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There is a growing belief among the top industry performers that DLs and letterbox drops are extinct – an ancient relic from before digital marketing reigned supreme. According to Digital Marketing in Real Estate 2021: Uncovering the Skill Gap, 76% of agents are still doing letterbox drops, used primarily by agents who don’t have a clear marketing strategy. But we believe there is a bigger picture objective for letterbox drops and DLs. You.
Why use Letterbox Drops?
The 2022 letterbox drop has a singular purpose; brand and top-of-mind awareness. Before my career had anything to do with real estate, I knew who the leading local agents were. Each week, a new DL would arrive in my letterbox with the latest sales, and while I had no interest in knowing what they were, my eyes couldn’t escape the smiling face and name in bold.
While this is purely anecdotal, there lies a grain of truth. Some clients’ first introduction to an agent is through a letterbox drop. A repetitive familiarity with a name and face, pairing those names to signboards and other marketing campaigns. Letterbox drops help to make your name top-of-mind when a conversation shifts to real estate or moving trucks are spotted.
Is it worth it?
Well, it can be. Depending on your area’s demographic, a traditional marketing strategy might be much more effective in reaching your audience than a digital one. It is important to remember that only 30% of Millenials own the property they live in, compared to 54% of Gen Xers and 68% of Baby Boomers. While generations aren’t monoliths, the demographics that hold the stock you need to move and those you need to market yourself to lean toward being more susceptible to traditional marketing.
So, is traditional marketing extinct?
In conclusion, we don’t believe it is extinct. Looking back at Digital Marketing in Real Estate 2021: Uncovering the Skill Gap, top performers see digital marketing as important to current success, and we agree that this is undeniable in 2022. But we believe that the marriage of robust, tailored traditional and digital marketing strategies is the most effective way to build your brand and get your foot into more doors.