Mastering the Art of the Follow Up in Real Estate Investing Direct Mail05.14.2019
Are you unhappy with your response rates?
You sent out a boat load of post cards but hardly got a response. Yet so many investors and wholesalers swear by using direct mail.
The Data & Marketing Association reveals that 42.2% of direct mail recipients go through the materials you send. Only 22.8 say they don’t read it at all.
What’s the problem? You want to learn the secret? Yes?
Then read on…
Leads are vital for any success in any business. But they can be like unruly ADHD children who need constant attention to stay on track.
To get your leads to response… you need to master the follow up.
You need to nudge them gently. Consistently. Strategically.
Nurture them the right way, you you’ll reap real rewards.
How to Nurture Your Leads the Right Way
Many businesses fail to effectively nurture their leads because they treat all leads as equal and use “one size fits all” approach.
But just like individuals vary, your lead type also greatly varies.
In real estate investing and wholesaling, we have classified leads into 3 broad categories.
Each category needs a specific follow up campaign to enhance the response.
Let me walk you through these different follow up techniques we suggest:
- Forced, but not urgent
- ‘Not forced, and not urgent’
- ‘Urgent and forced’
Forced But Not Urgent
This is a high value lead category albeit the one that takes long time to warm up before they take the desired action. Let’s say a typical lead such as tax delinquency, divorce or probate lead. They are under mild pressure with no urgency and therefore, patience is the key here. Dropping them an email once a month for at least 3 to 6 months will warm them up, grab their attention and nudge them to take the desired action.
Forced and Urgent
Notice of default leads comprise of leads in “Forced and Urgent” category. A regular weekly or fortnightly follow up for at least a month will do the trick.
Not Forced, but not urgent
Absentee owners belong to this lead type. These leads should be followed up for 3 months, sending them one email per month.
Identify your lead category
Once you have an insight on the type of lead categories, you need to ask yourself, what is the lead category that you are marketing to? The answer to this question will tell you broadly the type of your marketing campaign.
So, once you have bagged high quality leads, right follow up marketing strategy can give you massive returns with minimal efforts. Within these 3 broad lead categories, there are several small sub categories which can be targeted with laser precision with a tailor made strategy for your particular kind of leads.
We can assist you with a tailor made follow up strategy. Call us now for a personal meeting. Or visit us here!
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