I recently got a question about marketing the private note business. The question was

“Can you tell me besides purchasing your leads and mailing out letters or postcards, what do you feel is a effective way to market for buying discount notes, have started a website.”

I feel that over the years in this industry I have answered this question many many times but I want to get it out there again. I have many note holder marketing articles on my site about marketing this business and have touched on many of these topics. If any of you feel that there is information lacking on any topic as you browse through all those articles let me know and I will be happy to elaborate on any topic.

I’m not certain there is just one best way to market this business. There are always too many variables. As I have had conversations with some of the biggest brokers and buyers in the industry I feel there are two things that stand out as important. One is building your referral pipeline. This takes years to perfect and the first year or more it will not produce much but in the long run it is one of the best options for your business. You need to do all you can to develop relationships with professionals in many industries. This is especially important for those who deal with clients’ finances. Attorneys, CPAs and RE professionals are a great place to start.

The second strategy that Eddie Speed teaches a lot and does a very good job doing and teaching is to work with sellers to create the note to begin with. What better way to make sure you are dealing with a good note than to help create it? Of course if you are going to do that then you better know how to do it. You need to understand the industry inside and out. You need to be very familiar with what a good note is.

What about a website?

I have been doing website marketing for many years. It is not as easy as just setting up a website. I coach people every day about making this strategy work for a home based business and I feel it is a great opportunity. So will it work for the note business? Yes, it can but I don’t think it is near as important as all the different direct marketing strategies. One thing you must realize with a website is there is more to it than just setting up a website. Getting your website ranked in the search engines is a lot of work and requires quite an intimate knowledge of training about online marketing. I have toyed with the idea of teaching this and perhaps I will start it. Do I have interest? If I have enough of you express interest in learning how to make a website an effective part of your business then I will go into some details over the next few weeks on the topic.

Let me know if there is interest in any of these topics and I’d be happy to elaborate.

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