Today’s REI Classroom Lesson

Alex Pardo shares his secret to getting the most out of your email list.

REI Classroom Summary

There’s multiple reasons why a marketing email can be unopened. Alex explains his strategy for retargeting his list of unopened emails.

Listen to this REI Classroom Lesson

Real Estate Investing Classroom Show Transcripts:

Mike: Welcome back to the Flipnerd.com REI Classroom where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now let’s meet today’s expert host.

Alex: Hey guys, it’s Alex Pardo. I’m excited to host another REI Classroom, and today I’m going to share with you a nifty email marketing tip that’s going to help you sell more of your real estate deals.

Mike: This REI Classroom real estate lesson is sponsored by UglyOpportunities.com.

Alex: So a lot of people don’t realize that whether you’re using ConstantContact, Aweber, iContact, whatever email client, GetResponse and MailChimp, I think it is. There’s a setting in there where it allows you to pull a report of the unopens, okay? So the people that when you send out an email blast, you’re able to pull a report of those people that did not open the email. What this allows you to do is re-market to those people.
Now, I think a mistake that the people that are aware of this strategy is that they leave the subject line the same. So I think the biggest reason that we’ve had some success doing this is that you want to change and make it an attention grabbing subject line, okay?
So I’ll give you a perfect example. A couple of months ago we were marketing this property. Forty-eight hours had gone by and we hadn’t gotten too much traction on it, and we realized that for some reason our emails were going into spam. We typically get about a 15 to 17% open rate, and that wasn’t happening. We were getting, like, somewhere in the 8 to 10 range. What we did was we resent the email the next day to the unopens, and we quickly got a contract on that property. So that’s just an example, a real life example, of how we use this strategy in our business to get properties sold.
One of the things you want to avoid is burning out your email list. I know investors and wholesalers that will send out multiple emails a day, and I think that’s a quick way to burn out your list. So if you want to send it daily, this is one strategy that you can employ is essentially sending to the unopens because obviously they haven’t seen the first email. So to them it would have been the first email you sent. With so many emails going out these days, things get lost in the shuffle, and so you have to figure out how to stand out from the crowd.
One of the ways you can do that is what I alluded to earlier is an attention grabbing subject line, and the second way is by doing this. So I know Aweber, which is the email client that we use in our business, there’s an unopen feature. And I’m pretty sure that most other email clients out there do have this option.
So whatever you’re using, I encourage you to check it out if you can’t find it, contact support because I’m pretty sure they would have it, and, like I said, I know Aweber for a fact does have this. So if you’re using Gmail and you’re just getting started in the business, you’re building your buyers list, use the read receipt feature with Gmail. And if for whatever reason you see that a buyer hasn’t opened your email within a 24 to 48-hour period, don’t be shy to resend the same email, just maybe change the subject line. So hopefully you found that tip helpful, and I hope it helps you sell more properties.

Mike: HomeVestors, the “We Buy Ugly Houses” folks, is a franchise system of hundreds of real estate investors that have purchased over 65,000 houses. If you’d like to learn more about the most powerful real estate investing system in existence, whether you’re a pro looking to take your business to the next level or whether you have no experience at all but a burning passion to be successful in real estate investing, please visit FlipNerd.com/ugly to learn more.
Please note the views and opinions expressed by the individuals in this program did not necessarily reflect those of FlipNerd.com or any of its partners, advertisers, or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
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Alex Pardo has been investing in real estate for 9 years. Before he started working on his real estate investing business, he worked for GE Consumer Finance in their Financial Management Program. He quickly realized that staring at Microsoft Excel for 14 hours a day was the fast lane to the dreaded rat race, so he completed the 2-year program, and decided to backpack around Europe and Africa for 3 months, before diving into Real Estate full-time. Two months later, he closed his first deal and made $44,000. Almost as much as he made in 1 year at General Electric, and needless to say he hasn’t looked back. Fast forward to today, he has started several businesses and has learned as much from his failures as he has from his successes. To date his company has closed over 250 real estate transactions and has helped countless homeowners and investors in the process.