Cash Flow Business Insights – Effectively Marketing Your Cash Flow Business
As you begin to set up a cash flow investing business, you’ll want to have some basic materials to help you. The materials you use will vary depending on your preferred approach to marketing. One thing to keep in mind with this business is that it is a people business. You will do better as an investor if you are willing to talk to people and develop a talent for talking to people. Once you’re willing to accept that this is a people business, you can set up and organize your approach.
You may need to start compiling a list of contacts or leads to work with. Business cards are a vital part of any business and especially this one. You’ll want to have them with you at all times so you can work on your business wherever you are. If you want to grow as a business, you need to tell the people you know about what you do and how you can help them.
Make sure you get some business cards when you start your business. Newsletters are also an important resource when working in the cash flow business. You can use these newsletters for both professional reference sources and note holders. The importance of newsletters cannot be stressed enough. This is what brings you your referral and your residual business. This is the most exciting part of any business. Once you get the residual returns, you can pretty much sit back and watch it happen!
Flyers and brochures will also be an important part of your marketing toolkit. Simple flyers can be used for cooperative marketing with some companies. They are also useful for local advertising on community boards. You can create many different flyers and brochures that are useful for many facets of your marketing with a simple Word program on your computer. You don’t need to create anything complicated. It will suffice to specify a few details about what you offer.
Other marketing options may include some of the following:
o Street signs/car magnets
o Radio and television (Works well but we hope you have a lot of money)
o Cooperative marketing (use flyers)
o Seminars and exhibitions (use flyers, newsletters and brochures)
o Billboards (Works fine but we hope you have a lot of money)
What About Lead Lists? You may wonder. In this business, as in many others, a list of potential ticket holders is a good idea if you are going to do direct marketing to ticket holders. There are a few things to keep in mind when buying from your leads. It’s a cost worth spending as long as you understand what the list is. A common misconception with these prospect lists is that the list is “current” or “qualified.” I guess it’s really your expectations that need to be corrected with this part of marketing.
Think about the implications of those two qualities and try to define what the words mean. When it comes to note holders, the only information available is what can be found in the public record when the note was created. Whether this information is “current” is irrelevant. It is what it was when it was recorded. That is the only information that is available to the list compilers. The question of whether leads are “qualified” is also invalid because, again, lead information is only what is available in the public records database. It is not often that a note is engraved with the phrase “I want to sell this note”.
The alternative to buying a list of leads is to find the leads yourself, a time-consuming and possibly frustrating process when you need to work with such large numbers. You can buy a list of leads to bypass the work involved in personally researching the information. When shopping for leads, be wary of anyone who tells you they have leads from pre-qualified or motivated sellers. Think about this; Why would they sell you the lead if the person wanted to sell the note for sure? I certainly wouldn’t sell you those tracks! You should never trust any company that makes such ridiculous promises.
When shopping for a lead list for this type of business, you need to accept that not every piece of marketing you send will reach the intended recipient. People move and progress changes everything. The address on the public record may no longer exist. If you are determined to take this approach to marketing, you need to understand that a 30% undeliverable return rate is very normal. One more thing about those leads that you need to understand is that they will very rarely come with phone numbers.
In conclusion, I would like to say that there are still many great opportunities available in this business. It’s not for everyone and it takes effort to make such a business a reality, but the benefits can be great if you put in the necessary effort. Marketing is important to any business and is actually a common part of all of our lives.
It varies depending on what we are currently involved in, but it is always there. We are already telling people what we are and what we do in life. We are already gathering contacts for various parts of our lives. Don’t complicate the problem by thinking that marketing this business is different from what you already do.