Sometimes the most effective strategies are the most simple. Today we’re breaking down why list management isn’t, mathematically, worth your time.
What Are These Lists?
Wholesalers look for discounted properties owned by people who want to sell quick, for cash. To find those people, there are many lists:
- Equity lists
- Absentee owner lists
- Tax delinquent lists
- Code violation lists
- And more
What’s Up With List Management?
Some Wholesalers are tempted to save some money by eliminating people from their mailing list over time – don’t do that!
Here’s an example illustrating why we think the math won’t work out in your favor:
- Let’s say you send 5,000 pieces of mail every week for $0.32 / piece of mail, and you have a response rate of 1% – that’s 50 calls per week.
- Of those 50 calls, one or two are “warm prospects” while about 10 people want to be taken off the list.
- If you eliminate those 10 calls from your list, you will save $3.20 / week. Someone also has to take the time to remove those names from the list.
We don’t think that $3.20 is worth the time it will take you to complete the task – and it’s definitely not worth the potential errors caused by removing someone from your list (and maybe they will want to sell in six months, anyway).
Your time is worth more than that!