Saturday, August 19, 2017

A Guest Blog About Every Door Direct Mail 

by Brian Fox. VP Business Development, Benutech

Okay, so you probably know about the value and benefit of mailing postcards via Every Door Direct Mail (EDDM) by the United State Postal Service (USPS)… They are plentiful.  The postage rate for delivery is attractive (17 cents a door).  The residences are all in a close, neat geographical location.  This allows you acquire the best postage rates for your mail marketing and when it’s time to walk your farm to meet homeowners – the residences are all in a neat geographical location for easy walking and knocking.

The challenge is… How do you find the “right” EDDM Group to deliver to?  Well, that’s a bit tricky – but not only is there hope, there are real data solutions to solve this tricky challenge.

Let’s break the moves down step by step for you.   There are 4 very important steps in choosing the correct EDDM location(s) to farm and here they are:

  1. Locate EDDM Groups within a zip code or city by finding the EDDM Groups with the highest turnover rates available. In other words, the higher the ratio of homeowners that move annually, the higher the chance of finding more sellers within those areas in the future. Why?  Every real estate coach in the U.S. teaches their paying clients to find areas of “high turnover” defined as 7% turnover rate or higher.  Statistically, they have shown that finding areas where homes are selling provides agents with areas that will continue to sell at high rates.  This will help make your marketing more efficient.
  2. Once you have the EDDM Groups ranked from highest to lowest turnover rate – Locate the EDDM groups that have “Sales Price Points” that interest you. In other words, if two EDDM groups have similar turnover rates, but different home price selling points – it’s much better to sell a home that sells for $600K vs. $350K, right?
  3. Now, this is important: Compare the number of “owned homes” in the EDDM Group against what the USPS will deliver to in the same EDDM group.  Keep in mind – EDDM via USPS delivers to every resident (homeowners, apartment renters) within the EDDM group. Most agents don’t want to mail to renters – Agents mail market to find potential sellers.  So, you wouldn’t want to mail to 500 residences via EDDM if only 300 of them are “owned” properties.  If you did, you would be employing the USPS to deliver to 200 apartment renters in that EDDM Group that can’t be sellers because they are renting.   Look for EDDM Groups on the USPS Website that have a similar number of “delivery” vs. “properties owned within the EDDM group” – See the examples provided for zip code 98006 in Bellevue, a suburb of Seattle, WA.  Two EDDM Groups with similar turnover rates 7.95% and 7.84% – but the 7.84% group (Carrier Route C037) has 536 owned properties within the EDDM Group of 543 units that the USPS will deliver to. Therefore, Carrier Route C037 has a much higher “ownership deliver rate” than Carrier Route C028 – providing a better value for you as a paying customer.
  4. As a last step – look to see what the “average years owned” is for the EDDM group you select. Average home ownership rates in the 7-10 year range seem to indicate areas that folks purchase into and then sell rather quickly – possibly to upgrade to a larger home or to a home in a more desirable location – which results in higher sales rates annually.  Also, look to see what the Non-Owner occupancy rate is for the EDDM group.  Much of the time, Non-Owners will sell property more frequently than Owner Occupants, so high Non-Owner Occupancy rates could help facilitate more sales, more often.

In the example provided for Zip Code 98006 in Bellevue, WA – the perfect EDDM Group was found utilizing Benutech’s “Title Toolbox” data.  Carrier Route C037 had a high turnover rate (7.84%), it had 536 owned units within a 543 unit EDDM Group, it had one of the highest sales price points in Bellevue at $1.3M, and had an average years owned of 8.6% – indicating that this area could be an area where folks purchase and sell rather frequently. If you are farming in Bellevue, this would be the place to farm!

Okay, yes… This may seem like a lot… and it is… so just do this:  Contact ProspectsPLUS! and have them help you with this process.  They are direct mail marketing experts, and by utilizing Benutech data and their technology – they can complete these steps for you and place you in the perfect EDDM group to start your successful farming campaigns.

Oh, but please realize, you are not done once you find that perfect EDDM Group to market to! Now it’s time to make you known to the homeowners within the EDDM Group.  Let’s go back to those Real Estate Coaches… Their expensive advice is to market monthly.  You have just located the perfect farming location – so FARM it!

Step One:  Get the mail marketing pieces out to this EDDM Group once per month.  ProspectsPLUS! will help you select the perfect mail pieces.

Step two: Once the mail is out… You need to get out.  Homeowners are not going to hire you to sell their
home unless they get to KNOW YOU. It’s that simple.  Having homes in EDDM Groups allow you to easily walk and talk to the homeowners within the EDDM groups.  Don’t rely just on the mail… You are way more powerful than a postcard… Meet the folks in the EDDM Group so that they can hire you when it comes time to sell.  Seize the day, meet some folks – and take new listings!

About: Brian Fox, VP Business Development, Benutech, Inc. Benutech, Inc. is a real estate data company out of Costa Mesa, CA and is the creator of “ReboGateway” (for Real Estate Agents and Investors) and “Title Toolbox” (for Title Companies and other property related business). To contact Brian Fox:  Brian@benutech.com or 714-580-8099.

Need help choosing the right EDDM piece for you? Contact the ProspectsPLUS! customer care team at 866.405.3638 today! 

And Have Some Fun With Your Marketing

by Julie Escobar

Consistency is a powerful element in successful marketing. That’s why so many of our clients wisely choose to pick a postcard series to stick with for three to six months at a time. It’s also why you’ll see this strategy play out in our Master Marketing Schedule. We pick a series and make the postcards from it a monthly tip for reaching out to the consumers in your marketplace to build your book of business.

This week’s schedule strategy is to send the Waiting Could Cost You postcard from the Market Quote Series to at least 100 new prospects in an area where you want more listings. I love this series. It’s simple and effective and gives potential buyers and sellers insights into what is happening right now in the real estate market.

If you’ve thought about using it, here are some suggestions for the copy on the backside of the card. 

  1. Invite people to a real estate question and answer event. Have some fun with it.
  2. Offer something of value such as a Comparative Market Analysis, Home Price Analysis, or a Free Report.
  3. Share some hyper-local information such as listing and sale metrics, or even local event information such as school schedules, neighborhood event calendars, etc.
  4. Share your personal insights on what people need to know about real estate on a local level.
  5. Drive people to a blog post or social media page to learn more information.

Make sure you are writing your copy in a conversational and engaging way and don’t be afraid to let your personality show through! Be sure to spell-check before you finalize your postcard, then place your order. (It’s sometimes helpful to write out what you want in a Word document first and paste it into the system for less frustration and spell-checking.) Many of our top agent clients choose the first week of every month to spend 30-60 minutes to make sure their marketing is done and checked off the list for the month for each category of customers they want to reach or they break it down by week, based on the Master Marketing Schedule.  Be sure you are connecting with:

Need help putting your marketing in motion? Contact our team today at 866.405.3638! They are terrific at helping agents grow their businesses. 

The Difference Between Calm & Commission Chasing

By Julie Escobar

One of the biggest challenges for people getting into the business of real estate is the fear of NOT knowing when they will get paid.  Commission only? Are you kidding me?  While that’s a genuine concern when you’re brand new and haven’t learned the ropes yet, what’s interesting is how many people are STILL unclear about when and where their next commission will come from though they’ve been in the business for years.  The common denominator for that dilemma lies in whether they take a proactive or reactive approach to their business.

First and foremost?  You are an independent contractor, and as such you are running a business entity, so treating it as such is more than common sense – it’s a must.  Proactive agents know where their leads are coming from because they are putting systems in place to ensure that they are marketing themselves in the areas that matter most such as:

  • Their sphere of influence: Those folks that already know them, like them, trust them and would do business with them. They know that if they stay in touch monthly, contact regularly, and make these VIPs a priority, they can expect a referral, listing or sale from one in twelve each year. (Marketing methods of choice: Newsletter, Holiday Postcards, Recipe Cards, Content Cards, Annual Customer Appreciation events, and a phone call or visit at LEAST twice per year.)
  • Their geo farm: The market area they most want to dominate. Smart agents choose a neighborhood that already has some turnover, does NOT have another agent with the substantial presence or market share, and has a price point that makes sense for them to invest in marketing. (Marketing methods of choice:  Market Dominator, Just Listed/Just Sold postcards, Open Houses, Neighborhood luxury cardsUpdate/Free Offer Series and farm canvassing at least three times per year.)
  • A niche: That tribe of people or customers you most like to work with.  Maybe it’s first time home buyers, or seniors, or medical professionals, or boaters. Whatever group you feel connected with – make yourself known as the go-to agent.  (Marketing Methods of choice, Newsletters, Lifestyle Interest Postcards and attending or sponsoring events specifically targeted to that niche.)
  • Lead generation: Continuously casting new nets for new business as well as constant prospecting the three segments above. (Marketing Methods of choice: Reaching out to local businesses for networking and referrals, partnering with local PTAs and sporting teams, using Every Door Direct Mail to market to blanket a new carrier route, Listing Inventory postcards.)

These agents aren’t shy about sharing their success rates either.  They use social media wisely, are active and visible in the communities they service and they broadcast their results via Just Listed/Just Sold postcards and online announcements.  Examples: Sold in TWO days!  Was on the market with another agent for six months. Now sold in just one week!

Reactive agents? Pretty much none of the above. They spend the bulk of their time working with buyers and usually only actively seek a new listing once the one or two they have in inventory sell.  I love what Darryl Davis shared in his last article with us.  “It’s no longer listings are the name of the game – it’s listing INVENTORY is the name of the game.”  He compares it to owning a shoe store and having no shoes left to sell.

Bottom line: When you are reactionary, as in, “I have no income coming in – let me go take a listing now,” your life is stressful. You worry about providing for yourself and your family.  You aren’t sure if you need to go “get a real job”.

When you are proactive, you make marketing and prospecting part of your daily routine.  You KNOW your numbers.  “I need to speak with X number of people each day to get X amount of appointments, to do X number of listings, X amount of sales, and X number of closings.”  You use time blocking to prioritize your time and activity. You use systems to automate your marketing or simplify the processes.

If you’re a brand new agent or are an agent that needs less stress, more business and are ready to get to the next level in your career – kick that reactive stuff to the curb and jump in with a proactive plan to build your business.

Need help working with your sphere, farm or niche? We’ve got everything you need to succeed at www.prospectsplus.com or call our team at 866.405.3638.

 

Start by Answering the Questions Already in the Minds of Consumers

By Julie Escobar

A new month – and a new marketing season are straight ahead — and both buyers and sellers in our markets have been inundated with information regarding the economy and the housing industry on television, in print and on the internet.  Some good information – some misinterpreted, and some just flat out wrong.

What consumers need more than ever is a RELIABLE, TRUSTWORTHY resource to help them best understand how market changes affect them most. What’s my home worth today?  What if I wait a year to sell?  What are interest rates going to do?   Should they sell?  Should they buy?  Should they move up to the next size home or is that a risk?

The questions are many – and the answers are yours for the giving – IF you can capture (and keep) the top-of-mind attention of the folks in your area.

One direct response series that is getting great response for agents is our Free Offer Series.  Sending three over the course of 2-3 months can certainly help you create the top-of-mind awareness and show potential sellers that you are the agent to ask when they have questions.

Consider kicking off this campaign free home market analysis starting with the Market Analysis postcard.   This allows you to spotlight your ability to deliver the information sellers are looking for in a professional way and tap into today’s consumers’ natural desire to search out ‘free’ offers and trusted resources.

Step one:  Login to your free ProspectsPLUS.com account. (Or easily create an account and profile in a matter of minutes. Once your profile is ready – the system will automatically populate your information into all of the 680+ marketing tools on the site.)

Step two:  Select the Market Analysis Postcard.  You can leave as is or customize to suit your marketing style. Click here to watch a video on how to select a postcard series.

Step three:  Add your mailing list or use our mapping tools to create a mailing list. If you need help with mailing lists – call our support team at 866.405.3638 or click here to see all of our comprehensive mailing list solutions.

Step four:  Place your order then track it. It’s that easy! Click here to watch a video on tracking your postcard order.

Making your job easier is our goal.  That’s why we’ve re-engineered the Master Marketing Schedule to offer free offer door hangerstrategic and creative solutions for building your business faster, easier, more affordable and with way less headaches. In fact, if you’re following the Schedule – this week is a great time to get out in those geo farms and start making real connections.  Our Free Offer Door hangers are a great compliment to the Free Offer postcards and the perfect leave behind when you’re door knocking in the market area you most want to dominate.

Putting systems for staying in touch in place don’t have to be tough – or time consuming.  Most of our top customers schedule 15-30 minutes at the beginning or end of every month to focus on what marketing tools they want to go out.  When they choose a campaign, it’s easy — they simply pick the next one in the series, order and get back to their high priority tasks. Some even delegate a member of their team to make it their priority that something is always being sent to their sphere and farm so top of mind awareness is always there.

Kudos to the agents that are working their systems and are willing to share their experiences with others. We so appreciate you all. For example, Cozett shared with us on ResellerRatings, “I like how ProspectsPLUS! puts marketing at my fingertips and then handles the time consuming work of mailing and distributing materials if I need them too.”  Or Jeremy who wrote on our Google+ page, “ProspectPLUS! is a real lifesaver for me. I have been looking around on how to keep in contact with my sellers. I needed more than just a phone call. The postcards are a highlight to my business now. This has also allowed me to start farming a few neighborhoods that I drive through with a more personal touch.”  Or Bradley who wrote on our Facebook Page, “ProspectsPLUS makes it so easy for me to market to not only my sphere but also to my farming areas. In less than 5 minutes I can have all of my postcards ordered and off my plate so I can work on what I do best…selling homes!”

We’d love to hear from you too! In fact, give us a shout out with a review now on our Google+ Page and you’ll be entered to win one of our monthly prizes! Wait until you see what’s in store for July!

Have questions or need help developing the marketing plan that’s right for you?  Call us today at 866.405.3638 or email us at pmc@prospectsplus.com.  We’re here to assist!

 

And When Should You Put it Into Overdrive

By Julie Escobar

We are asked weekly by agents all over North America to offer sound real estate advice, and the one that often surprises us is, “When should I stop marketing?”  The answer?  When you leave the business.  Up until then, if you want to do do what’s right for your sellers, business, and bottom line — you’ve got to stay in the game.  Perhaps at different levels during spells of your career – but staying in consistent touch with your sphere and farm is right up there with prospecting, presenting, and closing in terms of generating income and referrals.

“But I’ve sent two mailings and haven’t gotten a call.”  We get it. We’ve even been there.  There are a lot of us on the team that have walked in your shoes listing and selling homes.  Here’s what we know, and what statistics and history tell us –it takes more than that.  One mailing. One phone call. One email — won’t ever get you the results you are looking for. What will?   Staying the course.  With mailings, and phone calls, and emails, and door knocking, and community involvement.  Statistics tell us it takes at LEAST three impressions for a consumer to recognize your name, seven to associate your name with your business, and twenty seven for them to like you, know you, trust you enough to do business with them.  But you know? Most agents stop after three tries, and most transactions or calls happen after five-seven.

So here’s a plan – this month, every month:  Take your targeted message, use direct response offers, stagger your direct mail with your email and CALL your prospects to follow up.  Check out our Master Marketing Schedule for fun “reasons” to call, or stop by every 3-6 months as well and you are well on your way to branding yourself as THEIR real estate professional.

What to send? Here are four ideas to get you started:

Holiday Cards: Every month you can add a seasonal touch to your marketing. Add a greatmessage to the back with free offers for consumer reports, lists of homes, comparative market analysis – or invitation to an event.  Be sure you are following up every few months with a friendly, “anything I can do for you” call.

Call to Action Cards:  These are a great direct response piece to send with free offers and the ability to share timely market-specific content.

Content Cards:  These powerful, content-rich cards have timely topics with the kind of consumer-friendly information that both gives people what they want and sets you up to be a knowledgeable resource in your market.call to action

Scale back or push forward?  As we head into holidays many agents will slow their marketing way down as social obligations gear up.  When that happens, it’s always a good idea to be the agent who takes the opposite approach.  That way, you’ll stay top of mind without any lag in exposure and hit the ground running come January when other agents are just getting restarted.

While it makes sense to look at your business as a whole and carefully measure your return and the necessity of each line item on your budget, what doesn’t 4 ways contentmake sense is to slip into anonymity by eliminating your marketing dollars.  In fact, Billionaire Bill Bartmann, and author of Eight Ways to Recession Proof Your Business recommends quite the opposite.  Slash expenses, indeed.  Take the waste and the “fat” out of your monthly and annual expenditures wherever and however possible.  With one exception:  Marketing.  Bill’s advice is to dramatically expand your marketing plan.  Why?  Simple – the time is now to swiftly capture the market share being left on the table by every other industry salesperson that has gone into conservation mode to the point where they no longer have a viable, VISIBLE presence in your market area.  Keeping expenses lean in every other area of your business will allow you to SURVIVE the storms.  Expanding your budget and actions in the arena of marketing will ensure you THRIVE not just today, but be the front-runner when the market does indeed take the turn for the better.

We all know it’s harder and MUCH more expensive to attract NEW customers than it is to keep and nurture our current book of business.  In fact, according to Gary Keller’s books, Millionaire Real Estate Agent, you can expect to do business with one out of ever twelve customers in your sphere of influence per year if you stay in touch with them consistently!  So, what are you waiting for?  Start making a great impression today, then do it again next week, next month, all year around!  Your business – and your bottom line – will thank you for it.

Want to learn more about how to generate the right leads for your business, thrive in ANY economy and make a wonderful first, second and twenty-seventh impression?  Visit Master Marketing Schedule today. It’s filled with new, innovative and outside the box ideas each and every month!  Need help?  Our marketing team is top of the line at 866.405.3638 and ready to answer your questions or help you create the marketing piece that’s perfect for your market.