All Forum Posts by: Ranny BBloch

@Eddie Atkinson

From the research I did online the avg. response rate for investors direct mail is around 1%. That fits the statistics from your first round of mail. The second round sounds a bit low for a follow up email but a decrease is to be expected because the most interested prospects already got back to you in the last round. 

You can try to acquire phone numbers for the list and attempt calling them up or getting their emails and sending a drip email campaign (which is also a lot cheaper) and see how the response rates compare to direct mail. 

Also if you call the list you can try to understand what state of mind they are in and re-model your message accordingly. 

Good luck!  

@Al Amaro

Hey Al ,

Sounds like a solid marketing plan! 

2 options you might consider : 

1. Email marketing

2. Cold calling 

What you can try to do is take one of your direct mail lists and try to get emails and/or phone numbers for them.

Than either email or call , keep track of the numbers and calculate your ROI VS your direct mail campaigns and all other campaigns.

It might be worthwhile to incorporate these methods as well, especially because email campaigns are practically free. 

I am always for testing and optimizing according to ROI. I know direct marketing is the most common practice but at the end of the day there are cheaper ways to get the same message across.

Good luck

@Michael Miele

Have you considered trying email instead of direct mail? 

Getting the emails is not that difficult if you have home addresses.

Email costs barely nothing and research I have been reading suggests response rates are even higher with email. So you might be able to save those 2000$ a month and get the same results.

@Victor Vazquez

Hey Victor, 

I know its less common but both cold calling and emailing are great alternatives. I believe in trying out as many options and methods as possible, especially if they are relatively inexpensive to try. As for getting the information, there are many data companies that offer data services like Mellisa data, TLO and more. If you already have a list of names and addresses from Listsource or another provider you can use data append products which will just add the information you want to your existing list.

Hey Brian, 

I have no experience in cold for this specific purpose but I did run a call center for a while so I can offer some tips: 

1. Stick to the script.

2. Keep the script short and to the point

3. A/B test 2 different versions 

4. Prepare thought out answers to questions and objections the homeowners might have

5. Slow down, enunciate & speak loudly. 

6. Your first introduction sentence is key..give it some careful thought and nail it.

Good luck! 

Hi @Doris Logan ,

I am sure some services so offer emails as well but most don't.

What you can do is go to a data provider and have the emails or phones added to your list.

Feel free to PM me for more info.

Good luck! 

@Randall Wall

I haven't personally used any but I know Rebogateway, property radar and RealQuest are competitors. Not sure which areas they cover. 

Have you tried other methods besides direct mail? I read a study that shows email campaigns get the same response rates and are practically free to execute. 

Also I know some investors that reach out to such volumes try cold calling Via some kind of call center or SDRs. 

Just wonder if you tried these methods as well and if so what where the results.

@Tristan S.

I have recently heard some great feedback from several investors experimenting with emailing and cold calling.

Both have their limitations but are substantially cheaper and generally more flexible.

I think marketing is all about trial and error, so I'll always try anything once.

Good luck with your campaign! 

@Mike Anders

Hey Mike, 

I don't know if you already solved the issue,

There are many people search providers you can get phone numbers from . 

Some are free but you will usually get only landlines.

Some  have a monthly subscription, prices range from 5$ - 20$ for phone numbers.

Some of the sites allow unlimited searches and some are limited to a number of searches.

If you have a big list you might prefer data append services where you would upload a list and get all the phone numbers added to your list at once.

If you would like more info feel free to PM me.

@Richard Diaz

Hi, 

There are many free sites if you are willing to search 1 by 1. There are 2 problems with these free searches: 

1. Data quality- many services out there have outdated information

2. Free searches usually only yield land lines.

Paid data providers either have a subscription model for 1 by 1 search or file append products.

Feel free to PM me if interested in some more detailed advice .