Ad Results Stink!

[Caveman 0]

I ran a month long ad starting last Friday to RTO a house I have on a CA. “Rent-To-Own”, “easy qualify”, and “100% Rent Credits” are the key phrases in the ad that I thought would pull in some calls. Well, after 7 full days in THE major news paper I’ve had a total of 2 calls… both from… get this… investors.

 

I already knew the paper didn’t work that well from previous attempts, but I thought I would try again since its spring and people are in the house buying mode, and because I’m the ONLY one offering 100% rent credits….Geez!

 

On the bright side I think this is the same reason I’ve had very good luck finding motivated sellers from the same paper. These sellers aren’t having any luck either!

 

I just put out 25 signs this morning. That will generate 8 or 10 calls today alone. If they stay out without getting knocked over or pulled up this weekend, I should have 20-30 calls by Monday…. and just maybe find a new t/b. Moral of the story… add signs to your advertising campaingn if you haven’t already.

[Doug Pretorius (ON) 9]

Do you have a website to showcase your homes? If not, get one ASAP! I have hundreds of people who regularly check my website for RTOs, that's how I got a buyer for my CA in 9 days, it was a buyer who had known about my site for almost a year.

[Kimberly 0]

I ran a month long ad

I already knew the paper didn’t work that well from previous attempts

Caveman,

 

Huh? Caveman logic? In the future maybe a one weekend trial or one week trial. Your ad is in what section of the classifieds...'For Rent,' 'Rent to Own,' 'For Sale,' 'Lease Purchase' or something else? Here, my best bet would either the 'Lease Purchase' section or the 'For Sale -- specific area / school' (never the 'For Sale -- general area').

 

You might want to consider contacting the paper early today* and see if they will move the ad to another section of the classifieds. It could just be the section of the paper the ad is running in.

 

What's the entire ad say? The paper may be willing to alter the ad as long as it stays with the same number of lines.

 

My advertising strategy is usually along the lines of SIGNS, SIGNS, and more SIGNS! Get those signs out there!

 

*Friday is usually the busiest day for the classified department, with the afternoon being worse than the morning. So call early.

[MichaelC 160]

Caveman, I've often said that marketing is trial and error. What works for someone else, in their location, may be a total bust for another in their hometown.

With the experience you've gained you now know that newspaper advertising isn't the best bang for your buck. Keep this in your memory bank for the next time.

Other techniques work better. Signs, you say. So, file this away also for future reference. Simply, use what works.

[Caveman 0]

Thanks Michael. Hopefully my tone wasn't taken in the wrong way. I was really trying to say you put most eloquently.

[Adam King (MI) 1]

Caveman,

I agree with MC, it's a learning experience that is personal to yourself and your market. I also think that your ad may have sounded a little too desperate. Desperate ads NEVER EVER WORK!!

I would put "Nice homes rent to own" and see how that works. Simple yet effective.

Hope that helps,

Adam

PS I put an ad in Lansing for a week "Nice homes, rent to own" and it pulled over 100 calls. Buyer's market!

[Brian - L.V. 0]

I also think that your ad may have sounded a little too desperate. Desperate ads NEVER EVER WORK!!

I would put "Nice homes rent to own" and see how that works. Simple yet effective.

 

I think I understand what you're saying. If you sound desperate in an ad, people will probably think there's something wrong with the house or something like that. What about online advertising where a picture is included? I've been using things like, "build equity while you rent, low down, no bank qual", but haven't been getting a lot of serious prospects lately. It seems like people that are looking at online sites (owners.com, infotube.net, and others) aren't looking for a RTO.

 

I've done some generic bandit signs lately, but it's mainly attracting people that want to spend $1000-$1300/month (which is lower than average since the average resale price in Vegas is currently about $250k) with maybe 1% down.

[Caveman 0]

Adam - Thanks for the reply. Your approach sounds appealing. I think I'll try it and see what happens. Thanks!

[BEV! 0]

I ran a month long ad starting last Friday to RTO a house I have on a CA.  “Rent-To-Own”, “easy qualify”, and “100% Rent Credits” are the key phrases in the ad that I thought would pull in some calls.  Well, after 7 full days in THE major news paper I’ve had a total of 2 calls… both from… get this… investors.

 

In my experience, newspapers is a waste of time and money, my ads pull well online but most of my TB's are now coming from referrals.

 

I also use the same wording you use on your ads and even add the phrase

WILL WORK WITH BAD CREDIT!

And I do very well all the time with my ads using these phrases... I always make it a habit of asking every caller as to what attracted them to my ad and what made them call? ...here are the most popular replies I get.

 

- The pictures of the house

- The "Will Work With Bad Credit"

- The "NO Banks Involved To Move In"

- The "NO Agents Nor Property Managements Involved"

 

That's why I always use those phrases in all my ads

[Cliff 0]

Marketing is trial and error ... no truer words spoken ..... MY marketing learning experience works like this: I go at it from a different angle ... for example I have a RTO home now that I’m marketing –

 

STEP 1 - I sent out 25 - 5x8 post cards to folks that live next door or in the same general area as the RTO home I print Both sides of the cards the front with my information Name / Phone / Fax / Email etc then I print a large yellow sign with red text on it that says Rent to Own it looks just like my yard sign ... On the back it all verbiage ---> Do you know that almost every person would like to have a Son - Daughter - Sister - Brother - Aunt - Uncle – Relative or close Friend live in the same neighborhood as them ? Finding a home for them to live in as good of condition as yours is almost imposable! We think we have found just that property and in the very same area as you ! ( insert address here). This home qualifies for our Rent to Own Program . Our program makes it possible to move in with a small down payment. Please drive by then call ( insert phone # here) for more information……………..

 

STEP 2 Then I sent out 25 - 5x8 post cards to business in the same general area as the RTO home …. The front of the card looks the same as the ones before ….. the back changes to this à Do you know that almost every Business Owner / Manager would like to have its employees live close to the business? In fact it’s preferred that its best if the employees are with in walking distance! We think we have found just that Home and in the very same area as you ! ( insert address here). This home qualifies for our Rent to Own Program . Our program makes it possible to move in with a small down payment . Please share this with your Employees, then call ( insert phone # here) for more information.

 

STEP 3 Then I sent out 25 - 5x8 post cards to Beauty Salons – Beauty Schools – Barbers- Nail Salons- Tanning Centers - I print Both sides of the cards the front with my information Name / Phone / Fax / Email etc then instead of the yellow sign I print a Clip art of paper money on the front --- the back changes to this àDo you have a Son - Daughter - Sister - Brother - Aunt - Uncle – Relative - Close Friend or Customer that would like a home of their own ? Maybe they have a bump or a hiccup on their credit report and a Home loan seems out of reach? We have a Home that qualifies for our Rent to Own Program ( insert address here) . Our program makes it possible to move in with a small down payment. Please share this with them, or call ( insert phone # here) for more information.

 

Cost $38 for 75

 

5x8 Blank Cards [Wal-mart] 1.99 pk of 100

 

Mailing Labels [Wal-mart] 4.99 pk of 300

 

Ink [ www. inkkeepers.com ] 1.50 per cartg.

 

Stamps [uSPS] 37.00 per 100

 

On average every 75 card mailing, returns me 25 new applications and endless phone calls