Armstrong Capital Newsletter
April 2010
Jeffrey R. Armstrong
President of Armstrong Capital
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Hello! April is here! That means the first quarter of the year is over and it's time to do our quarterly mini-check of our marketing and see how it is working. We can look back over the last three months to see how our marketing has been going as compared to last year and over the last several months. You may need to tweak it a little bit, change it a lot or do nothing at all. This month we'll talk a little bit about cost effective marketing.
The economy is still down and it seems it is going to stay that way for a while longer. If you run a cash flow or note business, what are you going to do? There is a long recognized rule: In bad economic times, businesses that maintain their marketing come out healthier than businesses that cut back their marketing.
But budgets are tight, so you have to market smarter. There is a common misperception that marketing equals advertising. But marketing is much more than that. In my book "Every Single Profitable Note Marketing Idea in the World (almost)" I cover the entire range of marketing tactics available for our business. In particular during these tough economic times I want to share with you a few key affordable marketing methods.
Tighten your target market. Smaller, highly targeted marketing options are far cheaper - and often more effective - than tactics that reach a larger audience. For example, instead of direct mailing to an entire state of note holders off of a quality list, maybe direct mail to only note holders in that state with notes under $100,000, that are seasoned less than six months on residential property only. Or if you are using classified ads, instead of placing your ads in a large regional paper, maybe place them in smaller local papers in outlying rural areas around major cities.
Ask for 'remnant space'. If you are advertising, whether it is print, TV or radio, every media outlet has unsold space they sometimes sell to smaller advertisers at a fraction of the regular price. A company that I know got a nationwide remnant ads on CNN for only $500! In this economic environment, ask for details!
E-mail Newsletters. Web-based services with pre-formatted templates that maintain your list and do all of the technical work for you (except for the writing) are a cheap, easy way to regularly remind note holders, referral sources and potential clients of your value and services.
Remember, when times are tough, smart note businesses look for every advantage. So get out there and keep on marketing, it's going to work! TWITA!
Jeff Armstrong
Jeff's Speaking and Instructing Schedule
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Jeff Armstrong is President of Armstrong Capital and was the Editor of the NoteWorthy Newsletter from 2006-2008. A current practitioner in the seller financed note business since 1991 he is a member of the Million-Dollar Club, a Master Broker/Buyer, visiting instructor for the American Cash Flow Institute, Instructor for Nouveau Riche and the author of several best selling industry books. Visit www.secretsofpaper.com to learn about upcoming workshops and events and go to www.armstrongcapital.com and click on "Note Brokers" for answers, articles and information about his Master Buyer services and how Armstrong Capital can help you succeed. He can be reached by calling 800-845-3055, faxing 818-865-2323, e-mail jeff@armstrongcapital.com.
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