beginner's strategy

[mamasanta25 0]

I am ready to get out there and get KNOWN in my community as a real estate problem solver. I am considering paying $90.00 to print up 3000 colored fliers to get out this weekend. Has anyone tried this yet, and if so, have you had any success? On top of that, I will continue making calls and print up 100 business cards to start. I bought the homemade kind for $5.00. I will see how fast I get rid of them. It only costs 33.00 for 1000, so I won't mind paying that when necessary. But, like Michael says, I don't want to go broke marketing myself. Once I get that first deal, I can put more into it. Any suggestions? I need leads, I am not getting too many numbers to call. 15 last week, 10 today. NOT GOOD!! I am ready to gain some experience, I just need a motivated seller.

[mamasanta25 0]

Put another way, would you spend the money on a newspaper ad first, or fliers?

[Summer 0]

You'll probably get a 50/50 response on which to do first and why but here are my thoughts and what I will be doing...

 

First of all, my papers are flooded with the type ads we would want to run doing L/Ps, so I don't want to get lost in the mix. Also, newspaper ads can get pricey and unless you're going to run for a few months consistently, it probably won't bring in an adequate response.

 

Secondly, no one is posting flyers for L/Ps or Rent-to-Own in the areas I'm interested in. So, I think my flyers will stand out and get attention. As I mentioned in an earlier post on flyers there are so many community bulletin boards in my area that are utilized and read. I really want to take advantage of this advertising medium.

 

So, I am going to do flyers, biz cards and personal networking to get my name out there in the beginning.

 

Summer

[moneynfast 0]

Mamasanta25 where did you find a copy place to print 3000 copies for 90 dollars? So far the cheapest I found was copy max. They are 120.00 for three thousand. Also how will you pass out all those flyers? Will you hire some kids, and if so how much will you pay them I am curious because I have no ideal how much to pay someone to pass out flyers.

 

MichaelR

[mamasanta25 0]

Thank you for your input Summer. Michael R., I found that price at Econoprint, and another local print shop. I wouldn't go to office max, or office depot. Yes, I will hire my cousins to pass the fliers out. They are teenagers, so they will do it for quick cash. I will ONLY pay them if a deal comes about from it, because I don't have cash to pay them otherwise. But, they won't mind doing it because they are family, and want to help me out. Even if they weren't family, they may do it, because I will pay them $150-200 depending on the deal I get. Again, they don't get money if there is no money made. I hope I have been helpful.

Samantha

[mamasanta25 0]

Oh, and regarding the newspaper ad, here there are NO ads running looking for a home to lease in a nice area, etc. But, I was thinking about the cost, that's all. It's like 50 bucks for one or two weeks. I think only one, actually. They put it in the pennysaver also, but that could get expensive if run consistently.

[Mr Saint 0]

I'm in the same boat as y'all (said with a Yankee accent ) I too am trying to figure out what is the best method to start out with with.

 

In my area there are a ton of ads in the paper from other investors and an equal amount of bandit signs around town. The thing I haven't noticed a lot are flyers and direct mailings; so that's where I'm going first.

 

However, I'm not going to disregard the ads and bandit signs just because there are a lot out there. The way I see it, I needn't re-invent the wheel, if the bandit signs and ads are there week after week, month after month, something must be going right for them! I'll just ride the wave of success!

 

Just a thought,

 

Mr Saint

[moneynfast 0]

Thanks Samantha for the respond. Don't think we have a print shop by that name but I will keep searching for one.

 

MichaelR

[MichaelC 160]

One quick thought on this.............if you're working within a budget why not opt for a black and white flyer, rather than color? It's a heck of a lot less expensive and just as effective, in my experience.

Also, Mr. Saint makes a good point. If you are consistently seeing the same ads and the same bandit signs, this tells me they are working for the persons placing those ads and signs. Rather than be discouraged that there is too much competition out there, I am heartened by the fact the community is open to creative wheeling and dealing. If deals weren't getting done, those signs and ads would fade within the month.

[mamasanta25 0]

Michael,

The colored and black and white fliers cost the same at this particular place, so I thought, may as well get color then.

[MichaelC 160]

Yes, I agree. I'm surprised that color and black and white would cost the same. But, if they do, take advantage and go for the color flyers.

[mamasanta25 0]

What works better, fliers, or a newspaper ad?

[MichaelC 160]

Neither one can lay claim to being "the best marketing method". Marketing is best approached with diversity, Samantha. Some of this, some of that. Try a variety of methods and, after giving each technique time, review the results to see what gives you the best return for your marketing dollars.

Marketing, like most things in life, is best understood with experience. What works best for an individual in their area, may not produce the same results for you in your area.

[mark 0]

Here's what I do.

I place an ad 3-4 lines in the paper for 1 week $34.00 then track the responce. 3 calls=$11.33 per responce, then I start testing my ad by first changing the head line then the details of the ad. each test i run for 1 week and keep track of the responce of each ad when you get an ad set up that is giving you a responce that you are pleased with, stick with it.

Now i increase the size of the ad from a script ad to a 1/2 inch display if that works well i move it up to a 1',as long as my responce is pleasing for the cost of the ad. Also when i have an ad thats working I run it in different sections of the paper comparing it to my ad in other locations. And last but not least I negotiate a deal with the paper,when they have un sold space in there paper they sell it to me for 20 cent on the dollar better for them to get something then nothing and i get a cheap ad and a new place to test. Always test your ads in print, bandit signs, flyers any type of forum you choose to use.

PS. I have found that flyers only work for me (and very well.) when im selling not buying.

Hope you get something from this.

[TPSG, LLC 3]

Okay,

 

I'll put in my two cents...

 

Don't sound cheap.

 

Again, as I have said before, whatever your strategy, make sure it is different than the next guys (or gals) because your customer will not differentiate between the two. Now, Mark has a really good idea because it works like this: You look through the paper and find someone running ads like yours, then all you do is in the same section, same page, write a cleaner BIGGER Ad, and because of the human mind, your customers will float towards looking at yours. Which kinda goes under the "bigger is better" category, which is not always true but in this case it is.

 

I do remember talking to someone about these type of ideas and what not and we discovered that what really matters is your coverage and how well your area knows your company or you. Just put a good message, make it clean and easy to understand, make it stand out without looking cheesy and then blast it across your area. What will happen is that through either business cards or flyers or bandit signs, people will start to see your name more than someone else's...and what happens next....BINGO...people are calling you versus your competitor.

 

But the key and the key will always be...consistency and coherency...delivered always in the same visual, same font, same colors, as the time before, etc

 

Okay, so it was five cents...