Hello, all. I’ve rallied the troops (well, myself) and have put together my most recent marketing campaign. The other local investors didn’t work out, so I struck out on my own. Due to many circumstances, I decided to do a version of virtual wholesaling in Oklahoma City. You remember that I’m currently in Tulsa, for my husband’s job, so it’s been an interesting challenge preparing to invest remotely.
Here’s my Yellow Letter for this campaign. I sent a batch out a week ago, and this simple letter has gotten me a 10.5% response rate and counting.
Why I think it works:
1. Handwritten = Sincere
People are more likely to open mail if it’s personal. The envelope is addressed by hand in blue ink. The letter itself is handwritten, so they know a real person wrote it. It indicates to them that I am more likely to be sincere, and not just spam or a large business (which people dislike more than mom-and-pop operations).
2. “My husband and I” = Legitimate
I always include “my husband and I”, even though I do most of the legwork, because when people see that bit of information about me, I become a Real Person. I have a husband, so I seem more responsible and legitimate. I assume “my sister and I” or “my partner and I” would create a similar effect. It’s actually an interesting sociological phenomenon that if you are able to pinpoint someone to a specific position in society, they feel more comfortable with you. I am not just somebody, I’m Kelly who has a husband. Strange, huh?
3. A Bit of Mystery is Intriguing
I don’t write a return address on the envelope. Also, I don’t explain myself in detail in the letter. I sound most likely respectable, probably sincere, but who I am? Why do I want to buy the house? What would I offer? They don’t know, so they are more likely to call to find out.
It’s extremely inefficient to handwrite hundreds of letters, but starting out, it’s worth a 15% + response rate (I’m hoping for somewhere between 20-30%, but I’ll report back). Some people hand-write one and then make color copies on yellow notebook paper; but to me, that screams “sham”. If I were to open that letter, I’d think they were trying to trick me into thinking it was really handwritten, when close inspection shows it is not.
It would be better to print letters and then sign them by hand, and have someone else hand address them. Or hire someone to hand-write yellow letters. That’s something I might consider in the future, when my time is better spent elsewhere.