Re: Postcards vs Envelopes - Posted by Kristine-CA
Posted by Kristine-CA on July 04, 2003 at 16:04:21:
Brian: getting the mail opened does not make anyone’s marketing successful. Response rate is what determines success. I’m at about 5-20% response rate, depending on the type of mailing. Which I think is pretty good. The lowest rate came from a relatively untargeted mailing to out-of-town owners. I used labels from the title company and a handwritten return address. The letter was generic. I got over 50 calls from 1500 letters. Over 100 letters were bad addresses. I did one ok flip out of that.
I mostly focus on abandoned/vacant and probate probate properties. Those are smaller, specific mailings of 20-100. I’ve sent out 50 letters and gotten 10 calls within days. But that doesn’t make my marketing succesful. Lots of people call because they are shopping around or they think God has sent them a miracle and that I’ll be offering them 100K for that little old junker in Central CA that they haven’t dealt with in years. They are more than bummed when I offer them 10K. Some of them call back later though.
I don’t know too many people that wouldn’t be curious enough to open hand-addressed mail from return addresses with the name Poe from Santa Barbara. Of course, if they get a repeat mailing from me, then they’re on to me and they can throw it away. A number of people call and ask why I am investing in their area if I live in a different area. More than a couple of people have been so bold as to tell me that I must have a lot of money (!?) because of my return address.
I’m not having trouble getting the phone to ring. What I am more concerned about is being able to negotiate more deals from the calls I do get.