The mythical stork brings neither babies nor business, but an understanding of real estate marketing campaigns can lead to you earning a bundle.
Marketing is an umbrella term for any of the various methods with which potential consumers are introduced to products and services. Marketing is the only way to expose your real estate investment business and generate leads, however there are many ways of going about it. Here, we will discuss the main avenues for marketing your business in order to generate leads and make the most of your business’ potential.
The Funnel
The funnel is a marketing term which describes the entire process of generating business from start to finish, and it’s crucial to understand this funnel for your real estate marketing campaigns. At the wide end is your first contact with the public, which is any way in which your product/service/business name is introduced to an individual. This might be through networking, ads, or direct mail. The neck of the funnel is where the chaff is separated from the wheat via drip marketing and follow-ups. Finally, what comes through are your leads which are most likely to convert to actual business.
Networking
Networking as a real estate investor is a partnership between the internet and real life. Searching sites like Craigslist, MeetUp, or Facebook will produce dozens of local groups which meet both online and in person to discuss real estate related topics. Use search terms such as “[insert city name] flippers” or “real estate investors”. Join and post in these groups and attend their meetings. Use these networks to connect with others to perpetually build your contact and lead lists. The key to networking is to always be “on” and always be prepared. Be alert to any opportunity to discuss your business and keep business cards and a way to record contact information handy.
Direct Mail
Direct mail as a real estate marketing campaign is exactly what it sounds like; mail an introductory letter directly to potential leads. Use public records or hire a list provider to create a list of addresses to mail to, but don’t mail to everyone on the list. Start by sending a small sample group and see what sort of response you get. Once you figure out who responds and who doesn’t, you can pare your list down to a manageable size and mail out more letters. Pay close attention not just to who responds, but to what they responded. In other words, take note of what it was about the letter that encouraged the lead to reach out. Was it a specific phrase? A property description? A note about yourself or your business? Direct mail can be very effective, but it can also get costly per lead. The more targeted you can be, the better.
Ads
The exposure of a Facebook or Google ad is unparalleled. Not only are these ads effective, but they are very affordable. Even so, your costs can be minimized by creating a highly effective ad by hiring a professional to create it. The cost of paying a professional up front to create an ad is well worth it to own an ad which will pay for itself over and over through lead generation. Use some of that advice to craft your own newspaper ad in the local paper or go the “less is more” route and create bandit signs with a poster board, marker, and staple gun. The primary goal of ads is to pay as little as possible for the most exposure as possible. Ads can be a powerful component to your real estate marketing campaigns.
Honing In
Once you have accrued a pool of leads through ads and networking, it is time to up your real estate investment marketing campaign skills by learning how to prioritize your leads and convert them into real business. Regardless of which marketing campaign tool you are getting responses from, never stop tracking what about that tool worked and didn’t. Time spent analyzing your methods now will save you from wasting time and money on fruitless marketing campaigns. The keywords and phrases that you find work best for you should be a part of your rhetoric, ads, mailers, and littered throughout your website and business paraphernalia. Think of them as the grease within the real estate investment marketing funnel which is directing leads towards you. Add grease using drip marketing. Drip marketing is reminding your leads about you through automated texts, emails, and newsletters. Again, stick to your keywords, but also be sure to create content relevant and interesting to your target as well so that, even if they aren’t ready to act immediately, you will come to mind when the time does arrive.
Target Acquired
Real Estate marketing campaigns are all about finding what works best in connecting you to your customers. Cast a wide net in order to reach as many people as possible to build your brand awareness, but use these marketing tools and techniques to then precisely target the leads which will become your customers and clients. When a match is a good one, everyone benefits!
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Image courtesy Flickr and Jonathan Kos-Read
