The Goliath Sourcing Academy is the podcast for everyone who is into property investing. Listen to Mark Dunsmore as he talks about a variety of different property sourcing related strategies, tactics, hints and tips. We go deep into various innovative and advanced strategies for sourcing better and more property deals.
Property deal sourcing can be overwhelming. Weeks can seemingly fly by with very little to show from your efforts. It’s easy to get distracted with mundane low income generating tasks. The key to successful sourcing is managing your diary and ensuring you stay focused on the tasks that will generate you results and income. Mark shows you step by step how to do this.
Ever wondered why or how other property sourcers are getting more leads than you are? Sure, some will be sending out more marketing but the really smart ones just get a better response and more leads from the marketing they’re already doing. Brad shows you how you can use some very simple copywriting techniques to achieve much better results from your property deal marketing and lead generation efforts.
Get the free resources mentioned in this show at http://goliathsourcingacademy.com/session8
“Sourcing With Mark” – Pre-populated Sourcer’s Diary
“In The Lab With Brad” – Property Sourcers Copywriting Checklist
Download at http://goliathsourcingacademy.com/session8
Property deal sourcing can be overwhelming. Weeks can seemingly fly by with very little to show from your efforts. It’s easy to get distracted with mundane low income generating tasks. The key to successful sourcing is managing your diary and ensuring you stay focused on the tasks that will generate you results and income. Mark shows you step by step how to do this. You’ll learn:
Ever wondered why or how other property sourcers are getting more leads than you are? Sure, some will be sending out more marketing but the really smart ones just get a better response and more leads from the marketing they’re already doing. Brad shows you how you can use some very simple copywriting techniques to achieve much better results from your property deal marketing and lead generation efforts. You’ll learn:
To follow is the transcript of the Facebook Q&A, Sourcing With Mark and In The Lab With Brad.
Mark: This week’s Q&A as we do in every podcast, we take a question from the Facebook group, from the public Facebook group and we answer it in the show. If you aren’t already a member of the Facebook group, get along to it, it’s Goliath Sourcing Academy, and if you have a look on Facebook, we will accept you in, welcome you in with open arms. But this week’s question is from Andrew Whitehead, like we said and it is, “What is the best to use the internet to source properties? I’ve heard a lot about Google or Facebook accounts, but what phrases work or what ways are the most conducive to getting leads?” Now, Brad and I had a quick chat about this, didn’t we? Before coming on and wanted to–We’re going to go into the answers about Facebook and Google ad and I’ll say a bit about another online generating, another online way using the internet source properties, which is a good one. But what we were talking about, was my time before I met Brad where I was experimenting with Google ad words and Facebook ads. I was doing things and I felt like I was doing things. I thought I was way ahead of the curve in terms of internet marketing, not just property, and then after speaking with Brad, I realized just how far behind the curve I was, in terms of internet marketing, not necessarily property. And what I realized is is if I’ve gone full guns blazing like I know now, I could’ve ended up spending a lot of money for very little in the way of return. That’s what we’re talking about, wasn’t it Brad?
Brad: Yeah, yeah.
Mark: So what we wanted to get across really is, is make sure that get in to Facebook and Google ads. We’re big fans of it. That’s what we heavily rely on for our lead generation but just be careful. Seek the right advice and Brad’s topic this week is great for the copywriting for Facebook accounts and getting the right message to get the right results and because a bad Facebook account will get you leads, that’ll just be rubbish. So you’ll get people that phone you wanting full value because they don’t want to settle for any less. There’s no opportunity for lease options or rent-to-rent, and you can spend a lot of money and a lot of time dealing with very poor leads, just off the back of bad copying and bad messaging so. And I just wanted to get that warning in beforehand and before Brad obviously goes into the magical capabilities of what it does positively.
Brad: Yeah, I suppose–it’s such a huge topic, isn’t it? I get asked the question a lot, how come I generate leads with Facebook? How can I generate leads with Google ads? It’s like they are such powerhouses of lead generation as a platform that you need to dedicate quite a lot of time and focus and commitment to each platform to get the most out of it. But I would say, it’s like, “Where do you start?” Which platform are you going to choose? Which one is right?
So, I would say when would you choose Google ads? If you think about Google ads as being– people go on to Google essentially to get a question answered. They’ve got a question in their head, they’ve got a query and they go on to Google to get an answer to it. So they’ve got an itch and they need it scratched and they go to Google to go and get that itch scratched. You need to start by thinking more of what type of– People are using keywords on Google, so what types of keywords might they be using to search? Let’s say you’re looking for rent-to-rent deals. Google would be a great place to go and find landlords that are searching for guaranteed rent schemes, for example. So then Google becomes a great platform for that. It’s a source lead for a rent-to-rent strategy, for example. You can go to Google to find leads for–BMV leads, but you’re gonna be competing with the big boys. The big boys are bidding on keywords like ‘sell my house fast’ and all those types of keywords, and Google ad words is a very unforgiving place. It can rinse your wallet or your purse pretty quickly; particularly, if you’re spending anything between 5 and 25 pounds per click, which you will do on some of those ‘buy my house fast’, ‘buy my house for cash’ all those types of keywords. You have to be a little bit wary of that.
Where I would consider, that’s where Facebook comes in. Facebook is a lot less forgiving. Sorry, it’s a lot more forgiving, I should say, not less. It’s a lot more forgiving. The click costs are lower, but people aren’t going on to Facebook to go and scratch that itch; they’re going on to Facebook because they want to be social, they want to talk to their friends, they want to see what other people are doing, they want to consume some content from things that they like. They’re not necessarily going on there to find out how fast they can sell their house or how to solve their void period problems if they were a landlord. So they way that you approach Facebook is you’re gonna have to try and find the right audiences and put the right message in front of them and when those two things come together, that’s when you’re gonna start having success and you’re gonna need to essentially, get that prospect to give you their email address for a valuable piece of information, and then you’re gonna need to put them on an email list and then you’re gonna need to build a relationship with them via email until they’re ready to take an action, which is essentially to contact you. I could go on and on and on but that’s the toppest level that I think we could do in a podcast. Does that make sense, Mark?
Mark: It does. It’s perfect and I know that it is a massive–we say it, but it is such a huge huge topic that we could create a full course just on that, couldn’t we?
Brad: Which we will do. I think–we will, we will. But we’ve got a lot of testing to do as well, haven’t we? We’ve got a lot of stuff that we need to achieve with it before we feel as though we can put it out there and really put out our name and the Goliath brand behind it. So it will come but it’s just going to take a little bit of time to put it out there but if anybody’s got any questions, get into that Facebook group, I’m all over; I love those kind of questions. I’ll give you detailed answers where I possibly can and even do some screen grabs and all that types of stuff for you if you really want to know some details, I’m more than happy to do that.
Brad: You were gonna talk a little bit about private ads, weren’t you?
Mark: Yes. We have this big thing about Facebook and Google ads but actually, I go into it and in Sourcing with Mark, but also just focus on stuff that you can get access to very quickly online and one of them is private ads, so use online, use the internet to find people’s contact numbers and phone them directly. The days of emailing and waiting for a response and then getting backwards and forwards then ringing, I think are numbered. Some people are still getting results from it. Personally, it’s too slow for me. I would rather just ring them, get a result fast and move forward. Once you’re dabbling with Facebook and Google ads and getting that lead machine working, don’t forget the old school internet ways of literally just finding the details online and picking up the phone and ringing them because that is one of the best ways to source properties online, is to just pick up that phone and ring people. It is a marketing job but it is also a sales job, so you are gonna need to pick up that phone if you want to get the best results.
Brad: Fantastic. Andrew, thank you for that question. You lit a fire under that answer, didn’t you?
Mark: Yes. Well, that’s so true. [laughter]
Brad: Yeah. So thank you for that. I really appreciate it and hopefully, we can carry on a bit of this conversation on the Facebook group as well. So if you got any questions related to what we just talked about, if you agree with us, disagree with us, get on the Facebook group and let’s carry on that conversation.
Mark: So in this session, session 8, we’re going to run in to Diary Management for sourcing- the easy way or the hard way. Now, in one of the other sessions, Brad went into time management, diary management, and being more efficient. What I wanted to do was develop on that slightly in making it more specific to those of you out there who are sourcing for yourselves, but mainly those that are sourcing to package and sell deals for a fee.
The reason I wanted to release this sourcing with Mark this week, is I’ve been asked a lot about how to organize time better, and they just feel like they’re doing a lot of activity but not getting much in the way of results. And quite often, the reason for that is that sourcing can be very overwhelming. Just by their very nature that we have a course called Twenty Ways to Source Property Deals and by no means is that an exhaustive list of all the different ways that you can source property. So, just having 20 can be overwhelming; let alone 30, 40 different ways of sourcing those deals. So what that means is that you can end up doing a lot of very little, if that makes sense. What I mean by that is that you can do a lot of different activities, you can spread yourself incredibly thin, and then the problem is that you don’t get the results, so what happens is you don’t get the results, you move on to a different way, then on to a different way, then on to a different way.
Actually, when you want to successfully source, you are going to have to be disciplined, you’re going to have to remained confident that your marketing will get you results; that’s what we’re here to help in the Facebook group, on the podcast questions, we want to help you focus and succeed. You need to be dedicated to a path, you need to be disciplined, you need to focus entirely on what you want to do. What this means is that by getting distracted, the weeks can absolutely fly by, and you haven’t generated anything, you haven’t put any leads into the pipe line, you haven’t got any offer letters out. And obviously, there’s loads of things that will distract you such as Rightmove searches or going out and touring your local area, board spotting, but if you’re not doing income generating activity, then it’s all for nothing, you’re just gonna end up wasting a lot of time. What I’m going to do today is just quickly run through how it works for us, how we develop our sources and our network, and also our own members of staff, and obviously, you can use this as you wish. And the download, the download that accompany sourcing with Mark this week is two different diaries; one for the 9-5, so those of you that are working full time, there’s a diary where I have put in some sourcing activities on an evening that you can do to start building up those pipe lines and then I’ve also got one where those of you that may be able to do a bit more full time, so you can use those. You can play around with those as you wish but it gives you a bit of a foundation to work from.
Now, the key to the successful diary management is to make sure that you are focused for specific allocations of time. One of the things that is in the diaries, for example, is cold calling. Now, in order to cold call, the best thing you’re going to need to do initially is build a list, so you’re gonna have to build a list of numbers to cold call and the best way to cold call is to literally fire off 10, 20, 30, 50 calls in an hour, one after the other, bang, bang, bang, bang, bang. Because what you’ll find is that the first couple, you’ll be nervous, you’ll not know what to say, you’ll be fluffing around a little bit, but as you start to develop more experience, more confidence, as those calls go through, and it’s amazing how different it is from call 1 to call 10, you just need to put those calls into an hour and you will find a lot more confident in your own knowledge, you’re picking up, always make sure you’re picking up things off people that you’ve just spoken to in order to take that into the next call. So if you have a bad a call, we all have them where someone trips you up, you know for a fact that if the next call asks you a question, you can research already and find out what the answers are in order to crack on with the calls. So, don’t be nervous, take each learning from each call, move into the next one and you will improve, and you need to be disciplined. If you’re gonna set aside an hour for cold calling, set aside that hour and cold call in that hour. Don’t waste time looking at property details, don’t waste time browsing the internet, going on Facebook; dedicate that hour, switch everything off and just focus for an hour on cold calling.
Same thing with getting letters out. You’re going to list bills; what this doesn’t do is take into account outsourcing. For those of you that are just beginners, you really want to be doing every part of this process yourself first before you outsource. The reason being it’s much easier to tell someone what you want them to do having had done it, as opposed to just trying to just tell them off the back of theory. When you are building up the list for your direct mail, again when you’re data scraping you want to laser-focus for an hour, get as many addresses as you can, so portal scraping, going on to private ads, for example; get as many lists as you can in an hour and then get those letters out in the hour afterwards. So dedicate an hour for data scraping, an hour to get the letters out, and then leave it. That’s it. That’s two hours of your week that you’ve just managed to get however many letters you could get out for that week. That is going to get your word out there to the people that are selling their houses, and then of course, when they come back, that is where you start generating income. So that is what I would consider an income generating activity.
You want to make sure that those are the tasks that you’re spending the most time on. But also with diary management, what you also want to ensure that you’re doing, is that you’re not going over the top with this and you’re getting bored, or you’re not liking what you’re doing because then it just defeats the purpose of what we’re doing this for. We’re doing this because we enjoy property, we want to package deals for healthy fees. Just make sure that you’re factoring in time into that diary, for family time so I’ve got family time factored in to our diary; that does get sacrificed sometimes but I try and keep that as strict as I can. Also, things like factoring in time for food, so meal times; sounds really silly, but the point is if you got it factored into your diary and you get into that routine, you will make sure that you’re eating breakfast, lunch, dinner, et cetera. I suppose in conclusion to all of this, diary management is incredibly important if you want to successfully source property.
Property sourcing has got so many different variables that you will get distracted. I am sure a lot of the listeners out there will have gone on to Rightmove with a view to maybe picking up a few details of properties and then find that 3 hours later, they’re still on Rightmove, they can’t believe 3 hours of their life’s gone and the day has been wasted. So make sure that you set yourself timeslots for doing each activity, make sure that you set yourself timeslots to just enjoy your breaks as well, so make sure you have breaks, make sure you have slots to maybe go and do viewings, and have that strict in your diary as well. You can phone an agent up and say, “Well, I do viewings on a Wednesday and a Friday” and stick to that. If the agent has not got slots on a Wednesday or Friday, then you’re gonna view the next week or the next week. Remember, we’re not looking to go in there and offer full-asking price. If someone comes along and offers full-asking price, then it’s not a deal for us anyway; so you don’t need to worry too much about that. But you want to be disciplined in focusing that same time on doing those activities. Like I say, just enjoy it, make sure you’re focused, and get it written down because it’s much easier to write things down and visualize a diary than it is to just imagine that you want to do it; you need to put it down on paper or on an online diary. I use Google apps, so I use a Google calendar for all our diary. And like I say, the free giveaway this week is 2 diaries; one of them is for those of you that work 9-5 and the other one is for those of you that are looking to commit a lot more fulltime. Hopefully, you enjoy that, stick to your diary management and sourcing becomes a much easier thing to do.
Brad: Hi, and welcome to this episode In the Lab with Brad, Copywriting 101- How To Make Your Property Marketing Irresistible To Sellers and Landlords. Now, I’ve mentioned previously that when I got started out in property, I was struck by the lack of marketing sophistication that there was within in the industry. Now, you’ll often hear people talking about property sourcing as being as much a marketing business as it is a property business and it’s very true. All deal starts out as a lead. There are no deals without leads; it’s as simple as that. So stands to reason, that’s why sharpening up your marketing chops will bring you more success. In property sourcing, or for that matter any business, there are certain levers that you can control. If you can do things in your business to influence these levers upwards, your business will grow. One of the key levers for property sourcing business is the lead conversion rate. This is the rate by which we convert, for example, a direct mail piece, a Facebook ad, a message to a landlord in Gumtree into an actual lead, i.e., when that person actually makes some form of contact with you and shows interest in what it is that you’ve got to offer. By increasing this conversion figure, we can generate more leads with the same marketing spend and therefore, get a much greater return on investment or ROI.
Let’s illustrate with some simple numbers here. Let’s say that you send out 100 letters at a cost of 100 pounds, and let’s say that you get 5 people contacting you, that’s 5 leads. That’s a 5% conversion rate. Now, if you increase the conversion rate to 10%, you’ll obviously now get 10 people contacting you, so that’s 10 leads. Both have cost the same amount to mail, i.e., the 100 pounds, but you’ve now doubled the number of leads that you’ve received from that campaign. Now, if you convert your leads to deals at a rate of 20%, then you’ve also doubled the number of deals that you’ve done. So that’s still a 100 pounds spend but double the leads and double the deals and a much greater return on your investment of that original 100 pounds.
So it begs the question, how do you increase your lead-generation conversion rate? That’s where copywriting comes in. Great copywriting and copywriting practices can do wonders for your business. Now in Goliath, I’ve been experimenting with the copy in a lot of our direct mail campaigns and the results have been really good. I wanted to share with you some of the basic copywriting tips and practices that I’ve been using that you can quite easily implement in your own lead generation campaigns. Now before I get going, let’s attempt to define copywriting as I think a lot of people get it confused with general writing content. General copywriting writing content is about offering free information on websites, on blog posts, that type, on podcast, on emails. Yes, it’s meant to drive people prospects to do business with you in some shape or form but it’s not strictly speaking, what I would call copywriting; whereas, actually copywriting itself, is the process of getting a reader to take a specific action. In the case of a property sourcer, that would be either a landlord or a seller actually contacting you. We can have copywriting on things like leaflets, direct mail letters, Facebook ads, classified ads, emails, whatever media your using that you’re looking to try and drive a response from a prospect base, be it a seller, landlord, et cetera.
Hopefully, that clears things up a little bit. Now, let’s look briefly at what I consider to be the 6 key copywriting methods and practices that most relate to property sourcing businesses. First off, a strong headline. Think about what do you do when you flick through a newspaper or a magazine? You make a decision on whether to read one of the articles in that publication based on the headline. Now, the headline is the most important element on any lead generation piece. A great headline should draw in the prospect and want them to read on and consume more of the information that you’re trying to communicate to them.
Secondly, testimonials. The opinions of people, landlords, and sellers that have previously used your service is what really matters to your new prospect, to the new seller or the new landlord. They want to hear from someone just like them who’ve experienced what it is that you have to offer. A testimonial offers them credible, convincing, and honest evidence about your service. That’s way more powerful than you trying to convince them of how good you are.
Thirdly, personalization. Isn’t it bizarre that when we start to write for a website or some kind of marketing material or an email, we seem to turn into some sort of machine that’s being created in the basement of a corporate multinational. We become more stiff and uncomfortably proper in the way that we write. Now, that’s not the way to engage with someone. People do business with people, not panic company entities, so write like you’re actually having a conversation with someone. Keep your sentences short and relatively informal. Don’t use unnecessarily long words, and try to say what you want to say, and don’t add padding unnecessarily.
Number 4, bullets, lists and good line spacings. People are busy. Their minds are consumed with all sorts of stuff, so you need to make it as easy as possible for them to read and process what you’re trying to communicate. That means keeping the copy on the page, keeping a copy on your postcard, on your direct mail, on your Facebook, keeping it in list form using things like bullets, keeping the text broken up, don’t use big clumps of text. Use some decent line spacings, keep things relatively short, you want sentences to be relatively short but you also want the information presented in not very long lines, in relatively short lines. Just keep that in mind as you go about writing your marketing pieces.
Number 5, benefits over features. This is a very popular copywriting method if you like. People are motivated by their own self-interests. Now, that’s a fact. So when you start your marketing piece by launching into what you can offer, either features and how great you are, the person, the recipient will just turn off within a split second; your message will struggle to get through. However, by highlighting to the reader the benefit to their life of what you can offer, you’ll be able to cut through and engage with them much more successfully. My favorite example of a feature turned into a benefit is one which involves McDonalds actually. The feature of McDonalds is that you have a drive-through windows at McDonalds. So what’s the benefit of that? The benefit is that you can get a tasty hot breakfast fast on the way to work without getting out of your car. That’s a perfect example of a feature turned into a benefit.
Number 6 and finally, a clear and strong call to action. The objective of the call to action is to get the reader to take the action you want them to take. Your success rate and your response rate will increase when you tell the reader exactly what to do next. For example, how to contact you, what ways they can contact you, what will happen when they contact you, why they should contact you, and so on. You need to be as specific as you can in your call to action and that will increase your response. So there they are, the 6 key copywriting practices, I believe you should consider and use for your next lead generation campaign. None of them require you to spend the next 6 months studying the craft of copywriting. I’ve specifically chosen ones that are relatively easy to implement and that you can use with little to no further preparation or research. I’ve put together a list of all the key copywriting practices and methods a property sourcer should know if they want to power up their lead generation activity, which I hope you do. There are 12 in total so you can go get them at goliathsourcingacademy.com/session8