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Letters vs. Postcards

Which do you think is a better strategy for getting new business sending a monthly newsletter or postcards? - by realtor
Which do you think is a better strategy for getting new business sending a monthly newsletter or postcards?
Are you asking a rhetorical question or a real question about your own situation? If it's a real question, then I think it would be important to ask who you would be receiving the postcard or newsletter before I would answer. - by Skip Anderson
I'm trying to get real estate listings so I send out postcards once a month to different subdivisions. The results aren't that good and I wondered if a letter or newsletter would be a better strategy. - by realtor
I'm trying to get real estate listings so I send out postcards once a month to different subdivisions. The results aren't that good and I wondered if a letter or newsletter would be a better strategy.
Okay, got it, thanks.

Who do you or would you send these postcards/letters/newsletters to? Random? A certain neighborhood? A certain demographic? Is it a one time mailing? I'm just trying to get a feel for your marketing concept because that might be just as important as the decision about what the particular piece should look like. - by Skip Anderson
Okay, got it, thanks.

Who do you or would you send these postcards/letters/newsletters to? Random? A certain neighborhood? A certain demographic? Is it a one time mailing? I'm just trying to get a feel for your marketing concept because that might be just as important as the decision about what the particular piece should look like.
I send everyone in the subdivisions something once a month and I send any home for sale by owner something once a week. I only send mail to a few subdivisions that I thought would be good markets based on turnaround rates, home values and competition. - by realtor
I send everyone in the subdivisions something once a month and I send any home for sale by owner something once a week. I only send mail to a few subdivisions that I thought would be good markets based on turnaround rates, home values and competition.
That makes sense to me. I'm more of a sales guy than a marketing guy and there are lots of better marketing people than me that post here, so maybe others could offer an opinion to you. But here's my opinion:

I think for long term marketing (the once per month piece) you're better off with a newsletter especially if you can make it fun to read and informative since lots of people you will be reaching are not selling their homes at the time they would read it.

For the fsbo people, I think postcards are okay but a letter would be better. What's most important is the copy on the postcard or letter.

The best to you! - by Skip Anderson
Realtor I was told that sales letters almost always have better conversion rates than postcards. - by Thomas
Realtor I was told that sales letters almost always have better conversion rates than postcards.
Was there a reason why the letters convert better? - by realtor
I would guess that letters convert better because they are opened more.

However, if designed properly your mailers will convert well to. Also, a major player which is often forgotten is that the recipient must be interested in your product/service.

Using targeted data verses using a saturation of a zip code will prove more valuable if it's conducive with your service/product!

There are many specifics at play with marketing, one blanket approach will not work. Research your market and industry before making any decisions!

Lance - by Lance_Best
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! - by Tabetha16
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? - by Bald Dog
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? - by realtor
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 - by susana
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 - 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 - 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 - by Lance_Best
Great points, Lance. I see now.

Thanks for the explanation.

BD - by Bald Dog
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