I believe the success of such things are influenced a lot by the area of the country in which you operate. I operate in the Los Angeles area which is extremely competitive. My local direct mailers advised against doing the letter format as we are constantly bombarded with such mailings. They advised just doing a postcard with the offer so people could see the offer and decide. Most around here can spot an advertising piece like the BB letter and just toss it without opening it. Most of the time they are loan people looking to do a refi for you.
A lot of people on these boards attest to BB letter success so I had to try it. I sent out 4700 mailings over two weeks. We are two weeks out from the first drop and we have not even received a 1% return. Obviously the money and time expense is not worth it. I get the impression that in smaller towns and rural communities where the pace is slower and they are not subjected to bombardment of mail we receive here the letters would be much more effective as people have posted here.
Next week I am hitting the same homes with doorhangers with agressive offers (not as aggressive as the BB letter). If I get a decent return I will hit them again in 10 to 14 days with another doorhanger. Otherwise I will follow up again with postcards. Since I am hitting the same homes over and over again I would expect better than average returns, but I should be able to tell which worked best.
After, or during this sequence, I plan on doing the BB letter as a postcard to a different zone of homes and see what happens. I would think it would be more effective since they will at least see the offer without tossing it.
I do have to say that I did receive some very positive feedback from the people who did redeem the offer. They were very excited. Nice to have a POS that can track the new sales I will receive from the new customers generated.