Beginning Real Estate Investors Spend Too Much Time Doing Mail Marketing
The starting investor spends an inordinate length of time preparing and mailing each advertising campaign. From the outset, an effective campaign requires foresight into which areas have higher possibility of lead conversion. Once determined, the marketer needs to get access to a marketing list, cleanse the info, and then prepare a mail merge campaign for distribution. Lastly, they convert the campaign to hard copy, stuff and mail the finished letters to the prospects. Startups are designed for this process for smaller campaigns but quickly find that it is not scalable precisely for those who have to grow their business.
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The modern investor, having no staff, can often be responsible for each part of the business. The challenge is any time spent doing marketing 's time not spent doing directly profitable activities like lead conversion. To provide further pressure, many have day jobs, which could limit the amount of time available to work on the business. Whilst the established investor might source the low value activities into a third party or part of their team, the starting investor doesn't necessarily have the capital or experience to do so.
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It is critically important for business owners to begin simplifying and automating any routine tasks within their business so that they can focus their energy and time on value added activities. To simplify they ought to streamline decisions and manual effort through processes by leveraging external sources. When starting out it is both economical and conservative to be effective in the business alone. However, long-term growth achieved once the owner is doing work in their strengths and also on revenue generating activities.
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You will find three actions to scale back marketing time and improve business growth and scalability. The foremost is leveraging market trend information to high-grade the operation of choosing a target market segment. Investors should plug themselves in to a local real-estate investors association and identify on-line sources for market insights. This will minimize the time allocated to the front-end of each marketing cycle to determine where it is best to expand.
Next, it is very important simplify the data-gathering and preparation practices. Most of the online marketing data sources provide complex and expensive tools, which provide flexibility but then take it away by requiring an individual to subset their data in awkward solutions to fit within their marketing budget. Following the data is gathered, greater manual and detail intensive task is data cleansing. The perceptive investor simplifies the reoccurring data gathering and cleansing tasks through basic and low-cost means. Finally, the duty of preparing the mail campaign for distribution must be outsourced as soon as possible because it is the single biggest time sink and isn't scalable without assistance.
Taking these steps will greatly minimize the time-spent marketing leave more time for profit generating tasks such as working with and converting leads. Automating and simplifying is a vital step to improving the scalability of commercial operations and getting ready for business growth and expansion.