Direct Mail: They say keep mailing, but my metrics disagree...
Hard to squeeze it into the title, but everyone says you gotta keep mailing, at least 6 times. Every DM deal I've done has been in the 1st - 3rd mailing. And about 80% of those have been the very first mailer. My call back percentages trail off into the abyss after a couple mailings. The generally accepted truth of sales is that 80% of your deals are after the 7th touch with the customer/seller, or something to that affect. But my business has not reflected that at all! What gives?
Are the deals more profitable when they call after getting 6 letters? I feel like some of my campaigns are hemorrhaging money with .3% response rate of those wanting to sell after the 3rd mailing.
Interested in what others have experienced in their marketing!
Example: One I recently started had 1.6% calls of people actually wanting to sell on the first mailing, then .3% on the 2nd. Overall response rate (all types of calls) is 1.3%. It's a small list of 300 or so. Why even bother mailing a 4th 5th etc time?
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@Allan Smith I do cold calling instead of direct mail but have experienced the exact same thing. There's no reason to contact someone who already said no, unless it's much later, 6 months at the very least. It's far more effective for me to simply cast a wider net than it is to beat my head on the same rock hoping that the 6th time I do it I won't get a headache!