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My opinion is online marketing should be judged according to how many deals an investor actually signs up. That holds true to ANY marketing. My experience is over the years is that online marketing of all types aren’t worth it. You gotta get toe to toe, face to face with sellers. This is a people business. I had a business partner last year (who I since fired) who was a total techy. He fought so damn hard to convince me that online marketing, SEO and all that other crap was the ticket…the wave of the future. Guess how many leads he brought to the table? 1 deal in 3 years! Now, he had other marketing which generated way more leads and deals, but he was SOO convinced online marketing was the ticket. IT SUCKS! Don’t bother wasting time. Create simple to understand and direct questions for sellers, then craft your deal around their problems, then get in front of them and sign the deals up. Sometimes I think the old timers from years ago had it all perfect. Back before internet and all that. They had to slug it out infront of sellers and they did. Internet people always want to tout how amazing the web is. Hard fact is the deals you sign from internet are few. Internet is for the lazy and peole who don’t want to sign deals.
Exactly. And sorry to say, the same could be said about direct mail letters, yellow letters. For example, how much junk mail does the average person get a week? Too much! Who cares how crafty you try to be to get them to open the letter. People will still perceive it as junk and heave it into the trash. Not saying it doesn’t work. But I don’t think its the best either. Big waste of marketing dollars. I care about my money, and it makes me sick to see the post office get rich off my yellow letters. But to each his/her own. This doesn’t mean that I don’t throw together the odd direct mail marketing campaign throughout the year. Doesn’t mean I don’t have web presence. It just means as an investor my personal comfort is to get high amounts of leads and deals and the turnover for those other marketing methods doesn’t cut it in my business. Heck, I have t-shirts with my info on it and wear it most places I go and I get better results from that than yellow letters or online! Imagine you have a house to sell and I’m standing in line and you see my ‘we buy houses’ message. I currently have about 150 people wearing such shirts and I offer them the reward money if I get calls. I have them set up with their own emails (which they are blind carbon copied. So say for example Jessica is interested in making money with me. She’s in college, and doesn’t have time to work another job. All she has to do is walk around everywhere with a shirt that says ‘we buy houses etc’ email@example.com. Now, when someone emails that address, I already have that email coming to me with jessica CCd. That way she can see the leads she has generated. Anyone can do this, and its effective.
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Personally I see the positive results of yellow letters and have friends who like bandit signs… Some have been fined some havent and the fine is just a cost of advertising.
As for online marketing I imagine done correctly it could produce… Marketing has a way of doing that. I just hate that I am sending my prospect to the internet… However I personally am thinking of hiring a blogger using www.Odesk.com. Cant beat 2.22 cents a hour. Hard to be everywhere and have a social network presence.