Okay, I’ve got a great follow-up email today. I just wrote about the 5 things you should be doing when it comes to direct mail.
And now… you guessed it…
The 5 things you should NOT be doing with DM.
#1: DON’T do what everyone else is doing.
So, at one time, I remember that every investor on the planet was sending the third notice postcard. Thing is, that used to work, but as more and more people started using that handwritten postcard, the less effective it was. Investors had just oversaturated the markets with it.
You just gotta change it up.
And the list that’s super competitive right now: absentee owners who bought over 10 years ago who have a lot of equity. Don’t mail to that list.
Just check out what everyone else is doing and do something different! Change it up, mix it up.
#2: DON’T only mail 1 time.
You have to reach out to the same seller repeatedly. One letter or postcard is never enough. Ever.
You might hear from a lead on the 3rd or 4th letter, but research shows that typically deals come through from the 7th touch. Letter #7!
Use specialty or hard-to-find lists like:
- code violations
- Tax delinquents…
And mail them every 1 or 2 weeks for at least 3 months.
#3: DON’T let your calls go to voicemail.
This is a HUGE no-no! DM leads are valuable… answer your phone live!
If you happen to miss it — call them right back asap… because they’re already going to be calling the next investor they heard from since you didn’t answer.
And, if you can’t answer your phone live, hire an assistant to do it or get PATLive or a service called Answering Service.com.
Answer your dang phone!
#4: DON’T believe the lie that direct mail is dead.
DM is not dead. It’s alive and active.
So… DO IT!
#5: DON’T get discouraged.
Sure, it’s hard not to get discouraged. DM is an investment and returns vary. But it does work…
So, what if you don’t have a lot of marketing funds?
- Focus on the specialty and hard-to-get lists.
- Focus on a few ZIP codes and commit to mailing as many times as you can.
- Hand write the letters yourself.
- Find a partner who does have money: They pay for the marketing and you take the lead calls and work those leads.
Look, when you combine my Dos and Don’ts of direct mail, you will do well with DM. So get to it.