One of the most commonly asked questions in real estate investing is…
“How do I get MORE qualified leads?!?!”
Well the answer to that question has many parts, but one of the most important things you can do is take a good hard look at the marketing piece being used, and if your response rate needs a bump…consider testing out something new!
One of the first things I generally tell folks who want to see a bump in their response rates is to try the ”Yellow Letter”. It’s one of my favorite marketing tools.
The Yellow Letter appears to be a hand-written (personable) letter, on yellow “legal pad” paper. When done properly, it’s sent in a smaller than business size envelope with hand written to and from addresses. Ultimately, yellow letters are used because of their high response rate (5%-15% vs. traditional mail of 1%-2%). Both the envelope and the letter play a roll in this high response rate beginning with getting the recipient to open it. This is commonly referred to as “open rate”. The yellow letter has an off the chart open rate.
Make no mistake about it though, I don’t only use yellow letters when I market for sellers. I use a combination of marketing mediums including postcards, letters, flyers, business cards, yellow letters and more!
Why I Love Yellow Letter Marketing…
1. The yellow letter is designed to gain attention. The yellow letter was designed to do one thing, GET ATTENTION, and it does a fantastic job of that. It’s smaller than most pieces of mail, not shaped like a bill, and even looks like an invitation! It’s nearly impossible to get one of these in the mail and not open it!
Take a look…
That envelope looks like anything but a bill or typical junk mail.
2. The response rate can be huge! Because of the increased response rates that many people see when they use yellow letters, you can spend the same amount of money in marketing, but get many more leads in your business.
Let The Numbers Do The Talking…
Now ask yourself…
Would you rather have a 2% or 12% response rate?
Even if it costs 3 times as much to send yellow letters vs. postcards…(which it doesn’t)…you still come out ahead when you consider your cost per response!
Obviously a 12% response rate isn’t guaranteed, as it depends on many factors, but I’ve seen time and again where the response rate is above 10%, 20%, even 30% or more!
**We recently met a student in Charlotte, NC that saw a 28% response rate sending yellow letters to their Vacant House Data Feed Leads using the proprietary, automated “mail manager”.** Click here to try out the Vacant House Data Feed Risk-Free Now.
3. It’s EXTREMELY EASY to implement yellow letters, even if you’ve never sent direct mail before. There are many services out there that will send yellow letters for you, but as you know, I am always trying to make things as easy and affordable as possible for you.
That’s why we’ve integrated yellow letter marketing into iFlip and the Vacant House Data Feed Platforms.
Now you can easily and quickly send out yellow letters by the hundreds, with the click of a button, OR you can choose to do the self-mailer option and save some money by printing and stuffing them yourself. While I don’t think this is the best use of your time, it’s a great project for your kid or grandkid that needs to make a few bucks. 🙂
Pro Tip: Using your business name on the “from” may accidently KILL your response rate. Use your personal name “John Smith” or “The Smiths” on the “from” section of your yellow letters. Stay away from corporate sounding names like “Acme Investment Corp”.
The yellow letter marketing integration with our systems is just another example of our never-ending quest for improvement that you experience as a customer of ours.
If you’re a current subscriber, starting to use yellow letters is easy, just click here to login to your dashboard account and get started.
If you’d like to try out iFlip and the all new yellow letter marketing tool, simply click here to start your no-risk 30 day trial of iFlip for only $1.95 now!