As a real estate investor, you've probably heard of various marketing strategies like cold calling, texting, and direct mail. But have you ever considered using door hangers as part of your marketing arsenal?
In this blog post, we're featuring an interview with Justin Dossey, co-owner of Ballpoint Marketing, who shares his insights on using door hangers for real estate marketing, and how it can help increase response rates.
Door Hangers: An Untapped Channel in Real Estate Marketing
One of the most exciting integrations between DealMachine and Ballpoint Marketing is the availability of door hangers as an option for users. Door hangers are a relatively new and untapped channel in the world of real estate wholesale marketing.
According to Justin, they have seen callback rates as high as 20% on their door hangers. This impressive response rate can be attributed to the fact that door hangers are a more personal and attention-grabbing marketing tactic, since they are physically placed on a potential seller's door.
Additionally, it seems that door hangers are yet to be widely adopted by other real estate marketing companies, giving those who use them a unique advantage.
Why Door Hangers Stand Out
Ballpoint Marketing offers four different door hanger designs, each targeting a specific reason why a homeowner might want to sell their property:
- "We will buy this house as is"
- "Sell this property fast with no repairs"
- "Sell with no realtor commissions"
- "We want to buy this house"
Each of these designs includes a custom message crafted by Ballpoint's copywriter. While the messages can be customized, they generally keep within a 35-40 word count to ensure legibility and conciseness.
Moreover, instead of knocking on doors, which can be awkward and uncomfortable for both parties, Justin advises simply leaving the door hangers on the doors without disturbing the residents. This non-intrusive approach has proven to be more effective in generating callbacks.
Combining Door Hangers with Driving for Dollars
Door hangers complement Driving for Dollars campaigns perfectly. As real estate investors drive around looking for potential deals, they can easily drop off door hangers at properties that catch their interest. This not only saves time but also increases the response rate, as door hangers create a sense of personal effort and genuine interest in the property.
Justin suggests that if a property has been vacant for some time, it's better to run a targeted mail campaign to the property owner's address rather than leaving a door hanger. But if a house appears to be occupied and in need of work or repairs, a door hanger can be an effective way to initiate contact with the homeowner.
Strategies for Success with Door Hangers
For those just starting out in real estate investing, Justin offers two different strategies depending on whether you have more time or more money to invest:
- If you have more time than money, begin with door hangers and one-off mailers through DealMachine, such as postcards or handwritten letters. This cost-effective approach can yield high callback rates if executed consistently and diligently.
- If you have more money than time, opt for a full-blown handwritten mailer campaign that is sent consistently and ensures someone is available to answer calls and follow up on leads.
The key to success is consistency – even distributing just a few door hangers a day can make a significant impact over time. Justin recommends keeping a stack of door hangers in your car or truck so that you're always ready to capitalize on a potential opportunity.
Tips for Maximizing Your Door Hanger Campaign
- Change up your daily routine and drive different routes to work or when running errands, as this can introduce you to new neighborhoods and potential investment properties.
- Consider enlisting the help of friends or family members to distribute door hangers and offer them a commission on any deals that result from their efforts.
- Utilize DealMachine's Virtual Driving for Dollars feature to identify routes and neighborhoods that hold potential deals before venturing out to distribute door hangers.
In conclusion, door hangers are an untapped and effective marketing tool for real estate investors that can generate impressive response rates when used consistently and strategically. As Justin reminds us, it's essential not to sacrifice personal happiness for the sake of growing your business – and incorporating door hangers into your marketing strategy can be one additional way to create a balanced and fulfilling career in real estate investing.
