Is this a cure-all? It requires work… both mental and physical… and many advisors are allergic to both. But… if you are willing to put in the effort, this tool works! How well? Here are the numbers you should work with…
- 5 out of 10 pieces will be ignored… that means 5 pieces WILL be noticed
- One out of 10 to 20 will generate business… so worst case that’s a 1 out of 20 (or 5% success rate). How does that stack up with your current marketing?
So… if this tool is so great… why isn’t everybody using it? I already told you! It requires effort! 😊
What is Grandma’s Favorite Tool? The handwritten note… or personal letter. These two tools are the most effective, easy, inexpensive… and overlooked marketing tools.
Why to they work? Because they get people’s attention. How often do you get a handwritten note in the mail? It stands out. The whole message can be handwritten, like on a post card. Or you can write a handwritten postscript at the end of the personal letter (more on this in the article below).
And it works because it is personal. If done right, it is going to seem like you are writing to them personally, and not just a generic letter. What would a personal letter look like? Here are some general rules:
- Keep it to just one-page
- Make it personal. You can do this in several ways even if you do not know them…
- Talk about the street they live on
- Use the information you have from your list (either warm or purchased)
- Talk about their age group
- Birth month (yep, you can buy lists with this)
- Home ownership
- Length of residence, home value
- If they have an elderly parent
- Occupation
- Donor to charitable organizations
- Presence of children
- Lifestyle interests (YES! Talk about dogs, sailing, cycling, etc. by buying a list that identifies these people)
- There are so many other things you can target… but the best thing for you to do is talk to a list broker and tell them what you are trying to do and brainstorm ideas in their lists
- Make paragraphs short
- Indent your paragraphs
- Use… just a little bit of underlining and writing in the margins… but not too much
- Do everything in your power to keep it from looking mass produced
- Do NOT enclose a brochure or business card
- But do enclose something unique… a newspaper clipping, an interesting paperclip (Google it 😊), fortune cookie message, a dollar, etc.
- Sign your letter in a color different from what you used to print the piece
- Write a handwritten p.s. (see next article)
Should you write just once? No, write them 3 or 4 times and then pick up the phone and give them a call (you can get this from your list broker too). They will recognize and actually be happy to hear from you. All of them? Nope. Most of them? Yep. Will they all buy? Nope. Will one out of 20 buy? Yep.
And how much money did this cost? For 20 targeted people… around $50. How much could you make from one sale? A bit more than $50?