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Snail Mail Vs Text Message Leads For Real Estate Investors – Which is Better?
Joe: Hey, it’s Joe Crump. I’ve been asked, “Is it better to send out postcards and letters by snail mail, or is it better to send text messages using something like the Automarketer to send out to for sale by owners or to absentee owners or to expired listings? Which one is going to have the higher rate of return?”
Joe: If you’re getting a 1% or 2% response rate on your letters, you’re doing amazingly well. And you can make a lot of, you can put together a lot of deals that way. But, typically it’s going to cost you maybe $20, to $30 to $50 per lead when you do snail mail.
Joe: Now, snail mail can be wonderful, and I know some people that are doing very, very well with snail mail. And that’s actually something that’s going to be coming to the Automarketer soon, where we’re going to be able to send out postcards to leads that you send. So that’s coming soon. It’s not in the system yet.
Joe: Now, text messages on the other hand, are going to be a lot cheaper to send out. You’re response rate is going to be much, much higher. We’ll get 10% to 50% response rate on text messages. Although 80% of them will say no, but we at least get responses on those. And you can do that same type of lead conversion with those leads that you can with a snail mail lead. Now, a text lead is going to probably cost you between $1.00 and $4.00 per lead after it’s all said and done, whereas the snail mail lead is going to cost you anywhere from $10 to $50, typically around $20 or $25 per lead.
Joe: There’s also a lot more snail mail that’s being sent out these days, so you’re going to get lost in the crowd a little bit. So that also raises your cost per lead as well. But, if it takes ten leads and you paid $50 a lead to make that happen using snail mail, that means you spent $500 to get a deal, that’s assuming you know how to talk to people and can put that stuff together. So you’ve spent $500 to put a deal together that you made $10,000 on. That’s a pretty good return on your investment. I think most marketers would be happy with that kind of return.
Joe: Of course, if you can spend $4.00, or even you know, even more than that on a lead, that’s even better because you’re going to be making a much higher return on that text message.
Joe: Anyway, that’s the difference between text and snail mail. They’re both wonderful. One is a lot cheaper, a lot easier and a lot faster than snail mail, although in the very near future we’re gong to try to make snail mail a lot easier for you to use as well.
Joe: All right. Hope that helps.