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The Simplest Yet Most Powerful Note Marketing Technique |
Success in the discounted cash flow business is like any business: it takes skill, training and know-how. It begins with an effective marketing campaign that builds a relationship and trust with potential clients. Building trust, creditability and a relationship helps ensure that your services are considered first, if and when a note holder decides to sell. How do you get a note holder convinced that selling their note could help them out financially and reduce the risk associated with carrying the note? It isn't easy, but one powerful common sense technique can dramatically improve your success rate.
Most note brokers put together a "piece-meal" marketing campaign that is poorly designed, and after a few tries, give-up with very little success. Many note holders are quite content to continue collecting the payments on their note, if they don't really need the cash for anything else - like their kid's tuition, or a summer cottage etc. and more particularly, if the payments keep coming in regularly.
However, as soon as they have experienced the worry that comes with a missed payment or they really would like the cash for something else - you have a potential client. The key to any marketing campaign is to make sure you are the first person they call whenever the note holder decides they may want to sell their note.
Believe it or not, that is very easy to do; you send them valuable information and simply get them to keep everything you send them. How do you get them to keep what you send them? Simple! You tell them to! Then when their circumstances change and they want to sell their note, you will be in the best position to help them.
But obviously you also have to make the information and material you send them valuable enough that they will want to keep it. In fact, it should be so valuable that they use it as a reference whenever they have a question regarding their note. It needs to be easy enough to understand for the layman, but information-packed enough for the professional.
The format of the material you send them can be in the form of a newsletter; each one addressing a specific topic. Or it could be in the form of a manual, such as a "note holders handbook." It could be a "white paper" on how notes are valued in the business, or tips on how to increase its resale value if the holder ever decided to sell. Another example is a list of Frequently Asked Questions, and the their answers.
Each piece of information you send, or offer to send, builds up you creditability as a professional and as an expert in your field. You can use postcards to encourage your potential clients to call you to get the free information. This will ensure that you send it only to those that really want the information. It will also reduce you marketing costs.
You can offer a report on your website for free, as long they agree to subscribe to your monthly newsletter. There are tons of other creative ways to get the information out to potential clients. The key is to make sure the content is high quality, and second, make sure you instruct them to keep it. It is amazing how many people will keep the material if you specifically instruct them to. You can even tell them to attach it directly to the note, or put it their payment record file.
For more information on the note business and a complete marketing campaign with proven success, visit my website at http://dcfturnkey.avintus.com
Article source http://w4rum.com/2555.t
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| [By Kimber Fulcher] [05/May/07] |
