I love marketing...I love it because it is ever changing and now more than ever the face of marketing is in tremendous flux right now. For the moment, I just want to discuss social marketing. This relatively new aspect of marketing is fascinating and it puts many smaller organizations and individuals on an even playing field with even the biggest players.
As real estate professionals, one of the hardest things to do is to be "found." I don't have official research in front of me at the moment, but I know a lot of folks these days turn to the internet to find a home. This is a great advantage in a social networking environment, because these social networks exist on the internet.
Let's be clear about a couple of things. First of all, you are not going to get rich quick on the internet, I don't care what anyone says...it isn't going to happen, so get the idea out of your head. Social marketing takes time, energy, consistency and a plan. If you aren't willing to invest in all of those basic elements, don't waste your time.
The amount of each of the critical elements is totally up to you as well. You don't have to do it every day, you can do it at just about any pace, but make sure you do pace yourself. If your frequency is once a week, then make it a habit. One of the neat things about social marketing is that the credentials you are building by being on line and networking within your industry or specialty is that the conversations and threads lead to the most amazing places and introductions.
I will also tell you this from experience...If your only goal is to get people to do business with you and all you are doing is advertising...go away, please go away. If you don't have some useful advice or something that helps people other than yourself, don't waste your time. Remind yourself why the internet is so popular and prosperous...Information at your fingertips. I am pretty sure that nobody is going to wake up in the morning and say to themselves, "Hey! I need to google Susie Real Estate Investor and see if she can help me out." More than likely someone will wake up and say "Hey, I really need to find a good deal on a lease option because my credit is toast!" That person will probably look for articles or posts about lease options or alternative home buying solutions. When they see your name attached to a HELPFUL article or conversation...you have branding!
The more you post, the more that threads get out there. It doesn't hurt to promote yourself a little, but keep it to a minimum, we all get it, you are an expert and you would like to earn as much business as possible. We make that assumption because you are networking in the first place.
Next, pick a few social media sites after reviewing them for a couple of weeks and monitoring them. Don't just pick one, and don't pick all of them. Like I said, this is a commitment and nothing will happen if you don't nurture your accounts. Local Real Estate Deals makes use of 6 particular sites.
Blogspot... www.LocalRealEstateDeals.Blogspot.com
www.YouTube.com/LocalRealEstateDeals
www.Twitter.com/LocalREDeals
www.facebook.com/localrealestatedeals#/home.php
http://localrealestatedeals.myplaxo.com/
Linked In
Once you find the ones that are the most applicable, get involved...it doesn't do any good to sit on the sideline and not communicate...this is netwworking after all...Join discussions, ask questions, give answers, join groups, form groups...get the most out of it and make connections. Do it to enhance your knowledge and to be helpful...if you are just looking to sell, sell, sell, you are going to find yourself quite alone.
Social marketing is not the end-all, be-all marketing tool. It is an arrow in your quiver and you still need to have a good product and people skills to make it work. It also needs to be implemented just like any other marketing plan. It should be a part of your business plan, whether you have one or not and should be done methodically. You should also have a way to justify the expense (of your time and energy) to keep it going. If you are not getting results, then why would you keep doing it, right? The key is to engage fully for no less than six months to determine if it is worth moving forward. This goes for any marketing for that matter. Most people fail to give their marketing plan enough time to get off the ground. If you are not going to stay with it for six months, then save yourself the hassle and don't get started in the first place.
That's just a birdseye view of my thought process for the moment. Books could be (and probably are being) written about the subject so I am sure I will have more on this later, so check back every so often for updates. Until then, you are more than welcome to follow us on twitter at www.twitter.com/LocalREDeals
Good Luck and God Bless!
Rob
Wednesday, April 29, 2009
Financial Literacy
It has become clear over the past 18 months, if not over the past 30 years that we are becoming less financially literate as time goes on. I say this not to provoke anyone, it is a fact...a sad fact. The truth is that many people believe they are fully financially literate and there in lies the problem.
There are so many aspects of wealth and financial literacy, it is tough to be competent in all areas, but that shouldn't stop us from pushing ahead and learning more. There are many places that we can get an education with regards to financial literacy, that it is almost overwhelming just trying to find the right place.
We can always go to a broker or a licensed agent, but then we might be wondering what the motivation is to give us information. It is always curious that in most cases the advice that we receive leads us right into a product line that suits our "needs." Don't get me wrong, I know we are all trying to make a living out there, but when the only advice we receive, leads us into a product line of the person delivering the pitch, you have to feel compelled to at least get a second opinion.
Then there are the industries that don't even require the marketers, or sales reps to have any sort of licensing requirements. In this case, I am speaking of loan officers. There are many loan officers that are experts out there...you know who you are. But for every expert, there are a dozen or more that don't truly understand how money works and furthermore, how to build wealth. Part of the problem is that good loan officers know how to get a loan through and that is what people come to them for. The mistake most people make is to start asking for financial advice from someone who knows how to get a loan processed. This is not a good approach.
The psychology behind it is certainly solid. Consider that an individual has to go to a loan officer to get a loan and they end up telling their entire financial story as well as many personal details of their life to the loan officer. These become psychological tethering lines to the relationship. Why wouldn't the person ask for financial advice after building a relationship like that? Also, who wants to give all those details again to someone else who would either charge for the advice or try to sell a different financial product?
When you look at the mortgage industry from that perspective, it is easy to see how some people go down the path of bad advice. To be fair, I don't think any loan officers wake up in the morning and say to themselves "I am going to give some bad financial advice today," unfortunately, that is exactly what ends up happening. The path to hell is paved with good intentions, as they say.
But the problem is much bigger than that. There are many people who never even get to the point of home ownership and never learn or even understand what it means to build equity. This is also one of those sad facts. It is sad for many reasons, but the biggest reason in my mind is that this ignorance is handed down from generation to generation. The mindset of these people is supported, encouraged and imprinted into their psyche until the thought of building wealth is never even considered.
Most people have more insurance on their vehicle than they have on their lives. Let's face it, protection is as much a part of building wealth as making money. If I had to guess, I would have to generalize and say that many people consider insurance an unnecessary expense. On the other hand, the wealthy consider it part of their estate and wealth plan.
All I am saying is that there are principles like protection, taxes, assets and liabilities to name a few that many people, too many people, know little to nothing about. I still have a lifetime of learning and I learn something new everyday and I am in this industry. If we commit to making our financial education a lifelong endeavor it doesn't seem so overwhelming. Find an area that you can use some more information on and begin your education. Don't trust one source either, get your information from different sources and don't be afraid to ask clarifying questions. The right adviser will be patient and understanding. Impatience is a sign of ignorance and you should be wary of anyone who handles your questions with impatience.
In all that you do as a real estate professional or investor, encourage and support financial literacy at every opportunity; it's good for everyone.
Thanks and have a great day
Robert D. Cass
There are so many aspects of wealth and financial literacy, it is tough to be competent in all areas, but that shouldn't stop us from pushing ahead and learning more. There are many places that we can get an education with regards to financial literacy, that it is almost overwhelming just trying to find the right place.
We can always go to a broker or a licensed agent, but then we might be wondering what the motivation is to give us information. It is always curious that in most cases the advice that we receive leads us right into a product line that suits our "needs." Don't get me wrong, I know we are all trying to make a living out there, but when the only advice we receive, leads us into a product line of the person delivering the pitch, you have to feel compelled to at least get a second opinion.
Then there are the industries that don't even require the marketers, or sales reps to have any sort of licensing requirements. In this case, I am speaking of loan officers. There are many loan officers that are experts out there...you know who you are. But for every expert, there are a dozen or more that don't truly understand how money works and furthermore, how to build wealth. Part of the problem is that good loan officers know how to get a loan through and that is what people come to them for. The mistake most people make is to start asking for financial advice from someone who knows how to get a loan processed. This is not a good approach.
The psychology behind it is certainly solid. Consider that an individual has to go to a loan officer to get a loan and they end up telling their entire financial story as well as many personal details of their life to the loan officer. These become psychological tethering lines to the relationship. Why wouldn't the person ask for financial advice after building a relationship like that? Also, who wants to give all those details again to someone else who would either charge for the advice or try to sell a different financial product?
When you look at the mortgage industry from that perspective, it is easy to see how some people go down the path of bad advice. To be fair, I don't think any loan officers wake up in the morning and say to themselves "I am going to give some bad financial advice today," unfortunately, that is exactly what ends up happening. The path to hell is paved with good intentions, as they say.
But the problem is much bigger than that. There are many people who never even get to the point of home ownership and never learn or even understand what it means to build equity. This is also one of those sad facts. It is sad for many reasons, but the biggest reason in my mind is that this ignorance is handed down from generation to generation. The mindset of these people is supported, encouraged and imprinted into their psyche until the thought of building wealth is never even considered.
Most people have more insurance on their vehicle than they have on their lives. Let's face it, protection is as much a part of building wealth as making money. If I had to guess, I would have to generalize and say that many people consider insurance an unnecessary expense. On the other hand, the wealthy consider it part of their estate and wealth plan.
All I am saying is that there are principles like protection, taxes, assets and liabilities to name a few that many people, too many people, know little to nothing about. I still have a lifetime of learning and I learn something new everyday and I am in this industry. If we commit to making our financial education a lifelong endeavor it doesn't seem so overwhelming. Find an area that you can use some more information on and begin your education. Don't trust one source either, get your information from different sources and don't be afraid to ask clarifying questions. The right adviser will be patient and understanding. Impatience is a sign of ignorance and you should be wary of anyone who handles your questions with impatience.
In all that you do as a real estate professional or investor, encourage and support financial literacy at every opportunity; it's good for everyone.
Thanks and have a great day
Robert D. Cass
Tuesday, April 28, 2009
1000% ROI Guarantee? You betcha!
You know, I have never been one to accept the status-quo. In fact, it is in my blood to buck the system, not for the sake of it, but rather to see if we can do things better, faster, stronger...kind of like the 6 Million Dollar Man...I digress.
It has occurred to me, as many things do, that the advertising industry doesn't play by the same rules the rest of the world plays by. We have been conditioned to believe that the number of eyeballs is the most important number when it comes to advertising, but I couldn't disagree more...the most important number is the return I get on my advertising investment because it relates to my bottom line. Why advertisers don't get that is a mystery to me.
I know that when I am prepared to spend money on an advertising campaign it is with the goal of making money, specifically, PROFIT! My metric is, and always has been, a 1000% return on my investment or else I don't advertise with that company again. What that means is that for every dollar I spend, I want to see $10 come back to me. There are those that believe there is no such thing as a 1000% return on their investment and that is fine with me...we have a tendency to create our own reality and if you don't believe it is possible, then it probably isn't.
It has been done on a regular basis for decades for those who understand marketing. I read a book a few years ago by Mark Stevens titled, Your Marketing Sucks. The main thing that I got out of that book is that if you can't track your revenues back to marketing or vice versa, then your marketing sucks.
I have embraced that concept and have challenged advertisers and advertising companies for years with that one simple concept and I am appalled at the apparent lack of concern for my bottom line. It is as if it is their right to take our hard earned money and spend it in a way that is completely unaccountable! It is insanity!
So, here I am in the position of having a media suite of real estate investor products called Local Real Estate Deals. I can take the stance of my predecessors and competitors and put the burden on my advertisers, OR I can work with them as an extension of their Marketing and P.R. departments to increase their bottom line. It isn't as profitable in the beginning, but it just seems like the right thing to do.
We have decided to take a very proactive stance on advertising in our media group and offer a 1000% Return on your Advertising Dollar! How's that for confidence in our own product? We will keep your advertisements "live" until we can quantify a 1000% guarantee...PERIOD! In order to do that, we need to understand your business in a way that most advertising sales reps never will. We need to understand the metrics of your business in a way that will allow us to create a trackable system and measure your ROI. It's amazing sometimes to learn that as we go through this with our clients, they are amazed at how much money they have wasted by NOT tracking their advertising options. In this way, we feel like consultants, and technically we are. But going through this exercise puts everybody on the same page. It's what I have done ever since I started buying advertising and now that I have created an advertising product suite, it is time for me to show our advertisers how to quantify their advertising so that their marketing doesn't suck.
So there it is...The first official 1000% ROI Guarantee! I know we won't be making friends with our competitors, but that isn't my goal...Maybe you should ask them if they will guarantee a 1000% ROI...the answers will be interesting.
Give us a call to see how we can work together
Robert D. Cass
Publisher, Local Real Estate Deals Media Group
757-729-3124
It has occurred to me, as many things do, that the advertising industry doesn't play by the same rules the rest of the world plays by. We have been conditioned to believe that the number of eyeballs is the most important number when it comes to advertising, but I couldn't disagree more...the most important number is the return I get on my advertising investment because it relates to my bottom line. Why advertisers don't get that is a mystery to me.
I know that when I am prepared to spend money on an advertising campaign it is with the goal of making money, specifically, PROFIT! My metric is, and always has been, a 1000% return on my investment or else I don't advertise with that company again. What that means is that for every dollar I spend, I want to see $10 come back to me. There are those that believe there is no such thing as a 1000% return on their investment and that is fine with me...we have a tendency to create our own reality and if you don't believe it is possible, then it probably isn't.
It has been done on a regular basis for decades for those who understand marketing. I read a book a few years ago by Mark Stevens titled, Your Marketing Sucks. The main thing that I got out of that book is that if you can't track your revenues back to marketing or vice versa, then your marketing sucks.
I have embraced that concept and have challenged advertisers and advertising companies for years with that one simple concept and I am appalled at the apparent lack of concern for my bottom line. It is as if it is their right to take our hard earned money and spend it in a way that is completely unaccountable! It is insanity!
So, here I am in the position of having a media suite of real estate investor products called Local Real Estate Deals. I can take the stance of my predecessors and competitors and put the burden on my advertisers, OR I can work with them as an extension of their Marketing and P.R. departments to increase their bottom line. It isn't as profitable in the beginning, but it just seems like the right thing to do.
We have decided to take a very proactive stance on advertising in our media group and offer a 1000% Return on your Advertising Dollar! How's that for confidence in our own product? We will keep your advertisements "live" until we can quantify a 1000% guarantee...PERIOD! In order to do that, we need to understand your business in a way that most advertising sales reps never will. We need to understand the metrics of your business in a way that will allow us to create a trackable system and measure your ROI. It's amazing sometimes to learn that as we go through this with our clients, they are amazed at how much money they have wasted by NOT tracking their advertising options. In this way, we feel like consultants, and technically we are. But going through this exercise puts everybody on the same page. It's what I have done ever since I started buying advertising and now that I have created an advertising product suite, it is time for me to show our advertisers how to quantify their advertising so that their marketing doesn't suck.
So there it is...The first official 1000% ROI Guarantee! I know we won't be making friends with our competitors, but that isn't my goal...Maybe you should ask them if they will guarantee a 1000% ROI...the answers will be interesting.
Give us a call to see how we can work together
Robert D. Cass
Publisher, Local Real Estate Deals Media Group
757-729-3124
Monday, April 27, 2009
Social Capitalism (Real Estate Investor Style)
It occurred to me that some of the best and most successful capitalists have had a "social capitalism" frame of reference. Consider that Henry Ford found a way to increase transportation and thus helped the economy as well as himself and countless other industries. All of this because he solved a social problem; hence he was a "social capitalist."
I believe in capitalism, it is not a perfect idea, but it is an ever evolving idea and I like the way that it is trending right now. The trend is to consciously engage in social capitalism, that is to say that to engage in capitalism in a way that solves social problems. Consciously is one of the key words here. Sometimes products or services pop up that were solely created to drive revenues and that is not necessarily bad, but let's just get into the mindset that we can solve massive issues and capitalize from them individually and socially.
If you are reading this blog, then you are probably involved in real estate in some form or fashion. There is a social condition that I think warrants a product or service and that is the social disease....yes, I said it DISEASE! of perpetual renters. Now, I am not saying it is bad to rent, there is certainly a time and a place for it, but when it becomes a permanent solution, then it becomes a disease because those involved are not putting themselves in a better financial situation.
As part of the responsible real estate community, I think that we can all capitalize on the fact that there are 54 million renters out there and the "problem" isn't going to go away anytime soon. But we can tailor our efforts to minimize the negative effects of this "rental disease" by putting good deals together and offering home ownership at some point maybe in the way of a Lease Option, Seller Financing, or Land Contracts.
I am not kidding myself. I know that simply offering lease options is not going to change the mindset of millions of people, however, if we pool our resources and make a serious and sustained attempt, we can all contribute to the collective education of renters, because in my opinion, it is a lack of education and discipline that people fall into a rental abyss.
Let's face it, we are in an industry where we have the ability to help people. This is something that we should all be proud of because we have the opportunity to make a great income while helping others and THAT is what Social Capitalism is all about!
Now go get 'em!
Rob
I believe in capitalism, it is not a perfect idea, but it is an ever evolving idea and I like the way that it is trending right now. The trend is to consciously engage in social capitalism, that is to say that to engage in capitalism in a way that solves social problems. Consciously is one of the key words here. Sometimes products or services pop up that were solely created to drive revenues and that is not necessarily bad, but let's just get into the mindset that we can solve massive issues and capitalize from them individually and socially.
If you are reading this blog, then you are probably involved in real estate in some form or fashion. There is a social condition that I think warrants a product or service and that is the social disease....yes, I said it DISEASE! of perpetual renters. Now, I am not saying it is bad to rent, there is certainly a time and a place for it, but when it becomes a permanent solution, then it becomes a disease because those involved are not putting themselves in a better financial situation.
As part of the responsible real estate community, I think that we can all capitalize on the fact that there are 54 million renters out there and the "problem" isn't going to go away anytime soon. But we can tailor our efforts to minimize the negative effects of this "rental disease" by putting good deals together and offering home ownership at some point maybe in the way of a Lease Option, Seller Financing, or Land Contracts.
I am not kidding myself. I know that simply offering lease options is not going to change the mindset of millions of people, however, if we pool our resources and make a serious and sustained attempt, we can all contribute to the collective education of renters, because in my opinion, it is a lack of education and discipline that people fall into a rental abyss.
Let's face it, we are in an industry where we have the ability to help people. This is something that we should all be proud of because we have the opportunity to make a great income while helping others and THAT is what Social Capitalism is all about!
Now go get 'em!
Rob
Sunday, April 26, 2009
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New Edition of Magazine
If you look to the right, you will see a copy of our new magazine that features Miss Kendra Todd who gained fame as the first female winner of Donald Trump's Reality TV Series, The Apprentice. Miss Todd has been very busy since the days of The Apprentice and it was absolutely refreshing to catch up with a rising star who still has her wits about her.
Read all about it online at
Read all about it online at
http://viewer.zmags.com/publication/b1bad9f9#/b1bad9f9/1
Enjoy!
Robert D. Cass
Saturday, April 25, 2009
Eco-Brokers
I have had the pleasure recently of making contact with an Eco-Broker out of DC. His name is Mike from Green DC Realty (www.GreenDCRealty.com) so we have been having an ongoing conversation about the market, and the green industry as well as different techniques that real estate professionals are employing to stay in the game.
The more I get to speak to Mike, the more I am impressed with the level of professionalism and commitment by the best of the best. I do not know what his client base looks like or how many houses he has sold in the past or even the present. Here is what I know, though…the guy is a consummate professional and is working in ways that are inspiring to me. I consider myself a very fortunate individual in that I get to meet and rub elbows with the best of the best and this is no exception. Mike is involved, to say the least.
After looking over the Green DC Realty website, I began to realize that he is not just a Realtor…this guy is totally committed to the industry, both the real estate industry and the green industry. He is doing everything right, from writing articles, meeting with developers and getting involved in new ideas and building projects. Most of those things are not income producing activities, but in my mind, it shows that he is totally involved in the market. Here we are in a downturn right now and this guy is absolutely thriving! And by the way, he isn’t just doing these things to build his credentials; he is doing it to make a difference. I am always impressed with people that go the extra mile to make an impact. It isn’t always the most financially rewarding path, but it is the most admirable.
What I eventually came to realize, is that it is his mindset that sets him apart. This is not a 9-5 kind of guy. He eats, sleeps and breathes this stuff…What other way is there to be? I can’t imagine being new to the industry and having to compete with guys like that, because they operate at a whole different level. Amateurs can’t hold a candle to these people like him. The down turn in the economy and the real estate industry is similar to the dot-com bust a few years ago. It used to be that there was a computer store on every corner, and a new technology start-up in between. But when things turned south, the herd was thinned quickly and only the strongest survived. It isn’t so different now. The best are getting better and the weak are going away. Michael and his team will be around a long time because of their attention the industry and their genuine concern for the environment as well as their client base. Kudos Michael….Keep up the great work. If you are looking for an expert in Green Real Estate go to www.GreenDCRealty.com and contact Mike.
Rob
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