The Science of Flipping - Episode 134: Marketing and Consistency – Real Estate Investing

Starting point is 00:00:00 Welcome to the Science of Flipping Podcast. I'm your host, Justin Colby. Yo, yo, what is up? What is up? Welcome back to the Science of Flipping Podcast. This is going to be really, really cool because I am going to leverage all the social medias moving forward. So you are going to see this podcast not only on iTunes, obviously, but you're also going to see it on YouTube. You're going to see it on Instagram, on the IGTV. You're going to see it all over Facebook. I am getting so serious because of our boy Gary Vee just called me out about what I'm doing with my social media game. And so I'm taking it serious, man. I'm looking at you, Gary Vee. I got you. So welcome back to the Science of Living podcast. If you don't follow me on Instagram, the Justin Colby on Instagram or Facebook, the Justin Colby. I drop a lot of knowledge. I do a lot of training videos. So beyond just these incredible podcasts,

Starting point is 00:01:10 make sure to get over to Facebook and Instagram as I do a lot of free content on there. Uh, both of which are under the Justin Colby is the, uh, name I guess is what you would call it. Right. Um, so anyways, I want to get into this right away because one of the things that, um guess is what you would call it, right? So anyways, I want to get into this right away because one of the things that is just all I've been going after this subject for now, four or five, six months, but going into 2019, I want you guys really to be focused on what type of marketing you guys are going to be doing because here is the deal. As the market is shifting, we all agree now that the marketing is shifting. I have a lot of one-on-one clients that I work with

Starting point is 00:01:47 throughout the United States. They're all feeling it. Even the Bay Area, for God's sakes, is feeling it. So you know if the Bay Area is feeling a market shift, things are really starting to happen here. We here in Phoenix are feeling it. We know Florida and Texas are feeling it as well. So anyways, the point to all of that is

Starting point is 00:02:05 we need to be focused on bringing in leads. Now, I personally run six different marketing strategies. I'll name them for you. I run PPC. I run direct mail. I run, uh, bandit signs, cold calling, uh, ringless voicemail drops and, or will I do RVM ringless voicemail drops and voicemail drops, right? Where it actually rings, uh, as well as door knocking. Right. Uh, I said, bandit sign door knocking. I said them all. So, um, one of the things that I think is most pivotal for everybody to understand is you don't need a huge marketing budget to do this. Even if you have, you know, $500, $1,000 a month, the key to what you need to be doing in marketing is consistency. That's the name of the game. So for example, I have clients that are working full time, but every time that they come home,

Starting point is 00:03:10 they're making calls. They get home roughly around four. They spend the next three hours cold calling homeowners from a list, the same list that they send out direct mail, so that they can reach more people. The key to marketing is all about reaching people, right? This is an event-based business. So as you are going down this path of becoming an expert marketer, realize your clientele, the person that ultimately is going to sell you their home is likely going through an event that is forcing them to, not all the time, but that very likely is going to be the scenario. So what does that mean? Well, the people that, you know, say, yeah, I'm kind of interested in selling my home. Um, you know, not sure when,

Starting point is 00:03:51 not sure where, well, you need to keep that person in a long-term nurture follow-up. The reason being is I would say 85% of our deals that we currently get today right now in Phoenix are from six months or older okay meaning they weren't a piece of mail that dropped today that we got the deal today or it wasn't a PPC lead that came in today that we got today it is typically roughly 85 percent of our deals are from marketing we did six months ago or longer. We just got a lead in last week. I remember because my acquisition guy, Anthony was like, holy shit, this is from 2016, right? That's a long time ago. And so, and that lead just came in, might I add. So people do keep your direct mail. They do save your voicemails. They do keep your number. They do

Starting point is 00:04:45 write themselves notes to call you back at a different time. So it's going to be about your consistency. Now, again, the reason why I said I'm not for this purpose of this training in podcast, I'm not. So I don't want to focus on how much money you have because the reality is this. Between door knocking, cold calling, and voicemail drops, you guys have enough money, period. Voicemail drops are incredibly cheap. They're bringing in roughly two to four leads every single day into our business. Two to four leads every single day. Now think about that. If we do it, let's just say 20 days a month, two is going to be 40 leads. Four is going to be four leads times 40 is 80. Nope. 160. I just couldn't even do the math right there. That's hysterical. But that's a lot of leads

Starting point is 00:05:43 every single month. Too bad my phone's recording this right now because I want to do the math and I'm blanking on the math. Holy crap. It's got to be 160. So, you know, four times 40 or four times 20 is 80. Yeah. Okay. Sorry. Just confused myself there. So, if we bring in four leads a day times 20, that's 80 leads a month. That's a deal. Every month, right? And ringless voicemails or voicemail drops

Starting point is 00:06:11 are super, super cheap. Cold calling is super, super cheap. We're bringing in one to two leads every single day from cold calling. Where you need to spend your money, where it gets more expensive is direct mail, PPC. Those two can be much more expensive. But it all goes back to the main purpose of this training.

Starting point is 00:06:32 This podcast is going to be consistency. You got to have a level of consistency in your marketing or it just won't work. And then you need to translate that into how your follow-up works. You can't just kind of kick the can and, oh, they're not really that interested in selling and not worry about them. Those are the people that we, me and my team are going to go get. So if you're in my market and you're just kind of kicking the can saying, these people, you know, they don't really want to sell. They're not hyper-motivated. Well, I'm going to follow up with them. And that's going to add to

Starting point is 00:07:04 my hundred plus deals a year, every year I I do not because they all came that year. It's because we do massive follow-up again, six months ago or older is roughly 85% of our leads. And that's just because most people are not hyper motivated. Now, for those of you that are in the market and you do see the shift, I will tell you this, you are going to see a lot more motivation moving forward to finish this year and to start next year. You're going to see a lot more motivation. So it will matter that you are hyper, you know, aggressive about setting up appointments, you know, strong with your closings, giving in offers, because the more offers you give, the more chances you have for them to say yes, right? So we will always give offers to sellers. Again, it doesn't matter if they're not motivated. They're like, oh, I want to sell. I just not sure

Starting point is 00:07:56 when. That's great. We will still go in and give them an offer And we will continue to follow up until those deals get done. So it's such an important message that I've just been harping on. This is not my first time on the podcast talking about marketing, but I want you guys to really understand it does not matter how much money you have. It matters how consistent you are. Voicemail drops, cold calling, door knocking are the cheapest way to get leads. Period. Hands down. There is no argument about that. But how often do you do it? Are you being consistent? Are you holding yourself accountable? Those are the questions you need to answer. Those are the questions that only you know. And I will tell you this, if you're listening to this right now or watching this video on YouTube, or maybe it's on Instagram

Starting point is 00:08:50 somewhere on IGTV, I will tell you now that it is so important that you hold yourself accountable because otherwise you will just not hit the mark. So hold yourself accountable. Be consistent. You will get deals, but you also have to be patient and be consistent with it. That's what I got today, guys. If you want my book, I'm now just going to give it away for free. Yes, it's still on Amazon. Go to thescienceofflipping.com forward slash book, thescienceofflipping.com forward slash book. Get my book, download it. It's there for you guys. Peace.

The Science of Flipping - Episode 134: Marketing and Consistency – Real Estate Investing

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