Getting started in real estate investing can pose its share of challenges. Whether you’re a seasoned professional, or just getting started, there’s a lot to learn as you define your strategy to stay ahead of the competition.
CallRail’s Chris Nelson sat down with Josh McRay, owner of Lead Farmers PPC, to discuss best practices for generating leads and finding your competitive advantage in real estate investing. They’ll share tips for maximizing your marketing spend and delivering high-quality leads with the right tools for your business.
The game plan
Two rules of real estate investing:
1. Return on investment is the king metric in marketing.
2. The most successful real estate investors focus on ROI from the very start.
If you're not getting a return on investment or return on ad spend on your marketing, there's a lot of work to be done. The most successful real estate investors focus on return on investment from the very start and set up their businesses with the idea that they'll find the most economical way to spend ad dollars.
Two-prong approach to these lessons:
- Make your marketing stand out from the start.
- Start with the right tools.
#1: Make your marketing stand out from the start.
- Positive ROI or ROAS is essential for both large and small businesses
- Every dollar invested into your business needs to be given the best chance possible to work for you.
- You’re competing with dozens of other real estate investors in your market that are using the same strategies
Suppose you pause to look at what everyone else is doing in real estate investing marketing. You might find you're competing with other real estate investors who are doing the exact same thing as you — sending out the same direct mail pieces, using the same cold calling lists, and the same type of ads online.
So, how do you set yourself apart from what everyone else is doing?
Consider implementing these four key plays:
1. Who you are - Let your potential clients know what qualifies you.
2. What you do - Offer to create win-win solutions for homeowners in tough situations. If you can't offer something different from others in the market, how can you repackage what you can offer?
3. Where you do it - Let people know where you operate so they know that you are local, which, for most sellers in most markets, matters. Get granular with your advertising!
4. What makes you different - The market is saturated with people offering the same things: cash offers, fast closing, and no realtor fees or commissions. Find something that few competitors are offering.
Apply these four keys to business aspects like your marketing, sales process, and business culture to help create a conducive message from the top down.
For example, your sales team needs to understand how to sell, and marketing needs to know how to write ads that fit best with your sales process and communicate what makes you stand out amongst competitors.
#2: Start with the right tools.
- Measuring results is just as important as getting them.
- Having the right tools and systems in place helps show where the ROI in your marketing funnel comes from.
- Without them, you can end up spending hundreds of dollars on marketing channels that you think are working, but really aren’t.
Measuring results and attributing success will help you scale up the process. And with the right tools, you can identify which lead channels that drive the most return on investment.
Why Lead Farmers PPC recommends CallRail to their clients
Lead Farmer PPC turned to CallRail to help find their missing link: measuring phone call conversions. Through call tracking, they could attribute which marketing channels were driving the most calls and delivering the highest return on investment.
Get deals across the finish line
As your business grows and changes, your answers to the four key questions might also change over time. Having the right tools in place makes the biggest difference. By investing in tools that will help streamline your process, you can spend more time doing what matters: getting deals to the finish line. With the data you’ve compiled from these tools and your desire for service, you can differentiate your business in the marketplace.
Learn more by watching the full on-demand webinar here.
