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The distinguishing factor of a neutral letter is that it is more generic in nature compared to a blind offer.Ī neutral letter lets people know you’re a real estate investor and that you’re interested in purchasing their property but directs them to get in touch with you prior to you sending them an offer.
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One of the more common forms of neutral letters in real estate is the iconic yellow letter, which is either handwritten or has a handwritten font, on a piece of paper that looks like it was ripped off of a yellow legal pad. They can be very professional, written on letterhead, or they can be very personal, like a hand-written thank you note on a yellow sheet of paper (and anywhere in between). Neutral letters come in many different forms. In my experience, there are three primary methods of direct mail that work well for real estate investing:Įach option has its own set of pros and cons, so my goal is to provide an overview of each, helping you decide which one works best for your unique situation. When you’re just getting started with direct mail, deciding what kind of campaign you want to do can be pretty overwhelming, so I want to help you sort through the noise and come up with some good options. In this case, doing something like a video card campaign might be more efficient because it would likely yield a higher conversion rate compared to postcards. Say I wanted to send out a campaign to my small town of 30,000 people looking for commercial multifamily and there were only 100 addresses that met my criteria. Now, where a video card campaign might be more beneficial is if your list is small and your goal is to optimize your results. Of course, all this depends on what type of real estate investing you do and what the nuances of your industry are, but generally speaking, I’ve found this to be the case for what I do, in my business.
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On the other hand, postcards (by the sheer fact that they are so cheap) will allow you to send out far more units of mail. With a video card, you’ll typically get a higher response rate because it’s such an unusual type of mail piece… but they cost upwards of $30 per piece, so $3,000 worth of video cards will only cover about 300 properties. Suppose with your budget, you could only afford to send out 300 video cards but with postcards, you could send out 3,000. Let’s say we have a marketing budget of $1,500 per month and we want to compare a video card campaign to a postcard campaign. The problem is – when it comes to marketing, the law of diminishing returns comes into play.įor example, if we consider a video card (where the recipient opens a card that automatically plays a marketing video), this can be very powerful and have a high conversion rate, but the cost for that high conversion rate might not justify it. When it comes to direct mail marketing for real estate investors, there are a lot of options to choose from.ĭirect mail can be as creative as you want it to be – I’ve seen everything from hot pink postcards to video cards to full-on gift baskets.