StarDate: Wednesday, April 9 – Yellow letters vs. postcards
Well I have not written in a while.
Last I declared war on yellow letters. And believe it or not I was right. Yellow letters are absolutely worthless, stupid, a lot of work and most importantly illogical.
To recap, why would anyone sell their house to some dude that wrote them a sloppy yellow letter that obviously tried to trick you into opening the letter. Letter is personally written? Sure, very nice, but that is not going to make me choose you over some company that seemingly has the funds to buy my house in cash and represents himself in high regards, professionally and neatly. But bla bla bla, anyone can throw words around.
So everyone claims they know how to evaluate a hypothesis. But you have to do this part right.
If you correlate the cost of a yellow letter with the % callbacks you get a high number. Yes! I agree. Does that mean the YL are better? *& No!
Response rate is a parameter that does not tell me anything. 9 out of the 10 that respond called to yell at me. That 1 out of 10 that didn’t yell, was very obviously annoyed but willing to see what it was about and if I was real.
So to make it meaningful, correlate the cost of the yellow letters with the number of motivated “you are the solution to my housing problem” kind of call.
So the real update is that I switched to postcards. I sent out a whopping 4.5K post cards determined to make one stinking deal! So how did I do? I had to sent 4565 post cards to get about 68 return calls. About 80% of these calls were friendly and about 30 of them were really motivated. So after the correlation and math, it is clear to see the postcards are cheaper, easier, more effective and have a .. yes.. WAY HIGHER (motivated) RESPONSE RATE.
There you have it.
Stay with your YL, and deal with crap and drama. As for me I rather close deals.