Unfortunately, many investors fall victim to bad marketing strategies. The most important thing an investor can do when it comes to marketing is to figure out which marketing strategy will receive the most impressions from potential buyers. Here are some things to consider when developing your marketing strategy:
Use Both Online and Offline Marketing
Research shows that 92% of investors fail within the first 3 months simply because they do not have a good marketing strategy. In order to reach as many people as possible, you want to use both traditional and online marketing, which may require you to have two separate strategies: one for online and one for offline. In order to achieve the most success in your marketing you should use a combination of both of these strategies.
Know Your Target Market
Who are you trying to sell to? What types of marketing will you need to use to help you reach them? These are two questions that you need to ask yourself before deciding which marketing outlets to use. Younger audiences may be more easily reached through online mediums while older audiences may be more influenced by more traditional forms of marketing such as direct mail or newspaper ads.
You Are Your Best Marketing Tool
This is perhaps the cheapest and easiest form of marketing for investors. Understanding your personal brand is one of the key starting points for developing your marketing strategy and will help you build relationships with the people around you. When communicating with other real estate investors, make sure you are honest and know what you are talking about. Honesty and professionalism go a long way when it comes to interacting with both potential clients and other investors.
Networking is Key
Even something as simple as day-to-day interactions should be a part of your networking strategy. Networking is one of those things that all successful investors do whether it’s with their friends or with other professionals. There are local real estate investing clubs all throughout the country that are great places to start your networking. The key here is being able to market yourself. Incorporating networking into your marketing strategy will help you to grow your clientele and will help establish your reputation within the real estate investor market.
Always Use Lead Generation Websites
Regardless of who your target market is, lead generation websites are great marketing outlets to reach all types of people. Lead generation websites help promote your business activities and gain the interest of potential clients. Research shows that it only takes a few seconds for people to decide whether to leave or stay on your website, which is why it is important to catch their attention fast. The home page (a.k.a. landing page) of the website needs to be short and sweet and clearly identify the benefits of doing business with you.
So the Conclusion is…
Marketing strategies will be different for every investor and will depend on whom it is that you are trying to reach. Developing the right marketing strategy is the foundation that will lead to success for real estate investors.