When you are looking for new listings in commercial real estate brokerage, the prospecting model that you implement should include a number of things, one of which is direct mail. That being said, the direct mail process is a cost and strategy to be managed.
There is no point putting out hundreds of letters hoping that people will call you back; the reality of the ratio of ‘generic’ sent letters to call-backs is quite low. From every 1000 letters sent the call back ratio is generally less than 2%. That is not a good ‘return on investment’. There has to be a way to improve results and call backs.
Aim for Better Results
So the way forward in sending out marketing letters to attract more clients and enquiries involves a slightly different approach and a logical system so that you can get better results over time. You want your letters to help you grow inbound enquiries and your database. There are a few ‘secrets’ to the process of direct marketing.
Here are some specific ideas to help you send letters with more impact and grow potential lead conversions be it in sales or leasing of property:
- QUALITY LISTINGS – If you have a specific marketing campaign for a high quality property, then it is worth sending letters with a brochure. The quality of the property and its availability on the market should create inbound enquiry. Where possible take steps to follow up the letters sent regards the particular property. The feedback that you can get from the call will then go straight into your database for matching and later reference.
- SPECIFIC LETTERS TO MATCH THE TARGET GROUPS – Under no circumstances should you send a generic letter across your database. Always design the letter to suit the target prospect and or listing. Spend a good degree of time getting your letter formatted and crafted to the key message and property type.
- SINGLE PAGE FORMAT – The core message of your letter should be on one single page of correspondence with a good headline to capture interest. That then means the letter will be only some 3 or 4 paragraphs in length. End the letter with a call to action. If you have trouble in crafting a good marketing letter, then seek help from others. There are special words and phrases that sell concepts and ideas better than others. Choose your words carefully; get others to proofread your text.
- MAKE IT INTERESTING – Why should someone read your letter? There should be a prime motivator to the letter and the core message should be abundantly clear in the first two sentences. Capture the interest of the reader and support the letter layout with short dot points. Avoid lengthy complex topics and sentences in the correspondence; the basic rule of marketing always centres on simplicity.
- ITS ALL ABOUT THEM (NOT YOU) – One common problem that arises so often in direct marketing is that the correspondence is commonly written from the mindset and perspective of the sender. Avoid the problem of ‘self-selling’ by reversing the marketing perspective; offer information, detail, help and facts. What value do you bring to or offer the reader of the letter? Before you send out any crafted messages about property for sale or lease, review the letter from the prospects perspective. Does the letter offer specific help or information? Can your message and offer make the readers business, tenancy or investment requirements easier?
So there is a few good things that you can do here, especially if you want to use direct mail marketing in growing your market share in commercial real estate brokerage. Remember that your competitors are sending out letters all the time; your letters must be of a higher standard than anything else used locally by other agents and brokers. Avoid the generic; be specific and special with all of your messages.
Always follow up all of your letters with a telephone call, and don’t send too many letters that are beyond your capacity to make those follow up calls. In closing on this marketing strategy, always enclose your business card with all of your direct mail pieces.