Email marketing is a super important component to wholesaling real estate. Honestly, I don’t know where I would be without. Somehow, I’ve managed to survive 3 years without paying for it. They almost got me the other day when I hit my monthly send limit. Lucky for me it reset the next day. Needless to say, Mailchimp has a free package that is pretty awesome.
If you are building a real estate wholesaling business, you definitely need to sign up for an email marketing service. I also use Convertkit and Close for other aspects of my business, but Mailchimp Free Version is still the winner.
Mailchimp Review for Wholesale Deals
I can’t speak for other industries, but Mailchimp has worked well for blasting out wholesale deals. My wholesaling business sends out about a dozen campaigns a month. My cash buyer’s list consists of about 600 subscribers. Both of those metrics fall under the threshold of Mailchimp’s free plan.
The deliverability rates have been solid. I am at a 95-97% deliverability rate with Mailchimp. However, those email stats don’t include emails that end up in spam folders. My biggest concern with email marketing services is the dreaded spam folder. Here are some of my stats from recent email campaigns.
I recently started using Convertkit to see if deliverability is any better with them. I’ve heard good things about Convertkit and I am always looking for something better. So far, I can’s say it is much different. Although it’s been a small sample my successful deliveries, open rates and link click rates are pretty similar.
There are certainly things you can do to improve your deliverability with all emailing services. Avoiding certain keywords like buy, sell, for sale and selling. Being compliant with CAN-SPAM, always getting permission to send emails, asking subscribers to whitelist your email address, etc.
Mailchimp Free Version
Marketing your wholesale deals with Mailchimp is a no brainer, especially if you are newbie. It works, and best of all, it’s free! Here is what you get the with Mailchimp free verison.
Mailchimp Free Version:
- 2,000 contacts
- Monthly email send limit 10,000/mo
- Marketing CRM
- Creative Assistant
- Website Builder
- Mailchimp Domain
- Forms & Landing Pages
Just to put those metrics into perspective, I have been wholesaling for 4 years and have built up a million dollar wholesaling business. I still use the Mailchimp free version for marketing my wholesale deals. Do the math. I have 600 contacts on my cash buyers list (well under the 2,000 contact limit) and probably send out 10-12 deals per month. As long as I don’t send over 16 campaigns per month, I’m good. (10,000 monthly email limit / 600 contacts = 16.67 campaign per month allowance.)
I’m sure there will come a time when I need to upgrade to the “Essentials Plan” to increase my send limit. But if my business continues to generate well over 1MM in revenue I might be able to squeeze in that $11/month into my budget 😎.