Presentation on theme: "Relationship Marketing. Marketing…Marketing…Marketi ng Consistent Marketing Message for Properties in Target Market (s) Consistent Marketing Strategy."— Presentation transcript:
Marketing…Marketing…Marketi ng Consistent Marketing Message for Properties in Target Market (s) Consistent Marketing Strategy of Yourself aka… Networking and Building Relationships Marketing of Property Opportunity aka… Property Package Marketing for Potential Buyers aka.. Wholesale Opportunities
A Relationship is NOT Something that You Pursue…Its What Happens to You When You Are Immersed in Serving the Dreams of Others! - Tom Peters
Credibility Portfolio YOU Executive Summary Resume / Bio Investment Criteria Sample Property Package Confidentiality Agreement Vision / Mission Key Strategies and Goals Educational Experiences
It Really all Boils Down to One Simple Element… Those Who Really Care and Those Who Really Dont! -Dan Zadra
Relationship Marketing Relationship Marketing F amily O ccupation R ecreation M oney
Relationships ARE Everything! Relationships ARE Everything! Imagine what your life would look like if you had the ability to fulfill all your life dreams - with no effort at all. Honestly, ask yourself: Do you live your full potential? Do you really enjoy your work? Do you live in abundance & prosperity? Do you enjoy your relationships? Do you have confidence in yourself? Are you happy without reason?
Reveal your personal talents, strength and potential with five unique exercises. Experience in every moment the excitement that you are the creator in your life. Free and expand your attention, and how focusing helps you make crystal clear decisions in life. Enhance your imagination with powerful visualization methods that will help you see every goal or dream you have like it already happened.
Attract abundance and prosperity in your life by following a profound secret most millionaires are using every day. The Law of Attraction Learn quickly and efficient from any situation in your life. See the beauty in any situation and ask, What may I learn from this opportunity being presented to me! Rely and focus on yourself instead on slowing economy and controlling government.
Replace beliefs that limit you with beliefs that support your goals. Act in any life situation with extreme self confidence. Use the law of attraction to take full responsibility in your life and to create the lifestyle you always wanted. Reach any goal in your life without ever giving up by discovering the power of your intention
"Begin with the end in mind." ~ Steven Covey Specific Target MARKET Research Of All the Market Research Search You Will Do What Do You Feel Is the most important if you could ONLY Choose 1 Criteria! Nuture MARKETING ~ to a SCRUBBED LIST! TOUCH/CONTACT MARKETING MARKET for the Team You Will Build in Each & Every Market You Intend to Acquire MARKET to Keep Properties Occupied & Fill Vacancies If You Decide to Sell, You MUST MARKET to the Proper Audience of Potential Purchasers
Identify Your Market Narrow your focus. Identify your market carefully. Probe and profile for insights into your top potential markets and obvious prospects. "The nurtured seed produces the abundant harvest. -anonymous
Nuture Marketing "As ye sow, so shall ye reap!" ~ Galatians Nurturing as a term describes the experience your customers have at all their points of contact with you. Relationships are usually measured and defined by the perceived value of the quality and quantity of contact between the parties. Work backwards from the vision of your goal. Ask yourself… Who is My Target Market? This is NOT about you and what you want so… find out what they want and personalize everything you do! Give them exactly what they want. What are the challenges they face? What bothers /pains them? Go the Extra Mile? C A R E "I am not my target market." ~ Jim Cecil "Which of my best prospects are underserved by others? What is the competition doing. Whatever it is … Go or Do the exact opposite!!!
Top Of Mind Always Remember the goal of positioning is to create and occupy a space inside your customer's mind. You want to occupy the top most part of that space. Decide which marketing position and upon whose mind you would most like to occupy: Are you going to deliver sales pitch-based marketing, in which you take on the role of a salesperson with a specific agenda to sell and just deliver a sales message; or Are you going to educate with Knowledge-Based Marketing where you assume the role of an alliance, positioning yourself as a resource, not just a commodity vendor. In that second role, you educate prospective clients about problems and offer innovative solutions. Power of Positioning breathes life into all your communications with customers There is a vast and noticeable difference between merely being SERVED and the EXPERIENCE of being nurtured.
Market For the Team You Will Build Do unto others as you would like done unto you! Help prospective team members know what YOU expect and how to value your product or service by placing it in some sort of comparative context with your competition. Teach people to Nurture by Nurturing them. Your team will usually be about as nice to your customers as you are to your team and your employees. Satisfied and well-nurtured people are most ready and motivated to serve clients well and to create an experience of preference.
The Power of Identifying "My green thumb came only as a result of the mistakes I made while learning to see things from the plant's point of view." ~ H. Fred Ale While there may be 6 billion people on the planet, you probably only need to influence your top 20% at the most. They must be influenced knowledgeably, respectfully, innovatively and persistently. Be creative in developing new nurturing approaches to investor challenges. The very survival of a business often depends on your ability to enhance and sustain contact with the people that make up your loyal customer relationships for life. If you sit around waiting for an investor to call you, its already too late. Most will sit patiently and respectfully waiting for the prospect to call. Again… Its too late!
"Customers, when given a choice of where they spend their money will invariably go back to a place where they were made to feel special. ~ Marshall Fields
Marketing to Sell Accept that it's a competitive world out there. Remember you and your investors always have a choice. Establish your position and articulate your Unique Selling Proposition. Monitor your competitors. Decide what is going to differentiate your product, service, or information from others Tell the truth, keep your word. Disclose, Disclose, Disclose Ask for feedback…Embrace Technology … Get With The Program! The buyer usually views the purchase of your property as doing you a favor
ngel Investors and other sophisticated investors have a saying: Bet on the Jockey, not the horse. The best plan in the world will not get funding, if the investor does not feel confident that you, the entrepreneur are on top things. As one entrepreneur put, you need to know your space. Tammy says, Investors ONLY do business with those that they KNOW, LIKE and TRUST! One way, your investors will determine this is by asking you lots of questions. You need to anticipate their questions, be prepared and create SYNERGY, to the point that you answer and respond without hesitation? Ive compiled the most common questions Ive been asked for you. These questions are comprehensive, so if you are prepared then you will have no trouble answering anything else they may ask you. Study these questions and write out your answers. Run your answers by your coach, experienced entrepreneurs and investors. Dont Worry! Questions are a Great thing. It means your investor is interested in working with you. Use these questions, not only to show off your expertise, but more importantly to build a personal relationship with your investor. Here are your questions: A
Why would someone invest in a real estate transaction with you vs. others? Emphasize your experience, or quality of your team Tell your story What is your approach? Show the benefit of what you are doing to the community or a group of people (e.g. affordable housing)? Show what the advantages of your approach are How you analyze – Your Due Diligence – Your Investment Plan – Your Exit Strategies
What are the economic and market trends that could affect the outcome of the investment? How are you going to get buyers to purchase the property or residents to occupy your units? Provide data and trends for property valuations and market rents. Have a solid proven marketing strategy of how you will attract buyers or residents. Have a good response for the what if questions like: what it takes you longer to rent/sell the property than you project? What about competition from other real estate entrepreneurs? Theres more property available than anyone can buy so there is little competition for the same property Discuss your method for locating and identifying your ideal properties
Whats the return on investment? The answer will depend on who you are talking to and what their expectations are. Also, decide whether youre offering promissory notes (interest payments) or equity share (% of the profit). Be aware – dont offer interest payments unless the Cashflow from the property can always support it. Offering equity avoids the Cashflow problem and may be the only way to give investors the high returns. What will you do if you dont meet the timelines youve set? Discuss how you will overcome potential risks and threats to the financial return for the investor if things dont go as planned (increased carrying costs, lower price or rent, etc). What is your experience? Your business experience and background (awards, etc.) The courses youve taken and certificates youve earned The experience and credibility of your board of advisors. If you have successful real estate experience emphasize that too.
Why would I be a good investor for you? Often you will encounter investors that have experience investing in real estate. If so, be prepared to discuss how you will value you their input, and whether you are willing to share decision making authority (we recommend you avoid giving your invest decision making controlyou should be the expert). How much additional investment are you going to need: best case, worst case and most likely? Your answer should be none. Make Conservative estimates You should always raise more than you actually need. In fact you should raise enough to cover your worst case scenario. Your expenses seem low. How do you justify the numbers? This will be asked by someone with experience with real estate investments so you must have documentation of your expense projection. Have written documents to back up your statements. Who is going to buy your property? Or who is going to refinance your property for the price you project. You need to have a solid exit strategy with contingencies. What holes do you need to fill in your management team? How will you find them and what will they cost? The composition and qualifications of your management team and board of advisors should be well thought out and described in your business plan. Is there anything going on in your personal life or do you have other business commitments that would prevent you from giving 100% to this company?
Assignments for Class 5 Reach Out - Connect - Build Relationships – Network Create the Elements of Your Credibility Portfolio Review and Become Familiar with the Property Package Request Information on Possible Properties Practice Analyzing Property Information Submit LOIs – Its a numbers game!
"It all boils down to those who really care....and those who really don't." ~ Dan Zadra