What is your bread and butter go-to strategy for consistent lead generation? What have you tried that was a waste of money and didn't work at all, and what has been the best source? I'm trying quite a few strategies as a newer investor and still haven't found a great source. I'd love to hear what other people have to say. Please add the details if possible!
@Jordan Moorhead have you ever tried (net)working with any attorneys (probate/divorce/foreclosure/etc.) to send you deals?
Hi @Liam Hanson
I stand behind paid traffic as being one of the best ways to generate consistent leads. With paid traffic you can target almost everybody in your market, being that Google is the #1 most used search engine and Facebook ranking #1 for the most used social media platform. Both Google and Facebook offer a paid advertising platform where you will be able to target people based on their age, demographics, language, interest behaviors, etc... Meaning you can target people with ads that have had a "divorce", Are "likely to move", "homeowners", live within a 10-mile radius of your property, takes interest in modern style homes, etc... With that said, paid traffic is one the most effective forms of marketing to bring in leads on consistent bases. Now with other traditional forms of marketing, they are all good but It really depends on your market. For example you can expect the majority of your mailers to mostly end up in the garbage in a hot market, your bandit signs to be taken down every week and you have to pay a fine because it's not allowed in your market, and driving for dollars just isn't a scalable way to find leads. Now I'm not discrediting those forms of marketing like I said it really depends on your market, but its time to find a way more effective way to find quality leads
The two best platforms to advertise on right now is Facebook ads and Google AdWords. However, with paid traffic, I can promise you that you will NOT see any returns if you don't put any time and effort into your campaign. I am not saying you have to work on your campaigns 24/7 365 like your life depended on it, but you need to be tracking what works constantly, testing a lot, and optimizing every aspect of your funnel. if you won't take the time to learn at least the basics then please just delegate it somebody more qualified.
The main goal of your campaigns is to generate qualified leads that turn into deals online. the best way to do this would be to run ads through a funnel.
Here's a really good funnel using Facebook ads, it is beginner friendly and proven to work...
Start with creating a campaign with the "engagement" objective. At the ad set level, you're going to want to be targeting a broad audience. When targeting use the demographics and behaviors of your target audience (i.e. likely to move, divorced, homeowner, etc...). Keep in mind the whole point of this campaign is to find qualified seller leads. As for the ad, you're going to want to do video. It has the most engagement among its counterparts, and you are going to be able to retarget those who watched a certain percentage of the video, which I will discuss later in the post. Remember it takes on average 7 interaction with a product or service for a user to take action. For that reason, this video is to educate the user, your video should be no longer than a minute long. you want to make sure you effectively hook them in the first 5-10 seconds of the video. In the ad, you're going to want to identify their problem, provide the solution, explain benefits, and then close out with a call to action. Usually, the CTA would be to direct the user to a landing page (THAT CONVERTS) where they can fill out a pre-qualifying form. you want to make sure you also have a "thank you" page that the user gets brought to after filling out the form. Be sure to have your Facebook pixel installed on to your landing page and "thank you" page. Refer to my post here to learn how to create a killer ad. I will mention in a later post on what your landing page and thank you page should have, for now just do some researching on google.
Optimize, optimize, optimize... I cannot say this enough. Even the majority of professional account managers will not have a winning ad first time around. For this reason, split testing is a must. When split testing make sure to only change one variable at a time, otherwise you wouldn't really know what works and what doesn't. Once you get your first ad running DO NOT touch it for at least a week. Way too many times do people try to change something in their ad. Facebook is optimizing it and you will be just messing it up by changing anything.
Now here is where it gets fun, create another campaign with the objective being "traffic". the purpose of this campaign is to retarget the people who watched a majority of the video(around 95%). You can do this by creating a custom audience from the people that viewed your ad. Create a video ad that focuses more on getting them to your landing page where they will fill out the pre-qualifying form.
For the last part of the funnel, you're going to create another campaign set to the "conversion" objective. This campaign is to target those who have visited your site but didn't fill out the form. Make sure to create a custom conversion for when your leads hit the "thank you" page. The ad for this campaign should be another video ad. In the ad make sure to make a very strong call to action. You want these potential leads to go back to your site and fill out the form.
Now, remember you need to optimize the funnel over time. You can play around with this funnel and tailor it to your liking. Maybe you want to try messenger marketing or use a lookalike audience. Get creative with your marketing. Make sure you are rotating your ads out after a while. It's a good practice so people don't get tired of seeing your ad. Recommend ad spend of $1000 a month if you're truly serious about marketing online. once your system is highly optimized you will start seeing really tremendous ROIs on your ad spend. Just remember to plan your marketing strategy accordingly. DO NOT just go into it blind with no proper planning.
I have a background running paid traffic so any questions or concerns you may have I would be more than happy to answer.
While, I can see the premise that @Angel-Ty L. puts forth, is an excellent choice if you are strictly targeting 40+ year olds on Facebook; by strictly limiting advertising on both Facebook and Google AdSense you are placing limitations on your reach and target demographics. Spending $1000 on Facebook alone I would call a waste, especially since the fastest growing demographic on Facebook right now is people over the age of 65. How many more homes are the baby boomers going to buy, unless they REIs as well? What I think Angel is suggesting, is that you need to target people with the money to buy with your advertising.
But by ignoring the other platforms, is to give up on a prime demographic of 20-30 year olds that are most likely seeking a new home. This demographic is largely no longer exclusively on Facebook, and are using google less and less to find what they want. Studies have shown that the younger demographic the more likely they are on another social media platform other than Facebook.
The Real Interesting Part of the Future:
The average Tech lifespan is 3-5 years before you either need to revamp or go down in flames. Facebook just did their most recent revamp. People who look to capture their targets using mobile app content will fair far better than those who don't adapt. Even better yet, if you can capture the market using an audio application that can be accessed through Amazon's Alexa or Google Home, will out perform the competition; period. Think about it.
John and Jane are arguing...."Blah, Blah, Blah....I want a divorce....Alexa, find a realtor." Or "Google, where can I locate a home to rent?"
Sure, this may seem far fetched now, but in 5 years, you will have to overcome huge obstacles to reach your target with Google AdSense and Facebook ads. It would not surprise me if Facebook went the route of searching or engaging by voice in the near future....
Invite your target audience to subscribe to your email list is one of the easiest ways to generate new leads. Give away something of value in exchange for their email addresses so you can easily follow with them this is a great way to build relationship so they can get to know you better.
@Angel-Ty L. said it perfectly as far online paid ads. Been doing online ads for years and facebook is definitely worth looking at.
As far as my bread and butter, that would and probably always will be direct mail. Everything I do revolves around that first then the other forms of marketing are all supplemental. If your strapped for money then networking and hitting the phones or door knocking makes sense.
What Angel. said is spot on. Anyone looking to do that sort of thing themselves needs to read that post, then research into clickfunnels, integrations like Zapier, ect.
I'm a little miffed he got here first to respond before I did, but what he said is gold. Easy mode is running buyer ads for realtors. Seller ads for Realtors are difficult, and ads for Real Estate Investors looking for sellers even moreso.
@Liam Hanson How would I be able to network with attorneys for divorce and probate? I have been trying to figure this out. So I send them a letter. If I was to randomly run into one, how would I go about approaching them. Any assistance you could offer is greatly appreciated.
@Shawn C. VACANTS IS MY BREAD AND BUTTER. I USE A SYSTEM THAT CALLS AND TEXTS AND I GET GREAT RESPONSES AND DEAL FLOW. JUST HAVE TO HIT A LOT OF FOLKS...
@Damien Dupee Thank you for the information. I really need to look into this. I have never heard of doing this and I enjoy learning new things. I assume the text msgs you send are short and to the point?
@Shawn C. Absolutely!
Best lead strategy ever?
The correct answer is whatever gives the best ROI. But wait.. not so fast.
If you suck at SEO and you do it wrong and spent a lot of money on it and get no lead, and you do DMM and spend some money on it but you got at least a few deals, the answer would be DMM right? But is that fair?
The best lead generation method is not and should not be a matter of personal opinion.
SEO gives you high quality leads for "free". Period! No matter your iff's and but's.
If SEO is not working for you, you are doing something wrong. ("Competitors are too strong with their SEO", still falls under "you are doing something wrong"). You can beat anyone with SEO (just don't try to beat me pease).
ANY strategy where you do not have to go out and look for people and where people look for you is hands down the most profitable way to get leads.
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