The #1 reason wholesalers fail is because they don’t know how to manage their leads. Let’s face it, wholesaling is sales. The hardest part about being a top performer in sales in consistency.
So why is this? The answer is simple. Lack of follow up. If there is one thing I’ve learned throughout my sales career, relentless follow up is the key to being a top performer. If you want to increase your deal flow and make more money, you need to stay on top of your leads!
I’m not perfect, I struggle with consistent follow up too. But I probably do it better than most. When I was first starting out, staying in touch with my leads was easy because I didn’t have many leads. I had plenty of time to follow up because my pipeline wasn’t full. I also wasn’t busy closing multiple deals a month…. yet.
Fast forward 3 years later, now my wholesaling business is bringing in dozen’s of leads a week. Without a CRM to stay organized and consistent follow up, many of those leads will be left for dead!
That’s why I am such a big fan of RESimpli drip campaigns. I use RESimpli CRM which is an excellent all in one tool for real estate investors. I wrote an entire RESimpli review here.
How I Made $50,000 so far in 2022 with RESimpli Drip Campaigns
This is not an exaggeration to get your attention. I have done 4 deals totaling just over $50,000 so far in 2022 just by making a few mouse clicks. Of course, I still had to meet with the seller, negotiate, put the house under contract and assign it to a cash buyer.
Let’s talk about the most recent deal I closed from a successful RESimpli Drip Campaign. At the end of 2021, I received a website SEO lead and called them right away. Chris picked up the phone and displayed immediate motivation to sell. His furnace just went out and he didn’t have money to fix it (it was winter here in West Michigan), he recently broke up with his girlfriend and the house was a mess. We scheduled an appointment for the following week.
A few hours before the appointment, Chris called to cancel. He said he decided to fix the furnace and is holding off on selling for now. I continued to follow up relentlessly for the next couple months with no response from Chris.
It was now April and I had sort of let this lead go. One day, I decided to go through my older leads and put them drip campaigns. Couldn’t hurt right? I activated an automated drip campaign for Chris and let it sit. He didn’t respond to the first few messages. It wasn’t until the 5th SMS of the drip campaign… he finally responded.
I closed the deal 3 weeks after meeting with Chris and earned an assignment fee of $26,900. Not too shabby. I am a visual story teller so here is the check in case you need some extra motivation 😎.
Would I have got that deal if I didn’t put Chris on a drip campaign? Probably not. It’s all about timing with motivated sellers and if you miss out on that timing you often times miss out on the deal. Chris was talking to a few other “we buy houses” companies and it was my quick response and competitive offer that won him over.
What is a drip campaign?
A drip campaign is an automated marketing campaign that uses electronic methods such as email and SMS marketing to reach their customer. The key word here is automated. Once you have set up the messaging you click a button and all the work is done for you.
Everyone is victim of drip campaigns. An estimated 70% of email inboxes are cluttered with emails from drip campaigns. Sounds spammy, right? So what makes an effective drip campaign?
The answer: SMS drip campaigns. When you setup an SMS drip campaign with RESimpli, it has a personal touch and the text is coming directly from you. RESimpli can use any number you choose (they provide you with phone numbers with your choice of area code). Even though it’s an automated text, it can include the seller’s name and property address to add a personal touch.
RESimpli Drip Campaign Strategy
They key is using the right messaging content, timing and sequence (SMS/email/call). RESimpli allows you to customize all three of these, which I love. My drip campaigns are mostly SMS, but I also mix in a few emails and the occasional phone call. RESimpli also has RVM capability (Ringless Voicemail) if you are into that kind of thing.
I recommend setting up your campaigns to send a follow up at least once a week. If it’s a new lead or potential hot lead, more often is better. If the prospect has been cold for a while you can setup a long-term drip campaign and ping them every couple weeks or once a month. The good news is, there is no limit on how many campaigns you can setup.
You might be thinking, what if someone tells me to STOP or says “Not Interested”? You definitely don’t want to continue sending messages to someone who doesn’t want to be bothered. Well, RESimpli thought about that too! Before you start up your drip campaign, RESimpli gives you the option to auto stop the drip campaign once you receive a call or SMS from the lead. I highly recommend you check this box!
It’s important to have a few different RESimpli drip campaigns since not all of your prospects will be in the same phase of your sales funnel.
What works for me is having two primary drip campaigns. One for warm prospects I haven’t been able to get a hold of and the second drip campaign would be for prospects I already have an offer out to.
RESimpli Drip Campaign for Initial Contact
When I get a new lead, I prefer to follow up directly rather than put them on a drip campaign right away. It’s more personal (and professional) if you can get them on the phone or startup a text conversation when the lead first comes in. But we all know that doesn’t always happen. How many times do you get a lead you’re excited about but after several failed attempts you decide to give up? Now you don’t have to.
The initial contact drip campaign should go something like this.
Week 1: Send SMS
Hi @First_Name, Ryan here. I’m just curious if you had any interest in selling your property at @Property_Street_Address? If not, my apologies for disturbing you.
Week 2: Send automated email (you can setup different templates in RESimpli)
Week 3: Send SMS
Hey @First_Name, this is Ryan. My apologies for the continued messages but we are looking to purchase couple of more properties in next 2 months in @Property_City area and would love to talk to you about @Property_Street_Address.
Week 4: Send automated email
Week 5: Send SMS
Hey @First_Name, selling your house can be a very long process. Let us explain you how we can help you sell your house in 7-10 days for a fair cash offer. Give me a call or shoot me a text when you’re ready. Thanks! – Ryan
Week 6: Send automated email
Week 10: Send SMS (note that I waited 4 weeks to send the next SMS)
Hi @First_Name,
How’s it going? Do you still want to sell your property at @Property_Street_Address? I can make you a cash offer and close in only 7 days. Just need 5 mins of your time to get the offer over. Thanks!
Week 11: Send last ditch effort automated email (I only use 4 email templates, the remaining messages of my drips are SMS)
Week 12: Send SMS
Hi @First_Name!
Ryan here. Apologize to bug you again but we are looking to buy 2 more properties this month in @Property_City area and I would LOVE to speak with you about a cash offer. Please call or text at this number. Thanks!
Week 13: Call Lead (I usually schedule 1 or 2 call tasks per campaign. You can also replace the call with an RVM – Ringless Voicemail)
Week 17: Send SMS (note that I waited 4 weeks for the next message)
Hello @First_Name, it’s been a while! I just thought I’d reach out to see if you’re interested in hearing my cash offer for @Property_Street_Address? We are still looking to buy more properties in @Property_City area and would LOVE to discuss a cash offer. Give me a call and we can chat.
Week 18: Send SMS
Hi @First_Name!
How are you? Are you still interested in selling your property? I can make you a fair cash offer and close in as little as 7 days. If you’re interested, let’s chat when you have a moment. – Ryan
Week 22: Send SMS
Hi @First_Name! Just wanted you to know that we are cash buyers in @Property_City area and we will pay a very fair price for your property at @Property_Street_Address. You won’t have to pay any agent commissions or closing costs. Let me know if you would like to find out more. Thanks!
Week 26: Send SMS
Hi @First_Name! Did you know that we can purchase a house in as little as 7 days? We specialize in buying @Property_City homes for cash and in as-is condition. Give me a call and I can make you a fair cash offer.
Week 27: If no response after campaign is complete move to “Dead Lead”
So there you have it. That is the most common RESimpli drip campaign I use to bring leads back to life. I also use this campaign for newer leads if I am unable to reach them myself after a few weeks. If you are not using drip campaigns in your wholesaling business, you are missing out. Get RESimpli CRM (it’s very affordable compared to other all-in-one CRM’s) and get those leads on drip campaigns today!
Related: RESimpli Review: CRM for Real Estate Investors
Trending: Zero Dollar Marketing Method – Wholesaling Real Estate
