If your direct mail efforts aren't yielding the results you hoped for what alternative options are there for wholesaling marketing that might be more rewarding?
Some real estate wholesalers (especially the newer ones) have been reporting that they haven't been realizing the results they had hoped for from their direct mail efforts. Others are just recognizing that while they are getting leads, their ROI is far from something to brag about. So has direct mail dried up as a viable marketing channel for wholesaling houses again, or is there something these investors are missing? What alternative methods might be good to substitute with?
The first thing to determine is why you are looking into alternatives. If it is a case of not receiving enough inbound marketing leads or not closing enough deals, why is that? Unless you know why the same issues could continue to haunt you in any other lead generation channels you chase after.
Direct mail still works wonders for wholesaling marketing. In fact, some of the most successful real estate investors say that all that is needed to succeed is to churn out enough mailers each month.
So if yours isn't producing the results you hoped for some questions to ask may include:
· Are you sending out enough mailers each month?
· Is the timing of delivery negatively affecting results?
· Are letters being sent to the best prospects?
· Is list quality a factor?
· Is your mail failing to stand out and get noticed?
· Is the message or presentation failing to resonate and connect?
· How can you better convey the benefits of selling to you?
Many direct mail experts and mail houses recommend sending out minimum batches of 5,000 pieces of mail to conduct sufficient tests. This may not work for every newbie, but volume can certainly be a factor.
However, no matter how much mail you can afford to send as part of your wholesaling marketing campaigns testing is key. Fortunately split testing has never been easier for investors. Consider drafting several versions and using different contact names or toll free numbers to differentiate and track results.
Some investors have posed the question of whether buying online real estate leads is a better way to go. However, savvy marketers and investors know that it isn't about replacing one method with another each month. They find success in maintaining a consistent marketing mix.
For those looking for new wholesaling marketing options 5 to think about include:
1. Google AdWords
2. Facebook Ads
4. In person networking
5. Content marketing through guest blogging