Marketing Strategy Off Market Leads

[Michael Ewers]

Hey y'all,

Wondering what is the best marketing strategy for obtaining off market leads? Working to figure out which route has the best conversion rates when targeting specific neighborhoods. Direct mail, SMS, door knocking, Facebook ads?

[Taylor Dasch]

For me, the most success that I have had as far as getting a conversation with the actual owner is D4D and then knocking on the door. But I am interested in what others have to say on this topic! 

[Jon K.]

Quote from @Michael Ewers:

Hey y'all,

Wondering what is the best marketing strategy for obtaining off market leads? Working to figure out which route has the best conversion rates when targeting specific neighborhoods. Direct mail, SMS, door knocking, Facebook ads?

"Best" is very subjective and the quantity of off market leads isn't necessarily the metric you should be focused on. In my opinion, more important metrics are total profit and time spent managing the operation.

All marketing works. You'll get differing amounts and qualities of leads depending on the type of marketing, but also depending on who you're marketing to and where. The systems you have in place to handle leads, follow-up and your sales processes are also huge factors.

Another factor is what is your monthly marketing budget? How big do you want to scale or how many closed deals (or more importantly how much profit) are you trying to do per month? Are you buying for yourself or trying to wholesale (or what is your exit strategy)?

Ultimately anyone else's conversion rate with a given type of marketing in a given market does not necessarily mean you will get the same rate. Conversion rates also change over time.

The answers to some of those questions would help point you in a good direction.

[Michael Ewers]

Quote from @Taylor Dasch:

For me, the most success that I have had as far as getting a conversation with the actual owner is D4D and then knocking on the door. But I am interested in what others have to say on this topic! 

 Thanks for the input Taylor! 

[Michael Ewers]

Quote from @Jon K.:

Quote from @Michael Ewers:

Hey y'all,

Wondering what is the best marketing strategy for obtaining off market leads? Working to figure out which route has the best conversion rates when targeting specific neighborhoods. Direct mail, SMS, door knocking, Facebook ads?

"Best" is very subjective and the quantity of off market leads isn't necessarily the metric you should be focused on. In my opinion, more important metrics are total profit and time spent managing the operation.

All marketing works. You'll get differing amounts and qualities of leads depending on the type of marketing, but also depending on who you're marketing to and where. The systems you have in place to handle leads, follow-up and your sales processes are also huge factors.

Another factor is what is your monthly marketing budget? How big do you want to scale or how many closed deals (or more importantly how much profit) are you trying to do per month? Are you buying for yourself or trying to wholesale (or what is your exit strategy)?

Ultimately anyone else's conversion rate with a given type of marketing in a given market does not necessarily mean you will get the same rate. Conversion rates also change over time.

The answers to some of those questions would help point you in a good direction.

 Much appreciated, Jon. 

[Jake Baker]

@Michael Ewers

These are all great points to that @Jon K. is making. Market, Budget, and time commitment are important to understand before you commit. 

From my experience: 

SMS has the best conversion but is the most regulated, so it depends on the rules in your market. 

If you want to commit dollars to one strategy that will be reliable for years to come, I would pay a call center to call lists that you have pulled and skipped. Then call the warm leads yourself to set up viewings. SMS can supplement this strategy but shouldn't be relied on as a long-term strategy. 

Since you're in Texas, I recommend buying lists from Roddy. They will have the best data for you.

I'm curious to hear what others are doing and planning for 2025.

[Nicholas L.]

@Michael Ewers

i can only speak for what i've done as i suspect it varies by market.  i had a lot of success with direct mail and actually a fair amount with email.  SMS really did not work, it seemed to annoy a lot of people waaaaaaaay more any other method.

[Michael Ewers]

Quote from @Nicholas L.:

@Michael Ewers

i can only speak for what i've done as i suspect it varies by market.  i had a lot of success with direct mail and actually a fair amount with email.  SMS really did not work, it seemed to annoy a lot of people waaaaaaaay more any other method.

 I haven't heard much about emailing but it sounds like a great idea instead of texting. Thanks Nick!