One of the questions I get the most, “Does direct mail really work?” And my answer to that question: "It depends. On the person." In theory, direct mail does work. But you have to be consistent. And patient. In advertising, it takes about 5-7 times to reach a person before they buy from you. Whether it be from direct mail, on the phone, in person or a combination of all—these are the statistics. So going in, you have to know that.
Key To Direct Mail
When going the route of direct mail, most real estate investors try it for awhile but they aren’t consistent. They may get a few bites here and there. But nothing to talk about. So they try something else and move on. But the key to being successful in direct mail is to consistently mail to a group of motivated sellers. All the time. It could take years before someone on that list buys. Or it could take months. The key is to be focused and consistent.
Who To Send Direct Mail
This leads me to another point: mailing out to the right group of people. You have to get to the motivated sellers. If you’ve got a list (i.e., foreclosure, evictions, etc.), that’s great. For example, my blogging pal, Sharon Vornholt , has been very successful using direct mail targeting probate leads.
But you can also farm an area and send out your direct mail pieces that way. This is one of my preferred methods.
How Did Direct Mail Work For Me?
When I first started out in mobile home investing, I tried direct mail for awhile. I targeted parks I wanted to work in and sent mail pieces directly to homeowners. Though I did get mixed results. Most who called just wanted me to come to their homes to give them a value of it…...they were responding out of curiosity.
Honestly, direct mail has never been my forte. I should have known that going in. I tried it for awhile in the beginning of my real estate investing career , but it didn’t work out. I even hired people to do the work for me. But that didn’t pan out either.
Direct Mail was too much work…for me. Personally, I don’t enjoy admin work. So I never did a deal from it.
In the end, it all boils down to who you are. When it comes to real estate investing, there isn’t just one formula for success. There are many. Each person is unique. What works for one person may not necessarily work for you. And vice versa.
Direct Mail Services
If you’re interested in doing direct mail, you may want to check out YellowLetters.com. Here they’ll provide you with many different direct mail and marketing pieces to help you with your real estate investing business. From bandit signs, to business cards, to postcards, to direct mail letters—they handle it all.
They customize your order for you. So they can put together mail pieces that look handwritten. Without you have to write it out (which is what I did when I first started out. Oh I remember my hand hurting so much!)
Direct Mail Success
As a final note, I’ve had readers who have been successful using direct mail for their mobile home investing business. Whether it be homes in parks or out on land, they’ve been able to do deals by mailing consistently. To the same group of mobile home sellers. So it does work. Again, it all depends on you. I hope this “Marketing 101″ post has helped. I’ll be sure to come up with more down the road.