Justin,
Congratulations on starting your first direct mail campaign! Direct mail is one of the cheapest and most effective ways to contact motivated sellers. I shall try and answer your questions in order with the best of my ability.
1. You definitely need a return address so you can eliminate bad addresses, and mail the owners of vacant properties that you get yellow letters back from. We use our business address and after many direct mail campaigns have not had an angry person show up at our office. I would still advise not to use your home address, and if this is all you have, then go for the PO box.
2. You should definitely think about investing in a good call tracking system. We use Dynamic Interactive personally which helps set-up tracking phone numbers and it records all incoming calls. There are other companies out there that provide similar services so be sure to do your research. However, be careful because depending on what states your getting calls from you may need to have a disclaimer that the conversation is being recorded. In some states it is illegal to record phone conversations with out both parties consent. In terms of keeping leads organized and setting appointments, I would recommend a good CRM like SalesForce (PropertyBase). Its a good way to keep information on multiple properties organized and it is nice because you can export reports in excel format.
3. I have found that pink envelopes are a little more effective because the people who receive them are especially curious. Therefore, there is a higher likely hood that they open it and call us back. I have not really experimented with other colors other than pink and white, however I am sure any color will have a similar effect as a pink envelope would.
4. I do not believe there is much difference between first class and standard other than price. Also the time it takes for the mail to get there obviously.
5. I have heard competitors who draw pictures on the envelopes or letters. I have also heard people spraying the envelope with perfume to get the recipient thinking its from an individual and not a mass mailer. You can also try and include a flyer with a coupon or a "call to action" phrase. You can also try and write urgent on the front or important notice.
I think the criteria for the people you are mailing to is good. However, if your only doing 500 a month maybe up it to 50%+ or 75%+ equity. That way you are sure to get the juiciest leads. Also make sure you are getting good data and list providers. I have ordered lists from multiple different sources and there is a definitive difference in data quality. I hope this helps and good luck on your mailers!
Rob Laird
