out some direct mail letters last week. I think this might be a  good time to send out mailing if you're able too. Make your envelopes stands out, ( I see people adding stickers to their envelopes, or getting Thank you cards,etc etc) and increase your chances of getting them open.

Who is pausing their off-market direct mail system right now?

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