For long term prosperity in any business marketing is arguably the most important factor whether or not your business thrives and survives. No words could be more accurate when marketing for real estate investment. Marketing is a continual learning process. It is not something you can do once and have it take care of itself. The marketing and business environment is constantly changing and evolving. To stay on top of your competition you will need to learn and become a master when it comes to marketing for real estate.
Certainly, the ins and outs of marketing cannot be covered with a single article. With the varied number of methods and applications it could easily be the sole topic for all my articles. I do plan to touch on specific content with each marketing article produced. For starters, there is much more to marketing than simply getting your message out there for everyone to see. And the internet and social media have changed the marketing game from traditional methods in a huge way!
Traditionally the most common methods of marketing include television, radio, news print, magazines, posters and word of mouth. These are still used today, what it comes down to is what’s best for your business; traditional marketing or digital marketing? The new era of marketing can be very powerful allowing you to target a large audience, a specific group of people, interact with your audience and can be monitored for effectiveness in ways that were not possible with traditional marketing. And at lower cost per campaign. Social networking, video advertising, content articles and websites have given businesses a powerful reach, enabled audience engagement and is more budget friendly.
In order to create and effective campaign and put your message out to an audience there are some things you will need to educate yourself with when considering marketing for real estate investment. To be able to find deals below market value there are a few basics to understand:
1. What motivates your ideal seller?
- A job transfer?
- An outgrown house?
- A divorce?
- A bankruptcy?
- And many more situations that could be reasons for selling
2. What types of properties are you looking for?
- Generally, when marketing for real estate investing you will be looking to create value in a property. This means finding properties in need of work. Rehabbing an entire property is costly and risky, especially if you are inexperienced. A property that is structurally sound but needs cosmetic work is ideal, but also the hardest to find. It will take consistent effort and staying on top of your marketing strategies to find the best properties.
3. What do your potential customers need and how do you reach them?
- Understanding what your customer needs rather than just what you want is key. You must be able to determine this to be able to bring them any value so they will be motivated to deal with you.
- Do they need to be relieved of debt?
- Do they need money quick?
- Do they need someone that will work with their concerns?
Again, the needs of an individual have a wide range of possibilities, but you must identify what they are.
Once you determine what their needs are you can decide how to structure your message and how to put it in front of them. Will you broadcast it with traditional methods and put it in front of everyone? Or will you do direct marketing and aim your campaign towards a particular group. These are two different methods but both can be effective. Learning how to create your message and put it out in front of them is a learning process as well.
I am particularly fond of social media. To build a business audience it can be a slower process than broadcasting to massive audiences with traditional methods. But I enjoy the interaction, the creation and the building of relationships which will sustain my business and inspire me to keep learning. I am passionate about learning marketing. And having made changes to my business goals and the direction I want to take my business; it is a must.
Have you ever thought to yourself “I’d really like to do something different, something new . . . But . . . who am I kidding? I don’t know how to do anything else!” Or, “I wish I could start working online and make an income that way instead of wearing myself out every day with what I’m always doing! But that stuff is for techies and people who know digital stuff.” . . .
I feel for you, I really do. That used to be me. I came to the realization that what we tell ourselves generally becomes our lives. So I stopped that! Because I was not satisfied and I know my abilities are far beyond what I had reached. Those Techies had to start their learning somewhere. And it is so much easier today than it was 10 years ago for you to begin to learn the basics and become effective with your own online business. The possibilities are truly unlimited! There are so many powerful tools and great programs that can be used to learn how to make money online. I have joined one of the most powerful and effective ones. It is a solid way to build a business, it will carry you far into the future and it will give you unlimited chances to expand and grow your very own business.
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