REIs targeting homeowners with direct mail is the name of the game, right?
But which list is best? Which list is oversaturated? Which list is ripe with highly qualified leads eager to sell low?
Check out these case studies to see for yourself what other REIs have done with great success, and you might just find yourself inspired…
1. An absentee homeowners and landlords list generated 4 deals and $60,000 in revenue
An investor mailed a simple postcard design to a mailing list comprised of these demographics:
- Non-owner-occupied properties
- Located in specific zip codes
Their postcard wasn't typical either — no yellow letter, no “notice” language, no variable data. Yet their results speak for themselves:
- 24 responses
- Which created 4 deals closed
- $60,000 in revenue
- And a whopping ROI (return on investment) of 24,674%.
What’s the strategy? A mailing list FULL of qualified prospects. Send a direct mail piece to a bad mailing list, and you’ve wasted money on returned mail. Mail a postcard to a list full of people who need you, and you’re going to see results.
It’s worth mentioning that this investor mailed only 2,000 cards per month for 3 months in a row — yet the ROI was 24,674%. In other words, it didn’t take long to massively boost your bottom line when you hit the right people with your message.
2. A list of homeowners 30+ days late on their mortgage = 295 qualified leads
Another investor mailed to a list with the following demographics:
- Single family homeowners
- Late 30+ days on their mortgage
- Plus, an additional mailing list of non-owner residents
- All within select zip codes.
They mailed a bright yellow postcard with a clear and direct message to their list. To maximize their response, they incorporated follow-up ads on Google, Facebook, and Instagram to their mailings, so recipients saw their marketing both offline and online.
Check out their results:
- Google ads seen 530,000 times
- Google ads clicked on 1,158 times
- Facebook and Instagram ads seen 27,900 times
- Facebook and Instagram ads clicked on 79 times
- Their postcard's call tracking number dialed 405 times
These coordinated online follow-up ads are called retargeting ads. If retargeting is included in your direct mail campaign, postcard recipients that visit your website will start seeing matching ads online all over the internet. It effectively puts your message everywhere.
When you start by targeting a good list with postcards, it's prudent to continue increasing your exposure to that audience with online ads — which ring up at a fraction of the cost of continuing to reach that list by mail.
When the campaign was done and dusted, this investor was looking at 295 qualified leads they could follow up with and close.
Here’s the last case study:
3. Targeting homes valued less than $180,000 could net you $40,000 in revenue
Another investor opted to cast a wider net. His list was made up of these demographics:
- All property owners within their town
- Homes valued at $180,000 or less
They also chose to mail a yellow postcard — branded with the local university’s colors — that included a special offer to pay for 100% of closing costs. That’s a great offer! Even better, it could easily be the decision-making difference between them and another investor.
Check out their results:
- 54 calls
- 4 deals closed
- $40,000 in revenue
- An ROI of 518%.
Not too shabby for blanketing everyone in town with a certain home value!
When you hit a targeted mailing list with your marketing, repeatedly over time, you create an impression for your business that looks legitimate.
Anyone can throw up a digital ad these days but showing up in someone’s mailbox with a tangible direct mail piece creates trust in your business.
When you buy a mailing list, make sure you’re guaranteed at LEAST 90% deliverability of your direct mail; any good mailing house will do that!