6 Common Marketing Mistakes Investors Make And How To Avoid Them
by Gerhard Cronje
Dear Friend,
What I would like to address in this article is something that is disturbing to
me. Over the past few years I have seen how many investors after a real estate
seminar or buying a new course would jump on the band wagon of the usual
marketing strategies we are all familiar with. You know, bandit signs,
classified ads and postcards too just name a few. Now, these marketing
strategies in themselves are not bad but it is sadly the method how these
marketing activities are applied where investors get into trouble.
Not Having a Marketing Strategy At All
Just placing bandit signs in neighborhoods and intersections without planning,
testing and reviewing the quality response rate from your signs is a sure recipe
for failure.
Not Identifying Strategies That Work and Sticking With Them
There are many ways to skin a cat. Some ways are better than others. It is the
lack of not knowing what works and not knowing what works well that leads many
astray and cost them a lot of money in the process.
Not Staying Within a Budget and Wasting Your Money
If you only have $10 or $100 per month or more that you can spend on marketing
then you need to stick to that amount and use strategies that fit into your
budget otherwise you might soon be distracted from your real estate investment
business by facing a cash crunch.
Having No Competitive Advantage Above Other Investors
I have a personal bias towards attorneys and using free publicity as my
competitive edge. What is yours? If you don't know, develop one.
Not Being Persistent
Sadly many quit with a huge database of leads they accumulated from haphazard
marketing efforts not realizing they have unrefined gold in their hands. All it
asks is some nourishment and follow up.
Following the Herd and Using the Same Marketing Strategies
Ask yourself, with all the same strategies used by fellow investors in your
market, why would a seller call you ? If you can't answer this then you need to
think of a different strategy like marketing to attorneys. When you market to
attorneys there is no competition and no negotiation. What I like about this
approach is that the attorneys may times would send pre-qualified leads your way
which makes negotiations much less stressful and complicated.
Bio
Gerhard Cronje has been a real estate investor for 6 years. He used to work in
the medical field as a physical therapist but because of “burn-out” turned to
real estate. He now resides in Daytona Beach, Florida and his specialty is lease
options and marketing - finding unique and creative ways to locate deals before
his competition is his niche.