Today, I got a great question, one that I think many new investors and Realtors® who invest often struggle with. What should you do with limited funding, and big dreams! Here is the question they presented to me.
“What’s up Karl, do you think mailing to a list of 200 potential leads is a waste of time and should I mail to more than 200 (small campaign)? $200 is what my budget allows right now.T.”
It’s a great question, and deserves a fair answer!
My reply was this…
“I think it’s a waste to mail. You would be better off spending 99/mo on Investor Carrot, and then running Craigslist ads to funnel leads every day to that site… id blog the f**k out of it and run that for two months straight.. every damn day id be workin on that. let that website and blog work that interwebs 24/7K.“
Ok, so let’s get into the meat of the answer of what I mean.
The Power of The Interwebs
Let’s just be honest. The Internet is about the niftiest thing since bacon met the egg. The power that the Internet possess is incredible. Doubt that? Ask Libya!
Needless to say, our Buyers and Sellers are unlikely to pull a “Arab Spring” while buying or selling their homes but they are willing to start looking for more information on the Internet. Now more than ever, soccer moms like my wife are scrolling through social media sites like Pinterest and Facebook.
To be able to harness the space on their phone, tablet, or desktop is valuable real estate indeed! Night and day, a tireless worker, the Internet is safely plugging away while the Motivated Seller or Buyer is looking for a professional like you to sell their home to!
I’ll be honest. I am a much better salesman than I am a computer programmer. When left to my own devices, I rarely can post more than a blog! So when it came time for me to consider adding a web presence to interact with the public in a powerful way, I chose Investor Carrot.
Direct Mail Woes
The challenge with direct mail is that it must be done in volume, and frequently. Unless you are prepared to repeatedly mail, again and again, then it’s not necessarily the highest return on your time.
While admittedly a 10+% response rate is impressive, it does not however tell the entire truth. A person responding to an ad is reacting to your advertising. The response is based on their place in the sales process.
What makes an Internet based lead that is reacting to either an ad placed in Craigslist that directs them to your converting site, or a blogpost that directs them, the result is the same. They oftentimes are early enough in the cycle that you are able to educate them as to the benefits.
Believe me… the poor have Internet.
60 Day Challenge!
So today, I will begin taking the advice I gave our listener, and report back to you the results of my progress. As I mentioned to him, I will take a two prong approach to getting leads fast, and for 2 months worth of Investor Carrot. ($200)
My first approach will be building Craigslist Ads to drive traffic to my site as well as using the blog feature to help with the ability to be found on certain searches.
My second approach is to share that content in certain forums and social media to add visibility.
I will report back to you at the end of March regarding how many leads, contracts, and transactions I did from Investor Carrot’s leads! Obviously, there must be a understanding that a lead is only as good as the salesman who has it, so we will see if my skills are up to the test!
As a side note, I am an affiliate of Investor Carrot… I believe in their product. I’ve got no intention of running any direct mail to give this as a control, but rather, I want to “take this baby for a spin” and let you see what happens!
But Wait…There’s More!
The cold hard reality is that if you want to get business quickly, you need to put in the work! In a subsequent conversation, I offered to him a complimentary copy of Sales Skills for Real Estate Investors. A free book that I wrote some time ago about the necessity to find “now, future, and maybe” business! Along with tips and techniques to help you in the task!
This book has helped countless investors save thousands of dollars and hundreds of hours of needless work. If you haven’t had a copy of it, please click here!
Have a Powerful Sales Day!