Ian,
I have been contemplating establishing a Web site for my real estate investment business for the purpose of generating leads for sellers, buyers, and financial partners. I wanted to know if this is something that you do. If so, what has been your experience?
(Aaron Davis; Baltimore, MD)
Hi Aaron,
There are two good reasons to have a Web site for your real estate investing business: Branding and Lead Generation. Let’s take a brief look at how a Web site can best be used for each.
Branding
Like the traditional branding of cattle, a business can be branded so that it is readily identified by consumers. A brand is a singular message communicated by a set of audio and/or visual elements. For example, the NBC peacock and the three simple tones, the “golden arches” and “I’m Lovin’ It” slogan of McDonalds, or BMW’s “blue and white crest and “The Ultimate Driving Machine” slogan.
More than just identifying markings, a brand is an assurance of quality. It tells consumers that you have thought about whom you are and what you do, and that you cared enough to invest time in coordinating your appearance to make a good first impression. Think of your brand as your attire on a first date.
The last brand example above, BMW, also demonstrates a brand differentiation strategy; that is, a leadership position within a given industry. The intent of BMW is to tell the marketplace that no other vehicle drives as well as theirs. Another example, Walmart’s differentiation strategy is the “low cost provider” position. Volkl skis occupy the “high cost/high quality” position in the skiing industry. Head tennis rackets differentiated themselves by the physical size of the racket.
When crafting your brand, first consider your differentiation strategy. What are your values? What do you do best? How are you different and unique? What do you do better than anyone else? What are you offering that nobody else can or does?
All of these questions were at the forefront of my mind when establishing Investors United School of Real Estate. Investors United was the first and only school for real estate investing in the country, so that became our differentiation strategy – “America’s 1st and only brick-and-mortar professional school dedicated to real estate investing.” Another unique attribute of Investors United is the fact that instructors are available to partner with students on actual real estate investments for profit; therefore, I established the slogan “Earn while you learn.”
Once your brand is established, be sure to use it as your calling card when advertising in any of the five media: Grass Roots, Print, Radio, Television, or Internet. Always include your Web site on business cards, in ads, announcements, blogs, e-mails, etc. Even better, give people a reason to visit; e.g. “Take your first real estate investing class at no charge. Find out how at InvestorsUnited.com.”
Lead Generation
In addition to establishing who you are and what makes you unique, your Web site needs to generate leads. It’s simple: you want consumers to understand your brand, and then take action by doing business with you. So, like the Godfather said, “Let’s make them an offer they can’t refuse.”
To craft your irresistible offer, consider first “Who is my target market?” and then, “What message (or messages) will appeal to them?” You are not limited to making just one offer on your Web site. Bait several hooks, but be aware that several advertising studies have shown that fewer choices often result in higher results. The ideal number of offers on your home page is three to four. In exchange for contact information, consider offering a free newsletter, a no-charge consultation, a market analysis for no-fee, etc.
Once your branded Web site is up and your offers are made, be sure to track your results. Which offer pulled most? Which pulled least? And always test new strategies. Failures are the most important part of learning. Find out what does not work, in order to enhance your business and your income.
There is much, much more to the concepts we touched upon here. If you would like to tour of my personal library or sit down with me to chat about real estate investing, feel free to reach me through my Web site: www.InvestorsUnited.com.
Ian Charles Parrish is President of Investors United – America’s 1st and only
brick-and-mortar school for real estate investing. “Earn while you learn.”
Good breakdown. I’d put Lead Generation far ahead of Branding, which in some circles, is considered a rapidly declining marketing strategy. A website that can produce good leads is gold, and is much harder to produce than simply putting up a blog. My advice is to hire a professional to design your site. It’ll pay off in the long run.