Personal Blog
Copycat Marketing
Every day we are bombarded by ads. We all have learned to filter these out of our daily life. For example, how many of us all sort our mail over the trash can? Consider how much time you give each ad before it hits the round file–It’s usually less than a second for me.
However, when most people start out trying to create their own advertising, they instantly feel even though the ads don’t work on them they MUST work on other people–or else why would anyone else be spending money to do it in the first place? People think that copycatting so many of the other types of advertising they have seen (and unconsciously filtered) in the past is how things are done.
For example, some think putting words like ‘FREE’ or ‘INCREDIBLE’ or ‘THIS OFFER WONT LAST’ is just going to SUCK PEOPLE IN LIKE A MAGNET!!! To me, these are the classic words that instantly label what I am reading as another junk mail/spam/advertisement as I shoot it toward the trash bin at lightning speed.
Q: So, what is the BEST way to advertise to find deals?
A: The EXACT OPPOSITE of what you see everyone else doing. In other words, refrain from the “Monkey see, monkey do” method. Here are some terrible examples I see every day in my town.
Negatively Stereotyped/Overused:
WE BUY HOUSES!
SELL YOUR HOUSE FAST!
CA$H FOR HOUSES!
Only Attracts Newbies:
NO MONEY DOWN!
INVESTMENT HOUSE!
CHEAP FIXER!
HANDYMAN SPECIAL!
Q: Should I put my phone number on my ads or my website address?
A: Deciding to call someone is making a minor commitment. It is a commitment because they have decided to do so even though they are running the risk of losing face if they sound stupid or feeling that they’ve wasted your time on the phone unless they are positive you can offer them the solution they need. People who have questions avoid commitments. That is why, when given the choice between the two, most people will visit your website before calling you (if they have to) Visiting a website offers a no hassle, no pressure, no strong-arm salesman way to learn more before making that commitment.
PLUS, a website address adds credibility and professionalism to your ad. Not only that, but it’s automated. Personally, I CANT MEMORIZE phone numbers, and I have yet to write down phone numbers on ANY advertisment. But I CAN remember website addresses.
Q: What do you think about bandit signs?
A: Bandit signs, in my opinion, are generally ugly and over-used and many people despise them. You have to check with every city to make sure you won’t get slapped with a fine and they are generally a hassle. You are spending money on the signs, time writing on them if you use markers, time driving around and putting them up HIGH where hopefully nobody will be able to get them easily, and spending GAS $$$ to check on them monthly? weekly? daily?
Here in Utah, they pay the Boy Scouts $0.25 for every one of those signs they tear down. And have you ever noticed that when a Realtor sign goes up with all the nice red directionals around the neighborhood, your signs are nowhere to be found??
But in general, people around nicer neighborhoods especially will tear them down and it I personally feel there is no faster way to create an instant negative reputation for yourself than this method of advertisement.
Hopefully, if you choose to use bandit signs, you are at least TARGETING your advertisement by placing them near the neighborhoods you’d like to purchase in (eg. appreciating neighborhoods, or neighborhoods full of junkers, or pretty house neighborhoods, or whatever your niche is)
And regardless of the advertising method you choose, you must be TRACKING it so you know where to continue spending your advertising dollars in the future. Every time a new person calls you, you should ask “How did you hear about us?”
You should be tracking every penny you spend on your advertising efforts and finding out how much it costs you per successful deal and which method of advertising is working best for you.
| Print article | This entry was posted by Mike Smullin on December 3, 2005 at 5:23 am, and is filed under Real Estate Investment. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site. |

about 4 years ago
Mike,
I partially agree with your comments here. There are many overused marketing slogans – mainly because of the major “Gurus” pumping this stuff at their weekend events. I do have to say though that you may be eliminating some future deals by not investigating how to market with signs more effectively.
I used to market exclusively through direct mail. My partner spent a ton of time digging addresses and names out of public data. We had some good luck with this, but the response wasn’t enough to grow out business. We both felt like the traditional signs were overplayed so we tried to put one together that was a bit different. So far, the results have been unbelievable. We are now getting 30+ calls a week and converting about 1 per week into deals. It is blowing us away.
Signs aren’t a new thing in my town either. I am in Cincinnati and we have one of the oldest REIA groups in the nation. There is a large amount of competition in this market and yet the signs have been pulling fantastically.