LadyP
New Member
Posts: 3
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Post by LadyP on Mar 19, 2005 22:33:25 GMT -5
I was just wondering if anyone would mind sharing teir success with running the FREE SOFTWARE newspaper ads VS the flyer method. The flyers look like they are much cheaper, but I want to get started with a bang so is the newspaper ad idea that much better?
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Post by mortgagemojo on Mar 19, 2005 23:26:49 GMT -5
I ran the ad one time in the thrifty-nickel and got a ton of calls from it but they weren't the calls I wanted. I had a bunch of calls from people that couldn't pay attention - let alone buy a house!
My area though is swamped with credit impaired people. I ran a targeted ad in some church directories and BINGO. The right calls from the right people! I have been using REA for about 8 months and I think its more about where your ad is than what kind of ad you run.
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Post by topoftheworld on Mar 20, 2005 1:55:47 GMT -5
I was wondering the same thing. I just bought mine and I was curious about the newspaper ads.
How many leads you get mojo?
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Post by nleipert on Mar 20, 2005 14:50:49 GMT -5
We bought several of these for several LOs in our office and have had lots of success in the newspaper. I have had an ad running off and on for just about 8 months now. We're a small office with only 5 LOs. When I run an ad in the general newspaper, I place it under "Apartments for Rent" and "Houses for Rent" both. Our processor or receptionist answers the phone and when she gets a request for the free software, she will pull the next one from the stack. I alternate one for each LO so each LOs software is distributed fairly. We started out getting about 200 calls the first month, then it slowed down to about 140 per month. This came out to be about 60 apps a month and about 15 loans. I had 3 LOs at the time and had to hire two more to handle the business. We had many apps the same month we started, but then they started increasing around the second month. Since then, I only run the ad about every third week. It seems that if I run it continuously, the calls remain the same, but I spend more on the ads. Things have slowed down a bit recently, but I am still getting about 100 calls per month and 50 apps. Our population is about 400k or so. I hope this helps you. This software is the best thing that ever happened to my business and you will be glad you bought it.  |
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Post by loanbabe76 on Mar 21, 2005 15:59:30 GMT -5
I've been using this for over a year and I've never used a newspaper ad before. I spoke with Kevin at length when I first bought this and he gave me some tips. I started putting up flyers in laundrymats with those little tearoffs on them. All the flyer said was "FREE HOME BUYER SOFTWARE" and had my number. I put them up on the bulletin boards and waited for the calls to come. WHen people would call, I would ask where they got my number. I was able to track my locations that way and eventually narrowed it to 6 laundrymats that produced good results. I had a few locations that gave me crappy applications where I'm surprised the renters could even rent an apartment, let alone buy a house. I pulled my flyers from locations with large turnouts of this kind of application and was able to improve my efficiency a bit. I continuously rotate my flyers and change the appearance of them and this really helps. This was another recommendation from Kevin. It seems that most people use the same laundrymat over and over again, but different people are attracted to different things and will respond differently to flyers if the design is changed even with the content being the same! (what fools people can be!)
Whatever it is, it works. 
I also found that you need to change laundrymats on a regular basis. If you have any other questions, feel free to email me at lowrates@gmail.com
Debbie
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Post by mortgagemojo on Mar 21, 2005 16:10:56 GMT -5
I was wondering the same thing. I just bought mine and I was curious about the newspaper ads. How many leads you get mojo? I get about 6 calls per week on the software. One or two become loans. After 6 months of the church directory ads I can say that 16 loans came straight from the software and 3 more were referrals from people who gave the software to a friend. That's one I never really expected! I don't keep track of how many CDs I give out, but I bought 100 to begin with and I have about 10 left. |
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Post by Melissa Smith on Mar 22, 2005 0:00:46 GMT -5
That seems like a good turnout. 90 CDs and 19 loans? That's less than $2.50 per loan! I'm curious, and others here may be as well. What is the distribution of the church directories? What is the cost? I never really thought about church directories, but I can see how it would work out really well. This is great advice!
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Post by mortgagemojo on Mar 24, 2005 13:02:06 GMT -5
I am advertising in three directories. One is my church and the other two are the churches of other family members. Our church has about 600 members and runs me $50 for each directory that goes out every 6 months. My aunt's church is about 1000 members and is $100 for the same. I am not sure about the distribution of my sister's church. I forgot to ask to be honest. It's a very large church, but the directory was only $75 and included a billboard at their summer social so I just bought and didn;t think any more about it.
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Post by ashrader on Mar 30, 2005 14:19:43 GMT -5
I'm a bit curious as to what churches would allow advertising in their directory. I am in TN and I have never heard of churches having any kind of advertising in their directories. My church does not (we have about 400 active members). I have also heard of people running ads in church bulletins, and that too blows my mind.
maybe it's my area.
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Post by MaximumMortgage on Mar 30, 2005 19:12:19 GMT -5
Usually these are Catholic churches. They do lots of fundraising activities such as Summer Socials to help pay for Catholic school students who can't afford to go and other such things.
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Post by Kevin Freels on Apr 5, 2005 20:42:29 GMT -5
I know my church sells advertising for its monthly newsletter, as well. We only have 50+ members, however. I believe it's a fairly common method of offsetting the costs of the newsletter and is a 'softer' way to reach people. Interesting thought!
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Post by bvb2030 on Apr 6, 2005 9:10:05 GMT -5
Just wanted to get some imput from anyone who has run an add in the newspaper. Looking for suggestions on what you said in your adds. |
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Post by Jose on Apr 6, 2005 17:41:40 GMT -5
I ran an ad in a local classifieds paper NOT the newspaper. They want way too much $ for it. 1 month $29. Banged my first 50 disks out the first month and ran out. The next month sucked. Third month OK 4th month OK.
Out of 150 CDs in 4 months I got about 10 loans. Total investment about $280 (including having the software made), That's about $28 per loan. Taking out the initial cost to produce it since it only has to be done once, it ends up arounf $19 per loan. That's better than many other things.
An ad in my paper with the same results woulr be about $57 per loan - too high for me. Then again, I don;t know id I may have gotten more loans had I done that.
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Post by MaximumMortgage on Apr 11, 2005 22:04:40 GMT -5
Ha! Check this out!
Ran 1 ad 1 month in the local paper and got 2 calls.
Changed a few words and ran again and gave out 25 disks in a week!
Only change was the headline from "Why Rent?" to "Stop Flushing your Money!"
Go figure. No wonder the big ad execs make such GOOD money ;D
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Post by Melissa Smith on Apr 12, 2005 11:53:49 GMT -5
That's actually common. I have spoken with outher users and many have had similar experiences. It can be tough getting the words right and different people in different areas respond differently to certain language. I wish I could help people more with this, but I only have used REA in my own area. This is why I created this forum in the first place. Thanks for sharing that with us.
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