t’s been 7 days since we started a new business in a brand new market, and I am excited to share the results of the strategies we set up, and the marketing we put in place 7 days ago! We had a new mail piece and it’s a “Game Changer”! Believe it or not, we got our first contract signed yesterday! It’s insane! This proves that direct mail isn’t dead. So, we got it locked up, and my team is currently trying to move it. This response rate is one of the best I’ve personally seen.
We have talked a lot about where you are now, where you wanna be, and how are you gonna get there. That is what this is about! I’m going to show you how I did it, so you can be confident that you can do it, too, and you can change your life! Applying yourself is where it’s at, it’s having the right mindset to go and dominate in your own market and that’s where it comes down to. Do you believe that you can do that? But, if you really want this, you gotta have that burning desire, you gotta want this so bad, for this to happen! And I’m here to help you.
Watch the Episode:
- 7-day New Market Challenge results.
- My new mail piece.
Mentioned in this Episode:
REINetwork.com/downloads – Get some of my free resources.
Title: Marketing results 7 days into a new market
Gavin: Hey, guys! How’re you doing? Welcome back to the REI Network Podcast with me, Gavin Timms! I am excited On my last episode that I did, go check it out, we went into a brand new market., setting up systems and marketing for a challenge that we were doing. I did three different types of marketing. I’m gonna dive into more detail right now and we’re gonna look at the results in the first 7 days.
So, What we did is that I pulled the list, 3,197 records, we took that list, I pulled it from ListSource, I sent it to BatchLeads, I got it skip traced, and then sent it to the marketing channels. Now, we did direct mail, we did cold calling, and we did text messaging. So, in the first week of cold calling, I’ll give you the hours, 25 hours of cold calling, is giving us 24 leads, which is insane, that’s the best I’ve seen in years. Even in my market, that’s just me being completely honest, has been insane.
Then, we had a new mail piece, that I’m gonna be doing in another episode just on direct mail to prove it’s not dead. It hit yesterday as I record this. Within 24 hours, and I sent out 3,197 pieces, we had 47 calls. Which is a 1.5 response rate so far. So, when I say within 7 days, obviously it took time to actually hit. When we got the first call, within 24 hours, we got 47 calls and we’re working them. So, it’s insane, we’re trying to get the notes in the CRM, we’re trying to get offers out, it’s kind of chaos right now because I wasn’t expecting a 1.5 response rate, especially in 24 hours, plus the cold calling. We’ve only sent 500 text messages and got 1 lead but we are working them.
This mail piece, like I said, I’m gonna be doing a session just on direct mail, exactly what we did when I have the results a little more in terms of how many offers have we made, how many deals did we get in the contract, what did we close. I’ll show you the mail piece, and I might even give you a little giveaway as well where you can where you can set up exactly the same things.
So, that’s what I’m working on. Here’s the thing guys, how much do you want it? We’re in the middle of a challenge where I’m gonna be showing all the numbers, how much I spend to do this, so you can get a reality of what my return on investment is. I’m doing this100% virtually. I’m not the one, I’m outsourcing everything. I’m working on the business and not in it. My partner, Chris, on this, he’s also virtual and we’re excited. So, we’re gonna be talking again doing 4 direct mails so you can see the piece. And this is for houses, by the way, remember. The last time I normally get is half a percent or a little better, ⅔ of a percent. But this new mail piece has been an absolute game changer and I’m excited to do an episode on that. So, stay tuned! Make sure you like and subscribe so we can do that.
Now, remember, when these leads come in, because it is hectic, we’re answering the phone, live. I was on a coaching call the other day when the first one hit. We have 5 in the first hour that hit and we are answering the phones live and sometimes if they’re coming in back to back, like at the same time, we’re calling them immediately back. You’ve got to do this with your direct mail. I would not use a voice mail answering service. I wouldn’t do it. If you’re spending the money, answer the phone or get someone that can answer the phone because your contact rates will be up, and so what? You’re gonna get people that say, “Take me off the list.” And I’m classing them as all the leads. I’m just saying, we have 47 calls so far. Actually, we just got another one in I just refreshed my screen here and we just got another one so, we’re at 48. But the numbers that I gave you are in a 24-hour period. So, I’m excited and we’re gonna see what we can close. We feel that there’s at least 3-4 in there that we can get if not, more, as we try and get these offers out, and obviously, there’s follow-ups. So, we did that.
Also, with the direct mail, we got our first contract signed yesterday. This, believe it or not, was the first cold call lead that came in. We had 25 leads in cold calling and the first lead that came in we just contracted in 7 days. So on Monday, we started, the Monday after we actually got the contract on it which was yesterday. That was the first lead in the CRM, it’s insane. So we’ve locked it up, we’re gonna be trying to move that now. It’s gonna be a wholesale deal. So, I’ll give you the numbers when we do that. So, we have one under contract in 7 days from cold calling, we’ve got all these direct mail going, we’ve got loads more on follow-up. So, we’re gonna be squeezing some good deals out of this. And if you look at the ROI, I mean, you can work it out. 25 hours, 5 dollars an hour, for the cold call so far, 25×5 is 125. So, $125 for the VAs plus, obviously purchasing the list and tracing it, and then on the direct mail to send out 3,197 pieces. You can kind of see the budget coming together, but it’s about what is the return on this. And so far, it’s been insane!
So, when I set this up in different markets, it’s not gonna perform. This is one of the best I’ve personally seen. I’m just being honest with that. I didn’t know how it was gonna perform. My expectations with direct mail was gonna be half a percent to 1% even with this new piece, but the new piece has been a game changer. I do believe we’re gonna get over 2%, guys with houses and I’m gonna do a case study on this. I’m gonna be talking to you about it. I’m gonna invite you in that live and show you exactly what we did because I want you to be able to do the same thing if it’s gonna work for you. So, that’s what we’ve got going. So, one deal under contract in 7days, brand new market for me and we are now going at it. We’re gonna see what we can do. Because I wanna install that you can do this too and the way that we’ve explained this in the challenge, it can be done by you or somebody else, it just needs to get done. You can wear every hat, you can obviously outsource it.
I called the business REI Network for a reason, because networking is everything. So, that is what we are trying to demonstrate and do. So, make sure that you, again, like and subscribe, stay tuned because I got some more good stuff coming. If you haven’t already, I got some free giveaways, reinetwork.com/downloads make sure you’ve got my email list so you can get this alert when I do the case study I’m gonna be doing in the next couple of weeks. When I’ve got deals in closing or closed and you’re gonna see how many contracts and I will give you everything, how many contracts did we close, how many are set to close. You’ll see the numbers from the marketing, the systems, and I’m gonna show you all the profits and I’m gonna prove everything that we do, that we do deals in a competitive market. It’s just about how you apply yourself, it’s not the market it’s about you.
Applying yourself is where it’s at, it’s having the right mindset to go and dominate in your own market and that’s where it comes down to. Do you believe that you can do that? And there’s no better way to get me excited because I do it on a day to day, but to get excited, going in front of everyone. We have 800 people in the challenge. We gave VIP members that we are doing coaching calls with right now and I have to perform. And I’m putting it all out there and that’s what excites me to prove what I teach is what I do. I’m not asking you to do anything that I’m not doing or my team’s not doing. So, it has been a game changer. So, again check out more episodes to come. I’m gonna get one of my business partners on and we’re gonna look at how he’s handling the calls, how he locked up the deals from the sales cycle. He’s gonna be teaching you that. We’re gonna be looking at the marketing, the KPIs, and then the overall profits to say actually what if you did the same thing as me? What could that do for your life and get you to where you want to be?
We talked a lot about, in our coaching, where are you now, where you wanna be and how are you gonna get there. And that’s what this is about. I’m gonna show you how to get there so you can do it yourself and you can change your life, whatever it is, you gotta have some burning desire that you want it. You gotta want it so bad for this to happen. I can’t want it more than you. You need to want it and if you work hard, guys, I’m telling you, within 6 months you can change the game. I’m getting results in one week and you might say, “Well, it’s you” All these things you could say. Alright, fine. I’ll give you three months, I’ll give you six months to do it. Whatever it is. And you can change it. Just think about the effort that you’re putting in, is not forever. It’s about now, to get where you’re going, to get results, to start outsourcing, putting better systems in place, working on the business and not in it to achieve what you want to achieve. And this is gonna be different. You might be good with 100 grand a year. You might be good with 300 grand, 500, 700 thousand a year, million a year. Everyone’s goals are different and it doesn’t matter what your target is, it’s all achievable.
You can do millions in real estate if you want. And obviously, it comes with more things, more overhead, more marketing, more people, if you wanna do millions. But maybe you’re content. What if you did one deal a month? If you did one deal a month, you can net 100 thousand a year. Absolutely, you can! And that is realistic, because if this is not part-time and you wanna take this seriously. That’s what you need to be looking at, and then we’ll 10x that with help of VAs, and outsourcing, and using people, building relationship, networking, to get where you’re going. You’re gonna change the game, you’re gonna change everything, you just gotta want it. And I’m telling you right now, I believe that you can do it if you apply yourself. It’s only you stopping you, nobody else.
No one else is stopping you, it doesn’t matter if you don’t have money, work harder! If you have money and no time, put systems in place and get people working with you to get them results. It doesn’t matter the way you look at it. It’s about applying, staying disciplined, dedicated to the cause every single day, making sure you’re hitting your numbers. The numbers in real estate will never lie and that’s the good thing. When I go live and I go and do this in front of hundreds of people, then you’re seeing the numbers as they come in. I don’t know how it’s gonna go. But that’s the exciting bit. We said, “We’ll give everyone’s money back in VIP if we don’t get a contract. We did it in 7 days. Not only did I wanna get a contract we wanted to get it in closing. Not only do I wanna get it in closing and sold and paid. I want multiple contracts in closing in 30 days. But that’s just my ambition to do that and I want all of my marketing channels to perform to show that it’s the marketing that you focus on is the marketing that works, and you’re gonna be seeing it live, if obviously in our group.
Now, I’m gonna be doing a case study showing the timelines of this. Showing when the automation happens in the CRM. Here’s the lead, here’s when it came in, ‘cause it’s time stamped. So, you’re gonna see it. I’m gonna be giving you the budget. I can in-store believe in you could do the same thing if you apply yourself. Get out of the CRMs, get off the technology, get on the phone, and get making offers, get following up, and you’re gonna change the game.
Alright, guys! Look, I appreciate you all, again, like and subscribe, drop me a comment, let me know if this is helpful, let me know what you wanna see from this challenge, what episodes can I do for you to serve you., if you’re gonna be listening to me I wanna make sure that I’m doing that, and I will see you on the next one. Alright! Thanks, guys!