Need to catch up? Go to Day 1.
Some bloggers of 30-day strategies put budget in the first 5 days. Not me. I recognize that you’re taking notes on what you think is best and will pick and choose what you need for your individual business. Now that you have all of my marketing advice, the last 3 days are to put it all together in an organized fashion.
Here’s an example of a yearly marketing budget.
Company to Provide
Cost for Year
Reonomy Lead Generation
Mailer Package (Tenant, Landlord or Investor Rep)
3 Postcards and 3 Sales Letters
Mailing Cost of 3 Postcards to 200 Prospects (VistaPrint, standard postcards)
Mailing Cost of 3 Sales Letters to 200 Prospects (FedEx printing, mailing supplies and postage)
Supplies & Printer
I can’t afford THAT! I know the idea of spending $3,314 on your marketing plan may seem a little out of your budget. However, let’s keep it in perspective.
Average transaction amount
Average commission percentage for a transaction
Your split from the broker
Your average transaction commission
Once you’ve paid for the Mailer Package you won’t have to pay for new ones (until they’re outdated in about 3 years). In order to break-even, your marketing plan only needs to bring in one transaction per year! That’s a great potential return-on-investment.
I’ve mentioned before that I’m anti-credit card. I suggest that you get all of the money up-front, before you begin. Having the total amount available will keep you focused on what needs to be done and will keep you from the age-old, “I’ll send one postcard and see how it goes.” If you have $0 available today, open up a separate savings account with your bank and label it ’Marketing Plan’. Allocate 5-15% of your earnings to that savings account until you have enough.
Don’t like waiting? Buy one thing at a time. Just make sure you write down a schedule and stick to it. Sporadic marketing efforts simply don’t work.