SMS Marketing with Launch Control - What's Your Deal Conversion Rate?

I have a question for anyone using Launch Control or similar platforms for SMS marketing for land. How many outbound texts on average would you say it takes to get a deal? I’ve been using Launch Control for a month now, and I’ve sent about 10,000 texts. At this point I don’t feel like I really have any solid leads or potential deals, but I’m not sure if 10,000 texts is too small of a sample size. I find text message marketing to be extremely time consuming compared to direct mail, so I wanted to see if anyone can share their experiences using sms marketing to see if it’s worth it for me to continue doing.

@seanwebster what are you offering for your deals?

I sent a few hundred texts, got several talkers and closed 2 last year.

But, I’m willing to pay a bit more than absolute rock bottom.

@scottbraden It depends on the market, but always 50% or less of market value. Most of the responses that I get are angry people who are asking for a lot more than what the market value of their property is.

@seanwebster if I was in your shoes, and not knowing your experience / skill level, I would do the following:

  • revisit my list targeting. Make sure I’m only contacting property owners who have info that indicates they might be motivated. This could be out of state / absentee, it could be a tax / divorce list, etc.
  • text smaller batches (start with a few hundred) with “are you interested in selling?” instead of “here’s the price” - yes it’s more work but if you target right, you are talking to the owners you want to talk to.
  • that way you don’t have to comp and make offers until you’re sure the owner is at least entertaining an offer. Yes, most will be looky-loo’s who are just bored and curious. You can manage around most of those by having a quick phone call before you do the work to comp and offer, and qualifying them.

@seanwebster seems like a lot has changed since the fiasco back in October. From what I’m seeing and hearing, many are driving efforts elsewhere due to the actions of carriers. We’re even seeing tighter restrictions with texting in general.

Also worth noting here, we’ve seen an uptick in mailing and more buzz around cold calling recently (recent as in the last 2 months).

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I actually just had a conversation with Callan about this today. It might be of interest to those following this topic.

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