The secrets behind our 20%+ response rate…
At VirginLand, we connect property developers with prime opportunities through our direct-to-vendor (D2V) outreach campaigns. Since our inception in late 2022, we've achieved a 21.3% total response rate from landowners, well above the industry average. Savills estimates that in-house D2V letter campaigns typically yield a 0.5-2% response rate. Here’s how we’ve done it and why it matters.
Why good response rates matter
High response rates are crucial for property developers. They enable developers to build a strong off-market pipeline of opportunities, ensuring a consistent flow of potential projects. Without effective outreach, developers risk missing out on valuable land deals.
Our journey to 20% response rates
We began with standard letter templates, similar to others in the industry. From the outset we were able to achieve >5% response rates, most likely because we are one step removed from the developer – and as such are better placed to build trust with landowners.
We soon realised the importance of high response rates to delivering successful campaigns for our retained partners, so we brought in a professional psychologist to analyse our letter content, advising on all things communication to drive response rates.
As the psychologist began to return quarterly and make more bespoke recommendations for every client, every development requirement and different landowner profiles – we recruited a technology team to develop advanced AI technology that can produce heavily personalised and customisable content for each letter, using the 350+ data points that we collect for every parcel of land that we identify and save. This personalised approach had a significant impact on our response rates.
We’ve sent over 20,000 letters over the past two and a half years, collecting data on every response. This feedback makes our AI content generator smarter, helps us to identify seasonal patterns and ultimately it means we know exactly what months/weeks of the year the best for response rates are, and what day/s of the week are the best to receive a letter on.
This year, we’ve launched our alternative outreach program using contact aggregation tools to gather contact details and social media profiles for landowners, particularly those owned by commercial entities, aiming to stay ahead of the curve and generate responses for opportunities where traditional D2V letter campaigns can’t.
What's in it for the Landowner?
According to the National Farming Union (NFU), 60% of landowners feel under-informed when selling their land, and the Royal Institution of Chartered Surveyors (RICS) reports that 54% lack sufficient knowledge of the land market.
In response, we’ve developed a landowner-focused approach that provides free access to our professional planning team and dedicated land managers with a combined 75+ years of industry experience and expertise.
In addition, we offer landowners a way to sell their land with zero fees – thus saving on the typical brokerage fees associated with appointing a land agent.
Why should developers care?
We prioritise the landowner experience because we operate in a double-sided marketplace. A double-sided marketplace is one that connects two very different and distinct user groups – for example, Uber connects drivers and passengers.
In land acquisition, the market connects developers and landowners. Therefore, in order for property developers to benefit, landowners must also benefit – and this can only be achieved with a landowner-centric customer service model engineered to provide knowledge, value, education and expertise necessary to navigate the complexities of the market.
These relationships become the foundation of your deal pipeline, fuelling the growth of your business and helping you to achieve your business objectives.
