What's effective right now?

13 Replies

Hello BP!

I am ramping up the business and have a power team in place. Buyer's list, title company, investor friendly broker, multiple real estate agents, contractors, inspectors, appraisers, RE attorney, contacts for a sundry of diverse needs, Bigger Pockets, and other resources...

***BUT NOW LET'S TALK MARKETING***



Bandit signs

Flyers

Direct mail

Radio commercials

Business cards

Newspaper ads

Website to generate leads

Where is a good place to start, or should I just...start?

I have individuals ready to receive calls, I have a Google Voice set up. For the Arizona market, what is your suggestion?

Everything works if you're consistent. But I would start with direct mail & website. Just my 2 cents.

@Andrew LeBaron Somewhat depends on your plan of attack. Are you looking towards wholesaling, rehabbing, long term holds, etc?

Sometimes it can be a numbers game. With marketing, it's been trial and error. Through the various methods, I've found networking to be the most effective use of my time due to my personality. It's just a matter of seeing what works for you!

p.s. If you're looking to do direct mail marketing, @Sharon Vornholt has been successful in this realm. She's written articles on the subject on the BP blog. Hope that helps!

thank you all!

right now I live in the Phoenix metro area, and there are many subdivisions of many different classes. I do see some bandits signs around the area. I am wondering the success rate of bandit signs in the valley here in Arizona. I know there is no secret one and only marketing scheme, but I would at least like some direction as to which type of marketing can be relatively more productive. If anyone in the valley knows of a most effective marketing strategy, please let me know and thank you.

I like very targeted methods such as direct mail to absentees and other owner types with high equity within desired areas and price ranges.

Don't like expensive, untargeted methods such as radio & billboards.  Those can work if you can get remnant inventory, but that's not likely in a competitive media market.  I do like electronic billboards as you can get a much more affordable deal being in the rotation.

Website is definitely a part of the puzzle, when paired with PPC (pay per click) advertising.  PPC is effective but not cheap.  Some clicks can cost $5 or even $10+ each.  That's a CLICK, not a form completed.  But ultimately PPC is one of the better deals in lead generation.

@Dev Horn  - how specifically are you finding homes with equity. Haven't been able to get a good source.

My website is starting to churn out some leads on a daily basis (after about a year of effort getting it to where it is today).  It's nice getting those email notifications!

Andrew - if you've ever gone fishing (you might be a master angler) you know that the type of bait and tackle you use makes a big difference between fishing and catching. Same with fishing for deals.

To begin with, you ought to decide what size fish you want. That's the property type and value range.

Determining how you'll fish (rod & reel, net or ?) is the equivalent of the media. Match the media to the type fish you seek. Media could be online and offline, including print ads, direct mail, signage and telemarketing. It's all just media.

Once you've determine the "target species" (what you want to catch) you'll need to know something about their habits: how they eat, what they eat, and what attracts them like crazy. Mating habits? When are they hungriest? When are they sick? What happens when they die?

This will also help determine what size hook to use and then, of course, you'll decide on what bait goes on your "hook." This is the ad copy that will go in your headline to reflect your USP'(s) and get the little fishies to nibble and then bite.

If you are fishing for starving fish, look for ones that are the hungriest. For property owners, these are distressed people with equity. Although I specialize in probate, most probates are not distress sales. I still prefer to find additional catalysts that motivate the person in charge to take a certain action and I go to great lengths to instruct them how to bite.

If you like road kill and stinky fish like I do (abandoned houses) you need to look for an owner who either sees the property as a problem or a liability that only you can solve to their satisfaction.

Just take action.  I asked myself this same question.  Less than a year later I can honestly say the best decision I ever made was to quit asking questions and just do! If you want to see how I got started:

https://beta.biggerpockets.com/blogs/4834/blog_posts/35020-how-i-got-started-marketing-for-motivated-sellers

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