It’s becoming increasingly difficult to cold call and text people, yielding significantly fewer leads. The reasons for this are market saturation, phone carrier blockages, and Telephone Consumer Protection Act (TCPA) lawsuits.
Lauren Hardy will introduce us to a new marketing method that requires less effort and can bring you countless deals in today’s episode. She will also talk about how this campaign generated 107 leads in the first month and is now generating 5x return in her pipeline.
If you want to try out a new marketing strategy, this is the episode for you.
How to Standout – A New Marketing Channel that is Producing 5x Return on Investment
I want to share with you my new favorite way to get real estate leads for wholesaling in my virtual markets. I’m a virtual real estate investor. I invest out of state, outside of my backyard. I decided to try a new marketing campaign. The reason is that cold calling and texting are getting harder. Why is it getting harder? I’m sure if you guys are actively cold calling and texting, you are not immune to this. You have probably noticed that your carrier blockage has gone up. You are probably noticing you are getting way fewer leads, especially on your cold calling campaigns.
I have seen personally that the amount of leads we are getting on cold calling campaigns has drastically changed from a couple of years ago. The reason is there are a lot of saturation but also there are a ton of carrier blockages. The phone carriers are getting smarter and they are figuring out how to spam our phone numbers. We are not able to get our calls through to sellers. It is getting hard. There are also TCPA lawsuits, a lot of plaintiff attorneys are going around and are looking for people to make mistakes with in regards to the TCPA Compliance Laws.
More than ever, people that are doing cold calling campaigns are starting to get worried. They want to make sure that they cross their T’s and dot their I’s because they don’t want to get sued. Texting and cold calling are getting tough. I decided I needed to align myself with something that I know that is a little bit more set it and forget it, something that is not as difficult to manage as a cold calling campaign or a texting campaign.
With cold calling and texting, it’s not set it and forget it. It is not something that you can get it all dialed in, sit back and answer seller lead calls. You can’t because either you are going to be the one cold calling, which is extremely labor-intensive, same with texting or you are hiring it out, which is what we do. You have to manage those people that you hire out. They are not always going to work and be honest about their work. You have to go through a few people to get the right one often. The thing is I wanted an inbound campaign, something where leads are coming in and it’s more set it and forget it.
Marketing campaigns such as cold calling are not always going to work. You have to go through a few people to get the right one often.
Inbound is easier as far as campaigns to manage. The reason is that you don’t have employees, any phone carrier blockage or worry about a TCPA lawsuit. I am going to share with you the new campaign that I’m using that has already 5X its results. I’m going to share with you what the new marketing method is, and I’m going to also tell you how I’ve got set up with it. I’m going to share with you the results of the new marketing campaign and how you can get started with the same exact campaign in your market.
What is my new favorite marketing campaign that I’m so hot for? TV ads. I’ve got a commercial. I am on it. This commercial is playing in some good TV slots, primary daytime TV slots. It’s also playing in some nights slots as well. I’ve got the best shows as far as the seller avatar that we are looking for. My commercial is getting right in front of them. We are talking Maury, TMZ, and Judge Judy. These are shows that our primary seller avatar are watching.
I’m working with somebody who’s done that research. He’s an expert media buyer and knows the exact type of shows that I need to be in front of. I have a TV commercial and it’s awesome. It’s running all day long in my local markets, and I am amazed at the results of how many leads I have been getting. How did I get set up with TV? I started with a program called Real Estate Masters TV. The Creator of the program, his name is Tony Javier. He was telling me how much success he had in his TV ads and I wanted to learn more about it.
I signed up for his program, I took his course and he did everything for me. He met me in San Diego and I filmed my commercial with him. It only took about fifteen minutes and the rest was done by his team. He has his media buyer get all of my TV airtime slots so I didn’t have to worry about that. In fact, I wouldn’t have been able to do that because I don’t have those connections anyway. They bought me the airtime, got my schedule and edited my commercial. It was all set it and forget it.
It’s honestly been the easiest campaign I have ever set up before. All I had to do is I would buy a phone number and make sure that it’s routed to one of my team members so they could answer live. That is all I had to do and film that commercial, which took all about fifteen minutes. After I was all done and the commercial was set up, I’ve got to sit back and wait for leads to come in. Still to this day, we are a couple of months into it, all I’m doing is sitting back and answering seller lead calls. It is crazy how easy it was to set this campaign up, way easier than cold calling and texting. Cold calling and texting took a month to figure out how to do the campaign.
This is by far the easiest marketing method I have ever done. It’s even easier than direct mail. Direct mail is cool because you are getting leads. They get your postcard and call you. It is inbound but you still have to figure out what list you are going to pull. There are a lot of data and list management that you have to have knowledge about, know what you are doing there and stay on top of it. This was even easier than that. I’m stoked about how uninvolved I had to be in the setup process. Let’s get into the results of my marketing campaigns.
At this time, it’s reasonable to expect that I have deals in the pipeline from TV. I started on June 1, 2021. In that first month, I’ve got 107 leads. That was amazing. My pipeline looks like I’m going to 5X return this June’s ad spend. The leads that came from June are the now contracts that I have in my pipeline that is set to close in August and it’s a 5X return now. That is just a start. That’s my first month. Usually, it takes a while for campaign ROI to increase through time, so to start out being at a 4X or 5X on any type of marketing campaign is good.
What is ROI? You might not be familiar with this. This is Return On Investment. If you spend $5,000 on a marketing campaign, it would be ideal that you forex it, meaning that you made $20,000. That’s an average number in all industries but it depends on the type of marketing campaign on how cheap it was. You might want a larger ROI. If it was cheap, for example, if your text message campaign was only $2,500 in the month, you might want more than a 4X for that type of campaign because that campaign is also labor intensive as well.
Learn from others’ mistakes so you can avoid making them and provide solutions for your ideal customers the right way.
The fact that these TV ads are already at 5X, that’s a good number that is showing me a healthy profit in the five-figure range. I’m super happy about it. We can double that by the end of 2021. What I have heard is that TV ads can produce a 10X to 11X the first year after you have been running for some time. I couldn’t be happier with my results.
Not just that but my team is happier because the leads are better. They are calling you. They are a little bit more motivated and it’s not like when you cold call or text where the seller has this attitude like, “You are calling me.” It’s not like that. It’s nice to be able to sit back and answer seller calls. These are customers that do need you.
You might be wondering how can you get started. If you wanted to try to do this on your own, you are probably going to fail. I don’t think I could have done this on my own. I wouldn’t have known who to go to. I don’t have those connections with the TV networks the way Tony Javier’s team does. For me, it was easier to go with an expert who knew what he was doing. That’s what I did. I signed up for the Real Estate Masters TV program, and I had them handle everything for me from start to finish.
The market that I’m doing it in is about a million population in the Metro, maybe 1.5 million. I chose to spend $6,900 per month on ads. It sounds like a lot but remember 5X. It is a lot but if you are in a smaller market, you won’t have to spend that much. I decided to go big. I’m a go big or go home kind of girl. I wanted to dominate TV ads in the area so I went that route. After seeing the results, I signed up for another territory. I’m doing ads in another one of my markets. I’m so excited because this market, we would kill it. That’s how you get started. Go to the pro. Cut the learning curve.
If I tried to do this on my own, I would have not known how to film a commercial. My commercial would have totally sucked. I don’t even know what a media buyer is. I probably would have contacted the wrong one. I don’t know if that media buyer understands our industry and the avatar or the seller. What I mean by the avatar is the person that we are trying to market to. What does that person look like? What are that person’s hobbies? What are they watching on TV? You need to go with somebody who’s an expert and knows your avatar so they can put your commercial in front of that person.
I do not know how I would have done it if it wasn’t for Tony’s team. Honestly, I’m excited about the future of TV. It’s sparked my interest in more inbound campaigns because the outbound campaigns have gotten difficult and harder. I had another source of leads and it’s important because otherwise, we would get pretty dry. For me, TV ads were something I always wanted to try. I believed in it and I’m excited that I made that choice because now I have a campaign that is crushing it for me and my team. The thing is TV ads are something that you can do in virtual markets.
I’m in four markets now. I decided to do ads in one of my markets to try and test it out. Now, I’m already starting up with another market. I’m going to have ads in two markets. It is the easiest type of campaign to run when you are virtual. It aligns with the virtual wholesaling model that I am so obsessed with. I love virtual wholesaling. It’s because I’m a virtual wholesaler, I’m able to pick up and leave a market if it started to get too saturated or I could go to markets that I hear that there are a lot of opportunities to be in.
It’s enabled me to not be stuck in my backyard. I figured out how to do deals virtually, I have been able to multiply myself and scale the business in a way where I could have the lifestyle I wanted. For me, I wanted the lifestyle more than I wanted to be working, grinding, going to properties, and working ten hours a day but not seeing my kids.
I was more of a lifestyle person. I want to be out on the beach. I want to pick up my kids from school. I want to volunteer in their classes. I want to be able to go on vacation and my team is running everything, and because I was virtual, I set myself up that way. I have to figure out always what campaigns work best for virtual.
Now, I’m thinking the TV ads are the way to go for me. That’s it, guys. I hope you liked this and got something out of it. If you want to learn more about virtual investing, make sure you check out my coaching program at www.VirtualInvestingMastery.com. We have a ton of successful students that are doing well in their virtual markets in a very short amount of time. I cut the learning curve. I give you all of the mistakes that I made and the solutions so you do not make them. Check out that coaching program. I will see you next time.
About Lauren Hardy
Lauren Hardy is a Virtual Investing expert and Real Estate influencer who owns multiple companies in the real estate industry including real estate investment, coaching, and software companies. She is also a Wholesaling Inc coach and co-host of the Wholesaling Inc Podcast.
Her experience in the last decade has been focused on real estate investing and creating products and services to serve the real estate investing community. If you are interested in investing in real estate virtually, house flipping, or virtual landlording, Lauren’s your girl.