The latest report by researcher Roy Morgan reveals that unaddressed mail is read by more than 10 million people aged 18 and over every week. For any business, this represents a powerful opportunity to market services and products. For real estate agencies, the news gets even better. Here we reveal three facts about letterbox advertising that will put your real estate business streets ahead.
Fact 1: Letterbox advertising is consistently in the top three print media to reach people intending to buy a house in the next 12 months.
To be more precise, it is the top medium in five states, including Victoria, New South Wales, ACT, Queensland and Western Australia, and second by one single per cent in South Australia.
So why is letterbox advertising so effective for the real estate industry? Why are people more likely to respond to direct mail over advertising in local newspapers or on the radio, for example
To set the scene, consider the Australian couple who delivered one thousand letters begging homeowners to sell them a house. The Daily Telegraph reported that the couple spent eight hours doing a letterbox drop in their dream suburb of Paddington, in Sydney's east. They had a dozen responses with offers.
When you look past the novelty factor, the letterbox drop worked for three main reasons. Firstly, it was targeted – the couple was speaking to a small, select group of householders in their desired area. Secondly, the channel they used was relevant to their message. One of the couple was a marketing professional, and she knew that they needed to capture people’s attention in the right place at the right time. Finally, the couple had a poignant story to tell and they chose a persuasive medium through which to tell it.
The fact is, while letterbox advertising isn’t new, it is one of the single most effective marketing channels to reach people in the time and place where they are highly susceptible to your messages: in the comfort of their own homes.
Plus, unlike some other marketing channels, letterbox marketing has not been diminished or made redundant by the online revolution. In fact, you might argue that online has made letterbox advertising more powerful. With less post in the mailbox competing for attention, your real estate leaflet has the opportunity to truly stand out and elicit a response. But more on that later...
Fact 2: There are 3.1 million renters in Australia who are potentially looking for a place to rent and who read unaddressed mail, every week.
Unaddressed mail is not only the best way to reach homebuyers and sellers, it can also help you tap into the renters’ market – and a lucrative one at that.
According to the IBISWorld Industry Report of Residential Property Operators in Australia (February 2014), there are an estimated 2.4 million rental households with no fewer than six million residents in Australia. Fact is, becoming a homeowner has long been the Australian dream, but for many this remains more of a dream than a reality.
What comes next is a case of simple maths: every week, there are 3.1 million renters who are potentially looking for a place to rent and who read unaddressed mail. So if you are promoting your rental property services, letterbox advertising is a good place to start.
Fact 3: Combining unaddressed mail and online marketing will reach more consumers than any other media
While not only letterbox marketing has not been replaced by online, you can improve your reach by combining it with online marketing. Online and offline are perfect partners for promotion, with the ability to reach consumers at different times, in more places, and while in different mindsets.
One method real estate agents are exploring is QR codes – that is, those clever pixelated images that can be scanned by smartphones to take users to specific online content. The benefit of a QR code is that you can keep your leaflet free from clutter and excess words by putting the detailed information online. You can also drive consumers to an online enquiry form to capture their information. QR codes are the perfect way to tap into the power of online and offline, and simultaneously reach out to both tech-savvy and tech-phobic audiences.
There are many other ways to combine online and offline marketing, too. After all, once you have discovered the power of letterbox advertising, the opportunities are yours for the taking and it won’t be long before you have buyers, sellers and renters right where you want them.
Thinking of planning a flyer drop to the local neighbourhood in the coming weeks? Jump onto our quick and easy online marketing portal and grab an instant quote in just seconds! Click on the button below to get started:
By Ryan Christie – Marketing Manager – Local Direct Network (LDN)
Ryan heads up all things marketing at LDN. Driven by the power marketing can bring to small business; Ryan’s key objective is to provide SME’s with the latest relevant information & tools to ensure their letterbox advertising is successful and helps grow their business. Now and again you can find Ryan on Google+, LinkedIn and as a contributor on Flying Solo.