All Forum Posts by: Andrew Detwiler

Hi @Taryn Spiller - There is no elixir.  You have to mix it up and touch your audience multiple times.  The rule of thumb is "7 touches" -  That is industry standard on how many times you have to "touch" someone before they buy from you.  Although most investors don't follow that rule for many reasons, it is making a point. Mix it up, send a lot and GoBig..  Can't go fishing without bait.   

Good idea @Josh Caldwell -   Filter your list to those that have higher equity and have bought their home long ago.  Targeting this demographic will result in a more specific response.  GoBig @Enrique Alamo -

@Cody Campbell- Think like an advertising agency.  They have a general demographic, but have to mix mediums to get a response.  Mix it up!  There is no elixir.  We are all a mix bag of nuts and everyone has different sensors.  Some people respond better to letters and some better to postcards. Some hand-written, some with only graphics.  What do you prefer?  I've heard people say every possible thing you can imagine for and against every type of direct mail.... There a many variables to success. Essentially, so you don't go nuts... mix it up and repeat.  You have to GoBig though.  You can't go fishing with one type of lure.

@Lance Carver - Congratulations on making the jump.  Sometimes in life you just have to GoBig. You made the commitment to learning, now just go out and get it! - There is plenty available on this site.  

@Scott Stevenson - Good plan.  BUT, letters are not the only way to get a response. Postcards are cheaper.  BUT, in the end, you should mix it up. Multi-Mediums! -

Hi @Scott Stevenson -  This is a good rule of thumb and merely a suggestion.  Every 1k postcards you send will net 1.5% or 15 calls.  Roughly 5 serious.  That will cost about $470.

You should expect to send about 3-4k before you get something under contract.  

SO, math it out....  3k postcards = 45 calls = 15 serious = $1400 = one contract.   SO, that works out to be about 15-20% of your marketing dollars are spent on direct mail.  (For a 100k loan value home- and you making about 10-12k)

***** This is a good guesstimate from what we've heard for the last 17 years.  It will fluctuate up and down and it has about a zillion factors that will make this go up or down.  BUT, it's good for a Vision Board.  GoBig -  Just start!

It's a numbers game.  Expect 1.5% on postcards and 3-5% on letters.  But, letters are more expensive so generally people send more postcards.  There becomes a matrix that ultimately shows a cross between the two mediums at different expense vs. response levels.  It's a "touch" - "Touch More" is not necessarily defined by the medium of which they using to "touch"

Hi @Cesar Vega - Welcome!  It's addictive.  Congratulations on the first 3! Keep driving, or as I like to say...  "Keep Fishing"

Hi @Michelle Threatt - Excel has a lot of features such as "Text To Columns" - I would investigate first to avoid to much unnecessary work.

Hi @Rhonda Shrum - Whoot Whoot. You took the leap.  Good for you.  Allen is right. It can take time.  Think of it as "Building a relationship"  You can't just go to a BBQ and say "Hi, I'm selling stuff, buy it" - You have to start out by having a conversation and a little sharing...  

Most people send out postcards first to see if they can get about a 1.5% response.  That'd be about 15 calls per 1000 postcards.  It's a good response!  THEN, they'll send another postcard follow up about 2-3 weeks later.  Postcards are cheaper and just as effective.  THEN, they'll mix in stationery or a self mailing letter (no envelope) or a letter.  Remember, no one knows it's a yellow letter until they open it - so, you can send any form of letter. GoBig with your business!