10 Jun Do You Have A Good Real Estate Direct Mail Response Rate?
Direct mail has survived a constantly changing marketing landscape, and remains one of the most efficient ways for Realtors® to generate high-quality leads. In order to make the most of its capabilities though, the response rate of real estate direct mail has to be significant enough to deliver large amounts of prospective clients.
What’s the average response rate? What results should you be aiming for to get the most out of your investment? We’ll take you through all the statistics you need to know, and give you our best tips for launching direct mail campaigns that get results.
By The Numbers
Across all industries, direct mail earns anywhere between a 5-9% response rate on average. Real estate clients are a little less forgiving, with the rate for real estate hovering around 2-4%. This makes sense, as buying or selling a home is a lot more financially significant than buying a new couch. Still though, that’s an impressive return for a relatively cheap investment. Email marketing may be free, but pales in comparison when it comes to results- earning just a 1% response rate across all industries.
As far as bang for your buck, there’s pretty much no beating direct mail campaigns. Letters are still perceived as a more personal form of communication than email, especially when you pay attention to little details like thoughtful branding and good quality paper. While it’s easy to scroll through and send thousands of emails to the junk bin in one fell swoop, it’s a lot harder to ignore direct mail. Even if it ultimately ends up in the trash, the recipient still has to at least scan your letter and will at least pick up on your name and services.
What makes direct mail more EFFECTIVE?
Attractive design and straight-to-the-point copy is the name of the game here. You’re trying to catch your recipient’s attention as quickly as possible, and provide a concrete action they can take to follow-up. You may be able to hook readers with the best of them, but if you can’t directly influence them towards getting in touch, the lead is lost. Realtors® use direct mail for everything from advertising an open house or listing, providing market information, or highlighting an impressive sale. With all of these, there is a direct action that the reader can take, rather than dazzling them only to leave them hanging.
As with any marketing material, you’ll need to present an image of excellence in any direct mail you send out. Branding is of HUGE importance here, as recipients are more likely to respond to someone they perceive as a professional. Keep it simple with a colour-scheme that’s easy on the eyes. If you’re able to keep your letters friendly and inviting rather than bombarding your audience with sales pitches, you’re likely to see better results.
How to improve your direct mail
The first step is to enlist the help of a qualified marketing professional. Unless you’re a graphic design expert, you’ll likely have to opt for a template if you try and go it alone. Discerning recipients will immediately be able to tell a stock design, as they’ll likely have received countless similar flyers in the past. If you’re able to stand out from your competitors with knockout design and a unique offer, you’re already ahead of the crowd. In terms of enhancing readability, keep your layout simple and stick to a classic typeface- nothing crazy. Make your best offers stand out, and provide lots of ways for interested readers to follow up and get in touch.
Looking for assistance crafting your next real estate direct mail campaign? Click here to get in touch and start developing a comprehensive strategy that works for you and your business.