Direct Mail Marketing For My First Deal
Capt’n’s Log – February 7, 2016: You have to spend money to make money!
Direct Mail Marketing for my first deal was crazy scary.. I never marketed before, I had no idea what I was doing. Marketing itself but spending money on it. As many of you that are starting out probably do not have a lot of money to spend I am sure you feel it too. Marketing just feels like burning money because the return of investment is not immediate and heck it is not even guaranteed. Unlike buying a big-ass TV you can immediately enjoy, the thought of forking over $3,000.00 just on some stamps and paper, really goes against the grain of my common sense fibers. But you have to do it. My advice is, do marketing sooner than later. I wish I did it sooner. The longer you wait for the more money you will throw away on rent, bills, food, etc. etc. Market hard market fast!
Time To Get Real: Marketing For Leads Via Direct Mail Marketing.
The dreaded moment has come. Spending money! I have been focusing on marketing, and now have about 200 handwritten letters and I added a secret weapon to the letters. I have done about 120 (in 3 days), and I found someone that is willing to hand-write a letter, place it in an envelope, add my secret weapon, place a stamp on the envelope and mail it in, for 30 cents/ letter!! She performs at a record speed too, about 50 a day. I will share the secret after I see what the response rate is. People have said that their letters get about a 1% return rate.
Ahh The Gurus.
All the gurus swear by 5%-15%… so …. what?! Where is the discrepancy?! But now I need to stop because I still need to do a bit of practice on finding the ARV of a house. So for today, I have a few tasks I want to do.
My Next Tasks To Do
- Do a few property analysis
- Watch some videos on proper ARV estimating.
- Finding a closing agent, escrow title because tomorrow I REALLY want to send out the letters so I need to be ready if someone calls.
- I want to create some postcards.
- Go over some scripts if the phone rings.
- I need to play with CRM. I think I have Podio but I have no clue how to use it.
- I need to organize leads if they come in, and track my marketing.
- Will to do a bit more SEO on my site.
The thing is I need to have more lines in the water. I have my letters going out soon. But that is not enough. I want to put out bandit signs (not sure if it is legal, need to find out). Most likely I am not going to do this. It looks sloppy and I can’t imagine a company that does this to come across as credible. I do not see “Nike” put bandit signs out on the street to sell their shoes.. do you? Nahhh. I will take this back. No Bandit signs for me!
I need to bring my website higher on the ranking list.
This is FREE marketing and after writing the letters and paying a heap load of money for these lists I need to look into the less expensive ways of marketing. If I can score myself just one deal I do not care. I will dump all the money back into marketing. But I need this one deal first.
I am not ready to send out the postcards, but I have to stop drawing it out.
I should have started with marketing long ago, and I just don’t know why I didn’t. I just didn’t feel I was there yet. Till I just did it and now in retrospect, I beat myself up why I didn’t just do it as I did now.
Do any Cash buyers want to join my list?