Think direct mail marketing is dead?
The truth is, direct mail marketing never went away — in fact, it’s still one of the most effective luxury real estate marketing strategies, and one of the best ways to position yourself as a luxury real estate expert in your market.
According to USPS, 81% of people still scan and read their mail daily, while a 2015 study from the Canada Post found direct mail took 21% less cognitive effort to process and led to a higher brand recall than digital media.
If you want to succeed with direct mail marketing, it does take a bit more effort than slapping together a few flimsy flyers to post around town, and you may need to invest more money up front to afford higher-quality marketing.
The result, however, is typically a higher return on investment than using digital marketing alone. So if you’re ready to improve your direct mail marketing strategy or put one in place, here are five ways to do it:
1.) Aim for Adding Value
Have you noticed most of the direct mail marketing you see in the real estate industry is all about the agent? If you want to stand out and start positioning yourself as the neighborhood expert, you’ll want to do the opposite.
Rather than plastering your name, number, headshot, and your most current listing on flyers, offer your prospects a resource.
The best resource to offer? A Luxury Market Report.
At the Institute, the majority of our top producers use the Luxury Market Report as a lead generation tool, and it’s an especially effective direct mail marketing tool since it gives you the opportunity to stay top of mind every single month.
2.) Make Your Direct Mail Marketing Materials Eye-Catching
Again, many real estate agents cut corners with direct mail marketing just to check it off their to-do list. The reality is, putting in the extra effort to create eye-catching marketing materials can be the difference between a low return on investment or a high return on investment.
From a prospect’s point of view, the quality of your direct mail marketing materials is a direct reflection of what they might expect if you were to market their home, so it’s worth it to make sure your direct mail marketing is full of high-quality photography, cohesive branding, and professional copywriting that represents you in a positive light.
3.) Measure Results
The golden rule of marketing? You can’t improve what you can’t measure.
At first glance, it may seem impossible to know who’s responding to direct mail and who’s responding to something they saw on social media or an ad.
A simple solution is to include a unique URL on your direct mail marketing for prospects to go and follow up with you or download an additional resource. That way, you can pay attention to the unique number of visits and engagement connected to that URL and see which direct mail pieces people are responding to.
4.) Stay Consistent
As mentioned, mailing out a Luxury Market Report every month is a great way to stay consistent and purposeful with your direct mail marketing efforts. If you want to send additional direct mail throughout the month, just be sure it still aligns with your big picture goal.
For instance, you may want to send out an additional direct mail marketing campaign, like a community newsletter highlighting local events affluent clientele may be interested in. Or, you may want to send out an extra report or shorter analysis during the Spring through Fall when people are more likely to want to buy and sell.
5.) Don’t Be Afraid to Spend More
The natural draw to digital marketing is that it often doesn’t cost much (or anything at all) to reach a big audience. Direct mail marketing, on the other hand, does require a monetary investment, and the bill can rack up quickly if you’re producing catalogs or using high-quality paper or card stock that features professional photography and copywriting.
This is especially important if you’re just breaking into the luxury real estate market and are prospecting within the price tier just below luxury where other real estate professionals don’t spend as much time, money, or effort on their marketing materials.
By being the one who opts to spend a bit more, you have a better chance of standing out and winning more business.
Want a Proven Blueprint for Luxury Home Marketing?
The Institute’s in-person Luxury Live events are back!
The curriculum for these exciting two-day events is based on our proven 7-Step Luxury Marketing Blueprint to help you break into luxury real estate or reach the next level in your luxury real estate career.
To learn more and see when Luxury Live is coming to your city, click here.