Welcome marketing tip #3 in my marketing tip series. Today's topic is, “The one thing that is guaranteed to be the kiss of death for your business”. Do you know what that is? I’ll bet you don’t.
It’s putting all your eggs in one basket.
What Do I Mean by That? The Kiss of Death?
I love direct mail. It’s has been my number one way of consistently getting leads for many years. But what do you suppose would happen if the direct mail response rates were to plummet (like they have), and that was my only way to get deals?
As the saying goes, I would be “up the creek without a paddle”.
Everyone needs to have multiple ways of finding deals. Now those ways will be a little different for everyone.
What Determines Your Marketing Strategies?
Your marketing strategies will be determined by a number of factors like
- The amount of cash you can devote to marketing
- Your access to money for someone wanting to rehab
- Whether you need to focus mostly on free or low cost strategies
- Your primary investing strategy
- Your target audience (AKA the group of sellers you are targeting)
- Whether you have more time OR more money to devote to marketing
- Your exit strategies
- Your short and long term goals
There are a whole lot of different pieces that go into the “marketing pie”, and putting those pieces together correctly is really the secret sauce when it comes to marketing.
It’s important to know that no two marketing plans look exactly alike. Your business model and even your individual personality play a part in all of this too.
In our next email, we will get down to the “nitty-gritty” of marketing plans.
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