You run advertisements to generate leads.
After all, you’re not paying for mailers and Facebook ads and SEO website changes because you want people to think your business is neat… you’re trying to get your target market to pick up the phone and call you.
But therein lies the real secret… getting your “target market” to call.
You don’t want every tire-kicking Jim and Joe to ring you up for a chat.
You want to generate high-quality leads that turn into deals… as many as possible.
Unfortunately, most wholesalers are plagued by a plethora of talkative, time-wasting leads that’ll never turn into deals.
In fact, here are 3 common ways that real estate investors attract low-quality leads… and what to do instead.
Note: In truth, it’s difficult to know which leads are quality and which ones aren’t. We recommend having a good follow-up process to convert as many leads into deals as possible. Learn more about that over here. This article is simply about how to structure your marketing so that you attract more high-quality leads and fewer low-quality leads.
1. Generalist Direct Mail
As much as possible, the mail you send should be specific to the people who you sent it to. Sending general offers and campaigns (like the example below) might get the phone ringing… but a lot of those leads aren’t going to turn into deals.
Try sending more targeted mail.
If you’re sending mail to a foreclosure list, for example, then appeal to their specific challenges and explain how you can help them. Your message should match the audience.
This will help to attract people who are actually interested in your service.
And if you want to create a more personal vibe with your target market, consider Ballpoint Marketing, which allows you to send hand-written mailers that get a great response rate from high-quality leads.
2. Only Seeking Motivated Sellers
Two months ago, Ryan Dossey, the founder of Call Porter and a 7-figure real estate investor, shared on Facebook about how motivated sellers are his least favorite leads… and why unmotivated tire kickers are where 99% of his deals come from.
At first, this might seem contrary to the point of this article.
But it’s not.
Because only trying to attract highly motivated sellers is one way that you can end up generating low-quality leads.
Motivated sellers are great… but they are also being targeted by every other investor in the area. This means that they can be more difficult to convert than their “tire-kicking” counterparts. And if you have a good follow-up system, you might be surprised at how many of those “tire kickers” end up converting within a few months.
Check out Ryan Dossey’s Youtube video above to learn more!
3. Making Your Offer Too Good To Be True
When you create advertising materials, you naturally want to make it as compelling as possible so that it drives real results.
But some investors go over the top and make their offer seem too good to be true. And that’s a problem. Most reasonable people will ignore your mailer if it seems too good to be true — they’ll assume it’s a scam.
What’s worse is that the people who do call are probably highly emotional and unlikely to turn into deals… because those are the people that too-good-to-be-true offers attract.
So tone it down just a little bit.
Explain your service, who it’s for, how you can help, and what people should do if they’re interested.