Marketing Methods and Tracking

10 Replies

I just wanted to see where experienced & successful investors/wholesalers are spending their marketing dollars.

What avenues work best and which ones to avoid? If you would also respond with what area(s) you were doing this marketing in. Also, if you have capture rates or response rates that would be ideal.

I'm trying to market to distressed residential sellers.

Also, what software or methods are you using to track said marketing?

Thanks everyone, hopefully this thread will be useful to many people.

Lol, I'm not sure I can help a ton, cause I get almost all my properties from the MLS. I am advertising on Facebook right now, but not spending a lot cause I don't have the time/infrustructure to deal with the phone calls (yes, I could hire or outsource this, but I'm too focused on making this BP redesign work! lol)

Anyways, anyone else? @Chris Feltus  @Mike Nelson  ?

Thanks for the shout out @Brandon Turner

@Brian Kirk To be honest I really have 3 pipelines if you will that help provide me with consistent deals on a month to month basis. For me I have found the best lead sources are the following, in order of importance.

  • Direct Mail
  • Driving for Dollars
  • Online PPC

Let me explain these a bit more in depth.

Direct Mail of course is the backbone for any long term, sustainable and successful business. Creating a successful campaign is probably the single most important step to keeping your pipeline full. You need to figure out exactly what your target market area is, and what sort of criteria you need. For example 3-2-2's 1,500 sq ft in zipcode x,y,z. Personally I don't care about response rate at all. It all comes down to how many contracts I get. Which would you rather have an 80% response rate with 45 tire kickers and 2 contracts? Or 8 total calls and 3 deals? I think the answer is pretty clear. The reason "response rate" is thrown around so much is because they are trying to market to you using impressive large numbers. Anyways, you need to make sure you target prospects that have both equity and some sort of red flag that may signify motivation to sell at a discount, for example Probate. Also check out this BP blog post I did on setting up a successful direct mail campaign. I just use excel to track my leads, no need to make it complicated.

Driving for dollars is great as well and often underutilized. I think probably over 90% of the houses I locate using this method are sold to an investor, even if its not me (once I am aware of these leads I check up on them in the local appraisal district, many times it will be another LLC when the property changes hands if it was not me that purchased it). Especially if you employ some of the tactics I divulge in my BP blog post Part 1 and Part 2. The great part about driving for dollars is it doesn't cost you anything, except time and gas. Which really isn't a problem because typically I only look for houses in this manner before or after an appointment within the subject properties subdivision.

Online PPC with google adwords. This one is a bit hit and miss, but every other month or so I usually get a good lead or two that turns into a contract. Again the tip here is to be consistent with it, just like anything else.

Hope that helps
-Chris

For the past three years our marketing has been almost exclusively based on software called Hubspot. We don´t use any of the traditional methods like direct mail (sacrilegious I know). We are wholesalers who source a variety of bulk deals (5-15 units) and then sell them one by one to US & overseas investors.

Firstly, Hubspot is a great way of putting an existing database to work. The software for emails, landing pages and automatic followups is the best I have seen.

Secondly, it provides a terrific platform for generating organic/SEO leads and sales if you are someone who can write a lot of content. We try to write 5-8 new blogs per month with useful info that offers potential customers links to more comprehensive reports at the bottom in exchange for their email address and phone number e.g. Orlando Buyers Guide, Beginners Guide to Owning a Rental Property, Ten Mistakes to Avoid etc.

It is not cheap unfortunately, we pay $8000 per year for it (there are free trials). But we basically don´t spend anything else on marketing and have generated we over 1000 new leads per year for the last 3 years using it. That´s without spending a penny on google adwords - it´s all organic.

I think this type of product works best for people that promote real estate in big cities and/or large areas with lots of buyers. It wouldn´t work for people focused on small towns or individual zipcodes - for those models you need to use direct mail.

Hope that helps.

Colin Murphy



@Chris Feltus - Thank you - that was exactly the type of response I was hoping for. Very useful - I appreciate you taking the time to type that up.

@Colin Murphy - Thank you - I haven't heard of that software but I'll be sure to check it out.

@Brandon Turner @Jaren Barnes Thanks for kicking this thing off!

@Brian Kirk   I'm an investor in the Indianapolis area, and most of my marketing is spent on Direct Mail, SEO, and sending letters to Vacant properties that are found D4D.  

My first campaign produced 2 deals sending out 900 letters with a few potential deals in the pipeline.

The SEO for my website it fairly new and I haven't had a lead turn into a deal yet, but it will come eventually.  This takes a lot of work and time because you have to invest time into writing articles and blog posts.

I am partnering with another investor in Indianapolis and we are going to be mailing to vacant properties any day now.  

I first used excel to track my leads.  I can't stand excel, and I have now switched over to Podio.  I've been using Podio for a few weeks, and I love it. I have it set-up so that when a call comes in from a seller it automatically creates a lead in my seller lead app, and the voicemail is automatically attached with the lead.  No more needing to copy paste or data entry into excel. 

If you have any questions feel free to PM me.

@Ben G. Its been a while since this post, so I was hoping to get your feedback on using Podio for CRM and if you can elaborate on how you are using it?

just go to youtube and type in podio and watch the videos

Originally posted by @Ariel Cohen :

@Ben G. Its been a while since this post, so I was hoping to get your feedback on using Podio for CRM and if you can elaborate on how you are using it?

 Podio is such a great system because you can customize it to work exactly the way your business works.  Throw in GlobiFlow and you can automate many processes like follow up, data gathering, scheduling and more.  

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