Home Based Business Marketing Methods

How many tools and techniques do you take advantage of for your home based business marketing strategies? Do you limit your home business to merely a few marketing methods? Worse yet, are you trying to teach everybody in your sales force how to work with the exact same home based business marketing method? If you have not entirely learned yet that not everybody will be victorious using all the same tools, I invite you to read my preceding post named – Home Based Business Marketing – The Delusion of Replication.

Once you understand why you want to increase your home based business marketing toolbox, the subsequent inquiry is how. Many individuals don’t offer alternative types of marketing as they either don’t know what is at hand or they do not understand the way to train it. You will learn more facts about the miscellaneous options up for grabs and so you can move your sales force to make the appropriate choices for themselves.

Why should you give heed to what I am sharing? For the reason that if you do not expand your home based business advertising knowledge and allow your group increased plans to function with, they will eventually identify someone which will. To put it plainly, you must give up to go up. Which means not merely sacrificing for the larger target, but it also indicates you need to be willing to concede that you do not know everything and that you are not good at everything. Your team will appreciate you more in the long run if you hold enough tenacity to be honest with them and point them in the appropriate path with reference to who they may learn whatever they like to learn from.

Don’t Overlook These Important Home Based Business Strategies

Every home based business marketing toolbox ought to involve both offline and online methods. The truth is, many people like traditional face to face marketing, and another group of people favor the internet and telephone. Not everybody possesses the technical abilities to plunge into online marketing right away. You’ll also function with others that don’t by and large take to sitting in front of a pc or staying connected to their phone steadily.

Many individuals take to communicating in front of a room brimming with people, however innumerable individuals become faint and nauseated just at the thought of public speaking. One home business owner may favor selling merchandise, and another may enjoy recruiting additional people. You could have a few team members which are unusually good at developing advertisement copy, and team members who have never drafted an advertisement in their career. As you can see, the formation of your hbb is made up of all unique parts which all function in a different manner. It is your basic reason for developing a multiple method platform.

Examples You May Entertain For Your HBB Promo

The 1st and most accepted form of Home business marketing is direct marketing. This is marketing that targets your concise market directing your ideal prospect to assume action, either it is going to your internet website or phoning you.

Home based business promotion uses both online and traditional methods to exercise such. Offline examples could be snail mail promotions such as postcards, a letter, plus newsletters. Another example would be to use print ads such as newspaper classifieds, bulletins, or magazines. Those with a larger advertising budget might work with radio stations or even TV. Currently I have encountered some creative methods like lawn signs (like the ones you see during political campaigns.) Alternative types of conventional strategies are networking meetings, referral organizations, meetup groups, conventions along with trade show booths, drop-boxes or fish bowls and you will not neglect cold calling.

Internet options may include but are not limited to: emailing, social networks, submitting articles, promoting videos, PPC, hosting a blog, free classified ads, ezine ads, forums, list builders, and so on. Online strategies used for home based business marketing can also include online versions of postcards, newsletters, etc.

Home based business marketing is not limited to direct response marketing. Other methods can be applied as well such as reverse marketing and indirect or passive marketing. Regardless of which methods you personally use and teach, I highly advise investigating one method called attraction marketing. In a nutshell, attraction marketing is the method in which customers are drawn to you and magnetically desire to work with you, free of you actually soliciting them to. Attraction marketing should be your fundamental method of operation with any promotion options you use.

Your HBB Advertising Action Plan

Before you take off in ten different directions, there is something you need to know. You can’t be an expert in all hbb advertising strategies. You should though, come to be well-rounded with reference to what is actually accessible to take advantage of. The reason you have to do this is so you may point your partners to the best hbb marketing options for them, based on their strengths and gifts.

You become profitable by helping others become victorious. The best way to help more team members prosper is to supply them the options and direction they need suited to their personality. You throw them the football, however they have to hustle. Your first step is becoming familiar with what is out there. You do not have to know everything. For your own individual victory, concentrate on becoming truly great at one thing, and good at the rest.

Directionals Move Properties

One of the most effective and frequently overlooked methods of filling or selling a property is the use of directional arrow signs. I’m guilty of it myself, although usually I’m merely lazy instead of overlooking this great marketing technique. Being lazy usually costs me in terms of holding costs, especially if you happen to be in a buyer’s market as I currently am. Even if you’re in a hot market where everything is moving quickly, directionals will move your property that much quicker.

Yes, there are numerous other methods you can use such as: flyers in the neighborhood and large stores and shopping malls, ads in the large and small papers, listings on the internet, listing with a real estate agent, calling real estate agents to inform them, mailouts to apartment complexes, yard signs with flyer boxes, open houses, calling loan officers, emailing your buyer list, etc., etc. (I have one friend use advertises her properties on the cable preview channel and she says it works great. Unfortunately, that option isn’t available in my area.)

Why Do Directionals Work So Well?

Directional arrow signs work well for a number of reasons. First, they are targeted to the neighborhood where the property is located so the folks who will actually see them are the buyers or tenants who are already driving the neighborhood looking for properties. The second group of people who will see the signs are the residents who already live there. Many times the nearby residents will have family or friends who want to move into the neighborhood.

Flyers delivered to the neighborhood will also accomplish the notification aspect that there’s an available property, but what flyers don’t do is lead the prospect or prospect’s friend straight to the front door.

Why Not Just Use Typical Bandit Signs?

For those that don’t know, bandit signs are the road-side signs that many people utilize to advertise their business, favorite politician, and/or properties for sale or lease. The signs come in many colors and sizes, some professionally done and some hand-written. The nickname bandit signs stems from the fact that many municipalities have sign ordinances that prohibit their use or restrict use in the public domain or right of way.

The primary weakness of typical bandit signs for marketing a property for sale or lease is that the sign provides a little information (often impossible to read while driving by) and a phone number. If I’m out looking for properties today, I don’t want to leave a message or turn around to go see what the sign said. I want to drive by NOW, not tomorrow, not later today, right now.

How is a Directional Arrow Sign Different?

Who said anything about one directional sign? I’m talking an entire series of signs that leads the prospect from the main thoroughfare all the way through the neighborhood to the driveway of your property. There’s no thinking, major squinting, turning around, or phone calls involved here. “Oh, honey, turn there quick.” Then it’s “look, there’s another sign, turn there.” etc., all the way to the property. Then, of course, there’s more information including contact numbers available at the property.

Okay, So How Do I Implement This Technique?

Here’s the way I do it and you should tweak it and improve to suit you. When a property becomes available, I study the neighborhood and determine the “best” ways to lead prospects to my property. By “best”, I take into consideration ease of navigation, neighborhood amenities like parks and schools, and surrounding properties. If there’s a back way into the subdivision or location, I map out both paths.

My target locations are every single corner that my prospects will need to turn in order to get to the property. If there’s a really long stretch without a turn, then I might need a directional arrow in the middle of that stretch to keep them coming. My experience has been that I will have to replace signs within the neighborhood only a few times, but I have to monitor the signs on the major roads and replace them fairly frequently. However, these signs tend to stay put much longer than a traditional bandit sign.

Then I simply go door-knocking and ask people if I can place a small directional sign in their yard. I intentionally do this during the day to miss folks because I’d rather not get involved in lengthy discussions about the property and I’ve got many doors to get to. Once I’m sure no one’s home, I leave a letter in the screen door or someplace where it will be easily seen. I drop this letter at all four houses on each corner on the route.

What Does the Letter Say?

I’ve found it’s important to NOT come across as a real estate investor or a company. I use an informal style and simply ask for help in finding someone to buy or lease my property. Points that I include in the letter are:

It’s just a small directional arrow sign
I’ll put it right by the corner and not really in their yard
I’ll make sure I don’t damage any sprinkler systems
They get a $20 gift certificate once the process is done
They get to choose the store, restaurant, etc.
Please call me to replace the sign if it gets removed
The first person who calls me wins

This technique has never failed. Frequently, I’ll have two or more people from each corner call me, but I’ve always had at least one person call to agree to the arrangement. Some of them have even taken serious offense to do-gooder neighbors who remove the signs as the property owner is concerned they might not get their gift certificate. I’ll describe the signs in more detail below, but I started adding “Placed With Permission of Owner” on the top of the signs and this reduced my losses.

The end result of this effort is that perhaps I pay out $160 to $200 in referral fees, but I have to run my $50 to $150 worth of weekly newspaper ads many, many fewer weeks. It definitely pays off from a monetary standpoint. The other benefit is that I now have a list of folks near each property (whom I’ve never even met) who think I’m great. Every single person will call me back after receiving their gift to thank me and the large majority volunteer that I’m more than welcome to do this anytime I need.

What Do the Signs Look Like?

The signs I use are basically the standard bandit signs cut in half. A normal size bandit sign is 18″ x 24″ and I use 9″ x 12″ signs for my directional arrows. I have a red directional arrow that takes up about 5 inches of the sign, leaving the bottom 4 inches blank. Within the red arrow I ask the sign company to put my message which could be “Owner Finance” or “Lease Purchase” or whatever you prefer. The message is easy to read.

In the blank space I use a large marker to write the property address. It’s important to leave enough blank space below the arrow to write the address in large numbers and letters. Also, as I mentioned above, I include the “owner permission” tag line on top of the arrow. I buy 36″ wooden stakes from Home Depot and attach an arrow sign to each side of the stake so the information can be seen coming and going.

If you don’t have a source for these signs, please contact BanditSigns.com to get some. They’re inexpensive and well worth the cost.

I hope you’ll add this tool to your marketing techniques and discover the same success I’ve had in using it. You may find that you abandon many other advertising tools you’ve been using in the past.

5 Steps to Successful Real Estate Marketing

There are essentially 5 steps to being successful in real estate marketing. Before we go into the 5 steps of real estate marketing, I want to encourage you to become a student of marketing. The moment that you are able to find your own deals – on demand – the more money you will make! It’s a direct correlation.

When I started out in real estate, I didn’t understand how to “really” market for deals. I was depending upon real estate agents, local real estate investing groups, etc. I did a lot of deals, but I realized I wasn’t making the kind of money I knew I could in estate.
Follow these five steps to successful real estate marketing and you’ll be on your way to filling your own funnel full of five-figure deals.

  1. Define Your Target Market: You must be focused; If you run in too many directions, focusing on too many real estate markets, you’ll always be skipping around, never getting ahead. You need to learn overcome objections; you need to know how to handle the different situations that arise. Once you master one market, then you can duplicate your system across market after market. For instance, you may choose to start working with foreclosures or out of state owners. Once you get the real estate marketing system in place for one, add the other. Then, you can simply duplicate it over and over again! The single most important thing to remember is that you MUST target motivated sellers… PERIOD.
  2. Execute your plan: It has been said that successful real estate investors have three things: specialized knowledge, ability to take action, and consistency. It’s not enough to have the knowledge. You have to act on that knowledge. Let’s say your real estate marketing strategy involves bandit signs. You need to have a system for distributing signs on a consistent basis, a consistent method for filtering leads, and a bullet-proof follow up system. If you’re going to execute a direct mail campaign, make sure you have a system for sending out the whole series. For instance, our foreclosure direct mail system consists of 6 sequential postcards. It doesn’t do you any good to come off the starting block at 100mph if you don’t have the ability to sustain that pace or the have tools to fulfill the plan. If you only have the resources to send the first postcard, don’t bother wasting your money. Find another real estate marketing strategy.
  3. Pre-screen your leads: Scribbling notes on the back of an envelope while you’re driving is not a system! We actually send our leads to a separate voicemail line or a call center depending on the marketing campaign. Our students and staff have been trained to do this because it takes emotion out of the system. If I’m having a bad day or sitting in traffic, I can’t focus on that call from the motivated seller, so all of the calls are fed through the system. We request that the seller leave certain information on the line or with the operator. We then take that information and do our basic due diligence before we even have our first conversation with the seller to find out if, in fact, he/she is a motivated seller.
  4. Make your offer: By following a specific real estate marketing system, you’ll be prepared to make an initial offer during the first phone call. By asking the right questions and having a pre-screening sheet in front of you, you’ll quickly learn if they are a motivated seller or simply just wasting time! If your real estate marketing system has this component in place, you’ll know what the property is worth, have a ballpark idea of what the repair costs are, and will know if the seller is motivated. Consequently, you will know at what price you should make your first offer.
  5. Contract/Exit Strategy: Once the seller has accepted our verbal offer, or is close thereto, it’s time to put the purchase offer in writing. We include 3 contingencies – or escape clauses – into the contract. – Inspection – In the event of buyer’s default, the deposit is the sole remedy – Subject to property appraisal

Based on this due diligence, we are then able to decide which exit strategy is most appropriate. All of this follows a basic flow chart process. There’s no thinking! It’s like when you call in for technical support on your computer. They ask you a question, and based on your answer… they go to the next step. This is how you want to run the marketing division of your real estate business.

Keep in mind that your real estate marketing efforts should be in concert with the types of deals you’re looking to do. For instance, if you want to flip properties, your marketing system might target motivated sellers facing foreclosure. On another note, if you’re looking to build a rental portfolio, then you might consider building a real estate marketing plan to target landlords filing evictions.