How would you spend a $10,000 per month marketing budget?

11 Replies

Simply put, our goal is to net 100k per month via off market deals through a mix of both rehabbing, wholesaling, and "whole-tailing".

What would you spend a $10K per month marketing budget on if you were in our shoes? It seems like alot to invest on direct mail alone. Your advice is greatly appreciated!

postcards on a 90 day cycle.  

Originally posted by @Michael Quarles :

postcards on a 90 day cycle.  

 Lord Michael Has spoken. 

Originally posted by @Michael Quarles :

postcards on a 90 day cycle.  

Thanks for the reply Michael. Can you elaborate a bit? What would you cycle every 90 days? Do you mean mail lists or mailers? 

send the same pc to a different list each month for 90 days.  

10000 should buy you about 25000 prospects.  Which is 75000 in 90 days.   If you use my PC that's a total of  1200 prospects responding which should equate to 10 deals which equal a 270,000 return.  

Account Closed There is no right or wrong way of doing this, so I'm just going to take it from a common sense way of doing things.

$1k - create a awesome REI website that includes epic wow educational content that converts.

$1k - hiring someone/company to handle all your online marketing from

- SEO

-Blogging

-Email Marketing

-Video Marketing

-Profiles/Citations

-Social Media

all this can run you around that amount or lower

$500 - use this amount for PPC on Google, Facebook and a number of other

$N/A - run local newspaper ads

$N/A - run radio ads

$N/A - run tv ads

$1,000- use this to do direct mail, and send them over to that educational rei website that will convert into leads.

$1,000 - sponsor as many activities in your local market as you can

Just this alone will dominate any local real estate market. 

make sure you have the man power systems and such in place to handle the lead flow that kind of money should generate in leads...   what i see from a practical standpoint ( IE I get 3 to 5 letters cards etc a week soliciting to buy my properties.  ( they are probably tagging the free and clear one's.. since we have not owned them generally more than a few months...  RARELY do I see a follow up letter as Michael has suggested.. and only 1 in a 5 or so that I call either picks up the phone or even bothers to call back.   I was raised old school salesmen tactics   IE  always answer phone live... either my self  secretary or ans service... and call back same day ... set appointment ... don't try to qualify to hard on the phone... IE pre screen leads... unless you have so many that it does not matter..  

@Michael Quarles  OK mike for a test run here...maybe we can do this as a live exercise for BP and let those interested shadow or follow... I will put up the 30k  you mentor me through it and we post results... 

Take myself who other than a few very target small markets for very specific properties has never done a direct mail campaign.

 I have the assets in place to follow up and close and do the rehab or ... can close ( have the cash) and then flip... so I have that part in place.

Originally posted by @Jay Hinrichs :

@Michael Quarles  OK mike for a test run here...maybe we can do this as a live exercise for BP and let those interested shadow or follow... I will put up the 30k  you mentor me through it and we post results... 

Take myself who other than a few very target small markets for very specific properties has never done a direct mail campaign.

 I have the assets in place to follow up and close and do the rehab or ... can close ( have the cash) and then flip... so I have that part in place.

 This sounds awesome Jay. Michael has been great for us to work with. I also call bandit signs and CL ads and I rarely get calls back. I don't understand why they even waste their time and money. 

Hope your enjoying this beautiful Portland weather. 

@Jay Hinrichs

 That's a very good point... I do this full time and currently send and receive about 50 calls per day (speaking with buyers, sellers, agents, title companies, attorneys ect). I think that if we staggered the post card mail dates (i.e. 6250 per week) and got a .005% response rate, it should level out to an additional 4-5 calls per day. I think I can manage, and if not I'll get one of my partners here in the office to help out. 

@Antonio Coleman

I like this... I got a PM from someone earlier who recommended spending $8,000 on direct mail, and $2,000 on marketing online. The South FL real estate market is extremely competitive right now and I think we'd need more than $2,000/month to be competitive. I'm thinking that the $2,000 allocated to online marketing would be better spent marketing for cash investors to sell properties to than for sellers. 

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