Saturday, August 8, 2009
Did you know there's a powerful method of marketing that almost all business owners ignore?
Plus, it's incredibly cost-effective because you don't have to spend a dime unless you close a note deal.
I'm talking about setting up a formal "referral marketing system."
Sounds complicated but it's actually quite simple.
Let me show you:
You may have told all your friends and family about your new endeavor as a note-finder. And perhaps they smiled and nodded politely as you explained how you can help note-holders get cash for their real estate notes.
But what if you offered to "reward" your friends and family for bringing you a note deal? What if you offered to pay your friends and family a $100 referral fee anytime they send you a note deal?
I bet that would get their attention. And you can bet they will keep their eyes and ears open in hopes of finding a note deal to send your way.
You don't have to give away cash either. You could offer a free dinner at the restaurant or tickets to a ballgame. The key here is simply setting up a formal referral system so that people know they get rewarded when they send you a note deal.
This way, you motivate your friends and family members to help you find note deals. Plus you can extend your referral system to include real estate professionals and other note-holders.
You might find a note-holder who has no interest in selling his note, but you can bet he'll help you find other note-holders if there's a reward in it for him.
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