Marketing Strategy
Hey guys!
I recently began my advertising campaign by posting 8.5x11 inch "Cash Now! We Buy Houses" signs in every high traffic store or restaurant I could. I even figured out a way to get most stores with a "no soliciting Policy" to post my sign! (burger king, McDonalds, etc) I am just curious how long it usually takes for this type of marketing to take effect.
my next step is to contact the paperboys' for particular target areas, and supply them with a stack of signs to put into the newspapers every sunday and wednseday. I will also contact the newspaper distributors, to see if I can get them to insert my flyers. (much cheaper than postcards!) I will be running an ad in a county wide newspaper, and will be getting some bright orange business cards printed soon. I think I may be going door to door and posting these signs on the front doors of people in my target area! How does this sound as a way to seed the market? I will be spending 4 hours a day (this is my new part time job!) on marketing alone, for the next few weeks.
-Brandon Richardson-
Would you like to share what is your limit to invest for the first deal (perhaps give a range).
Thx
qwikm:
I have developed (and am still in the process of developing) a buyers list of investors who I will be supplying deals, assigning contracts, and wholesaling to. I will not put up any of my own money towards a deal at this time (I am currently paying 22 grand a year for engineering school!), but have budgeted a small amount for advertising. I have a mentor (for free, yipeee!) who is an expert at sub 2, which will go a long way at helping me in my quest for true no-money down investing. Hope this is enough info!
-Brandon Richardson-
[addsig]
It sounds like you are off to a good start.
Would you please share with us what your strategy was to get the stores (Burger King, McDonalds, etc.) with the 'no soliciting policy' to post your sign's?
Thanks
Housebyr
Housebyer:
Its easy! just offer the manager $25-$100 for every house that you buy from a lead generated by the sign at that location. This is money that will be paid, but it doesn't come out of your up-front budget. This is important.
Establish a slight rapport, be confident, take the managers address, and youre on your way! Your pitch should convince them that you buy many homes this way, and that you are a legit "able-to-pay" investor. some managers wont budge, but many will! The 25-100 bucks leaked from your profit is much less than what you would pay for a bird dogged property. Hope this helps!
-Brandon Richardson-
[addsig]
Quote:
On 2003-08-19 15:59, richar18 wrote:
Its easy! just offer the manager $25-$100 for every house that you buy from a lead generated by the sign at that location.
I think you'll have better luck with private businesses. Franchises have strict rules about stuff like that, managers dont usually want to risk their jobs for $25.
Also, I would guess that if the manager doesnt get a kickback from you fairly quickly, your sign will disappear.
Will
It works! My signs are still up! but even if they only lasted a week, thats alot of viewers, at these particularly high traffic areas. But I do use small businesses also.
-Brandon Richardson-
Richar - Will
Good advice from the both of you. I had not really given it much thought to putting up a sign in a Mickey Dee's. I guess I had just assumed that it would not work since they have the no solicitation policy. It just goes to show you that you never know until you ask.
Thanks again
Housebyr
after re-reading my post,
it sounded somewhat negative...
so i just wanted to say to richar18
and everyone else....
good work...keep thinking creatively....
Will
Hey guys, its me again ,
I found another way to get some cheap advertising! if you dont want to take the time to send a few thousand postcards out my mail, there is an alternative! Simply intercept the paperboy in your target areas, and ask them how they would like to make a quick 50 bucks. They will deliver the cards for you, at no up front cost! simply explain that every time you purchase a house from someone who recieves a postcard (or signs, as I prefer, for visibility), you will pay the paperboy 50 bucks or so. If we purchase 5 homes a year this way, that is only 250 + or - bucks spent on advertising for those homes! that is MUCH cheaper than running an ad for the length of time it would require to purchase 5 homes, and is MUCH MORE AUTOMATED than sending postcards through the mail! One key to financial security is the elimination of up-front costs, to prevent a dependance on a steady flow of income to cover them. When I get big into this business, I plan on creating a "marketing team" that will consist of area kids, and will be designed to hit the market hard with my name, as quickly as possible and at a very small cost to the business. Just an idea!
-Brandon Richardson-
[addsig]
Souns like you got things going great Brandon. Have you had any success as yet? Do you intend to keep stats on your marketing?
I havent had any leads yet, but I also have not had my first delivery made. I will have 200 or more signs (cost me 21 bucks at kinkos - my next runoff will be much higher volume for cheaper rates) delivered next week wednsday. I expect at least a week to pass before people start responding to the signs already posted in public places.
also, I do plan on keeping marketing stats! I need to know what people respond to. I will be changing the design and color of my signs from delivery to delivery, and recording how many leads I get per month from each delivery (I will ask the person what color sign they got my info from). I also will be running an ad in the paper:
YOU WILL GET PAID CASH - FAST!
Bad credit? No problem!
Foreclosure? We love em!
Give us a call: (xxx) xxx-xxxx
how does that sound? I have my reasons for leaving out the classic "We Buy Houses" heading. any suggestions as to how I should update the ad for max effectiveness? Any input will be appreciated! Thanks!
-Brandon Richardson-
_________________
just gettin into the commercial game, but Im on my way![ Edited by JohnMichael on Date 10/18/2004 ]
Richar18,
With regards to your ad, i think it will work out well except for one small point.
Most papers sort by the letter your ad begins with. The fact that yours begins with an "Y" isn't so good.
If you are at the bottom of the list....you get the point.
SacVestor
I'm in the middle of reading Lewis' "Direct Copy that Sells" and one point he makes is that when writing any copy, every word should mean something.
He also adds that when writing ads & postcards, you should treat every word as if it costs you $1000 to print it.
With that in mind, I would suggest changing your headline to "CASH - FAST", and if you want to be on the top of the column, change it to "$CASH$ - FAST". Punctuation and symbols are placed before any alphabetical letters, therefore insuring your placement near the top of the column.
Just some ideas to think about.
By the way, if you interested in learning more about copy that sells, I HIGHLY recommend the above book. I found my copy used on Amazon for $5.25, including shipping.
I'm in the middle of reading Lewis' "Direct Copy that Sells" and one point he makes is that when writing any copy, every word should mean something.
He also adds that when writing ads & postcards, you should treat every word as if it costs you $1000 to print it.
With that in mind, I would suggest changing your headline to "CASH - FAST", and if you want to be on the top of the column, change it to "$CASH$ - FAST". Punctuation and symbols are placed before any alphabetical letters, therefore insuring your placement near the top of the column.
Just some ideas to think about.
By the way, if you interested in learning more about copy that sells, I HIGHLY recommend the above book. I found my copy used on Amazon for $5.25, including shipping.