Advertising on the top of a cab?
I’m a big believer in always testing new marketing ideas. After all, an idea you think is never going to work may turn into a blockbuster method and get you a ton of deals. In fact, just this morning I had a friend of mine email me and tell me that he was in a cab and he asked the cab driver about adverting on his roof on the triangle shaped thing.
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The driver told him it was $50 a month and my friend asked me if I thought it was a good idea. What I told him was that I have never advertised before on the top of a cab, but for $50 a month he should absolutely test it out. However, you have to test it the right way so you’re seeing if you get your money’s worth.
I told him to get a new (local) phone number that was to be used on the cab sign only. He should not use his regular phone number because he might not be able to properly track the calls. He can get a new phone number for cheap through a variety of companies such as ringcentral.com.
The two month test…
He’s decided that he’s going to do the test for two months and I think that’s a good amount of time. It’s certainly worth it to invest $100 when you have the potential of making $5,000 on wholesale deal or $30,000 on a lease option deal.
However, after two months if he hasn’t gotten any calls or deals then he needs to cancel his agreement and move on. In fact, this is what you need to be doing with every single type of marketing you do.
If you’re running marketing right now that you’re not tracking, you are making a big mistake. Because if you’re not tracking it then how in the world do you know it works? You don’t. For instance, every time I send out a letter or postcard I always track the results to know if I have a winner.
Also, here’s the dirty little secret about marketing.
The most successful people who make the most money do the most tests and fail the most often. I have had many “brilliant” ideas over the years that bombed. However, when you end up with a winning letter or marketing method you exploit the heck out of it and it can make you a small fortune.
Fact is, I have one letter right now that when I send out I know the phone is going to ring off the hook and I’m virtually guaranteed a deal. It’s my “go to” letter but it cost me a lot of money to discover.
So, what you need to do right now is to sit down and write all of the marketing methods you are using. Then you need to see if you’re tracking those methods and if you’re not, start today. Then you’ll be able to figure out which ones are profitable and before you know it you’ll start making a lot more money because all of the marketing you do will be tested and proven.