One of the most important, and often overlooked, aspects of a successful direct mail marketing campaign is the mailing list. Choosing appropriate filters can make or break your direct mail marketing campaign, and there are several options for creating a highly targeted mailing list.
For example, let’s say you are interested in marketing to the Millennial generation. Life stages for Millennials are not parallel to the distinctive stages of Generation X or even the Baby Boomers. Many are pursuing higher education, and starting their lives beyond academia at much older ages than their parents. A recent article put out by CNBC suggests that the millennials (Generation Y) will be renting for much longer than the generation that came before them, for a wide variety of reasons.
So what does that mean for someone who is in the real estate business? The use of filters for your targeted mailing list is crucial for who you are marketing your services to; and one significant filter could be the owner’s date of birth. Filtering based on dates of birth that steer away from the millennial generation may help you find the right house that you are looking to buy, rent, or sell, simply because the millennial does not own one for you to buy.
We have the capability to use a variety of filters on your targeted mailing list to help with your yellow letter campaign. Some of our more popular options for filters include owner occupied, absentee owned (also known as non-owner occupied properties), notice of default, purchase date, owner date of birth, market value of the property, assessed value, first loan loan origination date, build date, number of bedrooms, square footage, and loan to value. The more targeted leads you have, the more responses your direct mail marketing campaign will generate, and a strategically targeted mailing list may help you win big in a real estate deal.
We all make mistakes, and here are some mistakes to avoid when it comes to your next yellow letter or postcard marketing campaign:
Use the prospect’s name on a letter to personalize it to that individual. The letter could also personalize other things about the individual, including the address of a property the person owns.
Make sure your message will resonate with the people you are targeting. Using appropriate mailing list filters can make it more likely that the recipient will be interested in the message on your mail piece.
3. Lengthy message
The longer your message, the less likely it is that a person will read it. Keep your message concise, and then explain the details when the person calls. For more information on this, read ‘The Call Comes First’
4. Inappropriate colors
You want your yellow letter or postcard to stand out, and you want it to stand out in a good way. There is a time to use bright colors or black envelopes in direct mail marketing, but that time is not when you are marketing to a probate list. For another post on this, click here.
Following the tips above can help make your next marketing campaign more successful, and if you mail your letters in hand addressed envelopes your recipients are almost guaranteed to open your letter. Check out our yellow letter templates to help you get started on a successful marketing campaign.
You’ve done it. You’ve decided to begin marketing with hand-addressed envelopes that have been proven to attain new clients. But now a new challenge stands before you: What do you put in the envelope?
We are in an age of information overload and it is beginning to show. A study conducted by Consumer Insights of Microsoft found that the average adult attention span has shrunk to a mere eight seconds. That means you have roughly eight seconds to make an impact on your potential client. So what should your letter say?
It is tempting to provide as much information as possible. After all, you have invested time and effort into your business and you want that care to be evident to any potential clients. However, a lengthy message may lose the attention of the reader. After all the work you’ve put into preparing your letter, it could be ignored simply because it is too long. Instead, follow these tips to ensure your message is actually read:
• Keep your message concise. Once your client calls, you can explain the finer details.
• Use short, simple words. Your client won’t call if the message is complicated.
• Be mindful of placement. Keep important information (i.e. your phone number) accessible by placing it on a separate line or at the end of a paragraph.
In an age of technology it’s hard to believe that direct mail marketing actually yields a high response rate in comparison to other direct marketing options. Direct mail marketing still works. There are statistics provided by the CMO Council, that show direct mail yielding a higher response rate than email marketing by a large margin. Of course there are many factors that can also be considered when determining the success rate of a direct mail campaign, the size of the mailer, the color, the envelope, the text, etc. What we do know is that direct mail marketing is still successful and still yields a high response rate, especially yellow letters. Here are a few reasons why.
Direct mail is targeted to a specific demographic and more particularly, a specific mailing list. Highly targeted list can be purchased and filtered by counties, zip codes, or cities, and then filtered further to focus on the exact audience to target for success. Where someone lives, how old they are, how long they have lived there and other factors will all influence the response rate of your direct mail campaign.
Yellow letters are particularly successful in direct mail marketing for this reason. They are personalized for each individual, including their name and/or address or city of residency. Yellow letters are created with a hand-written font created from an actual person’s handwriting, so they are friendlier to the eye than your typical white sheet of paper with black typed font. Invitation style envelopes also give yellow letters a unique advantage, it’s a different size and shape than most of the mail you receive and the hand addressed envelopes are prepared by an actual person. These letters stand out from the rest.
In direct mail there are so many different options to fit any budget or audience. While yellow letters yield the highest response rate they are a bit more expensive than postcards. If you’re just getting started or trying to market on a budget there are other options available including postcards, door hangers and greeting cards. There is an abundance of options with letters as well, yellow letters of course, and also a color letterhead letter, a typed letter, and we can add a digital signature to these letters so it appears as though you have signed each one. There is also the option of a wet ink signature so a real person actually signs every letter. There are more colorful and graphic options, or simple and direct options. The world of direct mail marketing is very flexible.
Direct mail marketing is easy to keep track of. There are call forwarding services available to help with the calls. It’s easy to keep track of how many people are calling, how many coupons have been redeemed or how many emails you have received with a specific response to your mail piece. It’s simple.
We don’t all read every email in our inbox; many are deleted before you ever open them. But, we all see every envelope, flyer and postcard in our mailbox. If you see a hand addressed invitation style envelope in your mail box you will almost certainly open it. If your personalized message in that hand addressed envelope is concise and to the point, it will yield a higher response rate. Direct mail is an effective approach; in fact it is more cost effective than email marketing in this age of technology.
While Millennials are beginning to reach an age to be first time homebuyers, the struggle to obtain a mortgage and find a starter home on the market is turning them to renting single family homes. This is great news for investors. In fact the rise of where these homes are being rented may surprise you! Are you looking to target a new area? These cities are where you should start looking. CNBC reports these towns to be the top ten for investors due to single-family property rent rates:
|1. Cape Coral, Ft. Myers, FL
2. Naples, Marco Island, FL
3. Knoxville, TN
4. North Port, Bradenton, Sarasota, FL
5. Shreveport, Bossier City LA
6. Syracuse, NY
7. Milwaukee, Waukesha, West Allis, WI
8. Deltona, Daytona Beach, Ormond Beach, FL
9. New Orleans, Metairie, Kenner LA
10. Charleston, North Charleston, NC
While Florida may not come as a surprise to anyone, places like Knoxville, Syracuse and Milwaukee making the top ten is surprising. It’s also been found that large institutional investors are starting to fall in numbers of properties they’re investing in, which is opening the door for smaller businesses or personal investors to have more of an opportunity at properties. Investing in rental homes is an advantageous choice in this current housing market, until there becomes a sturdy balance in homes for sale and homebuyers.
For the complete CNBC article, click here.
Your yellow letter will not make the sale. At least not by itself. While yellow letters in hand addressed envelopes are a successful marketing tool, that’s all they are. They will get opened, they will be read and you will get called… but then what?
The main focus of your yellow letter campaign is to get your prospective customers to call you, to grab their attention and interest in what you have to offer. One mistake that’s often made is trying to make the sale with your yellow letter. If your letter is too lengthy it’s likely it will be thrown away before it’s completely read and understood. You also may miss out on the chance to connect with prospects on their own personal situation with options to help them specifically. You want to build a relationship with your new client; to try to make a sale too early can be detrimental to your business.
While your logo, your business card, your yellow letter, your call to action may be the start of it, your marketing should be so much more. You want to build that relationship, gain their trust and make them feel comfortable doing business with you. Marketing never stops, and it’s in everything you do. How quickly you respond to emails or messages, the tone of your voice over the phone, the way you carry and present yourself, all of these things can positively or negatively affect your business. Your yellow letter simply begins the process, clients are going to build an association of your business based on you and how you continue to market to them. Keep in mind you are always marketing and that should never stop, the yellow letter just starts the ball rolling for that call to come.
If you have had bad luck with the real estate market recently, then you may want to consider using Yellow Letter Marketing to change your tactics.
Utilizing Yellow Letter Marketing can save you a great deal of money as well as generate leads for your agency. Sending content directly to your potential customers is the best way to gather new leads that will turn your company around.
When agencies take the time to hand-address each yellow letter, it shows care for their potential clients, which translates into future care of homeowners if they sell their homes.
To get started on a yellow letter campaign contact yellowletterscomplete.com.