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-   -   Marketing to new homebuyers idea (http://www.sowpub.com/forum/showthread.php?t=4308)

Larry Foster August 26, 2007 09:16 AM

Marketing to new homebuyers idea
 
I have seen the idea about marketing to new home buyers often.
This shows up here as a way to get a business to advertise with you.
Given the current state of the U.S. housing market, how many new home buyers are there?
The sub-prime market has totally collapsed. There is a large segment that can't buy a home now that could recently.
Home sales are around a 4 year low.
It may go lower.
This may or may not last.
My area is not typical. I'm rural in a fairly rural county. Few jobs and very few potential qualified buyers. They all left to find work elsewhere.
That leaves the businesses in my small town having to exist on what's already here.
I'm sure there are areas, especially in or near a lot of metro areas that there is still a lot of buyers.
But there's a lot that ain't.
How about some different ideas to sell businesses on working with us?
Thanks.
Larry Foster

bobmcalister August 26, 2007 05:57 PM

Re: Marketing to new homebuyers idea
 
thanks larry

but I dont exactly understand your question...want to rephrase it ?

bob

Sandi Bowman August 26, 2007 06:41 PM

Re: Marketing to new homebuyers idea
 
Larry, I read and re-read your post and it appears that you're assuming we have information we may not have. I, frankly, don't know what you want us to reply to. Help us so we can help you?

Sandi Bowman

Larry Foster August 26, 2007 11:21 PM

Re: Marketing to new homebuyers idea
 
Let me try again. Sorry for the confusion.
I have seen posts here that our hook to local businesses is that we will promote their business to new home buyers. Send postcards or get the business info into those hands.
Here's one by Unregistered
I have seen this idea a lot here.
Given that the number of new home buyers is decreasing rapidly due to the economy, is that still a good offer?
My point for my specific area is that wouldn't be worth a lot due to demographics. Few homebuyers.
What I was looking for was whether that offer of promoting their specific business to new home buyers was still a good incentive for a business to pay you to be on yoor website or whatever you are offering.
If not, do you have other ideas that would fit the current climate better?
Hope I was clearer.
And thanks as always.
Larry

Todd August 27, 2007 12:00 AM

Re: Marketing to new homebuyers idea
 
Home sales were actually up last month according to CNN Money. The new home inventory is still bigger than demand, but there are still a whole lot of homes being sold. There are less mortgages available to those with bad credit, but prices are a little lower in a lot of places, interest rates are great, and builders are offering unheard of incentives on inventory homes. This is a very smart time to buy (incredible deals here in the Phoenix area even though several thousand homes sell every month).

I don't know about your specific area however. If there are not a lot of home sales there then obviously marketing to buyers wouldn't do a lot of good.

Personally I'm trying to market to renters with decent credit to show what kind of incredible deals they can get right now should they decide to buy. It seems to be a lot like the stock market, everyone wants to buy when prices are climbing like crazy, then when there's a correction they get nervous and don't want to buy when prices are lower.

Maybe offering to market for mortgage brokers would fit the climate right now. Help people with ballooning mortgages to get a decent loan would be win/win/win. I think the marketing to new home buyers idea is still very hot in many markets though, I wouldn't write it off completely.

Sandi Bowman August 27, 2007 02:04 AM

Re: Marketing to new homebuyers idea
 
This might work better for the rent-to-own crowd at this time, Larry. Many folks who could've purchased a home prior to this current situation may not have had the down payment saved up completely or not been on the job quite long enough etc. These folks are often open to the rent-to-own, time-limited contract prior to standard purchase. The buyers gain a portion of the rental payment to add to their down payment etc. and the property holder gains their sweat equity and improvements to the property etc if they can't finance when the contract is completed otherwise. It's a win-win-win assuming they're good credit risks to start with.

Just a thought for what it's worth. In that case it'd be just a variation on the new homebuyer theme that would work in this current market so I would thinik that, given that things are okay otherwise (homes for sale and potential buyers) it'd be a good idea for most related businesses to advertise.

I'll have to give some thought to other options if the home market is kaput in a given area.

Sandi Bowman

Phil August 27, 2007 02:51 AM

Re: Marketing to new homebuyers idea
 
Larry,

Keep in Mind, even though we may live in a particular Location and Economy...

We have the opportunity of Focusing in on any Geographical Location we choose....

Matching up businesses with Consumers... Especially by researching Hot markets...

There are many Free resources listing Millions of Specialized businesses with full contact details...

We can Blog about them, talk to them on the telephone, email them using Creative communications and Do postcard PR ideas & all kinds of other marketing tactics... :)

And Take their Money using PayPal... ;)

A few good Real Estate resources for Finding Hot market places...
http://www.homes.com/hot_real_estate_markets
http://www.trulia.com/home_prices/
Interesting...
http://hindsight.trulia.com/

http://www.propertymaps.com/
http://www.zillow.com/

A real PPC Gem! I've posted about many times...

Make sure your speakers are On...

Light Bulb Moments With Perry Marshall
Sharon Odom Fling
http://www.geolocal.com/public/643.cfm

Phil

Larry Foster August 27, 2007 09:23 AM

Re: Marketing to new homebuyers idea
 
Thanks Todd, Sandi and Phil.
Some good ideas.
But, I'm afraid I still haven't made my question clear.
In the post that I referred to above, there was a suggestion on creating a local community website. To get advertisers to pay you to be featured on this site, you offer them the opportunity to be the only carpet cleaner, restaurant, flower shop, grocer or whatever.
There have been other opportunities discussed in the past where marketing to homebuyers was how one would promote these local businesses.
If you were in an area that housing sales were very slow, what would you offer a local business to incentivize them to be on your community website?
I agree that some areas are still booming while others are in the tank. If you were in an area where home buyers were about as scarce as hen's teeth, how would you approach the florist, restaurant or grocer?
Todd, thanks for the idea about mortgage brokers. I just started with one as a new client.
We recently did a small (325) postcard mailing to owners with ARMs that were about to be reset. One phone call and that one seemed to vanish. Never to answer her phone again.
Small sample and can't tell if the copy was bad (I hope not) or since consumer confidence is low people are apathetic. One interesting thing to me was that at least 10 cards were returned as undeliverable indicating to me that these people left these homes that were purchased less than 2 years ago.
I have opinions about how qualified their list is.
I am in western Pa. and, in general, we're going backwards fast in many ways.
Thanks, again.
Larry

Pete Egeler August 27, 2007 11:57 AM

Forgive me for saying so, Larry...
 
but I think you're in a rut!

Why are you banging your head against a brick wall with "new home owners"?

"If you were in an area that housing sales were very slow, what would you offer a local business to incentivize them to be on your community website?"

I think that you need to step back, look around, and shed this "new home buyers" junk. The key word here IMHO, is "COMMUNITY". Increasing traffic and sales is the name of the game, and I'm betting that the businesses could care less about the status of the home owner!

Like I metioned, perhaps you just need to step back, look at the idea from another angle, and put a twist on it.

Pete

xenia August 27, 2007 12:17 PM

Re: Marketing to new homebuyers idea
 
Geez that was very straight forward.. and hit the bulls eye :)

Larry Foster August 27, 2007 01:35 PM

Re: Marketing to new homebuyers idea
 
Thanks, Pete and Xenia.
I seem to be having trouble being clear. I apologize for that.
I am not looking at new homebuyers.
What I was looking for were some ideas beside home buyers.
I used home buyers only as an example because it has been mentioned here in a few different threads.
New home buyers definitely wouldn't work for me.
How would you get traffic to a community portal or website?
Thanks for your patience
Larry

GordonJ August 27, 2007 01:43 PM

OK, let me give it a try Larry...
 
Do you already have a community portal set up?

Is this an idea? or a done deal?

I think (although I reserve the right to be wrong here too) that you are trying to find ways to drive traffic...LOCAL customers? to a Community based web site...and by being able to have TRAFFIC...

you can sell ads on this portal to local businesses?

Right or Wrong?

If this isn't it, you really do need to work on clarifying your question, fair enough?

I'll reserve MY answer once I know if I'm barking up the right tree.

Gordon Alexander

Sandi Bowman August 27, 2007 03:03 PM

Re: Marketing to new homebuyers idea
 
Larry, we have a local community business location/ads site online in this area. What he did was go to the local businesses and present a package deal to them that would see their business advertised on his site. All the ads are the same size (last I looked, anyway), and the same price. The design is his with approval/collaboration with the business. The business provides the content, pictures etc.

His basic idea is that local people, and visitors, would find the site useful when looking for specific items or services. He eventually offered both the standard ad plus, for an extra fee, a listing in the categorized section so people didn't have to scan everything to find them. It seems to have worked well.

He advertises the site several ways: brochure in the visitor's center, newspapers, flyers, and lots of word of mouth as well as the Chamber of Commerce.

Sandi Bowman

Larry Foster August 27, 2007 09:52 PM

Re: Marketing to new homebuyers idea
 
Thanks everyone for your patience and responsiveness.
I apologize that my question isn't clear. It is to me but I know what I'm trying to say. :)
Gordon, it's not a done deal.At one time I had an idea for a free weekly print paper with one purpose to drive readers online. It's gathering dust at the moment.
I would like to do lead generation and list building for local businesses.
I guess what I would like to know is how would you get traffic for local small businesses? Those that have no reach beyond the local community.
If I go to a florist, roofing contractor, an insurance agent, jeweler or any kind of local biz to offer marketing, what would you do to get them business? Online or offline.
Online, there is Local Search. Offline, there could be bought lists, classifieds in other media, posters on bulletin boards. But no marketinng to new home owners.
Thanks
Larry

Ankesh August 28, 2007 07:02 AM

Re: Marketing to new homebuyers idea
 
Thanks Larry for asking.

It is really really hard to persuade people to log on to a website by promoting offline. Your weekly newspaper ad buyers won't see a terrific response rate. Unless they provide coupons or bonuses that people can redeem online only.

Here is an idea you may like:

Fish bowl marketing.

* Place a book or something in shops in your community
* Collect email addresses (maybe give incentives to people to give you their email addresses)
* Run a newsletter
* Promote the stores who allow you to collect email addresses at their venue - via your newsletter

There was an awsome discussion on such an idea some time back on SowPub.

Larry Foster August 28, 2007 07:40 AM

Re: Marketing to new homebuyers idea
 
Thanks for the ideas, Ankesh
Larry

Rob Yaggie August 28, 2007 11:18 AM

Re: Right Tree for Me
 
Quote:

Originally Posted by GordonJ (Post 16754)
I'll reserve MY answer once I know if I'm barking up the right tree.


Hi Gordon,

Regardless if that is the right question for Larry, I would appreciate your answer. I'm very interested in ideas to make a community website successful. This would include content of interest and marketing ideas.

Thanks,
Rob Yaggie

GordonJ August 28, 2007 11:51 AM

Rob, see my post: ATTENTION Larry Foster...
 
check out the site I mention. IF it is of any interest to you, then here is my affiliate link to make the purchase...and get MY support too:

http://gjabiz1.luckyyank.hop.clickbank.net

Lucrative Home Based Business


And I'll comment on it later this evening.

gjabiz

PS. And in the meantime check out the soon to be gone forever (perhaps) works of yours truly at www.flylowcollectdough.com

MichaelRoss August 28, 2007 04:34 PM

Think Outside The Atom
 
Larry,

Thanks for asking about getting business for Local Businesses.

You asked... "how would you get traffic for local small businesses" and "what would you do to get them business". And these are Two Different Questions.

Before you go rushing off to create a Local Community Website, if things are "slow to no" in this small town, how do you know the residents there even have a computer, and if so, how often they access the Web? And, aren't poor as church mice and couldn't buy Additional Stuff from the businesses even if they wanted to?

Also, as there is a Wide Range of what can be done to market a business, you could be spreading yourself thin trying to solve everyone's marketing problems - including your own. And how much of your Marketing Knowledge could be applied in this small town?

Take the florist, for example. Assuming there is only one in town and everyone already knows about it, do you know how often people buy flowers? Birthday? Funeral?

You could try the old "How mad is she? Roses $5" sign out the front during afternoon rush hour. And what then? What else do you have up your sleeve for the florist?

You May be able to Convince all businesses in town to have a fresh bunch of flowers on display each day. You might convince them Easily or it could take forever to do so. But if such a thing worked, what else do you have for the florist?

If that's your whole bag of tricks in this small town, then YOU are now out of business too. Your business is one of the small town struggling businesses.

I'd be more inclined to Focus, if you want to get into the "sell advice to businesses" business. Kennedy is known for Chiropractors. Polish for Carpet Cleaning, I think it is. Jason for Martial Arts Halls - Adam Katz was dabling in this too.

This way, you can do one business in each town, or in each side of a larger Town or City. Looking Outside of your town, as Phil hinted at.

Whichever way you go, just make sure not to turn Their Problems into Your Problems. And don't bust a gut trying to help people who do not want help.

Besides "Advice" or "Advertising Space" have you spoken to any of these businesses to see what Other Problems they may have?

For instance, speaking with a Take Away store owner, he told me he couldn't get the Good Oil for his fry vats because no-one around the area supplied it. And he Hated having to Filter his oil. That's TWO opportunities there...

Start a Mobile Oil Filtering business - or - become the local Rep for the Good Oil, even traveling to the Main Supplier to pick up a Large Supply for distribution into your area. Chances are other similar businesses have the same problems.

Michael Ross
www.hotsheets.info

bobmcalister August 28, 2007 06:33 PM

Re: Rob, see my post: ATTENTION Larry Foster...
 
so ...gja bizMAN....we buy the postcard deal and you help us do it ? goodness ...you gonna be a busy man !~

thanks

it does sound interesting...

Larry Foster August 28, 2007 07:24 PM

Re: Rob, see my post: ATTENTION Larry Foster...
 
Gordon and Michael.
Thank you both for the excellent input.
I haven't gotten to Gordon's other post yet to see what else he has up his sleeve.
Michael, Based on data from the phone company a little over a year ago, they had a broadband presence in the state of 60%. They estimated another 20% had either cable or dial-up. That isn't my local area or even region but it's what I have to go with for now.
You made some good points about the florist. Actually there are a few in town but it doesn't change the validity of your statement.
Real estate or insurance agents may be a little more viable. Insurance agents should have some money to work with and real estate agents need to continually promote for listings.
Maybe a better idea is to go to individual businesses and make them stand out?
Larry

GordonJ August 28, 2007 07:51 PM

NO. Not at all. And I'm already a busy man.
 
Quote:

Originally Posted by bobmcalister (Post 16767)
so ...gja bizMAN....we buy the postcard deal and you help us do it ? goodness ...you gonna be a busy man !~

.


Don't buy the postcard deal Bob, it is not for you.

What I said is IF anyone does buy the product through my affiliate, then I'll offer my assistance...and support...

But how much HELP that is, is up to you.

Ya know, Bob, you've given me reason to edit my post...Thanks.

gja

Rob Yaggie August 28, 2007 10:26 PM

Re: Got it! Great ebook
 
Quote:

Originally Posted by GordonJ (Post 16764)
check out the site I mention. IF it is of any interest to you, then here is my affiliate link to make the purchase...
And I'll comment on it later this evening.


Hi Gordon... I got this ebook based on your recommendation above. I read the entire ebook tonight and was quite impressed. It is very meaty and complete. Well worth the small price he is charging.

I look forward to more of your comments on this type of marketing.

Thanks,
Rob

Phil August 29, 2007 08:23 AM

Re: Think Outside The Atom
 
And on that Problem...

These guys have done Well...

The World is Full of Problems! Solve them and you're in business... ;)

http://www.filtafry.com/usa/index.html
http://www.filtafry.com/Service.htm
http://www.franchise-chat.com/forum/...php?t-307.html

How's this for Interesting? :)
Deep-fry diving for goldfish in Japan
http://www.kilian-nakamura.com/blog-...fish-in-japan/

Yes... Keep your Eyes on Trends and business ideas in Japan...

Phil

Unregistered August 29, 2007 10:23 PM

Instead of $890 per mailing...how bout $30,000?
 
Excellent concept;

Taking photos of homes to personalize each Card, which grabs the attention of each recipient.

Then charging $1.50 per Card = $1500 for 1,000 Cards mailed.

Charging $1500 per 1,000 postcards from 1 participant and netting "890" is a "fair" number for your effort.

However, what if there was a way to get 25 participants to each pay $1500 for the same mailing? ($37,500 Gross less $610 = $36,890 for the same effort)

....or 20 participants who pay $1500 each? ($30,000 less $610 = $29,390)

...or 10 extra participants on the same Card? ($15,000 less $610)

...or just an extra 2 participants @ $1500 ea = an extra $3,000 + $890 = $3,890 per mailing!

It does not have to be an exclusive mailing for one participant! It could be an exclusive mailing for each "category" or participant!

hockeycoachdoug August 29, 2007 11:01 PM

Re: Marketing to new homebuyers idea
 
Can you expand on that idea? Do you mean send like a Valpak or something with the picture on it? a package with the picture? Maybe a sponsored larger version of the picture- more perceived value? Or just smaller, but more expensive ads on the back meaning more ads and more revenue? Maybe the card could send everybody to a website with exclusive, high value offers the recipient couldn't refuse from multiple exclusive industry vendors- I like that idea the best.

Unregistered August 30, 2007 10:24 AM

Re: Instead of $890 per mailing...how bout $30,000?
 
"It does not have to be an exclusive mailing for one participant! It could be an exclusive mailing for each "category" or
participant!"

Yep.

And when you tie in some of the previous posts (Dien, I don't know if these are archived yet)
on using postcards to target those who are 'moving', the concept of using a house picture on
the front of the postcard gets even more interesting.

Especially when you can find 'listed' and 'open house' pictures online along with address info.

GordonJ August 30, 2007 10:32 AM

Re: Got it! Great ebook
 
Quote:

Originally Posted by Rob Yaggie (Post 16772)
I look forward to more of your comments on this type of marketing.

Thanks,
Rob


Hi Rob,

I too was impressed and my college kid and I are going to be working this program, with some twists....and I think I'll either start a yahoo group or a private forum (for free) to discuss this with other DOERs. There is no sense bothering the main stream here with this stuff.

Shoot me an email, [email protected] and we'll start discussing this potential gold mine.

Thanks Rob.

Gordon

PS. I will discuss the BASICS of postcard marketing at the NEW forum dedicated to OFF line direct response marketing. Exciting stuff going on.

Unregistered August 31, 2007 12:35 AM

Try this....
 
Quote:
"In the post that I referred to above, there was a suggestion on creating a local community website. To get advertisers to pay you to be featured on this site, you offer them the opportunity to be the only carpet cleaner, restaurant, flower shop, grocer or whatever.

If you were in an area that housing sales were very slow, what would you offer a local business to incentivize them to be on your community website?
Quote:

ANSWER; The following has been done successfully in a town of pop 5,000;

1) Borrow, rent or buy a Digital Camera with a 100mm Lens
2) Go to your local Private Airport and find someone who has a 152 or 172 Cessna and pay them to take you up in for a "Photo-Shoot". (Cessnas have a high wing where the side window can be opened and the wind keeps it open while you lean out and take pictures of homes at 500 ft. Go down one street or road taking photos of all the homes on one side of the street...then, turn around and go back taking photos of the other side or the road or street.
3) With "Kodak Easy Share" you can edit the photos so you can separate each house or estate from the others.
4) Put up a website called, "HarrisburgHomes.com" or "LancasterHomes.com" (or whatever the name of your town is)
5) Place a bunch of "Thumbnail Photos" of say, 16 Homes (4 across and 4 down) in a square in the center of a webpage, with squares all around the edges. Clicking on any "Thumbnail Photo" brings up a larger photo of that home and which can be printed out.
The squares around the edges are ads for non-competing businesses and professionals.
6) Make a Sample Page with Sample Home Photos and Samples ads and print the page and go show potential advertisers how they can participate in your exclusive program,,,,that this will be the "Talk of Harrisburg" because homeowners would love to see an "Aerial Photo" of their home.
6a) The price that has worked is....$480 for each advertiser for a 3 month term ($240 deposit and $240 when their ad is up on the site. 20 Ad Squares = $9,600
6b) You could also make up a "NewsRelease" and ask the local newspaper to run an article on your unique website.
7) After placing 30 of these pages (with 16 different homes on each page (480 Homes) and the same ads around the edges on each page) run an ad in your local newspaper announcing,
"SEE AN AERIAL PHOTO OF YOUR HOME AT WWW.HARRISBURGHOMES.COM!" and show one of the "16 Photo" squares so they get an idea.
8) Add another section of 30 pages (480 Home Photos with 20 different advertisers) ...either in your same town or a nearby town.


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