Mailing the List
How often should I mail?
Tranche 1 should be mailed every month, Tranche 2 every 45 or 60 days as you see fit. If your list is less than 15,000, you should mail them every month.
Why mail every month?
Our success is due to identifying the right people and properties, and then being present when life motivates them to take action. We don’t know when mom will go into a nursing home, the financially strapped son will inherit moms home, or when big sister will get tired of her no-rent paying younger brother living at mom and dad’s old house.
Can I mail just a portion of my list?
We strongly suggest that you mail at least your first Tranche monthly. This is a numbers game, and although we can tell you there are diamonds in the bucket, it is not possible to tell you which part of the bucket they will come from. You will more than likely lose money, not save money, by not mailing your first Tranche.
What type of response rate should I expect?
Since our core team is made up of scientists, we provide everyone the same answer without any touch of marketing bravado. In short, we don’t know. Here is what we do know: in Secondary Markets, the response can range from 2% on a first run, to 0.8% on legacy mail. In Southern California, we have long-term clients getting 0.3%, and they are still very profitable.
We can tell you 3 things with confidence about scaling your marketing:
1) Your response rate will go down the more mail you send.
2) Your ROI and conversions will go down the more mail you send.
3) Your income will go up.
I am getting a lot of mail back, is this normal?
It is normal to get mail back. People move, die, ect. and there will always be some percentage of mail that is not deliverable.
You will want to make sure that your mail house is processing your list through NCOA (national change of address). We actually suggest that you skip trace these people with a service like TLO or Accurint since you may be the only person who ends up making them an offer.
Do you have a postcard you recommend?
Short answer, no. That said, we work with many of the largest investors and direct mailers in the country and we do have some strong opinions.
1) Do not drive traffic from a postcard to a site, make them call! This should be obvious, but, the goal is to get them to pick up the phone and call. You get them while they are “hot,” capture their number, get them talking live to a Sales Rep. Otherwise, you drive them to your site, retarget them, and lose the opportunity to capture them while they are in the moment. You basically open the window for a competitor to step in.
It is the difference between a salesman saying, “Can I help you?” or “Are you looking for a Honda Civic today?” Be a good sales person, make them call.
2) Use multiple calls to action. When we say action, we mean your phone number. You should have the phone number at least three different places on your card.
3) Be direct and tell them what you do. We are looking for motivated sellers. Motivation means they don’t care how slick your headline is, they don’t care about how many houses you flipped last year, they care about what you can do for them.
Ultimately, if someone is in the desert and they are thirsty, they don’t care whether the water comes in a paper cup or crystal glass. They just want water. One of the largest SFR investors in the country once said, “There is nothing I’m going to say in a headline that is going to motivate them to sell at the price I want. Only life will do that.”
Should I mail the same postcard over and over again every month?
Again, we believe in frequency and clarity of message. Many of the most successful investors in the country have mailed the exact same piece for years. That said, we believe in testing and we know that response rate will go down after long term mailing of the same piece.
For further advice, we recommend asking the users inside of the Audantic Roundtable Facebook Group.