All Forum Posts by: James Danchus

@James Danchus

Can you give us an idea of your parameters, investing style and target market?

We may be able to give you advice a little more specific to your situation. 

To answer your general question, yes direct marketing works, but it depends. :)

James

Direct Mail has not worked for me. It is a channel (medium) that is too easy to learn (get a list & mail to that list consistently). It "seems" to work if you have the marketing budget, list, and ability to mail higher quantities consistently. I have met investors sending up to 50,000 mailers to 4-5 list combined. As an up and coming Wholesaler, with a limited budget, I was researching marketing strategies and found this video by Gary Vanerchuck. Fromt watching this and other videos of his, I come to the decision to stop this romance with Direct Mail, as well as old school markerting (Driving for Dollars, Door Knocking, paper ads, etc), so that I can try new things (Digital Marketing).

Since I am launching my site in 2 days, I want to know if there are any Wholesalers here who have converted to digital marketing? If so, since the cost of Direct Mail is higher compared to Digital, have folks noticed the arbitrage of the value of the ROI in Digital?

What frequency do you follow up with? Daily? Weekly? Monthly?

@James Danchus,

You might try thinking of these calls as, rather than a chance to make a deal, a chance to make a new friend. If it deal comes out of it, great. If not, you have a new contact, possibly with a common interest.

Hope this helps ...

James Danchus Take this as feedback from someone who has managed teams with heavy phone work:
1.) Set a goal of dials per day. In the beginning it's hard to say "productive conversations" because you're not there. Call it "30 dials" a day to start with.
2.) Decide to do 10 calls at 9 a.m. and 10 calls at 1:00 p.m. Based near the start of your day and after lunch.
3.) Odds are most people won't answer and (in my experience) in takes about 2.5 minutes to dial, ring to voicemail, for you to leave a voicemail, and hit send.
4.) Consequently, if you turn off email and all other distractions it will take you about 30 minutes.
5.) If it takes longer then you've had a conversation, which is the whole point.
6.) You do it at 9 a.m. and 1 p.m to start so you have zero excuses you can make up for yourself. Less about the "most productive time" and more about hitting activity thresholds.
7.) You now only have 10 calls to scatter throughout the day (easy).
8.) Hit your goal for 1 week and then increase it by one new outbound call a day. It's only an additional 2.5 minutes so it's simple.
9.) Once you establish the "muscle memory" you can pick different one-hour blocks and test for efficacy.
Hope this helps.

Do you plan on renting to own it or are you wanting to find a tenant/buyer to wholesale/assign it to?