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Anyone here using billboard advertising? What is the cost ranges per month on something like that? I only ask because I seem to be getting buyers interested in houses in one particular area more than others and this area has a major interstate going through it with billboards on both sides all the way down. I have never seen a We Buy Houses ad on any of them so I would be the first. I would be able to get my name out to literally thousands of commuters a day plus anyone that lives near the highway. I'm figuring at least $500-1000 per month, how far off am I? Is it money well spent? Would this brand my name quickly and get my name out there fast? My message would be along the lines of a bandit sign but WAY LARGER, short sweet and to the point. Stop forclosure, we buy houses, any condition, phone number, URL. The target area is a town that is up and coming, being revitalized and property values are coming up. Its slowly getting a creep in of NYC people that are moving a little farther out to avoid some of the prices that plague the towns closer to the city. Town has had problems in the past (impoverished areas) so there are plenty of good rentals that are in need of a lot of work, with the right rehab they would be profitable and show good appreciation of the next 4-5 years. Better properties could be used for young professionals commuting into the city, lower end could be section 8 (there is a large population on public assistance down there). Am I stupid for thinking big and spending an assload on a billboard? I am thinking start big and brand the name then follow up by using bandits all over town in areas that look like they would have plenty of burned out landlords or forclosures.
People are doing that here in Tennessee. I'm not involved in any of it, and I have never called the numbers on them, but I often see highway billboards saying "Stop Foreclosure," "We Buy Ugly Houses" and other bandit-sign-like headlines.
The experience that I had with billboards in my city is that the first year or two that they were through the town, the calls flowed from them. After a year or so the calls slowed and then pretty much stopped for all investors that had billboards. I still think that they provide some good branding, and every once in a while I still get a call. I am actually pulling all of mine this month. In my city the rent on them ranges from $75-$1200 a month, depending on location, traffic, and size. The vinyl ran me about $300 and can be reused. The paper ran me about $80 and begins to fall apart after a couple months.
Very COSTLY compared to other Marketing Methods.
You have BillBoards people will be INTIMIDATED by you.
Use bandit signs....
This is just my 2 cents
I've never experienced intimidation from my billboards. They are expensive no doubt, but experimenting with different types of marketing is key to this business.
Jeremy, it sounds like you are just hypothesizing about billboards and don't necessarily have any experience with them. Now I also use bandit signs, but being creative and being open to different strategies of finding motivated sellers is paramount. No doubt I would recommend for someone to start out keeping their costs as low as possible, but when your budget permits it, there is a point where it is time to branch out and invest some money into advertising.
Yes, I have never used billboards and I never will.
I talked to some well known investors who were very disappointed w/ the ROI.
I'll take their word :)
Have you used them w/ any success?
Yes, I have had some success with them. They are definitely on the high side with cost per contact, but then they also give some strong branding.
You know every technique I use I could find an investor or two that would tell me that they tried it and it doesn't work. I think their are multiple factors that determine the effectiveness of different marketing strategies. Your market, the type of area, the actual location of the marketing, the frequency you are marketing, the timing of the marketing, competition's use of the technique, these all will play into how many calls you get from certain strategies. I have made thousands upon thousands of dollars following through on techniques that other investors quit on. Not that all of them pan out to be winners, but the homeruns make up more than enough for the losers.
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