I am thinking about testing these two very soon. Curious if anyone has had any experience with either medium.
I have not tried it yet, looking into it in about a month but I think i might try spotrunner.com for service. Let me know how your campaign goes.
That’s alot of money for a hit and miss marketing campaign…
If you have that kind a dough lying around, why not hire someone to go to the courthouse and search for homeowners that have 2/28s and 3/27s that are due to adjust.
It is this demographic that will be “target rich” of both short sale and pre-foreclosure buyout opps…one of the most critical factors in all marketing campaigns is targeting your message to the right audience (this is to mean people that are most likely going to be interested in your message)…
Targeted Marketing Campaigns are always the way to go… Happy Investing…
I have a mobile LED sign in my back window. It came from www.mobileled.com. Last time I looked it was $200. I use to advertise both my rei business and my electricity marketing business. I was stuck in Dallas traffic a couple of weeks ago and got a call from the guy behind me.
I’m not sure why you think it’s hit and miss. Surely you’ve seen TV commercials. Do you think they are all “targeted?” Of course not. It’s the nature of mass media. Ever run an ad in the newspaper? It’s no more “targeted” than TV. You know going into it that 99% of the people you’re reaching don’t care, but because you’re in front of so many people, it can still work.
As for newer loans about to adjust, that is not my market.
In my cable TV test (and that’s another thing…testing is just part of marketing…some things will work, and some things will not…you know and accept this going into it), I’ve identfied a county in which I’ve previously had really good deals. The demographcs are right for a mass approach. My test will cost only $1,000 per month for three months, and of the 22,000 households in that cable market, my ad is forecast to have been seen by 73% of the households at least three times over the three month period.
This test covers a small market because my first test is about the medium itself. If I get any response whatsoever, then I will roll it out for a larger test covering additional markets (totaling about 100,000 households at a cost of $3,000 per month).
As for mobile billboards, the deal I am being offered sounds too cheap to pass up, but I am going to continue to research the cost. The local admobile franchisee is offering a three month test in a desirable region that will include a lighted 8’ x 12’ rotating billboard (three ads that rotate) for only $1,000 per month (50% off the supposed standard rate). The truck rolls Tuesday through Saturday from 10AM to 8PM, and based on DOT counts should be in front of 80K to 100K cars each day. And because it travels the same route each day, and because it drives slowly enough where people have to pass it, you’re going to get multiple impressions over that three-month period from many people.
@Dwaine: I looked at SpotRunner, too. I still am, actually. They are offering me ads at a much lower cost per spot than Comcast ($7 vs. $12), but the dayparts (times when the ad runs) are not as desirable. I called SpotRunner to see if they could tell me how many impressions I’d be getting and what my reach and frequency would be, and they said that this data was not available because it’s cable TV. Well, that’s nonsense. Comcast has the data, as well they should because it’s their cable system. I would not advertise anywhere without getting a better idea as to how many people are going to see the ad so that you can figure out the cost per thousand impressions. And you have to figure…SpotRunner is simply reselling the same media that you can buy direct from the source, so why not just go direct?
@Richard: Interesting! I will look into the LED sign, too. It does give a little support to the concept of the mobile billboard.
Let me try to impress upon you in a different way (and spare you of “testing” your idea on a untargeted audience).
Here is just one of many universal truths of marketing (and I have spent alot of money to learn this on my own):
A lousy marketing campaign aimed at a targeted audience will always outperform a great marketing campaign aimed at a unspecified audience.
This isn’t me talking, but the lessons learned from those that spend more in a month then you and I can afford to spend in a lifetime.
Your marketing message, the timing in which it is received and the audience you put in front of are the areas you need to test, not the mediums in which to deliver your message.
You seem inclined to test your message on a variety of mediums, and I wish you all the best, but I fear the only thing you will be testing is your bank account.
You threw me for a curve when you said, “adjusting mortgages are not your market”…By your very presence on this forum, I assume that you invest in real estate.
The greatest source of future real estate deals will come from those homeowners that find themselves in a home that they can no longer afford…if you are interested in this market, then finding homeowners that are going to be “adjusted” out of their comfort zone is an audience that would be receptive to the relief offered by a real estate investor (that’s targeted marketing in a nutshell).
I wish you all the best in whatever you decide to pursue and keep us posted on your results.
I am in TV advertising so I can answer some of those questions. The only thing spotrunner can do cheaply is produce the spot. Other than that, you can get your commercials just as cheap by going directly to the company. Tell them you’re thinking of using spotrunner…and they’ll do their best to give you a great deal.
My choice would be to go to a local production house to do the spot, and buy the commercials directly.
Thank you. This is pretty much how it played out: going direct to Comcast for the media, going to a local production shop for the spot. The spot will cost $600, which is not bad considering that SpotRunner wants like $500 for a canned spot with my details plugged in.
Understanding that you don’t know anything about my commercial or market, what do you think of the medium for a “we buy houses” type campaign?