Yellow Letter Campaign, Round 2 — Results

Well, it’s been an interesting week.  Another 300+ mailers went out last week, and boy did I hit the right message.  I think!

Here are the Stats:

Mailers 363
Phone Calls 8 2.20%
Phone Call Stats
Realtors 1 0.28%
Take me off 1 0.28%
Hangups 6 1.65%

Hands down the yellow letter wins this first round!  With a 2.20% response rate vs a 0% response rate with the postcards.  Both had the same message, but it’s evident that the act of opening up a letter gave people a bigger incentive to dial my number! Such a great response rate!  Way over the 1% at the bottom and much closer to the ideal 3%!  When we combine that with our first mailing of 325 mailers we get 688 mailers sent out putting us down to a 1.1% response rate.  Still above our minimum expectation but not great!

What’s the bad?  PATLive.  I should have listened to the amazing Mr. Michael Quarles, and ditched the service and send everything to voice-mail.  I may have to retract my earlier rant about “Answering the Phone!” because apparently no one wanted to follow the script I gave PatLive. Here are the responses I got:

The caller wanted to find out more about the company and decided that he did not
want to do business with the company. He declined to leave a message and contact
information.

Well, that’s interesting. Makes me wonder if I had a website if that could have turned into a lead. Or if I had created a fuller script for the PAT to riff off of.

…stated she is a realtor and would like to speak with Troy. She stated he
is interested in one of her properties.

Ok, but they couldn’t even get the address of the property that she was talking about?  Seems to me like they are barely trying to get the very limited amount of information that I need to do anything with!

The caller disconnected the call upon learning that we are real estate investors.

This could be a problem with the script.  I’ll look it over and try to get some changes done before the next mailer hits.

The caller may call back another time to discuss selling their property.

Finally, some interest!  But again PAT failed to get any kind of lead generating information.

This is really frustrating to get 8 calls in 3 days (5 of them in one day!) and not get any actionable material from a company I am paying a pretty penny to.  Last month I went off to an REIA meeting where Michael Quarles was the guest speaker and I asked him about phone answering.  He suggested that I send everything to voice-mail if I wasn’t planning on answering personally.  It gave me pause about my plan, but my mailers had already gone out with the PATLive phone number on it, and I wanted to give it a try.  His argument of course that they weren’t trained to answer the phone the “right” way and why would you let someone you don’t know the ability to screw up your business?

I think he may be right.  But, I’ve got two more mailing with the PATLive phone number scheduled to go out, so I can’t make that change yet.  There is a hosted voice-mail solution for PATLive which is $60+ a month less expensive then the live answering service, so I may switch my service to that.

You can believe that I am however going to follow Michael’s advice on calling back those numbers!  I’ve scheduled myself some free time on Wednesday where I am available during the day and at night to answer the phone, so I’ll give the hangups a call back and see if I can save the lead from dying.

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