Using the “Rule of 7” to Score More Deals

Cam Dunlap here with a post that’s packed with actionable info, so let’s get right to it.

If you’re having trouble with your marketing… if you’re not getting the results you expect… if you’re struggling to get the number of leads you want — then you need to learn about the Rule of 7.

Let me back up a second, though. If you’re familiar with my process, then you know about my “Investor Success Formula.” 

More leads = more offers = more deals = more $ in your pocket.

So if you’re struggling in your REI business, the solution is looking at this formula and seeing where the disconnect is. If you need more deals, that means you’re not making enough offers. If you’re not making enough offers, that means you need more leads.

Today, we’re focusing on a strategy that will allow you to generate more leads. This works with direct mail, cold calling, and really any type of marketing you’re doing.

Friends, we’re in the marketing business! Your profits are in direct correlation to your marketing efforts.

Know this: You need to do consistent marketing. That’s absolutely critical, because….

According to the Rule of 7, it can take as many as 7 exposures to an idea for a customer to be primed enough to respond to it. (See, consistency!)

In other words, you need to get in front of your customers 7 times before they’re going to give you the maximum response rate to your idea. 

If you’re trying to get sellers to call you with direct mail, you must mail to them 7 times.1 time with 1 message just isn’t going to cut it.

It should be 7 times with 7 messages to increase your response rates and the number of leads.

How the Rule of 7 works

Let’s say you send out a postcard as Piece #1:

• compelling marketing message
• calls to action
• incorporated the ability for sellers to text you to your business phone number
• your website is included
• full color

It looks fantastic.

And it was ignored. No calls. No texts. No leads.

Piece #2 is a letter:

• written perfectly
• looks amazing

It, too, is tossed right into the recycle bin.

Piece #3 is a new postcard:

• it went out a couple weeks after your 1st postcard
  • postcards have a 100% “open rate” b/c there’s no envelope 
• your message is at the top
• you get lucky — your postcard happens to be laying on the top of the mail pile
• seller is interested, they want to respond… they walk in their house and hear their kids are screaming and crying… they throw the mail in the air running to take care of their kids
• when all is well, the seller, who’s now flustered and distracted, gets back to the mail, grabbing a bill and getting rid of the rest

Boo.

So, move on to Piece #4, a yellow letter:

• it’s handwritten
• it looks awesome
• it’s totally different than the other 3 pieces
• but, the seller thinks all the mail is trash and tosses it all into recycle

Here comes Piece #5, another postcard: 

• again, it catches the seller’s attention
• they sit down at their desk, w/the postcard in front of them and check out your website 
• then the seller gets a call from grandma and has to deal with a family emergency
• they forgot about the postcard — it’s either in a messy pile on their desk, on the floor, or who knows

Piece #6, a letter:

• Bummertown, the letter goes to the wrong mailbox, then it’s trashed

Here you are with #7, another postcard:

• the seller sees it
• they go straight to their computer, call or text you

Finally! You have a response. A seller has reached out and they’re motivated. Happy dance.

But here’s the thing…

As investors/marketers, we never know which one of those 7 steps is the one that gets a seller to respond. 

Consider this, when postcard #3 arrived, had the seller not had to deal with crying kids, maybe she’d have responded to the postcard. We just don’t know.

Since we never know which of the 7 pieces is going to be the one to illicit a response, we must work 7 “touches” into our marketing philosophy.

When my VAs (virtual assistants) are cold calling sellers, they’re calling 7 different instances. And we’ll change it up: they’ll call in the morning, at night, try a weekday, a weekend, and so on.

However it’s done, you need to reach out at least 7 times.

Now, here’s how to apply this to your business… 

Rather than send 1 piece to a motivated seller list of 700, send 7 pieces to a list of 100. Because 100 sellers are way more likely to give you more responses than 700 sellers when you consider the Rule of 7. 

And, it costs you the same amount of money — sending a postcard to 100 people 7 times is the same amount of money as sending a postcard to 700 people 1 time. But you’ll get a much higher response rate if you go to 100 people 7 times, because you’re following the Rule of 7 principle. 

You turn up the volume, so to speak, with repeat touches. 

Think about a competition show — how many times does the camera pan to the judges who have big ole Coca-Cola cups? Not just once, right? Multiple times. And then it cuts to a Coke commercial. The next day, you’re reading a magazine and there’s a Coca-Cola ad. A week later, you’re driving down the road and see a billboard for Coca-Cola. It’s the same thing! 

Coke is getting in front of you multiple times, regularly and consistently. 

So when you’re primed, you’re thinking of Coca-Cola.

Final note…

When we talk about the Rule of 7, we have to understand that not every postcard or letter or call is going to create a deal. 

But if we’re not sending postcards regularly and consistently… if we’re not making phone calls regularly and consistently… if we’re not handing out business cards regularly and consistently… if we’re not driving around our areas with our car magnets, regularly and consistently… if we’re not doing billboards or bandit signs regularly and consistently — then we’re not going to create deals.

If you’re not consistent, you’re nonexistent. Be consistent if you want to see results. 

So, if you stay consistent, you will find success with the Rule of 7.

I suggest you apply that rule to your business asap… and watch your deals soar.

You got this,
Cam