Once you decide to begin a direct mail campaign to a targeted list of owners of multifamily properties, you need to have a specific message that you want to deliver.
How do you get responses to your letters? Here are some tips to not only get your letter opened but read and responded to.
First, it is important to hand address the envelopes. You may want to do the first letters you send out yourself, but you are the marketing manager of your business and not the marketing assistant. You need to hire someone, possibly a high-school student, to address the envelopes for you.
You can hire someone to hand address the envelope, fold and stuff the envelopes for $.75 a letter. That price even includes the ink, paper, the envelope and the stamp. So if you have 1000 letters to send out, you will end up spending $750. That’s a cheap way to market your product.
Your first goal is to make your letter personal. That begins with the handwritten address. Your return address can be a label. You should have a street address with no name for the return address. Do not use a PO Box. Theme stamps also add a nice personal touch.
It is not necessary to add your name to the return address. You have created interest because the address is handwritten and so you increase the odds that your letter will be opened. Also, do not use “windowed” envelopes because that looks like a business envelope.
Once you have gotten the recipient to open your letter, you need them to actually read it. You should use colored paper for your letterhead. Two good choices are Goldenrod or Gray. Goldenrod has been tested and proven to generate a better response. Statistically, yellow is a “selling” color.
The top of your letter needs to have a headline. The headline needs to grab their attention and draw them into the letter. The body of the letter needs to explain that you are interested in buying their property. It should contain a phone number where they can reach you directly.
You should use your personal name on the letter. Do not use a company logo. Your response rate will plummet if you use a company logo. People are not interested in dealing with companies. They want to deal with individuals. Again, personalization is the key.
The letter does need to be signed and you can have the person that you hired to address and stuff the envelopes sign the letters as well. It needs to be in blue ink so the recipient can see that it was written and not printed. Also be sure to include a P.S. at the end of your letter.
The important thing to remember with a direct mail campaign is to have a system in place. Do not send out so many letters that you are swamped with calls but instead send out smaller numbers so you have time to analyze and respond to the inquiries you receive.
A successful direct mail marketing campaign will generate a response rate of anywhere from 2 – 5%. As with any marketing campaign, you need to analyze what works for you and what doesn’t. By using the tips described above, you are well-equipped to begin an effective direct mail campaign to target multifamily property owners.