Posted by admin in A lot of agents are tempted to use mailers as a form of advertising. Unfortunately, in most cases much of the effort and cost is wasted with no return. Here are 5 tips on generating more income from mail.
1. Do not send to the popular and well known neighborhoods. These residents are bombarded with real estate mail along with a ton of other junk mail. Your postcard or letter will likely not even be read!
2. Choose a targeted area that you will send to regularly. You can choose a geographical location or neighborhood based on neighborhood sales prices. By sending to these areas on a regular basis, it will create awareness as they begin to recognize your name. Try to mail out at least once a month with something new or interesting.
3. Send useful mail: Many mailers are boring, unattractive, or don’t even get looked at before they’re tossed in the trash. Make sure your mailers are eye catching and provide value. You can offer free reports, recipes, market updates, and other neighborhood and community information. Don’t forget to also send Just Listed, Just Sold, and open house cards as they will show homeowners you are active in the market. Having a mailer professionally designed may be well worth it if you are not good at designing your own mail materials.
4. Be cost conscious: The price of a direct mail campaign can become quite costly. Be sure to compare rates with various printers and to also discuss paper sizes, weights, and color options in your mail campaign. Keep in mind it is cheaper to mail postcards than a 9 x 14 envelope.
5. Track your progress: Make sure you keep track of where you are mailing to and what responses you receive. If you are consistently sending mail and not seeing any return, you may want to reconsider your direct mail campaign and see what changes could be made to improve your results.
The US Post Office has a lot of information available regarding Direct Mail. To view their resources, click here.
The trick is to keep sending mailers to a specific target with your message made in such a way that it resonates with the receivers of your marketing piece.
Also send out the mails 3 - 7 times with a new message that shows the benefits of the recipients working with before you.
Finally your message should be more about the recipients and how you can provide solutions that will meet their specific needs than your company’s features.
Great suggestions Owen!
I couldn’t agree more with point #1. It’s amazing to see how often agents try to ‘fish in the same pond’. With a little creativity, moving the aim to slightly less fished waters can can help you hit the bullseye.
One thing I am always curious about is frequency. Realistically, how often should these mailers be sent and at what time intervals? I know its all about frequency and reach however I guess the big question is how frequent to maximize your success?
Also, has anyone ever done a mailer that contained a call to action, postage paid business reply card that the prospect would complete and return via mail? If so, did you find that it increased your response rate?
I am not an agent, I am a Solutions Provider (Real Estate Investor) but essentially we all have to market efficiently and effectively to keep getting clients.
In terms of the frequency of mailings to prospects I suggest 4 to 7 messages going to the prospect at specified intervals. (Note your messages should be client benefit driven. Focus in on their needs and how you will find solutions for them)
The amount of letters in the campaign might vary depending on the classification of the recipient. By this I mean if for instance you were mailing to people in Divorce the interval between the letters you send in the campaign will definitely be shorter than that of people who have free and clear properties.
Owen Mcgab Enaohwo’s last blog post..Secret Rent to Own Strategies Tenant Buyers can use to become Home Owners
I think there is a fine balance of too much and not enough for frequency in mailing…once a month is appropriate to me - if you’re mailing more than that, you’d be better off to knock on the door or pick up the phone!
I have done the tear off & mail back in for a reply card…generally I would get maybe 1 back for every 100 sent…it depends what you are offering - mine was done for a free market analysis. If it was a raffle, maybe it would be more enticing to send back, but then it may not be a real lead - It’s important to define your motive - to meet people who will eventually become clients or to find people interested in buying/selling in a few weeks or months.
I like that term for invester Owen - “solutions provider” - I have heard others use that term and for some it is a much better description…Agents and investors both get a lot of negative images unfortunately from the general public and many investors refuse to be nice to agents and vice versa even when they can actually benefit each other if they establish a good relationship.
Thank you both for these great comments!
While I certainly agree that 4-7 times is the accepted norm in direct mail don’t agents have another consideration? People move on average every seven years. Shouldn’t how long a period you mail over be as important as how many pieces you send?
I would think that agents should send for a period of years before moving on to a different area.
Ned Carey
Ned Carey’s last blog post..Price Fixing at Maryland Tax Sales!
I think you have a valid point Ned - I think being consistent in your mailings and to continue over a period of years can be beneficial - it depends largely on what you are sending and the response rate.
First of all, I love the way that this comment box is put to the side of the name fields etc. Very nice and compact. Also, I have to say that point 2 should be heavily relied upon. It could take up to 7 mailings before any good results are realized. However, once your name becomes recognizable and fresh in their mind, you will be the one they call.