Marketing strategies differ from business to business and are basically for every individual looking to gain traction in their respective markets. As an inbound channel, is radio really effective for people who are just starting out?
As REI Radio ads manager, Grace Mills discusses further in this episode, the radio presence of your wholesaling business may just be the ticket to having your market call you instead of you to them. While cold-calling and mailing work as efficiently, a radio ad requires absolutely no maintenance, unlike outbound marketing.
Tune in to find out how your wholesaling can get access to the radio industry.
Is Radio The Right Marketing Channel For A Newbie Wholesaler With Grace Mills
I have an amazing interview. I’ve got the pleasure of getting Grace Mills with REI Radio on the show. She is the genius behind radio. We’re going to be talking about how to negotiate with your sales rep about getting on radio, how to get the most discounted radio prices there are, why would a newbie want to join radio, and why would a guy like me that’s sending thousands of postcards as well as Facebook, website, SEO and pay-per-click want to use radio? What can it do with the credibility in the branding and the force multiplication in your market? Here you have it. Come on and join us in this awesome show. I hope you enjoy it. Grace Mills, how are you?
I’m doing well. Thank you so much, Brent, for having me on.
It’s my pleasure. I’ve been waiting to do this for a while. First of all, I thank you for all the help that you’ve given me and my company. We’re doing radio ads in Colorado Springs. I’m on four radio stations and I wouldn’t be on any if it wasn’t for you. I’m super excited to see that you’re now the face of REI Radio, not just the genius in the background. I don’t know if you know all of this. I was struggling with getting on radio stations. I love how you break it down with REI Radio. You gave me the step-by-step of exactly what to do.
When I went to the radio stations, one of them laughed at me. It was like, “There’s no way.” You teach how to get on radio at a discount. What are we as real estate investors? We are discount buyers. Why would I pay more for my ads? I’m getting my ads at a discount. You told me, “Hold off, wait and play the course.” You gave me the words to say in the email. I felt like I had the secret weapon. I even told the iHeart rep, “I got to get with my radio partner. She’s in charge here. I’m just the guy talking to you.” I put all that on you. That was so powerful. We do it in negotiation. Thank you for that.
There’s no problem. I’ve made a lot of mistakes over the course of playing and getting radio down to the system that we have. It wouldn’t be the system that it is if I didn’t make any mistakes. I picked the wrong stations. You have to play with pricing before you go, “That’s not a great deal. This isn’t a good situation to be in.” It’s understanding radio overall and what worked best for us and our company.
I can proudly say though that the radio rep called me back and asked for another meeting. I got exactly where I needed to be for one year under contract. It has come to the point where it’s time to change up my radio ads because I’ve been running them for quite some time. We’re changing them up to get in some other markets and increase our lead flow. Being the land guy, it works phenomenally for my land and houses as well. I’m super happy to get some time with you and learn more about radio and interview on it.
Radio Marketing: As you get on the radio and people start hearing you, they know to associate your company name where you’re a voice with.
I want to play devil’s advocate. We have a lot of people that are getting started in real estate. I’m going to play that person first, and then the guy that is like me who is sending so many mailers. I’m everywhere. I’m doing SEO, pay-per-click and Facebook. I want to know why that guy would need radio too. I would like to hear from your point of view. I know what mine is, but you might have a different point of view.
Let’s start as a newbie like I’m brand new. I’m getting started in a market. Would radio be good for me as a brand-new real estate investor? My full-time job is I’m an engineer over here and I’m trying to get started in radio. No one knows me. I have no credibility in my market. I don’t have a brand. Would you recommend to me starting with radio as a brand-new real estate investor?
I do believe a lot of people are wondering the same thing. They’re going, “Is this for me in my particular situation?” The best way that I would answer that is starting with what makes radio so much different from your other marketing sources is the ability to build a brand. As you work with people and sellers, you’re going to develop some habits. Those habits are going to start to feed into some reputation or the way that they are perceiving you.
That’s going to develop a brand, whether it was accidental or intentional. It’s going to feed into some brand. They’re going to go, “That person has great customer service. He’s a great listener. They took the time out to work with me and take care of me.” That goes into your branding. That may not have been your intention. That’s who you naturally are. You’re like, “I like helping people.” That’s a big deal. There are a lot of companies that don’t.
Wholesalers, real estate investors and anyone in that sphere, there are a lot of people who are in it purely for the money. They could care less about helping people. If you’re the type of person that you like focusing on that, that helps to build your brand and feeds into radio as well. As you get on radio and people start hearing you, they know to associate your company name or your voice with, “That’s the guy or lady who’s going to take care of me. That’s the person who’s going to make sure that I have everything that I need.”
It’s almost like they know you before they even call the first time.
What makes radio so much different from your other marketing sources is the ability to really build a brand.
Branding and building some sort of credibility is imperative, especially when you look at the industry as a whole. It’s only going to get more competitive. It’s even more important for you to find the thing that you do well and then run with that in terms of branding and credibility. For the person that’s going, “I’m new. I haven’t quite done a deal or not,” radio could be useful to you. It’s an inbound marketing source. If you know that you don’t have a whole lot of time to play with other marketing channels, that could be potentially the perfect option for you.
If you’re in a position where you’re going, “I’m not sure,” maybe you want to dive into another marketing channel and just keep radio in your back pocket. As you continue to grow and work with additional sellers, your marketing is going to grow with you. If you start with something like door knocking, driving for dollars or anything around that, that’s a perfectly great starting place. As you continue to build your branding, you may want to start expanding into something like radio to continue building that up.
You got me excited because I’m thinking I’m a door knocker. I’m out there knocking on doors. I say, “I’m Brent Bowers.” They’re like, “I heard you on the radio.” You have instant credibility. We have something to talk about. It’s the same thing when I had my meetup in Colorado Springs. Someone would come in and be like, “You’re the guy on the radio. You are so much better-looking than what you sound.” They never say that. There’s a whole joke of you have the face for radio type thing.
It brought me so much credibility as well as gave me pride in what I had done. I liked that. It’s not a bad idea. If you’re getting started, you can almost add it in later. What about the guy that’s like, “I’ve mailed all that I can mail. I’m tapping out my market. I’m on Facebook and SEO. I’m doing Craigslist and PPC. Would radio help me if I’m doing all these other things already?”
That’s a great situation to be in. From a marketing position, having a balance of outbound and inbound marketing strategies can be incredibly useful to you. It’s to add in one more element of, “At least I have leads coming in from this source. It’s not something I have to be super hands-on with.” Your other marketing channels may require a little bit more attention and maintenance. It may be a great balance for that person in that situation to add on one more thing that doesn’t require so much hands-on activity, attention, time and energy from you.
Secondly, for the person that’s already running so many other marketing channels, that’s great. Like I mentioned with the person that’s super new to the process, branding and credibility is still going to be important. Radio can create a force multiplier. There’s this idea that as a seller or potential customer that’s out here in the universe and if I see you and your name brand on a Facebook ad, bandit signs, billboards, banner ads on a website or anything like that, I’m seeing your brand and name constantly.
Radio Marketing: It’s even more important for you to find the thing that you do well, and then run with that in terms of branding and credibility.
You have to be the person that’s going to solve my problems because you’re everywhere. You got to be legitimate. I’m seeing you on the internet. You’re on Facebook. I’ve seen an Instagram ad from you. I hear you on the radio as well. You think about We Buy Ugly Houses or even Keller Williams brokerages. They’re so well-known because you see them everywhere. They’re on everything. If you’re the type of investor where you’re playing with a couple of other marketing channels already, it’s going to feed into further establishing you as the go-to person in your market.
It’s by being omnipresent. For instance, I looked at my headphones. I wanted to buy Bose because I know Bose. They’ve got a great name. They’re everywhere. I didn’t want to buy the off-market brand I had never heard of because they’re nowhere. I assume they’re not that good because they’re not everywhere. We have that as psychology. You said inbound and outbound marketing. What do you mean by that?
Inbound marketing or inbound marketing channels or campaigns are opportunities for leads to contact you. If you think of something like radio, they’re hearing you on the radio but they’re calling you, whereas an outbound marketing source is something like cold calling. You have to sit there, call the person and contact them. That’s outbound. I’m reaching out to that person. Inbound is they are coming to you. That’s the most basic way of thinking about it.
The first thing I think of is when we are sick, we go to a doctor. We will pay a hefty price for that doctor to make us feel better. That doctor is not cold calling, mailing or texting us. We are calling to make that appointment with that doctor because he’s going to solve our problems. He’s a specialist. I almost feel like we have more of that doctor-type aura of us when someone reaches out to us to set an appointment to come look at their property, house or land.
That would be more of an inbound call to us. We’re not reaching out to them and interrupting their day, whether it works and saying, “Would you consider an offer on your house?” It’s not that it doesn’t work. It works. When you find a motivated seller, it doesn’t matter if you catch them using the bathroom, he doesn’t care. You will not stop motivation. I had someone ask that on our standup call, “When does it become to the point where you’re chasing them too much?” I was like, “You cannot kill a motivated seller.”
In inbound and outbound marketing strategies, at least you’re covering all your bases. Imagine that you are only doing one of the two, and your competitors are doing both. You’re missing someone. What if there was a seller out there who saw or heard your ad or whatever inbound marketing channel you decided to utilize? There may be a seller who’s fine with calling you. You don’t have to pull their teeth. In the same way, there are sellers that don’t mind you giving them a call in the middle of the day because they were motivated to sell anyway. At least you’re covering your bases with both.
As you continue to grow and you work with additional sellers, your marketing is going to grow with you.
You’re hitting the hot button. When you talk about competitors, I could not outspend my competitor on the mail that he was sending. When I saw radio and one of my main competitors was not on radio, I was like, “This is way more affordable than sending multiple thousands of postcards each month. I could get on the radio and get all the leads that he’s not getting.” You hit it and struck a nerve right there with me.
A lot of people miss that, which is fine. What we discussed is that cold calling works. Mailers work. If you’re in a market, especially if you know that it’s competitive, and you have so many other competitors that you’re trying to compete against, you don’t want to miss any particular opportunities to hit a seller at all.
You mentioned something else too that piqued my interest. It’s when you said force multiplier. I came from the military. When I hear force multiplier, I think of troops, big guns and equipment. What do you mean when you say force multiplier when you talk about radio and real estate?
It’s more along the lines of brand awareness and perception. It’s being everywhere. It’s the psychology piece that we hit on. If someone sees that you’re everywhere all of the time, they’re like, “What am I doing wrong? Why haven’t I contacted this person?” It seems so credible. “I saw an ad here and there. I’ve heard their brand from word of mouth.” They start to go, “If that person is everywhere, it’s got to be legitimate.”
That force multiplier is in the mind of a seller or whoever is your consumer. They go, “I’ve seen you here, here and here” All of that combines to be this explosive, “That brand has got to be legitimate. I’m going to go ahead and contact them.” They force multiply. They all are adding in together to create the ultimate brand awareness so that your sellers don’t second think working with you. If anything, they’re going, “Why haven’t I contacted you yet? You’re everywhere. I kept seeing you.”
You’re toying with the seller’s emotion there. There are two motivators out there. There is fear of loss and gain of pleasure. Most people will run harder away from the fear of loss or towards fear of loss. They’re like, “What am I missing? Why am I not calling these people?” Would you say that that’s true?
Radio Marketing: If you know that it’s competitive and you have so many other competitors that you’re trying to compete against, you don’t want to miss any particular opportunities to hit a seller at all.
The fear of missing out is real.
I have my secret weapon, Grace Mills with REI Radio. The agent that I’m on four radio stations with came to me saying, “It’s about time to renew your contract. It’s also an election year so you’re not going to get the same price you got last time.” How would you help me combat that as REI Radio? Are you seeing that with other students? How do we get around that? I don’t want to pay more. I’m locked in. I’m used to paying $5 an ad or less for my station. She’s now trying to make me pay even more. How do we get around that?
It comes up occasionally with a sales rep. I would start by telling you that it’s perfectly normal for a sales rep to want more money from you. They are salespeople.
She’s aggressive too and serious. I always say, “It’s up to Grace.”
They’re watching their bottom line. To be honest with you, you can’t blame them for at least trying. I usually say, “I give them an E for effort.” If you have an opportunity to say, “I wonder if this person would agree to this price,” you’re going to throw it out and see if they bite on it or not. It’s in your best interest to not do that. The political point can be a unique situation. Political is purely a season. You want to be careful about the way that you rebut something like that, especially with where you’re at with your station and your particular sales rep.
As you mentioned, you’re working with a sales rep that’s more aggressive. There are multiple personality types across the radio salespeople world. Not all of them are aggressive. Some of them are sensitive and a little bit more people-oriented. Some of them care about upholding the brand of the company name. They’re almost patriotic to that degree, “I worked for such and such company for so long. I take care of my client.” There’s a delicate balance to how you want to rebut that but you want to be careful the way you do it on a personality basis, and where you’re at specifically with those deals.
If that person is everywhere, it’s got to be legitimate. The brand needs to be legitimate.
If I had a student sign up and ended up in that particular situation, I would work with them one-on-one to go, “Tell me a little bit about your sales rep and what it is that they said.” I will walk them through their entire follow-up conversation, “This is what you point out and say. Avoid saying this. If your proposal mentions this, this is what you want to state. If they follow up with their typical excuses, here’s how to rebut every single one so that you understand and you have them in your back pocket.”
I remember those emails on the first go-round. I don’t think that there’s any other program like that where someone like you, the expert, walks a student through it. Where can people find out more about you?
If this is something you’re kicking around as an idea or you’re at least curious and want some more information, if there are any questions that we can answer for you or help provide more information to see if this is something that may fit your business or not, you can go over to the website WholesalingInc.com/REIRadio for the REI Radio 2.0 Program and book a call. We will be happy to answer any questions that you potentially have that we can help you with.
There you have it, Grace Mills of REI Radio. I’m Brent Bowers. You can find me on YouTube. I rolled out a YouTube channel. Thanks for reading. Have a wonderful one.
Thank you so much.
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About Brent Bowers
Brent Bowers, is an investor and coach with a focus on buying and selling vacant land. As an Army Officer with over 8 years of service, Brent was spending a great deal of time away from his family, and he knew he needed to make some changes in order to be more present with his wife and children.
In a short period of time, Brent was able to expand his business, hire a team, and (most importantly) spend quality
time with his family while still working hard and helping others.
While Brent invests in many different types of real estate, his favorite investment strategy deals with buying and selling vacant land, and he enjoys sharing his expertise in this area with his coaching clients. Brent chooses to live his life based on Bob Burg’s quote, “Your influence is determined by how abundantly you place other people’s interests first.” He is passionate about helping other people find success in real estate investing, particularly in land investments.