Scaling Your Real Estate Marketing
If your business is doing well and you're busier than ever, then it may be time to scale your marketing to the next level. But scaling doesn't mean multiplying your efforts, thus keeping you running on the hamster wheel. It means sitting down and figuring out how you can streamline your systems so you can have more growth without going crazy. This is what Michael Gerber calls 'working ON the business instead of IN the business' in his book, The E-Myth.
All those tasks you performed can also be automated or performed by a VA. Before you get to that point, you'll need to go through each aspect of your business to see what areas can be improved and how. Grab your notebook and let's get started!
Hone In on Your Marketing Message
If you've been putting your message out there to sellers, you may have started to see a pattern of people who respond favorably. Take a look at the sellers that led to closings and see what commonalities they have that you can further attract. What was your winning message and how can you make it better and promote it more heavily to your key audience?
We always recommend testing everything, but not all at once. Test one aspect of your ad, then test your landing page. Do a simple headline tweak and see what happens. Maybe a different picture could stop the scroll. There are plenty of ways to test your marketing, but you must be patient as you compare your previous results with your lastest results. You also must be consistently improving your skills. This can be applied to any aspect of your life.
Automate When You Can
As you close more deals, your marketing budget will allow you to use tools that can help automate your business. Take time to write out all the steps you take from getting the lead to closing the deal. Then look for tools you can use to eliminate those tasks from your plate. For example:
- Implement a social media posting service to make sure posts get out on time with little effort on your part.
- Use a mailing service to replace manually writing letters.
- A service like Callfire will allow you to leave pre-recorded voicemail messages at a push of a button, getting you through your calls faster.
The more you can better automate your repetitive tasks, the more time you have to generate more deals.
Consider Outsourcing to a VA
Whatever you cannot automate, consider outsourcing some of those tasks to a virtual assistant (VA). If the thought of hiring someone seems overwhelming, try going to Fiverr and hiring someone for a simple task and see how that goes. Once you start feeling comfortable with the process, then consider hiring a VA on a part-time basis and as your business grows, then consider hiring them full-time.
The best aspect of outsourcing, especially using VAs, is its simplicity. You're not hiring W2 employees, but instead, you're using independent contractors who take care of their own taxes, insurance, etc.
Here's an excellent video to show you the variety of ways a VA can benefit your real estate investing business.
Build Up Your Brand with Testimonials and Referrals
Every deal you close, be sure to get a letter or, even better, a video showing how happy the seller was working with you. Add these testimonials to your website, landing pages, and social media platforms. Let the world know you helped the seller with great success. Other potential sellers will see this and feel much more confident working with you.
Also, consider creating a referral program where you pay someone a finder's fee for bringing you a possible deal and you pay them when it closes. The fee could be $500 or more depending on the deal.
Best Tools for Scaling Your Real Estate Business
ProfitDrive App
Get control of your time by leveraging our tools to do the dirty work for you. Be the first point of contact with motivated sellers, giving you the upper hand and getting your hands on more deals before your competition even gets the mailer out! Grab the D4D app and start driving today!
App for iPhones or App for Androids
All the tools you need to grow your real estate investing business. All in one place.
Convert more of your leads into deals with the all-in-one growth tool built for real estate investors.
Tracking Spreadsheet (Free version)
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Tracking Spreadsheet (Paid Version)
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Backflip provides tracking to ensure customers are paid within 24 hours of receiving the delivery. “Unlike other resale options, Backflip prioritizes the user's time and convenience,” said Adam Foosaner, CTO and Co-Founder of Backflip. “Forget the back-and-forth of negotiating over price and scheduling a meetup.
Everything M1 does centers on you, the investor. From our product features, to our automation tools, to the content we produce, we’re focused on helping you manage your money and grow your wealth the way you want to. That’s why our mantra is Yours to Build.
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Best Books for Scaling Your Real Estate Business
