Welcome to Episode 14 of Real Estate Mastery - How To Create A Lifestyle That Doesn’t Require Your Presence! Today, I wanted to talk about what I would term “marketing audibles.”
A Little Backstory…
Here is a little insight into the current situation my business is in. Last year was the best year my company has had in its 20 year history. About half of my business came from PPC while the other half came from a mixture of other marketing efforts. Now, in July of 2019, after the first 6 months of the year, doing exactly what we did last year, our numbers are way down. We are still bringing in leads, but our conversion rate just isn’t there. Last year, we had higher quality leads. We were making more offers and closing more deals.
Why It’s Happening
More competition. There are simply more buyers out there. More people who want to get involved in real estate investment. There are more wholesalers out there as it is an easy entry point for someone to break into the real estate business. People can say that they buy houses, when in fact they don’t They simply have buyers at their disposal, no real ability to buy houses on their own. However, home sellers don’t always care. They are just looking for someone to solve their problem.
What We’re Doing About It
Now is the time to drill down as to who my customer really is. Who can I best help and how can I talk to them? Are there other marketing channels I could be using to better reach the people I want to work with?
I’ve realized that all of these buyers, new agents, and wholesalers, are all playing in the same red ocean, fighting for scraps. Everyone is doing the same PPC and fighting for the same business. In the current market, it can be relatively easy to buy a house or gain control of one, then quickly resell it for a profit. People tend to do similar marketing. Direct mail, PPC ads, are bombarding potential home sellers, making all the buyers seem the same.
Rather than continuing to spin my wheels, I am looking for blue waters, where I am able to talk to my ideal client with less competition.
Questions I Am Asking Myself:
- How can I set myself apart from all the other home buyers out there?
- What are their characteristics?
- How long have they owned their homes?
- Who do I want to work with?
- How can I make sure my ideal client can easily find me?
Sure, my company can buy from every seller, but just like in any business, you want to focus on your ideal client. Don’t waste time and money marketing to everyone.
A Few Ideas
We have decided to ramp up our content, providing more information to those we can best help. While I am not one for the spotlight, doing more videos and podcasts such as this one, help to get our name and message out there. Our goal is to be the person who pops up over and over again when someone needs our help. We want to help our clients learn about who we are and what we can do. People need to see who they are doing business with, and they have to like them! People aren’t very likely to do business with people who they do not like!
By providing content and information relevant to your client’s situation, you will more likely gain their trust, and ultimately their business. Your content doesn’t have to be perfect, but you need to start somewhere. By being consistent, people will be able to get to know you and the services you can offer.
If you are an agent or if you want to be an agent, let me know if you like what you’ve heard and let me know if there are other topics you want to hear about. I want to be a resource to help as many people as possible!
Get more info on how you can be involved with us and what we are doing!