I admit, it’s a strange title. Probably the strangest I have ever written when talking marketing and the note industry. Maybe I started to write this when I was hungry or maybe I was just reaching for some sort of analogy that would frame what marketing for notes is really like.
In either case, I’m committed to it and will just have to push forward and see where we end up.
The truth is, we get asked about marketing for notes almost every day. Questions like…
- Do I need a website?
- What is the best method of marketing?
- Do I have to spend money to market for notes?
- Do I have to shoot videos or go to meetings?
- What if I don’t have any experience?
The quick answers are…
- Yes, you need a website.
- It depends (but we rated the most popular marketing methods here).
- Some methods require investment of money, some require investment of time.
- You don’t have to shoot videos or go to meetings if you don’t want to.
- And, most people don’t have any experience when they start.
So Fred, what do cupcakes have to do with marketing for notes?
Stay with me here. There is one common denominator when it comes to marketing for notes and cupcakes — you have to let the world know. Whether purchasing or flipping notes, you must let folks know what you are offering.
I know that sounds really basic but you would be surprised at the disconnect we have in emphasizing this point. Especially when people are just starting out.
You need to learn the industry, no question. You need to learn the basic mechanics of the note industry and how to work a financial calculator.
But, at the end of the day, it really doesn’t matter how much you know or how good you are on a calculator. If no one knows you purchase notes what good are those skills?
Here is where we finally get to cupcakes (and notes)…
Imagine you go into business wanting to sell cupcakes.
You set up shop in your kitchen to put together the ingredients, bake them, throw on some icing (cream cheese please), and package them up for sale.
It doesn’t matter how good those cupcakes are. Matter of fact, you might have the best cupcakes in the world. But if no one outside of your kitchen knows you are even making cupcakes, let alone selling them, your business is not going to be successful.
In the note industry, knowing all the ways to purchase a note, having direct access to funders, and even being a master at the financial calculator are YOUR ingredients.
But people still need to know you are buying notes.
Tell Folks You’re Buying Notes
At the end of the day every single marketing method is just a way of telling the world that you purchase notes.
WHAT method of marketing you choose has to do with your time, your budget, and your comfort zone. Every method has the potential to find deals and make you money.
So, tell the world in every possible way you can that you sell cupcakes — errrr — I mean buy notes! The more people you tell and the more ways you tell the, equals more opportunities. THAT is the note marketing recipe*.
*Ok, full disclosure I wasn’t sure the whole cupcake thing was going to work. But in the end I think I shared some good advice and made a few people hungry (myself included) along the way.