Marketing

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I am trying to get a concensus as to the better marketing tool. I have read that some people prefer flyers and others postcards. For a newbie, on a marginal budget what would be the better option? oh oh

Comments(28)

  • thomasgsweat4th October, 2003

    Economically speaking, flyers are the way to go.

    Postcards, as will any mailing, will eat into your pocket. You normally will get enough response from the mailing to get a deal and cover you money, but you will still have the initial cash outlay.

    Flyers require you to work your butt off distributing them so you have some time, gas and copying charges. Minimal compared to postcards.

    I like both methods and both will produce results.

  • BattleBorn5th October, 2003

    chaynes, just my .02 cents worth. I have had more luck with flyers for call generation than I ever had with postcards. This includes multiple mailers of postcards to my farm areas every 30-45 days for 4 months. Start with flyers and add mailers later. Work with in your means to start.
    Good luck,
    Brett

  • thomasgsweat5th October, 2003

    It sounds like you are just blanketing an area rather than targeting potentially motivated sellers. It works, but the response rate is much lower. I choose targeted mailings while using flyers and other means to saturate an area.

  • Allon5th October, 2003

    Hi! I also like flyers. But business cards are a favorite. Knocking on doors and talking with people will get the greatest bang for the buck in my experience. Cavet Roberts used to say " You have to circulate to percolate!" It's as true today as it has ever been.

    Allon

  • thomasgsweat5th October, 2003

    I would agree that speaking directly to people gets the best result however your penetration capabilities are limited. Also, you need to be hitting targeted sellers.
    The key to ROI is identifying your targets and marketing to them. Do enough targeted marketing and your phone will being ring enough that you only knock on doors when you have an appointment.

  • tbelknap5th October, 2003

    You can ask what type of marketing works the best but you will never know. A particular type of marketing may work great in my area but not so great in yours. You really need to test, test and then test some more to figure out what works in your particular area. This is one of the aspects that I enjoy. I have several types from postcards to signs to letter campaigns to newspaper ads. It depends on the medium and the message. Sometimes you can stumble onto something that works and other times it takes a lot of tweaking. The newspaper ads have never brought in many calls but I am going to continue to tweak my message and see how it works. Just have fun.

    Tom

  • Bruce7th October, 2003

    Hey,

    All the posts above have done a pretty good job explaining the difference betweeen the shotgun approach (flyer) and the bullet approach (postcard).

    But have you actually looked at price?

    If I did it correctly, the US Post Office will print and mail 200 postcards for less than $50 or 400 postcards for less than $100.

    For that money, you could get around 2000 flyers (it depends on where and what colors). Plus gas and time.

    So when it is all said and done you are looking at a 4 to 1 ratio, give or take.

    For me, mailing is a much better option.

  • alubeck7th October, 2003

    We get a solid response from personalized letters. you can mail merge property information like OWNERS NAME, PROPERTY ADDRESS, # of BEDROOMS, LENDER into the letter. It really grabs peoples attention, and they call.

  • DerrickAli7th October, 2003

    Bruce and Alubeck are both K-Rekt!!!

    I get the most fascinating responses from my Own EMOTIONALLY-DIRECT Longform Copy-Personal Letters.

    EWhen Mktg to PFL Owners You will need something to CAPTURE THEIR ATTN!!!

    The Best Way to do so is to Think in Terms of WEARING THEIR SHOES while you begin to Draft your letter.

    Personal Letters ARE POWERFUL TOOLS and must-haves for the complete REI Mktg. Toolbox.

    MKTG. TIPS for the Newbie:

    1-Use PLAIN WHITE #10 ENVELOPE

    2-Hand afix Postage Stamps

    3-Hand Write Name and Address Info

    (so that it LQQKS like its PERSONAL and it ADDS to the CURIOUS-TO-OPEN Value so as to be READ by the Prospective PFL Owner.)

    4-Create the Letters to be 3-4 pages long.
    (Include your personal story-tell someone else's story, add local or Ntl. news stories about foreclosure, SING THE SONG of the BENEFITS of WORKING WITH and/or SELLING TO YOU!!! )

    5-Do a MINIMUM of THREE(3) Follow Ups Letters Weekly or Daily to all the PFL owners Targeted by You in Your FARM AREA.

    Ex. Use the SAME Letter Body Copy ONLY CHANGE the HEADLINEs as Follows:

    Letter#1-
    "12 Reasons You'll Sleep Better Tonight After Reading This Letter?"

    Letter#2

    "SECOND NOTICE and Why You Could've Slept Better This Past Week (or Last Night)"
    "---DEAR HOMEONWER: Last Week (or Yesterday) I Sent the following personal letter to You..."

    Letter#3

    "3RD NOTICE"
    (You Only Have One Week -or Day Left Before I Am Unable To HELP YOU!!!"wink

    Letter#4

    FINAL NOTICE

    "IT'S BEEN ALMOST ONE MONTH (or WEEK) and YOU STILL AREN'T SLEEPING ANY BETTER???"

    You ONLY Have You 7 DAYS (or 24 Hrs.) TO ACT! So call me right now!

    Try this out on your next Mktg Campaign and report your progress right here on TCI---Let us know about any challenges you have.

    NOTE: The above is (copyrighted) and is also detailed in my PFL/FSBO Mktg Bible eBook (available here on Shop TCI)Iand has sample personal letters you can also modify and use with my permission!

    All the Best to You All!

    Derrick

  • thomasgsweat7th October, 2003

    What is PFL?

  • DerrickAli7th October, 2003

    Hello Thomas!

    PFL Means Pre-Foreclosure!

    Hope this Helps!

    Derrick

  • MrsMeltzer7th October, 2003

    Have you thought about using the telephone?

    Call people in foreclosure,
    Call the homes in the newspaper that are for sale by owner
    Call people in the newspaper that are renting their homes and maybe they are intersted in selling
    Get some free business cards online and pass them out to everyone you know.
    Call all the other investors in the "real estate wanted" section and see if they have any extra homes to sell you.

    Why spend any money for advertising?

    But the question is flyers vs. postcards.
    I prefer flyers.

    Hope This Helps,

    Mrs. Meltzer

  • Bruce8th October, 2003

    Hey,

    It is exciting to see so many people responding to this post!!

    Just to state the obvious, there is no one and only perfect method of marketing. There may not even be a "best" method, because different approaches work better in different markets. For example, I can't believe that the yellow road side signs that say I BUY HOUSES work, but others swear by them.

    Different strokes for different folks.

    BUT, no matter what options you are considering, marketing IS about bang for the buck. It is the about of resources (money, time and personal effort) that it takes to produce a single prospect.

    So just to look at three relative to each other:

    1) Mailings: High on Cash, Medium on time (you have to find the names and address), Low on Effort

    2) Flyers: Low on Cash, High on Time, High on Effort

    3) Phone Calls: Very Low on Cash, Very High on Time, Very High on Effort

    On the last one, you also should factor in Personal Rejection. If you call someone, they can be abusive on the phone, but no one has ever sent me back a letter.

    Good luck!

  • rmcfarland8th October, 2003

    Mrs. Meltzer,

    How do you get free business cards online?

  • schallerp8th October, 2003

    go to www . vistaprint . com

  • DerrickAli8th October, 2003

    BRUCE

    You Wrote-

    Phone Calls: Very Low on Cash,

    (I AGREE...I use VOICE BORADCAST at a cost of $29 to make over 200 Calls)

    Very High on Time

    (NOT TRUE MI AMIGO...VoiceBroadcast helps me to INSTANTLY make up to 1 or 10K Calls in about one-tenth of a second at one touch of the keypad),
    And I use my FAMOUS PFL Script to get the ATTN and to the HEART of a PFL owner's PAIN---this wakes them up to both THEIR and OUR COMMON ENEMY called TIME!!!--Helps you to QUICKLY get to the POINT of CHOOSING YOU or dealing w/the PAIN their Lender is putting them through.)

    Very High on Effort...

    (Not if You Have a SCRIPT, TARGET your PFL Location, AMOUNT of LOAN or PROPERTY VALUE etc.)

    The more FOCUSED you keep you PROSPECTING the Better RETURN and SHORTER Turnaround time to PROFIT!!!


    BTW---RCM:

    www.Instaprint.com has the 250 FREE BCards special.

    I Hope this Helps!

    Derrick

  • Sash8th October, 2003

    Derrick

    What do you mean by VoiceBroadcast? Is that some kind of service?

    Thanks
    Mike
    [addsig]

  • DerrickAli8th October, 2003

    Sash:

    I use a co. called soundbitecom their are very affordable and flexible plus you can carry over unused call minutes that are prepaid in 200 minute blocks for $29.95

    There are others out there with plenty of doo dads, Bells, Lights, and Whistles, etc.

    Google "Voicebroadcast"
    and search for other co.s and/or more options.

  • Sash8th October, 2003

    Doesn't the "do-not-call-list" affect the ability to call people in pre-forclosure?

    Mike
    [addsig]

  • DerrickAli8th October, 2003

    Sash:

    Not to my recollection...besides the DNC Lit is still pending a decision whether it is anti-democratic and/or whether the FTC overstepped it's jurisidictional-authority to inact it.

    Feel free to dial---no law--- that I know of as yet- restricts YOU as a PRIVATE PERSON from contacting the public at large to buy their home.

    I hope this helps!

    Derrick Ali

  • dozu8th October, 2003

    why is newspaper ads not the most cost effective?

    Here I can put a 3 line in Philadelphia Inquirer for $60, circulation 700,000

  • Bruce9th October, 2003

    Hey Derrick,

    I think your point (which to me is, there are technological ways to better your marketing plan) is great.

    I also 100% agree that targeting a market is the way to go.

    Regrettably, I don't think Autodialers is the answer here. This is for several reasons:

    1) First and foremost, under new FCC law the use of Autodialers is illegal to residential homes for the purpose of solicitations.

    "Calls using artificial or prerecorded voice messages - including those that do not use autodialers – may not be made to residential telephone numbers except in the following cases:

    emergency calls needed to ensure the consumer’s health and safety;

    calls for which you have given prior consent;

    non-commercial calls;

    calls which don't include or introduce any unsolicited advertisements or constitute telephone solicitations;

    calls by, or on behalf of, tax-exempt non-profit organizations; or

    calls from entities with which you have an established business relationship."

    2) The new DNC law DOES apply, so you would have to filter out those phone numbers also. Currently (Oct 9), this law is enforcable.

    3) In my earlier example (and forgeting about 1 and 2 above), you would have to obtain the list of phone numbers for a target area and that would increase EFFORT.

    4) There is a minor cost for the service.

  • thomasgsweat9th October, 2003

    I would argue the DNC law. It is a telemarketing law restricting telemarketing.

    At it's most basic level it is restricting those who are calling to solicit the sale of goods or services. Not stopping the calls from people who want to buy something from you.

  • thomasgsweat9th October, 2003

    From FTC:

    Who Must Comply With The Amended TSR?

    The amended TSR regulates “telemarketing” — defined in the Rule as “a plan, program, or campaign . . . to induce the purchase of goods or services or a charitable contribution” involving more than one interstate telephone call. (The FCC regulates both intrastate and interstate calling. More information is available from www.fcc.gov.) With some important exceptions, any businesses or individuals that take part in “telemarketing” must comply with the Rule. This is true whether, as “telemarketers,” they initiate or receive telephone calls to or from consumers, or as “sellers,” they provide, offer to provide, or arrange to provide goods or services to consumers in exchange for payment. It makes no difference whether a company makes or receives calls using low-tech equipment or the newest technology – such as voice response units (VRU’s) and other automated systems. Similarly, it makes no difference whether the calls are made from outside the United States; so long as they are made to consumers in the United States, those making the calls, unless otherwise exempt, must comply with the TSR’s provisions. If the calls are made to induce the purchase of goods, services, or a charitable contribution, the company is engaging in “telemarketing.”

    Certain sections of the Rule apply to individuals or companies other than “sellers” or “telemarketers” if these individuals or companies provide substantial assistance or support to sellers or telemarketers. The Rule also applies to individuals or companies that provide telemarketers with unauthorized access to the credit card system.

  • chaynes9th October, 2003

    i really appreciate all the responses everyone has provided.

    I do have a question though to Bruce Draftee Investor... why do you think sending mailings is "low on effort". I mean wouldn't the research of all the prospects be time consumig within itself?

  • Bruce10th October, 2003

    Hey Guys,

    Thomasgsweat---You make a very valid point, but not one I would want to argue in court. I do not think it is any stretch of the imagination to preceive what we are doing is a Service to the Home Owner. In point of fact, I have seen that exact term used repeatedly in letters/flyers/cards/etc. Add that to the fact an Autodialer is contacting hundreds, if not thousands, of home owners and I believe you would have a hard time convincing someone you were NOT a telemarketer.

    Chaynes--I was trying to show the options relative to each other. Obviously, any marketing campaign requires Cost, Time and Effort. The amount of effort you put in to obtaining your names, in my opinion, is much less than delivering flyers door to door (or mailbox). For example, if you wanted to send a postcard to the owners of non-owner occupied houses, you can pull the names off the county records on the internet. I just timed it and in 10 minutes, I printed out 15 names and tax addresses for non-owner occupied houses. After I mail the first card to them, those names and addresses are still in my database, so I can now send second/third/fourth mailings for basically no Effort.

    I hope that helps!

  • thomasgsweat10th October, 2003

    These two are separate issues.

    The definition of a telemarketer and/or telamrketing activity has nothing to do with the type of equipment used. That is actually stated in the new rules.

    My background is large, multi-site call centers. We were not telemarketing, but were calling individuals with whom we or our client had a relationship. We did however see lawsuits concerning autodialer activity which we fought and won. When speaking of autodialing it is important to understand the different definitions used in different laws and the requirements for operating such a campaign.

    As far as being a telemarketer.... Investors don't sell services and if they are advertising that they do then they are not investors. We purchase, hold and sale real estate. If we were to place calls for tenants or buyers then we would have a potential problem. If we place calls seeking somone interested in selling their property then we are not telemarketers.
    To classify anyone who calls poeple using an autodialer as a telemarketer is akin to saying that everyone who drives needs a commercial drivers license.

  • DerrickAli11th October, 2003

    ThomasG:

    I agree and Bruce...I too have a background in call center mgmt.

    During that phase in my career we too were often accused of telemktg. and although we were never sued people often confused us with telemktrs.

    Now my point Bruce (and I am CONFIDENT about standing behind it in any court) IS that auto-dialing a list of homeowners WHOSE LENDERS Have OFFERED THEIR HOMES UP FOR PUBLIC SALE are NOT TARGETED AS CONSUMERS but RECIPIENTS...

    What Judge would Agree that your INTENT was to SELL GOODS or SERVICES to this group and NOT PURCHASE the DISTRESSED HOME or LOAN them (BUY INTO) Part of their EQUITY to ASSIST THEM IN KEEPING Their HOME IF They CAN AFFORD TO?

    So I think your take on our (my own) application of VoiceBroadcast is out-of-step with the FCC's DNC List's constricts...Political, charitable, and Community-Awareness (e.g. Public Service Messages) are examples of exempt activities.

    I further challenge the assertion that Mktg. my ability to resolve a distressed homeowner's eminent loss of property by contacting them and also presenting them with options to avoid this loss (AT NO CHARGE), IS NOT TELEMKTG as defined by the FCC as it relates to the DNC List.

    Should a homeowner challenge this (my calling them) My documented history of assisting numerous homeowners and the myriad workout plans they acquired with their lenders due to my own intervention will speak for itself.

    I hope this helps clear things up a bit!

    Derrick

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