What’s Your Marketing Strategy - Rifle or Shotgun?

Question

I use both - I email 10,000 mortgage brokers ( for loan leads) who opted in for our monthly short promotional newsletter - and I then follow up only with the 30 or so who consistently send us business and any others who have provided responses that lead me to believe they can become good future sources of deals.

I’ve used a similar approach to contact commercial real estate brokers who specialize in an area we’re interested in (for buying property) and then interviewing the “best” of these and choosing one to work with from then on.

Do you use rifle or shotgun - or both - in your marketing?

Jay Hinrichs · Answer

we rely on referrals and do not have any formal marketing system.

In our new builds we rely on MLS

However we are not high volume.. and we dont broker per se I just did my first loan with another money source this year first one in my entire career LOL..

when I do market per se I just get on the phone and reach out to someone i think we can help.

Chris Seveney · Answer

We use both as well. We maintain a large distribution list to stay top of mind and keep our name in circulation. But we also take a rifle approach with a select group we have strong relationships with the kind where either side can pick up the phone and potentially make a deal happen quickly.

If you're operating on a smaller scale or taking a very targeted approach, I’d lean toward the rifle method. It allows for deeper relationships and more strategic conversations, especially if your resources are limited.

Ned Carey · Answer

@Don Konipol I have always been a rifle marketer. I am not good enough at follow up for mass marketing.

Up until now the vast majority of my business has been buying tax liens and the ones I foreclose on become my funnel for deals. In a sense this is a targeted rifle approach as it is 96% of my deals. On the other hand I will buy a tax lien on anything. I just need to pay less than the property is worth. So in that regard it is somewhat shotgun.

What’s Your Marketing Strategy - Rifle or Shotgun?

What’s Your Marketing Strategy - Rifle or Shotgun?

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