Why most marketing $ucks

Question

I am always amazed at the way that people try to market their business. With thousands of articles online about marketing people continue to make the same mistakes. I am far from perfect in the marketing department but I have a general idea of direct response marketing. Here are a few things that have helped my business tremendously.

1. Make getting information from you a two way transaction. If you are driving traffic to your website offer some valuable information to your target audience that they would be willing to leave their information for. A website is no good if people visit and leave with no trace of themselves left behind.

2. Have a purpose to your marketing materials- don't make the mistake of sending out post cards, flyers, etc without a call to action. Far too many direct mail pieces and websites tell the target audience all about the business but they don't tell the customer (Whats In It For Them) an easy way to remember is radio WIIFM whats in it for me.

3. Use a website with your classified ads and Direct mail- A website is the perfect way to let people know what you can do for them, and it creates a great low resistance way to contact you without needing to talk on the phone. Most consumer hate the phone and the last thing they want to do is immediately share there life story of why they are motivated sellers. Instead use a website that offers a free report like "how to sell your house fast in any market". If someone requests that report you will know that more than likely they are motivated sellers, because people don't request info on topics that they are not concerned with. Be sure to make them leave at minimum an email address and name, but phone number is nice as well.

Michael McDaniels · Answer

My family and I have bought and sold without a website and an auto responder. I wonder if most investors take the time to build a true marketing plan with financial plans and time frames. We need these plans to keep us focused and grounded. Step 1 is to remember that this is a people business first and a numbers business second. If you can't talk to people than you don't need to worry about a fancy marketing plan. Stop and ask yourself if you need a website to talk to the guy down the street. How much will you spend to get them to see you. Cold calls are too common and the name says it all, COLD! They are ok to get numbers on a FSBO before looking at a property but you still have to get in your vehicle and go talk to them. We all need to develop our own communication style and perhaps a course on public speaking would help. Stick to the basics and control your marketing dollars through research and results.

Omar Johnson · Answer

Your ability to find motivated sellers is one of the keys to becoming a successful Real Estate Entrepreneur. What is the definition of a motivated seller?

A motivated seller is someone that needs to sell. You won half of the battle when you understand that there is a big distinction between someone wanting to sell a property versus someone that needs to sell a property. One is a suspect and the other is a prospect.

Someone who just wants to sell a property is usually expecting a buyer to pay retail prices and if they get it fine and if they don't it's no big deal.

Now a motivated seller on the other hand has to get the rid of that property by any means necessary, they are looking for a solution to their immediate problem which is the house that they need to get rid of and if you the Real Estate Entrepreneur comes up with a workable solution, their house becomes yours at a bargain price.

What are some of the circumstances that make owners of real estate motivated sellers?

Job relocation. Millions of families travel to new cities and towns when companies shuffle their employees between different locations. This makes selling real estate a top priority for the moving family.

Job termination. Although no one likes to think about it, millions of people lose their job, which puts their finances at risk and can often lead to selling real estate to move to a more economical alternative.

Death in the family. Real estate may be given to one or several family members by a relative who has passed away. If the family already own real estate, then one of the two properties is often sold.

Bankruptcy. When someone is completely down on their luck, often the money invested in their real estate is the only money they have access to so they must sell quickly.

Maintenance woes. After acquiring several properties and buildings in different areas such as a home in the city, a rental property, and a cottage, some people may decide it is too much work to maintain them all and want to sell one of them.

Divorce. People sometimes split up which changes the economic dynamics of their situation. Instead of there being two people sharing a mortgage you now have in most cases one sole person paying the entire mortgage. This creates a financial strain on them and puts the real estate investor in the perfect situation to present the perfect solution called debt relief.

In conclusion, your success as Real Estate Entrepreneur will be determined by your ability to find and locate motivated sellers so that you can present your offers and close deals.

James M. · Answer

I don't know, but I think one of the main reasons why people do a poor job with regards to marketing is because they believe that if everyone else is doing it, it must be working. While that is not a bad assumption to take, it just states that if the father's of certain marketing tactics blew it in the first place, everyone will think it is working if they continue to do it. That being said, I think the primarily culprits of marketing mistakes comes from the big boys with the deep pockets...

By the way, that's some good info esnuts. Definitely a great starting point for marketing.

Account Closed · Answer

I agree with the lack of call to action!

My major concern is that people attend seminars, bootcamps, etc of GURUS and they say, use my exact system. It could be yellow letters, postcards, etc.

They supply them with lists, and suddenly distressed homeowners get 10 yellow letters, that are word for word the same. What sets you apart?

Why most marketing $ucks

4 Replies