Have you ever heard that it takes an average of 7 contacts with a lead before you get through to them? I have no idea if that is actually true, but I’ve heard it so often that I tend to believe. My personality is that I don’t want to bother or annoy people and sending out 7 mailers to someone would seem to be doing just that. How many of you feel the same way? and has it stopped you from repeatedly mailing your leads?
I re-mail my out of state leads every 3 months. So if you do the math, it’ll take me about 2 years to complete my contacts with a specific owner. If they haven’t responded in 2 years then they are probably in a pretty good spot and are not interested in selling at all. Hopefully they keep one of my letters in case they do ever need to sell.
As of yet I’ve only been through 2 rounds of mailings for a specific lead. I send an initial letter asking the lead to call me if they are interested in selling their house. My follow up letter refers to the first letter and tells them to call. For the 3rd contact I am not quite sure what to send out. Here are some thoughts….
- A postcard
- A third letter. This third letter would be a bit more direct in that I’ll mention reason’s why they should sell to me
- A third letter. This letter would just remind them I’m still interested
- A third letter. This letter would have some sort of ultimatum like – if you don’t call soon I may not be able to buy this time next month
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I’m thinking postcards. They are so much easier and will get their attention immediately, as long as they are bright yellow and larger than 4×6. I’m a believer in changing things up as well.
We have an old insurance agent that keeps mailing us postcards. She’s mailed out dozens over the past 5 or more years. Each time we get one, I think “is she ever going to give up?” But, I don’t ever even slightly consider calling and seeing what kind of deal we can get…..because the message is always the same. It just gets sort of annoying.
I like the idea of changing things up and think a postcard is a good way to go since I’ve already have sent them 2 letters.
Hey Scott –
I have to disagree with you my friend. Absentee owners tend to get more motivated over time.
Typically they are renting the home and it takes them a while to get “fed up” with being an out of town property owner. I just closed a house on July 22nd that involved direct mail and an absentee owner. I knew I had been mailing to this fellow for a while, but it wasn’t until he called me that I looked him up in my database. I sent his first letter in May of 2008. He had a relative living in the house that finally didn’t pay him for almost a year before he decided to sell. I had a 13K payday so it was well worth the mailings.
I have just sent in another contract to a bank from one of my absentee owners. Same story. I started mailing him in the spring of 2008. He has a long term tenant the house. He financial situation changed dramatically (he’s a dentist) and now finds himself in foreclosure and he must sell the house now.
With time, circumstances change for those folks. Keep those letters going!
I do not disagree with you, my only concern is that I’m on a budget and if I never stop mailing leads I’ll blow through my budget at some point. know what I mean?
How often do you spread out the mailings after say the first year?
I like the idea of sending out different mailings. I’ve only just started mailing myself. My plan is to start with a simple informal yellow letter – “I want to buy your house” kind of thing. Then switch to a more formal letter with company letterhead. Then use a postcard. Then another informal letter referring to the previous one. Then just cycle between the informal, postcard, and formal.
That’s a pretty good plan. One time I’d like to come up with something very unique that will get noticed. Not sure what just yet, but I’m gonna have to think about it.
I had mailed half my list every month for a long time. So each person was contacted every other month, I am trying something new now. I am mailing the entire list every month. It is more expensive, but I am going to try it for 6 months or so and see if it makes a difference in the leads.If I get even one more deal, it will pay for the mailings for an entire year,
I guess that will help answer the question….What is a good interval to send out direct mail? Let us know how it goes Sharon.
I had been mailing half my list every month for a long time. So each person was contacted every other month,
I am trying something new now. I am mailing the entire list every month and using a postcard (different each month)rather than the letters I used to use. It is more expensive to mail everyone, but I am going to try it for 6 months or so and see if it makes a difference in the leads.If I get even one more deal, it will pay for the mailings for an entire year,
Sorry about that. It posted before I was done.
No problem, you are helping to get my comment count up is all 🙂
If at all possible, once a month is great. Mail at least every other month. If you space them out too far, some other investor will jump in and get your deal when they finally become motivated. Marketers say that it takes between 5-7 contacts before people start to remember you. I have found that folks that anticipate they are going to sell in the future, will actually keep your mail piece at some point. Your continued mailings let them know you are a true professional, not just some “fly by night person”. Hope this helps.
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