Before spending money on marketing for notes review your message. Effective marketing must address the needs of the note holder.
This puts the attention on the customer not you. Design materials that focus on the needs and wants of the note seller rather than how great you are. Appeal to the basic human desires to have money, feel happy, save time, feel better or improve relationships.
Recognize that people are generally motivated by one of two things 1) the fear of pain or 2) the pursuit of pleasure.
People motivated by fear are generally trying to avoid or move away from something. They might sell their note to pay a bill, avoid late payment, or foreclosure concerns.
Those motivated by the pursuit of pleasure are looking forward to the future and moving towards a goal. They might liquidate a private mortgage for a better investment, a dream vacation, or in the pursuit of some other goal.
Since you do not know which type of person will be reading your marketing piece, the initial presentation must appeal to both groups. Communications are fine tuned to the individual once personal contact has been made.
The copy must be written to grab attention and ultimately motivate a response. In order to deliver an effective marketing message be sure to utilize these five essential elements:
1. Grab Attention – Things demanding our attention constantly bombard all of us. To have any hope of a response, the initial copy must quickly grab the reader’s attention. This is often accomplished with a teaser or headline that provides a promise or appeals to a need. For instance: “Cash Now! ” or “What Every Note Holder Needs to Know to Avoid Losing Their Valuable Asset!” An alternative approach is to ask a question such as: “Tired of those monthly note payments just trickling in?” or “Worried the Buyer Mights Stop Making Payments?”
2. Identify the Need or Want – The reader may or may not have yet identified their need or want. By listing the most common reasons people sell their cash flow or note (unexpected bills, another investment, business expansion, a dream vacation, collection hassles, peace of mind) you help identify the need or want.
3. Position Your Services as the Solution – A simple one or two sentence statement will position your service as the solution or answer. An effective transition for our business is “If it’s cash you need, let us help!”
4. Prove You are the Best Solution – To most effectively prove you’re the best solution, describe the benefits and advantages of working with you. Examples would be: “Cash in as little as 10 business days” or “We handle all the paperwork” or “We pay all costs!” You can also include success stories, testimonials, or answers to common concerns. Point out anything that makes you stand out from your competition.
5. Motivate to Action – The closing must identify the desired action and motivate the reader to take the action. This is accomplished with: “Call today for a free no obligation quote!” It is essential to also create a sense of urgency. Consider “With interest rates down, your payments are worth more now than ever before! Hurry before interest rates go back up.”
Be sure to incorporate these essential elements into letters, postcards, brochures, ads, and websites to achieve your goal of effective marketing for owner financed notes.
Want to learn EVERYTHING about the note business, including how to find notes and receive proven marketing materials you can immediately use? Check out Personal Profit Series: Notes!