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Guerilla Marketing Lesson 3: Am I Going to See a Sign?
| | Tuesday, June 29, 2004 @ 08:00 AM EDT
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Contributed by: Barrett Niehus
Barrett Niehus Properties
Read more archived articles about Marketing
I recently went to Phoenix on a sales trip and was amazed at two billboards along the interstate around the city. Obviously, these were two separate companies that had a similar product and had the funds to invest in billboards to develop their market. Which signs were they? Not the Nike billboard; certainly not the Oprah billboard. No, the one billboard that really grabbed my attention was the one that
said in big yellow letters “WE BUY UGLY HOUSES.” The other billboard said “WE WILL BUY YOUR HOME FAST.” Obviously, these companies have realized the power of marketing with signs and have grown their businesses to where they can capitalize on mass marketing.
What can we take away from the above observation? Certainly most of us cannot afford to put up a billboard in our market to gather leads. However, we can realize that the use of effectively placed signs can significantly increase your bottom line. Don’t believe me? Just walk down the street in any neighborhood and tell me which house is for sale. It is the one with the sign.
Step One: Know your market and where you’re hottest location of potential sales. My approach attacks from two directions. The first is to get an idea from the notice of default records at the county the area that has the highest incidents of default and foreclosure notifications. Granted, most are well dispersed, however, there are usually a couple of suburbs or city locations where the numbers are higher. For my Utah market, Midvale and Draper seem to be high target areas. The second approach is to target an area where you want a specific type of property and post signs accordingly.
Step Two: Find the highest area of traffic in the area of highest potential sales. Intersections with traffic lights are great as well as high traffic corridors and poorly designed intersections with stop signs. In suburban areas of high traffic, I try to post in vacant lots, or areas that are not controlled by the city. For intersections, I aim for the corner that has the most exposure.
Step Three: Post your sign. Well actually, you need to buy your signs first. There are a couple of sign companies that specialize in investor signage. I have used bandit signs, but now just use the Fast Signs down the block. Anyway, post your signs in the highest traffic locations. Make sure they are visible from both sides, and make your message and the look of the sign stand out. Do not attach your signs to public postings such as traffic signs. I can tell you this will result in a call from the police or county code enforcement.
Step Four: Repeat Often. When you buy your signs, try for a bulk discount. There are very few locations where you will be able to post your sign overnight without a city permit. Local law enforcement and code enforcement continually confiscate errant signs and you should plan on losing a lot of them. It is helpful to get a copy of the local zoning laws regarding signs from your city planners’ office so you know exactly what is allowed and what will be removed. For your larger sign investments, you may want to consider getting a city permit for the post.
Step Five: What Can I Expect? I attended a guru seminar where the man speaking indicated that whenever he needs a deal, he simply posts fifteen or twenty signs. That was for the Boston market. I have talked to people who swear by sign marketing and have spoken to others who think it is a complete waste of time. From my perspective, the more ways you can touch a prospect, the more apt they are to contact you. If a prospect is exposed to your sign multiple times, he/she may just call you. If this same prospect has nowhere to turn and is in danger of losing his house, you can be he will remember to look for phone number on the sign along the highway. Finally, if this prospect recognizes your ad or direct mail piece as the same as the sign along the highway, you have instant credibility well above any of the other investors who will try to contact him.
Note: Barrett Niehus is a principal for IP Ware Commercial and Residential Real Estate Investment Analysis Software.
He responsible for the development of the IP Ware Co-brand relationship to help realtors and investors promote their web sites using IP Ware as a branded giveaway.
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