If you’re going to try direct mail postcards to broadcast your new “just listed” or “just sold” listings, you may be wondering how many postcards to send out.
The general consensus is roughly 300.
Here are some things to consider to see if maybe you should be sending the same, more, or fewer.
Sending out your just sold / just listed postcards one time isn’t going to do you any good. Consistency is key if you’re trying to target a farm with direct mail. So, one of your first considerations should be how many cards you can send out on a regular basis.
How much can you afford to regularly spend on postage and printing? Again, consistency is key so you may want to consider your budget in terms of a monthly spend or, if you have a consistent flow of deals and listings, how much you’re going to invest for each new listing or sale.
Are you sending out one card or are you doing any type of split testing to see which version of a card works better? If you’re doing a split test, you’re better off sending more cards than fewer. That’s because you’ll start to see more statistically accurate results if you can send out at least a few hundred with each version.
Your List vs. New Clients
Is your goal with your postcards to gain brand new clients or to reinforce your top-of-mind awareness with your current clients? If you’re going for new blood, then you’ll want to consider a larger list so you’re more likely to reach people who are ready (or nearly ready) to buy/sell right now. If you’re advertising to current clients, then just stick to that list. If it’s a huge list of current clients, then try segmenting or prioritizing that list to target just those who are most likely to refer you or use you directly again.
Value of Homes
If your farm is homes that have an average value that is very high or low, this should be a major consideration for you. Your fixed costs (postage, printing, etc.) will be exactly the same either way. So, if your average home value is $700,000 and the commissions are going to be pretty good, that may be incentive to send out more just listed postcards than if the average value is $95,000.
Do You Enjoy It?
Any prospecting must be fun (or at least tolerable) to ensure you’ll keep doing it. How many just sold postcards will you have the time and interest to do?
You Can Always Do More
Once you start, you can always send out more cards as you find that they’re working for you. There’s no point in doing 1000 and then cutting back to 400 three months later. You’re much better off starting smaller and then growing as needed.
We talked about your consistency over the long-term. But what about frequency – how many can you send out each month or quarter? Sending out 2 cards a year for 10 years might be consistent, but that frequency probably isn’t enough. How many cards can you send out each week, month, or quarter and keep the consistency up?
How Are You Mailing?
What is the method you’ll be using to mail your cards? If you’re doing everything by hand like writing addresses by hand or manually sticking stamps and address stickers, that’s going to be a big investment of time. Or, do you have some type of mailing service like Every Door Direct Mail from the US Post office? The effort involved in mailing will have an impact on how likely you are to consistently do this well.
What is the turnover of the homes you’re mailing to? If it’s pretty active and people are moving in and out of the area regularly, this could be good news for you because there are going to be more ready and willing clients. If turnover is low, you’re going to have to be especially patient before this type of advertising starts working for you.
When you start your just listed/sold campaign, make an effort to send roughly 300 on a frequent and consistent basis. As you see how the program is working, you can alter your advertising message as well as the number of homes you’re targeting so you can reap the biggest bang for the buck.
Do you do direct mail like this? Leave us a message and let us know how many you send and how it works for you.