All Forum Posts by: Jake Soper

cold calling paired with direct mail (handwritten letters) sent to a targeted, precise list is a very fruitful method. The great part about direct mail is the leads come to you, you don't have to pay for a VA, or waste time calling yourself.

agreed @Jasson Farrier . Sending a higher quality mail piece that is interesting to the prospect is the best way to get conversions in a hot market. Open Letter Marketing now has some Autopen letters that use real pen handwriting and a forever stamp. Prospects will not be able to tell if it was mass produced or done in house, and the authenticity helps build trust.

That's awesome, thanks for sharing these results. You hit so many points here that investors rarely think about. Points 1-4 are spot on advice for anyone marketing directly to sellers. Dont waste time marketing to properties you would/could never buy. 

Data is king. 

While I wont speak on YLHQ's behalf, Open Letter Marketing is the leader in personalized handwritten letters, and we can easily do all of these functions, while beating their price and service. That's a personal guarantee from me. 

If anyone wants some help with ideas for a mailing campaign, feel free to hit my line. I have templates, lead list type, and mailing strategy to offer.

Hey @Brenden Kanakaole check out Open Letter Marketing. Our pricing is very competitive. I help tons of BiggerPockets members set up successful direct mail campaigns! No obligation, and I can walk you through our products and services if you are interested. just shoot me a call or dm if you want any more info about this.

Specialized direct mail is tried and true, but costly. I have clients that are still pulling multiple deals out of 5k or less postcards.

If budget is tight, ringless VM + SMS are good channels. Just be sure you're compliant. Paid social can be difficult, but powerful if done well.

Cold Calling if you have no budget =) 

Send me a DM  if you need any mailer ideas!

Hey Guys!  feel free to give me a call or email if you want to chat about getting a mailer together. I can answer any questions you have and provide suggestions on templates and wording. @Brandon Rauscher @Matthew Crivelli

Hey @Kevin Herron check out some of the postcard templates we offer at Open Letter Marketing, and give me a call if you want to discuss some custom verbiage. I can work with you to create some specific verbiage for these types of absentee owners.

Thanks for sharing this Scott! Glad to see you lock this one up off market, and you were able to help the seller.

@David Lee Hall, III @Cyle Harris A few years ago I'm told 1-3% was common for DMM. In general for postcards you should expect about a .25-.5%+ . Handwritten letters + specialty mailers tend to generate slightly better response in hot markets. The 1%+ mark is tough to continually achieve, you need excellent data and like you mentioned before, it can take a few mailers before a seller decides to reach out which skews response rates. 

I think that deal rate is a much more important metric, but obviously you need to generate responses to get there. You should be marketing more often to your high quality leads, and less to your low quality. 

For example, say you're sending 5000 streetview postcards to high equity owners, you get 20 responses and 15 of them are junk, 5 legit, ends in 1 deal. But you also sent 1200 handwritten letters to a DFD / tax lien / probate combo list, and only got 6 responses. 3 are junk, 3 legit, ends in 1 deal. The postcards got you more response, but also more junk. The letters were more targeted so less overall response, but more meaningful calls. These example scenarios show the impact of marketing to your high/low quality segments accordingly. I work with successful customers that use each of these strategies.

I suggest going through at least 3-6 touches before moving to another segment or re-evaluating. It's important to be consistent with your marketing because seller motivation doesn't always happen overnight. When the motivation does arise, you want to already have some marketing momentum with your prospects through past mailers/communications. This helps you rise to the top compared to the competition when the seller picks up the phone.

That's awesome! Take matters into your own hands during down time.

  I know it can be daunting to sign + seal that many letters. If you ever want to try a mass marketing product that keeps the integrity of a handwritten/signed letter, check out our new AutoPen letter. It uses forever stamps, and we send them to you ready to mail so you get the local postmark.