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Law of 29

By
Mortgage and Lending with Emery Federal Credit Union

What  is drip marketing? Drip marketing is a direct marketing strategy that involves sending out several promotional pieces over a period of time to a subset of sales leads.

Is this process effective and how can you begin planning your drip marketing campaign?

The phrase drip marketing comes from the common phrase used in agriculture and gardening called "drip irrigation." This is the process of watering plants or crops using small amounts of water over long periods of time.

It was developed in response to the "Law of 29" in which many marketers believe that an average "prospect" will not turn into a client until they've viewed their marketing message at least 29 times. While I do not necessarily agree with the Law of 29, I do believe in the need to stay in touch with your current and prospective clients in order for them to purchase from you. There are way too many competitors out there, not to.

The method of drip marketing can help you avoid the sell-produce curve. An effective way to use drip marketing is to consistently do something each month to keep your name in front of your current clients and prospective clients. By doing this you diminish the sell-produce curve and will find that you will have a steady amount of business coming in the door.

The best thing about drip marketing is it requires a plan of action. By creating this plan and following it throughout the year you can guarantee that you will be consistent with your marketing all year long. I suggest that you develop your drip marketing campaign when planning your yearly marketing calendar.

It all sounds great, but where do you start? To help you I've listed a plan of action to get you well on your way to developing a productive drip marketing campaign:

  • Step 1: Develop your Plan (Plan something EVERY month)
  • Step 2: Strategize the Execution of Your Plan
  • Step 3: Decide who your Target is.
  • Step 4: Create consistency by developing your slogan or phrase. Then place it on every promotional and marketing piece.

What methods can you use for your drip marketing campaign? Here are a few that will get you started:

  • Postcards
  • Newsletters
  • Email Newsletter (You'll have to be careful of spam filters)
  • Promotional or Sales Brochures

Think of your drip marketing campaign as a way to nurture your current and potential clients. You campaign should keep them aware of your products and services. With this thought in mind your campaign will succeed

Todd and Danielle Millar
Glenn Simon Inc. - Edmonton, AB
Nineteen years of excellence!

Another great way to get your information out and save money is team up with someone else in a similar industry - ie stagers and realtors share the cost of flyers in the Sunday Paper. You each get half the page or you can cut it up more and more.

Also, I don't know if it is safe, but pay kids (or somebody) to hand out your  flyer in your targeted area.

May 17, 2007 09:51 AM
John Cashion
Academy Mortgage - Dover, DE

Kevin I love your blog...so well written and professinal.

countrywide is the #1 mortgage company in the US!!

visit me online at johncashion.com

Dec 03, 2007 12:48 AM
Krista Fuchs
Prudential Fox & Roach - Exton, PA
Chester County Realtor - (484) 459-8025 - Home Buying and Selling
Just came across this from a search.  Great post!  I didn't know what a drip program was even though I was doing it!  I have to say though I wasn't doing it to past clients, not monthly.  So thanks for posting because now I'm going to start!
Dec 09, 2007 12:26 PM
Carlos Scarpero
Epoch Lending - Centerville, OH
Mortgage Loan Officer
I definitely agree. You have to get your name out there over and over. I wonder where the 29 comes from. KW calls it 33 touches. Either way, its way more than most people are doing.
Jan 02, 2008 11:39 AM