The 80:20 rule and finding new lettings instructions

The 80:20 rule, or Pareto Principle, applies to many things in life and especially in business.

It is likely that 80% of your revenue is generated by just 20% of your customers, and yet, 80% of your costs and resources are being used to generate that 20% of customers.

Given a choice between contacting two landlords with properties to let in your targeted area every day directly (by phone, letter or email), or printing and delivering the many hundreds or thousands of leaflets it would take to make contact with the same two landlords (if you knew where they lived), I know which one I would rather do.

Question: How much does it cost to print 1,000 leaflets?

Answer: My searches on the internet found the cheapest was around £50 per thousand (including artwork).

Question: How much does it cost to deliver 1,000 leaflets?

Answer: My investigations found the cheapest Solus distribution to be around £25 and they had a minimum delivery order of 5,000.

Question:How long does it take to manage the process of designing, ordering and delivering 1,000 leaflets, and what is the cost? 

Answer:The national minimum wage for someone over 21 is £6.19 per hour, and I suspect that both you and your staff are earning rather more than that.

 Question: How much better would it be to use your staff’s time to engage with potential landlord clients rather than using them as expensive leaflet distributors?

Answer: Making just two property traces every day via traceWise could cost as little as £11.50 each and you would obtain the property owner’s name, current address and, in the majority of cases, telephone numbers and even email addresses! All you have to do is supply us with a full property address, we do the rest!

Making well-planned and effective contact can then turn this vital data into real business and revenue.

With the average UK landlord owning 12 properties using traceWise can work out at less than £1 per property.

Question: Can you afford to use traceWise?

Answer: Can you afford not to?

Gavin Nathan
Managing Director
traceWise Ltd