Marketing Your Business Successfully
It seems pretty reasonable that without marketing no leads will be coming in...no leads, no offers...no offers, no deals. Even when you are working many deals at a time, you should never stop marketing. You need to always be setting up your business for the next cycle of deals. Marketing today could bring in deals tomorrow or even months from now. I've heard of sellers hanging on to investors' letters for a whole year before calling them. Consistent bad marketing is even better than good marketing that is inconsistent. Imagine if you were consistently producing good marketing.
So, let's talk about what makes a marketing piece good. Honestly, different things have worked for different people. I know one investor that makes sure everything he uses is professional with his logo and that he always looks like a legitimate, respectable business. On the other hand, I know an investor who believes that motivated sellers want to work with every day people like them. This investor would rather hand write his letters and bandit signs and keep his car dirty to show that there is nothing to be intimated by. Both of these investors have been very successful in their marketing. Some people trust bigger companies and some people trust the individuals, so it is up to you on how to target sellers.
Regardless on what type of person you target, it is critical to first catch their attention. In a direct mail letter, you need to get them to read the first sentence. The first sentence is there to get them to read the second sentence and so on. It is your job to make your piece attractive and interesting. Maybe people are tired of seeing the generic "WE BUY HOUSES" sign and you would rather put a hand-made hot pink sign instead. That might appeal to some people, and it might not. Marketing is a trial-and-error game; what works great in one area could be terrible in another. I know one investor who had car magnets in her hometown in Louisiana and received calls every day. Here in Colorado, she received maybe one call a month with the same magnets.
One thing you definitely need to consider is that people are only looking for what they will get out of this. They do not care so much about how great your company is, but more about how they will benefit. You are providing a service and need to state that. However, do not make any promises you can't keep. Be honest and do not try to undermine anyone. Your reputation will surely get the best of you if you are deceptive.
Always give them an action to take. Make sure they know that these actions do not require any obligations or costs to them.
Another tip I'd like to point out is to try and put a website or an e-mail contact if there is space on your marketing piece. A lot of these homeowners are embarrassed about their situation or condition of their house and may not have the guts to pick up the phone and call you. The internet is a great tool to give them more information to let them feel more comfortable about talking to you.
There are many ways to market to motivated sellers. To get a better understanding of ten successful marketing strategies, read Matthew David's article below.