Insider Secrets to Using Direct Mail to Grow Your Real Estate Investing Business (Part 4 of 4)
Ok, let’s pick up from last week, where we went over the various types of direct mail you should be sending out. This week, in the 4th and final part of this series, we’ll be going over what you should be saying in your pieces.
Challenge #1 in this game is getting a prospect to simply open your letter. That’s why I like the whole personalized, under-the-radar, hand-written looking, envelope approach. They tend to get opened. (That’s one plus by the way of mailing postcards … no opening necessary!)
Challenge #2? Getting a prospect to read your message and take action, which most of the time means calling you. That’s the only purpose of your direct mail piece – to get prospects to pick up the phone and call you.
Here are the most important elements in your mail piece to get your prospects taking action:
How important are headlines? Check out this example of the power of words, and how a simple ‘tweak’ in a headline can make a profound difference …
Here’s a headline from many years ago that was selling a music correspondence course:
That was the main headline for many, many years … which sold a good number of courses on a consistent basis.
Then one month, the magazine made a mistake and ran the following headline instead:
Did you even catch the difference? It’s not even one word. It’s just one letter … “Puts” vs “Put”.
One word, and certainly just one letter, shouldn’t be a big deal and make any difference at all, right?
That’s what most people think, but incredibly, that simple one letter ‘mistake’ …
increased sales by a whopping 50%!
That’s the amazing power of words … and the critical importance of headlines. In my opinion, headlines are at least 80% responsible for the success or failure of your mail piece.
TIP: Some of the most riveting, attention-getting headlines are written by … Cosmopolitan Magazine! Check out the cover and the headlines next time you’re at the grocery store. I suggest you study them closely … and look for ways you can swipe & deploy and model a headline for your own campaigns.
Your message should be simple, to the point, and “benefits driven”. In other words, your prospect should be able to clearly know within just seconds what’s in it for them.
Many people think that short messages work best in today’s information-laden world, where we’re all bombarded with thousands of marketing messages every single day. My opinion? Yes, short messages can be effective … but so can long ones.
I’m a proponent of both.
There’s no such thing as too long of a message if you’re targeting the right prospect … and you’re hitting all their hot buttons and addressing there needs and wants. There is such a thing as being too boring though.
So which works best in your market … long or short copy? You know the answer, right? Test, test, test.
Anyway, when fishing for motivated sellers, here are the types of benefits you might want to consider mentioning:
Sell Your House in 10 Days or Less
Get Rid of Your Headache Property in 11 Days or Less
Guaranteed Offer Within 48 Hours
Free No-Pressure, No-Obligation Consultation
Instant Mortgage Relief
Get Rid of Landlord Hassles for Good
Call to Action
Every single marketing piece you put out should have some kind of call to action like:
Call Me Now
For a Guaranteed Offer Within 48 Hours, Go Online Now and Fill Out the Simple Form at www.SellYourPropertyFast.com
Call 24 Hours for a Free Recorded Message
Call or Text Me at 555-1212
Call Me Now at _________ For A Free, No-Pressure, No-Obligation Consultation
Just remember, you have to be crystal-clear in telling your prospects what you want them to do next.
Even when you think you have the ultimate winner … you should always be in test mode and trying to beat your ‘control’ piece. That’s how you get higher and higher response rates and totally maximize your marketing dollars.
Split testing is another one of those monster ideas that can have a huge impact in your business. It’s one of the ultimate secrets in direct marketing – I would say right up there with sequential marketing (which we talked about in Part 3).
Think about it …
Let’s say you’re getting a 4% response rate right now, and through testing, you’re able to increase your response to 7%. If you’re mailing 2,000 pieces a month, that 3% bump in response just resulted in 60 more leads!
If you close 2-3 more deals from that extra batch … you just raised your net profits significantly – without having to increase your marketing budget!
Things you might want to test include: paper color, envelope size, headlines (this should be a definite!), different calls to action, envelope color, different content, lumpy mail (putting something in your mailing pieces) vs. non-lumpy mail, etc.
We’ve covered a lot of ground in this 4-part series, so hopefully by now you have a good idea of how to get started with your direct mail campaign.
To tie it all together for you, here’s a quick summary of the 7-step process for getting your direct mail campaign going:
1. Determine your marketing budget.
2. Pick your target market (Absentee Landlords, Probate, NOD’s, etc.).
3. Decide on type of direct mail to send (Yellow Letters, Postcards, etc.).
4. Get mailing list (buy from list broker or compile on your own).
5. Print & mail out your letters or postcards (hire out or do-it-yourself).
6. Answer/return calls or replies promptly.
7. Continue to mail to the list (at least 3 times … perhaps up to 7 times if response continues to be favorable).
So there you have it … that’s all it takes.
Stay consistent with these 7 steps, continually test and tweak different variations, and very quickly … direct mail can turn into the ultimate lead generator that can grow and scale your real estate investing business to heights you never dreamed possible!