Viewing entries tagged marketing Subscribe to feed

Don’t Copy These Retail Strategies, If You Want A Booming Real Estate Wholesaling Business

by blogger1
blogger1
Guest has not set their biography yet
User is currently offline
on Thursday, 08 June 2023
BestTransactionFunding

The retail industry is cannibalizing itself. We are seeing the results daily. With more stocks plummeting, big companies losing market share, and having to conduct huge layoffs.


Yet, many small businesses still think that they should copy some of the very same tactics and campaigns that are sabotaging and bankrupting these companies.


Losing Retail Strategies Not To Copy

Rewards programs have become the downfall of many companies. For a start, they are often confusing and frustrating, and just lead to losing trust and more friction in the hard one relationship.


No one has time to sign up for more rewards or discount programs. If you went around a mall today, and gave out your number to every retailer, you may end up spend half a day of your precious time deleting and unsubscribing from all the junk mail and texts.


Which in turn means that all the effort put into these programs is wasted capital on behalf of the business. It just causes more efficiency and friction at checkout, and ruins the user experience.


Especially in the wholesaling business, if you just give people the best deals, they will keep on coming back. No need for gimmicking programs. The money you save on the junk processes can then be simply passed on in lower prices, earning more business and customer loyalty organically.


This can also apply to online sign up walls, or forced activities on social media like sharing with friends to get a discount.


Similarly, trying to force autopay on customers you finance can wreck the relationship and rob you of repeat business if it isn’t working well.


Another is popups and ads on your website. If one popup ad isn’t working, then adding ten more if only going to hurt you 10x more, rather than helping.


The Essence Of Wholesaling

The very essence of wholesaling is to buy low and sell low. Do this, and provide an efficient and streamlined process with a good user experience, and you will win plenty of customers, and they will keep on coming back, and grow the amount of properties that they are buying from you. They will want to refer others.


Save the money on wasted gimmicks and features that detract from that, so you can give better deals, and enjoy better overall net profits. Then you can also build up your budget to do more marketing and fill the top of the funnel with more prospects. Through ways that give them more value and make their lives better and more enjoyable.

Rate this blog entry
1 vote

5 Ways To Find Real Estate Deals Now

by blogger1
blogger1
Guest has not set their biography yet
User is currently offline
on Tuesday, 01 February 2022
BestTransactionFunding

 

Reselling properties seems to be a slam dunk for real estate wholesalers and flippers. Tens of billions of dollars in capital, and millions of buyers are looking for house deals, and rental apartments. So, where do you find more inventory to serve them and scale up your investment business?


Networking

Now that the worst of the virus seems to be behind us for now, and people are eager to get out and mix in person again, this could be the time to kickstart your networking.


This can be casual networking as you go about your daily life. Or it can be at professional networking events. If there aren’t any happening near you, maybe you can start your own.


Expand from the usual real estate investor and agent circles. There may be attorneys with landlord clients who really want to sell. Or corporate executives who need to restructure their real estate, or help employees with their housing situations.


Aged Leads

Some of the most successful high volume real estate wholesalers find that 90% of their deals come from the follow up.


Every lead can be a deal. It is just a matter of being there and connecting when it is the right time for them. So, consider a new campaign targeting your old leads.


Update your database and CRM. Try email newsletters, text, and other contact methods you have to reconnect with them.


Mortgage Lenders & Note Investors

This is a space which has really exploded in popularity over the past couple of years. Of course, that doesn’t mean that every new lender and note investor is being successful. Or that every one of their loans is performing. These can be great relationships for tapping into a regular volume of deal flow.


Direct Mail

While people may be emerging from lockdowns again, travel is still very limited. Especially ahead of peak summer travel season, this may be time to hit prospects with direct mail at home.


Marketing seems to be coming full cycle again. The FTC says consumers lost $770M to social media scams alone last year. People are quickly losing trust in online marketing. Showing up in the real world could help you stand out. Just don’t do those cringeworthy old postcards.


Be creative and unique, and mail something that will stand out.


Create A Niche Destination Website & Blog

The bulk of the real estate activity now is moving away from restrictive and dense big cities and to new areas. Why not create a destination website and blog for movers and investors exploring your area for the first time? This could be one of the easiest ways for you to stand out online.

Rate this blog entry
1 vote

Is Your REI Business Prepared For Post Digital Marketing?

by blogger1
blogger1
Guest has not set their biography yet
User is currently offline
on Wednesday, 26 January 2022
BestTransactionFunding

 

How is your real estate investment business preparing for the new era of post digital marketing?


Everything is cyclical. The economy, the real estate market, and marketing. Just as we’ve seen some of the biggest changes in the first two of these, another super cycle change is primed to happen in marketing.


For those that have been in the business long enough, we’ve seen the rise and fall of direct mail, outdoor advertising, cold calling, purchased internet leads, and email, and more recently PPC and social media.


More and more factors are building up to force a new change in marketing, and what works and doesn’t. Ensuring your business is ready, and ahead of the game is likely to make all of the difference in deal flow and cash flow, as well as who survives and grows, versus those that fold.


The End Of Digital Marketing

The trust is gone, and more limitations and rising costs are accelerating the demise of digital marketing as we’ve known it for the past decade.


We recently saw TikTok surpass Google and Facebook to become the most popular website in the world. We’ve seen major online companies that should have been poised to dominate after COVID end up losing 30% to 70% of their stock value, and running into serious issues. Those include companies like Zoom, Netflix, Upwork and Better (mortgage). In most cases they seem to be failing because they made disastrous short term decisions at the expense of their most loyal customers and their reputation.


Google is getting hit with more and more lawsuits and limitations. The latest accuse it of misleading users about the tracking that has been happening even when they thought they turned off location services. This will directly impact PPC advertising and SEO.


Real estate advertisers have also been driving themselves crazy and burning enormous amounts of money on junk. Including new grammar checking apps, SEO analyzers, and joining groups offering tons of self-sabotaging duplicate content, such as blogs and white papers.


This is on top of rising costs from bots, and scams, often initiated by advertising platforms like Facebook themselves.


Then there is spam, spam, spam. Now it is not only phone calls and social media like LinkedIn, but in text messages and ads too. Countless consumers have also been burned trying to buy things directly over social sites like Instagram, and may be vowing only to do business with local sellers they can see and hold accountable.


Post-Digital Marketing: What’s Next?

As consumers and businesses get burned out on digital marketing, grow tired of losing money and won’t even take a chance on it anymore, what’s next?


What marketing will work and be useful after the digital we’ve grown accustomed to? Especially if you are trying to buy, sell or rent real estate?


Half the country has already decided that they want to be free and return to normal activities. They aren’t interested in vax mandates, masks, or restrictions. So, outside of the Northeast and California, expect in person meetups, in person sales presentations, groups, and experiential marketing in the real world to make a huge comeback. More modern, boutique offices may also reappear with new innovative twists.


As more and more people migrate and move, signage may be more important as they explore new areas.


Those stuck at home in the most restrictive states, may see direct mail once again seeing great results.


These are all things that require marketing, just different types. It may be authentic and original mail, pitch decks to present on your device in person, what you wear, etc. The question is, are you investing in these materials and copywriters, strategists, part time, fractional or remote CMOs to help you win in this transition and new era?

Rate this blog entry
0 votes

4 Lessons From Google’s New Hour Long Ad

by blogger1
blogger1
Guest has not set their biography yet
User is currently offline
on Thursday, 17 December 2020
BestTransactionFunding

 

Google recently began running an hour long video ad to promote itself between YouTube videos. That’s pretty extreme, when most ads in this space are likely 15 to 120 seconds, and are designed to get the message across in 5 seconds or less.


So, what can we learn about this extreme dose of ad info which Google no doubt spent an enormous amount of money to shoot, edit and publish?


What does it mean for real estate investors and professionals in this space?


You Need To Keep Marketing, No Matter How Successful You Are

You don’t just get to a point where you can stop marketing or slack off on it. There is a reason the biggest brands like Nike, McDonalds, Microsoft, Apple and Uber keep marketing. They have to. Creating an ad like this one from Google might cost most companies six or seven figures to produce. Just one ad. Your budget may not be that big yet, but keep on growing your marketing spend every month.


Trust Is Hard To Earn, Easy To Lose

Especially today, with so many companies moving online, it is hard to earn trust. It doesn’t take much to lose it. If you have to run an hour long ad to try and convince people to still trust you, you’ve already lost that trust. If you have billions of dollars to run propaganda to restore your brand after a hiccup, you can do it. Most can’t afford it. Avoid losing trust in the first place.


The Right Way To Approach SEO

In this ad, Google not only revealed that it changes its SEO rules and rankings 6x per day, but those changes are the results of over 200,000 test runs and tweaks. Most real estate companies don’t have the budget and flexibility to keep up with that.


Many of Google’s SEO rules and guidelines for quality content are public. They will take a lot of time to read, and of course they are always changing to stay ahead of those trying to game the engine.


SEO and ranking well on Google does have a lot of value for real estate companies and professionals. Though resources may be better spent simply focusing on creating quality content, with authority, and interesting content people will want to share. That is evergreen content that will keep working for you later today, tomorrow and in 10 years, despite all of the algorithm changes in between.


40% Of Websites Are Spam

Google says they consider around 40% of all websites they crawl to be spam. Is yours one of them?


If it looks cheap and salesy, or you are trying to cram in keywords, expect them to keep decreasing your rankings or ban you.


Focus on better design and more value.

Rate this blog entry
1 vote

The 5 Biggest Marketing Mistakes Real Estate Wholesalers Are Making This Year

by blogger1
blogger1
Guest has not set their biography yet
User is currently offline
on Thursday, 23 January 2020
BestTransactionFunding

 

Are you about to make one of these deadly marketing mistakes?


This is looking like a fantastic year for real estate wholesalers. There are millions of motivated sellers. There is plenty of money for deals. Landlords and rehabbers are still looking for inventory. However, to connect all the dots requires marketing. As a new company just a year or two old you might be spending just $10,000 a month on this. If you’re moving fast you might have over a billion dollars to grow your business through marketing this year. No matter what your budget, the key is getting the most out of it. Fail to do that for a couple of months and you could be facing bankruptcy.


Here are the five top mistakes not to fall into now…


1. Copying Tactics That Don’t Work

The number one mistake real estate investors are making is copying tactics they see others using, but don’t really work. Or at least don’t work well. Just because someone looks successful, doesn’t mean their marketing is really working. At least it may not be working on anyone but you. They might have just put their last dollar in marketing to you, and are a week away from going broke.


If you don’t know the returns they are getting you really don’t know. This can apply to investment strategy, websites, videos, ads, the length of your content and podcasting.


Test and watch your data before you go all in.


2. Cheap & Flawed SEO

Trying to get noticed by the search engines and to rank high on Google can have great advantages. Yet, most get it horribly wrong and waste lots of money on these efforts. Most actually do more harm than good to their rankings and visibility.


The most common reasons for failure here, include:


  • Hiring cheap SEO companies

  • Keyword research by people who don’t really understand the real estate industry

  • Copying outdated online suggestions over putting yourself in your customers’ shoes

  • Ignoring common sense when picking keywords

  • Not reviewing and updating keyword research and SEO on a monthly or quarterly basis


3. Taking Bigger Competitors Head On

You wouldn’t try to take a semi head on if you were driving a Prius on the road, right? Yet, many investors do this every day with their marketing. You can’t directly take on competitors who are spending $30,000 on blog content a month, or who are happy to throw away 4 billion dollars on online ads this year just to drive you out of business. Not if you are only investing $10k a month in your own marketing. You have to be creative and find a competitive edge and unique way to stand out.


4. Not Providing The Communication Options Your Ideal Customers Want

You might really want to get motivated sellers on the phone for a live pitch call. For all the same reasons they really don’t want to do it. You can spend $1M on ads to drive traffic to your website. Yet, if your only option is to call or use Facebook Messenger, you might only convert 1 in 1,000 hot leads. The rest are onto your competitors’ websites looking for other options. Like emailing, texting for help and live chat features. Remember, it’s not about you. It’s about them. Recognize that the last thing distressed sellers want is yet another person on the phone reminding them of how desperate their situation is and pressuring them.


5. Not Getting A Marketing Coach

Even if you don’t have other types of coaches and advisers yet, you already know that the best in every field has one. Given that 90% of your business relies on marketing, this is the most important part of your business to get help in. You don’t have to spend $40,000 on a cheesy coaching program full of fluff, but it pays to have an expert adviser to help you leap pitfalls and get right to winning in this area.

Rate this blog entry
0 votes

The Top 5 Reasons Real Estate Wholesalers Fail

by blogger1
blogger1
Guest has not set their biography yet
User is currently offline
on Wednesday, 18 July 2018
BestTransactionFunding

 

Why do so many real estate wholesalers fail to get the results they hoped for while others seem to make money so easily with this strategy?

Some seem to leap in, start making big checks fast and then seem to keep making great money with multiple deals each month with ease. For others it can feel like they are just stuck, are still spinning their wheels after months, or just can’t breakthrough from doing a deal or two a month to that 10 plus sweet spot. What makes the difference?

1. Goals

You aren’t likely to get what you really want without tangible goals and effective goal setting. You can’t just have fluffy wishes. Set concrete milestones, and invest in really working them.

2. Marketing

The number one reason real estate investors fail today is probably marketing. You don’t have a business without marketing. If you do one thing - get a good marketing team and hit it hard every month. Make sure you are engaging in a good mix of marketing mediums from mail to email to online ads and more. Commit to quality marketing and staying consistent.

3. Having a Good Lead Funnel

There are lots of ways to generate leads online and get traffic to your web pages. Yet, there can still be a big gap between awesome marketing and traffic generation and getting real leads and conversions that turn into real estate closings and cash. Be wary of blowing money on ads until you’ve got an effective landing, good looking website, and a system for handling incoming leads effectively. One big mistake being made here today is that real estate investors are blindly following gurus and marketers who make big claims without any rational to back it up. They say they offer ‘websites with SEO’. What does that even mean? What do they consider good SEO? How do they know what your best clients are searching for? Be sure to apply common sense thinking, think for for yourself, do actual research and be willing to test different options.

4. Follow Up

You can bring in thousands of good leads by phone, email and social media. It won’t make a penny worth of difference unless someone is following up and closing them. If you don’t have the time, hire someone to take the calls and return Facebook, email and website inquiries immediately. That lead is probably going to keep searching and contacting the competition until they connect with someone. Be the first one to follow up.

5. Taking Action

You can sit in all the classes, go to all the events, and pass by great deals every day. You won’t get paid until you take action. Successful wholesalers are making offers every day. Know how many offers you need to make each day to hit your closed deal and income goals. Don’t do anything else until you make that many offers.

Rate this blog entry
1 vote

Real Estate Wholesaling Marketing: Beyond Direct Mail…

by blogger1
blogger1
Guest has not set their biography yet
User is currently offline
on Wednesday, 30 May 2018
BestTransactionFunding

 

Direct mail is a common starting point for real estate marketing for wholesalers. What happens when you hit a wall and your business stops growing, or you just don’t get the traction and action you hoped for?

Boosting Your Direct Mail Performance

Some very successful real estate wholesalers swear that direct mail is the only marketing medium they need to get all the business they want and can handle. So, it works.

If your response rates are good and ROI is good, you might just ramp up your mail campaigns. Instead of 5,000 pieces do 7,500 or 10,000, and so on. You can expand your market area if needed or hop into new markets to make up the numbers.

If your response rates could use some improvement consider:

  • Finding better mailing lists

  • Testing a variety of mail pieces

  • Testing different landing days

  • Investing in a professional writer for better copy

Going Beyond Direct Mail Marketing

Even if your direct mail game is on fire, it just makes sense to diversify. Sooner or later one of your mail campaigns could let you down. It’s just the nature of marketing. If that’s your only horse in the race, and you don’t have a solid reserve fund you could be out of business. Instead, consider diversifying your marketing mix early.

Other starter marketing methods may include:

  • Basic social media marketing

  • In person networking

  • Signs

  • Working through real estate agents

  • Referral marketing

  • Email marketing

  • Real estate blogging

If you are ready to step it up, be aggressive and really go after growth and quick results consider:

  • Paid social media advertising

  • Google Adwords

  • Ringless voicemail marketing

  • Bulk text/SMS marketing

  • Telemarketing

If you’re not sure which way to go, one great clue is to not only listen to the advice successful educators are offering, but what they are doing themselves. They may be telling you to do direct mail, but they are selling you on that through email, YouTube videos, webinars and radio ads. Think about it.

There may always be a place for direct mail in your marketing mix. It’s just wise to be diversified early and to have more than one thing working for you. If direct mail isn’t producing the results you hoped for, try something else. If it’s just hitting a plateau, then keep tweaking and testing, while trying out other media channels.

Rate this blog entry
0 votes

Finding Motivated Sellers as a Wholesaler

by blogger1
blogger1
Guest has not set their biography yet
User is currently offline
on Friday, 16 June 2017
BestTransactionFunding

 

Motivated sellers make or break your career as a wholesaler. Without a seller ready to give you a contract, you're pretty much dead in the water.

Finding motivated sellers isn't always easy. There are plenty of traditional ways to go about finding these sellers, such as bandit signs, auctions and real estate meetings. However putting this into a plan you can actually use is quite different.

Before you start looking for the right sellers for your wholesaling business, you need to understand why they are so important. Without these sellers willing to sell you their discounted property, you don't have much to make money from. You need these off-market properties to create success as a wholesaler.

Motivated sellers bring you a property they are ready to sell, usually due to a life-changing event. Maybe they need cash fast because of an illness, a divorce, or because they inherited the property. No matter the reason, they are ready to sell and they want to get the deal done fast.

There are several ways to find motivated sellers with properties they want to sell fast. Here are just a few of the top choices.

Direct mail. When you sent out postcards through the mail, it only takes one deal to cover your expenses for about an entire year using this marketing method, maybe longer. You have to figure out your target market first and get a list of the address/names for that market. The good news is that it is very scalable, and can bring in quite a few deals. It's pretty easy to spend a few thousand dollars on direct mail marketing and come out of it with multiple deals.

Driving for dollars. It's hard work and a bit like pounding the pavement, but driving for dollars is a great way to find motivated sellers, especially when you're on a tight budget. If you don't have much to spend on marketing, this is one of the least expensive ways to find your next deal Look for properties with high grass, boarded windows and those properties that simply look ugly. Then, write down the address and find out who owns the property from your local tax assessor's website. You can easily find the owner's contact information with skip-trace software and give them a call about the property.

It's free, and some of your best deals may come from looking on Craigslist. People put up properties they want to sell there all the time. Not only can you search for these properties for free, but you can also put up your own ads on Craigslist.

There are many ways to find motivated sellers. Sometimes, you have to think outside the box, but you don't have to reinvent the wheel. When things are moving slowly, get to work and start marketing your wholesaling business for your next deal.

Rate this blog entry
0 votes

4 Ways Property Wholesalers Can Help Their End Buyers Be Successful

by blogger1
blogger1
Guest has not set their biography yet
User is currently offline
on Thursday, 29 September 2016
BestTransactionFunding

The more property wholesalers help their end buyers be successful, the more they will be successful themselves.

Wholesalers who are serious about succeeding will proactively look for ways to help their end buyer customers. The more profitable and efficient they are, the more homes you can sell them, the more loyalty and trust you will build, and the more you’ll enjoy what you do.

So how do you help your rehabbers and landlords who are buying your properties?

Pile on the Referrals

As a true wholesaler you may not be interested in retail buyers, or getting involved in renting or rehabbing at all. Yet, chances are you’ll run into plenty of these leads every week. Pass them forward.

This can include renters, Realtors, contractors, retail home buyers, and buy and hold investors looking for rentals, as well as lenders offering long term financing and rehab cash.

Provide Better Intel, Earlier

What slows most rehabbers down the most? Evaluating properties and getting the work complete. So give them a better head start. When you can get them access to the property in advance. When you can’t provide more detailed information, repair estimates, repair needs, etc. If you let them know what deals you may have coming up, even before you are ready to close on the B to C transaction they can be sure to have their financing and crews lined up too.

Share Marketing Tips

What is the biggest sticking point for more end buyers? It’s getting that property resold or rented so they can bring cash in and buy more inventory from you. Help them with that. It is only to your benefit. According to RealtyTrac flip times are at a new record high of over 6 months! That’s crazy. Start a real estate blog and share marketing tips to help them move their deals faster. Share tips you find via social media and email too. They’ll appreciate it, and you might generate more end buyer leads in the process.

Be Consistent

Stay consistent with your inventory conveyor belt, the quality and accuracy of your deals, the match for your end buyers, and the frequency. If they can rely on you to have the good deals when they want them then they will keep coming back.

 

Authored by BestTransactionFunding.com - the leading source of transactional funding for real estate wholesalers in the US. 100% financing, and saying “Yes” is what we love doing all day long.

Rate this blog entry
0 votes

Facebook Hijacks Real Estate Investors’ Emails

by blogger1
blogger1
Guest has not set their biography yet
User is currently offline
on Tuesday, 26 June 2012
BestTransactionFunding
News broke this week of Facebook ‘hijacking’ user’s emails. So is this last straw and time to ditch the social network or are its marketing opportunities only getting better for real estate investors?

Bloggers broke the story about the social networking giant ‘forcing’ a new @facebook.com email address on its users and publicly displaying it on their timelines and pages. Many are annoyed by this and some may desire to block this and change the address but on the upside this means 900 million email addresses for real estate investors to grab from the web for future marketing. It potentially means an easier way to contact Facebook users, get them to like investors’ pages and offers a backup in case pages and fan lists are ever lost.

Some attention seeking reporters have been predicting the downfall of Facebook in 5 to 7 years from now but the reality is that share prices are moving back up and a new blitz of marketing opportunities are making the platform much more profitable and attractive for real estate investing pros. 7 years is a long way away and savvy investors could easily be retired by then is they hustle now.

New marketing opportunities being rolled out by Facebook include more targeted marketing with the Facebook Exchange, Sponsored Stories which can also be featured on Zynga and one click ad set up for adding affiliate products to offset marketing expenses.

Despite this all potentially leading to a lot more noise for consumers all at once, let’s face it, millions of users are hopelessly addicted to the social network and are no tied in tighter than ever, especially with the always on feature on the new iPhone OS. In fact, if real estate investors don’t have another mobile marketing strategy in place this is an easy and fast way to get on the train.
Rate this blog entry
0 votes