Hey there, it’s the Andrew, The Maestro, Massaro back again with another awesome house-flipping lesson.
Killing your marketing momentum and literally stopping your business dead in its tracks, would suck, right? So today I’m giving you the 411 on the Marketing Kiss of Death and how to avoid it.
If you’ve tuned in before you know I’m a deal maker. In fact, you should check out my previous awesome lessons and this great training call.
I run a high-volume, high-profit wholesaling operation in Florida. Over the years I’ve learned what to do and more importantly, what not to do when it comes to marketing and building a business brand. I learned, in large part, by walking the path of others before me.
I’m here today to tell you that you can avoid the stroll down “Learn the Hard Way Street” just by following these few simple marketing rules that I’m about to share with you.
Sometimes Less Is Less & More Is More
So let’s first answer the obvious question... What is the Marketing Kiss of Death?
It’s infrequency in your marketing, period.
And here’s what I mean by that. Let me set the stage for a typical solopreneur mistake:
You bust out of the gate strong, fiercely attacking your marketing efforts and killing it! The leads start coming in, you get a few contracts underway, you see potential dollar signs. In short, you’re rockin’ and rollin’.
Then that inevitable, fatal mistake happens. You get complacent. You stop marketing.
Sound familiar?
Now you’ve got to rev up your marketing efforts again from scratch.
You’ve got to rebuild that momentum from the ground up, and you’ve got to reintroduce your brand all over again. This takes time, energy, and moolah you probably don't have, because you already spent it on your advertising and marketing budget the first time around. Ugh!
So what’s the key?
It’s all about Frequency
Frequency is the number of times your ad is seen (or heard). Studies have shown that a seller, or any other consumer for that matter, must see your ad a minimum of 3 times before they pick up the phone.
Translation? You must continue to advertise weekly, monthly, consistently, always...
Take direct mail, for example. Most people, 80% in fact, won’t respond to your mailer until they’ve seen it 5 times. So what does that tell you? You’ve got to get in their faces and stay in their faces – repeatedly – for sellers to make a move.
Make your marketing a revolving door each month. Remember, the marketing machine can NEVER be turned off.
So what do you know? You know that the marketing machine switch must always remain in the "on" position, and here's how you apply this principle to a marketing tool like bandit signs. I know, I know, putting up bandit signs sucks, but you know I'm a big fan of crushing it with bandit signs, because they work!
Always place your signs in high traffic areas and places where people linger. Always display them on a Thursday or Friday, so they'll (hopefully) remain visible through the weekend and avoid Code Enforcement.
Location and day of the week will determine the life and death of your signs, so make sure you follow those 2 simple rules.
Slow and Steady Wins the Race
Let's take a knee for just a minute to think about marketing frequency in terms of water...
I challenge you to create a river, not an ocean. (Stay with me...) Picture yourself on the beach. The tide comes in and leaves leads all around you. Then the tide goes back out, and you're left with no leads at all. You're just sitting in the sand without water, sans leads. The ocean creates an ebb and flow pattern that can leave you with nothing.
What you really want is a steady, ever-flowing river that will continuously provide leads for you over time without fail.
Bringing it on Home
Bottom line is you've got to be disciplined about your marketing. Just because you've got some money coming in or a few deals on the table doesn't mean you press pause.
you start to feel like maybe you can back off, hear my voice telling you to "snap out of it!" Get your butt back on the marketing train, and keep your marketing efforts in constant rotation.
Limited time or lack of know-how is NOT an excuse! If you don't have the time or knowledge to do it yourself, hire someone or find a mentor! Keep marketing no matter what.
Holla at us
Do you have a marketing tip to help keep the ball rolling? We’d love to hear from you in the comments section below.
Understand that marketing should be a regular constant in your REI business.
Continue marketing as much as possible to keep the frequency of your ads up.
Realize that with marketing, more is more.
Don’t stop marketing even if the leads are pouring in.
Andrew Massaro
, also known as "The Maestro", is the founder of Wholesale Coaching, Inc. and is one of the most sought-after wholesale and REO coaches in the U.S. A University of Florida graduate, Andrewís house flipping career started in 2005, during one of the most dramatic and awe-inspiring real estate booms in recent memory.
After many years of success flipping houses in Tampa Bay, Andrew began also pursuing his passion and purpose: hands on, one-on-one coaching and mentoring other investors. Through Wholesale Coaching, students interact with and are coached by Andrew, personally. He has the unique ability to teach and guide his fellow investors to the results they desire. The one-on-one interaction and partnership is the key and what really sets him apart from others who offer coaching.
Andrew is also a loving husband, father to a beautiful little girl, Charlie Lynn, and an active board member of Current of Tampa Bay, a non-profit focusing on humanitarian efforts and showing love to underprivileged individuals.