This month we are asked to write about our marketing strategies and share what has worked and what has bombed.
I have tried just about every flavor of marketing.
A few that I have tried which I won't do again are following.
Mailings to renters. I spent lots of money mailing postcards to renters every month to try and encourage them to call and see what they could qualify for in hopes of buying a new home and exiting the rental market.
This was a huge BUST!
I also spent lots and lots of money purchasing marketing leads in specific zip codes. My name and number would pop up when someone searched homes in a specific zip code one out of 5 times. Leads would also be emailed to me so I could be the first to respond.
This required lots and lots of effort on my part. I really had to kiss a bunch of frogs to find any princes. Yes, I did close a few deals off of this, but I really don't think it was worth the time and money.
Another not so effective marketing campaign was mailings to FSBO's. I designed a piece to go out to FSBO's in hopes of converting them to listings. Never once did I get a response from this campaign.
A marketing campaign that has worked well for me over the past few years is a direct mailing postcard which is sent to my sphere each month. The postcards offer special deals which are geographic for establishments in town. Some offer a free meal when you buy one, or free admission to an event. These are super simple to implement with the company I use and are automatically sent out.
This Spring, I am planning on offering some First Time Home Buyer Seminars with my preferred lender emphasizing a unique program they offer which they have labeled HomeFundMe. It is an approved loan whereby the borrowers can receive gift funds for down payment via a Fund Me page on their Facebook page.
We are also scheduling booths at upcoming bridal shows to feature this product. That way if a couple about to be married decides they would love a house rather than a toaster as a wedding gift, they can encourage people to contribute to their downpayment fund which can now be used in their mortgage. This is a Fannie Mae approved program.
I hope you have found my thoughts on marketing useful. You just never know how something is going to work until you try!