Letters vs. Postcards

Originally Posted by realtor Which do you think is a better strategy for getting new business sending a monthly newsletter or postcards?

Realtor,

I would send out a short direct mail letter to "sell" a free report "11 critical mistakes people make when buying acreage in South Illinois." (a problem-based title your niche struggles with)

I would prepare a letter sequence of 3-5 letters top maximise response rates.

Then I would stay in touch with them with a newsletter, blog, podcast, etc.

And I wouldn't push them. When they're ready to buy, they come to you. Many realtors push people to advance the sales, which often scare people away.

And I would direct people to download the report from my website. But not the typical realtor website that scream, "Look at my cute picture and nice listings." A website full of valuable "how to..." information.

I would stay away from post cards because they are too small to carry anything valuable. And sales pitches get thrown away pretty quickly.

The key is that client acquisition ought to be a multi-step process. Just like good dating. It takes a bit of time from the first meeting to the first kiss and well... to the first bonk.

And rushing it would be unwise and wasteful.

Thoughts?

Originally Posted by Tabetha16 When doing your marketing research keep in mind your response rate on a static direct mailing piece is about 2%, when you use variable data- such as the persons name, a picture or something that grabs the readers attention- you can increase your respose rate up to 30%. Your initial investment might be the same or higher but the ROI is always greater on a personalized piece!

30% sounds better than 2%. What are some of the better ways to personalize the mail piece?

I agree with Bald Dog.

Send a postcard that gives a web address with a free report. Ten Ways to maximize the value of your home.

Those who want that report are people who might be thinking of selling.

You now have their name and email address. They provide this when they download the report.

Susan

Originally Posted by realtor 30% sounds better than 2%. What are some of the better ways to personalize the mail piece?

You may consider multiple waves of mail. Each wave focusing on a specific niche or subset of your target. Each niche or subset having a specific sales approach which should appeal to them.

Your data can get very specific by using some simple selects or some more specific directed demographic data.

Regards,

Lance Best

Originally Posted by Lance_Best You may consider multiple waves of mail. Each wave focusing on a specific niche or subset of your target. Each niche or subset having a specific sales approach which should appeal to them.

Hi Lance,

For the first read it sounds to me that in every letter we try to sell something different by addressing different issues the market is facing.

Am I misunderstanding something?

BD

Originally Posted by Bald Dog Hi Lance, For the first read it sounds to me that in every letter we try to sell something different by addressing different issues the market is facing. Am I misunderstanding something? BD

Bald:

I've been enjoying your posts, thanks for being a member, I love interacting with everyone!

The wonderfully thing about sales data is the ability to become intimately familiar with your market. When you isolate your market or niche target you can break that further into subsets.

When you break out your subsets you'll define their motivators. For example, say your a mortgage broker; your target market is people who can benefit from a refinance. You may break your subsets out of the Refinance target.

You'll design a flier, letter, or other mail piece which speaks to their specific needs and concerns.

Your markets in refinance (this is a broad example) may be people who have equity in their home, but who are in credit/debt trouble, and people who have equity in their homes and have lived in it for greater than 10 years. These people will have specific different needs.

If we name each group for simplicity we'd call them the young debtors, and the mid-career fixers.

For your first wave you'd mail the young debtors, your piece would focus on using your home to bring you out of debt, the simplicity of the transaction and would provide a phone number to discuss with a broker.

Your second wave would target the mid-career fixers, your mailer would discuss using their equity to make upgrades to their home increasing value and comfort of the home. You'd provide information to contact you.

Sales data is very well able to granularly define your markets. The time and research you'll leverage working with a company who understands it will bring you great ROI. Making use of well compiled sales data and working with a consultant/company who knows what they are doing will make ALL the difference!

Regards,

Lance

Great points, Lance. I see now.

Thanks for the explanation.

BD