Radio & TV Commericials. I Buy Houses.
Hello, all,
I've been strongly considering taking our REI business to another level. I've been thinking about radio & TV commericals. I've also thought about billboards.
Any of you done the above?
Thanks,
OTW
My experience with radio is that it is hard to target. You will get a huge variety of calls from lots of areas. The volume of response will be big, but not necessarily the quality of leads that you want.
I have an investor friend who recently tried this as well and came to the same conclusion...it is just too broad of an audience.
What else do you already have in place for marketing? Direct Mail, flyers, coupon mailers, and community papers can all be targeted exceptionally well.
Why not just increase the # of mailers you send out instead of investing in radio/TV?
If you DO decide to try radio/TV, I would for sure hire a live answering service to be sure that you are not overwhelmed with the volume of calls. Good luck!
Jason
I've been considering radio ads also and will like to see what other peoples thoughts are.
Jason- I'm assuming your friend ended up with some usable deals that generated income.
Quote:
On 2004-07-01 10:37, maxwellpropertyinvestment wrote:
Jason- I'm assuming your friend ended up with some usable deals that generated income.
mpi,
True, he did get a deal, maybe two. BUT when he sat down to figure out his cost-per-deal (the amount of $$$ spent on marketing to get each deal), it was significantly higher than other forms of marketing.
He had to handle a large volume of calls to find those deals. This cost him a lot of money, not to mention the cost of radio advertising in the first place.
It comes down to ROI. Marketing is an investment, perhaps one of the most important investments you make. I see it as more than an investment of money, too. There are time and energy to be considered as well.
However, as with anything in marketing...you just have to test. Let us know how it goes for you if you try it.
Jason
I am in the process of putting together a short (29 seconds) tv commercial for the southern california area. I feel the investment will be well worth the returns. My is goal is 5 deals. If close 1 deal I will have my roi back. Check with your local cable company about advertising rates you will be surprised how reasonalbe they are. Good luck.
Chris