Marketing Plan Analysis

[Ben Roberts]

I've been talking to friends and relatives, even co-workers and acquaintances.  I've mailed some yellow letters and post cards.  I've got a web-site, business cards, and UPS Store PMB.  I've done 3 assignment deals thanks to just dumb luck.  (The harder I work, the luckier I get)  So far they have been relatively quick and easy. Uncomplicated.  I like that but I'm open to other ideas.

I'm putting together a plan for the next 4 months.  I've got roughly $3K in cash and $6K in available credit from CapitalOne.  I want to hit 1000 via direct mail.  I'm looking at a list of out of town owners, with at least %40 equity, in 2  of the hottest Memphis zip codes.  The plan looks like this:

Month 1: 1000 small, text only postcards.  est. cost$500

3 Weeks later: 1000 yellow letters. est cost $525

3 Weeks later: 1000 larger, text only postcards est. cost $560

3 Weeks later: 1000 professional business letters est. cost $570

3 Weeks later: 1000 Holiday type greeting card est. cost $1,000 (This will be Mid December)

3 Weeks later: 1000 'Official' looking zip letters est. cost $925

Do these numbers make sense?  

My typical response rate from yellow letters is around %12 but mostly unmotivated sellers.  I'm hoping that the response rate will drop but that the quality of my leads will pick up.  Is this reasonable?

How often should I be touching these people AFTER the initial campaign? once per month? every 3 weeks still?

Any other advice, critique, criticism, or comment would be welcome and greatly appreciated. Thanks in advance.

[Steve Bracero]

@Ben Roberts

This seems very detailed! 12% is very high for yellow letters and an excellent response rate 

Where did you get your list? List source? 

Do you plan on getting all the mailings done from an outside source such as yellow letters or click 2 mail?

How will you track your leads? Do you plan on talking to the sellers yourself or have a service answer your calls?

Every 3 weeks seems very aggressive but this is your own call. I would try every 4-6 weeks. 

First class postage? If so I believe it takes between 3-30 days to reach your owners. If everyday stamps, takes 2-4 days depending on location 

Do you mean follow up after you talk with them? Ask them on the phone or ask if it is ok to follow up in a month etc. 

  6 touches seems good, I read a stat that 83% of deals come after the 5th mailing