I had a question come in from a new note broker today about how to effectively market the note business. This individual indicated they had sent out 500 post cards to note holders with little response. I felt my response would be valuable to many so I have decided to create a post here with the details.

I started my reply discussing what I saw as the primary source of pain. Expectations. “The most important thing I can say about starting any kind of business is that it is not an easy or fast process.” I have done a lot of coaching over the years with individuals who are starting a new opportunity often due to an infomercial or other resource that is made to sell the idea but not give all the details of the work needed. That’s my job right? This is the first pain point for most who are just starting a new business. they expect it to show results right away or they feel that their small efforts are big efforts. Sometimes there is no easy way to say, well you’re not quite 100% correct about that. So the first thing to do is educate yourself a little bit about what is really needed to be successful with¬†the¬†opportunity you are beginning.


With the note business this means a lot of marketing. What is a lot? Well I would say it starts with a minimum of 1000 direct mailers every month. Research any information about direct mail marketing and you will see that is a low starting point if you intend to be serious.

Consult a coach who can guide you in your business.
This is another important aspect to starting a new business. If you are new to the industry then it is a good idea to find somebody who is familiar with what is needed. If you are going to do what is necessary to make the note business work then you need to find somebody who can help you do it effectively. I don’t coach this business anymore personally but I would suggest Eddie Speed’s program to anybody looking for somebody to teach them. Eddie has been in the business longer than most who are still around and he knows how to make it work.

Last I stated that there are many opportunities out there. If you are just looking to make money in some way and you are not sure what is needed or what is best for you then do a little research and see if there is something else that you may be more interested in or if there is a better option for you right now.
Find my full reply here

I received a question the other day that I felt was worth answering to everybody. I think the information provided will be helpful for all working the note business.

Q.I was given the name of your comapny by Donna Bauer as a source for leads, you say you have worked this for man years in your opinion what have you seento be the most
effective way to market the leads to be successful

A.The most important thing I have seen over the years to be valuable for an effective note business is repeat marketing. You need to continually market to your list on a quarterly basis. Here are a few tips to follow:

  • Be sure to create some kind of logo or simple image that will be recognized on each of your mail pieces. This will help the note holder feel like they know you as they see more of your mailings with that same marking.
  • Clean your list. As you mail to your note holders you will have some mail pieces come back undeliverable. Remove those items from your list so you do not mail to them again the next time you mail out.
  • Build your list each time. You should add more leads to your list each time you mail so your list is always growing with new leads.

Any kind of marketing is a numbers game and this business is no different. Ultimately, the most important thing to make sure you are successful is to communicate well on the phone when the note holder calls you back. You need to find their needs and help them achieve what they need.

 

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