low-quality. When you segment them, you can allocate money to specific groups, increasing your chances of success. A successful investor, therefore, crafts multiple messages to specific audiences and constantly assesses their success. Segmentation gives your marketing program direction! HOW TO SEGMENT YOUR PROSPECTS You can segment your prospects in several ways to drill down on high-quality prospects with the highest chance of converting. Here are some ways to segment your prospects. TAGGING Within your CRM or records management system, add tags to iden- tify specific parameters (e.g., farm
areas or investment). You can then craft a more focused marketing message to these targeted groups when you create your campaigns. You can add as few or as many tags as you like, but make sure you use the same tags across the board so you can identify prospects with shared attributes. For example, if you want to market to an area to look for multifamily rental properties, sending to a targeted list of high-quality prospects allows you to create a marketing message that hits on the specific pain points of your seller (e.g., deal- ing with non-paying tenants or the upkeep of turning over units for new tenants). Or, you may have a farm area where the homeowners dislike builders, so you must ensure your messaging calms any fears they have of a builder buying their property. You can create tags that reflect these parameters and then send marketing messages appropriate to all your contacts with specific tags. LISTS Most investors pull their pros- pects by creating general or niche prospect lists, which is itself a form of segmentation. Each prospect list should have a distinct focus, and each list will perform differently from oth- ers. So, if find your Driving for Dollars List performs much better than your Equity List, you will likely want to focus more marketing dollars on the higher performing list. If you are using a tool that allows you to manage prospects as well as run marketing campaigns, you can assign a hierarchy to your lists that identify your top performers and create a seamless and efficient marketing program. LIST STACKING List stacking is the term used when a prospect is on multiple lists. This happens when you pull
multiple lists in the same geographic region. For example, someone who has owned a rental property and has been late paying their property taxes would appear on an Absentee List and a Tax Delinquent List. The basic thinking with list stacking is that the more lists a prospect is on, the higher the quality. List stacking is a great way to leverage already segmented prospects to craft a personalized message. The more specific you are (to a point), the more successful your campaign will be. SEGMENTING FOR SUCCESS If you want to get a leg up in real estate investing, you need to start segmenting your prospect lists. Creating more targeted marketing campaigns increases the chances that one of your messages will resonate with a property owner. Even a modest increase in marketing conversions can be a game changer for many investors and may be why an investor can expand their business. So, before you send out your next marketing campaign, ask your- self, “Can I segment these prospects more than I already have?” •
Justin Silverio is the owner of JS2 Homes, Open Letter Marketing, and Invelo. He has been investing in real estate since 2011, focusing on rehab-
bing, new construction, wholesaling, and multifamily condo conversions. Silverio founded Open Letter Marketing in 2016 to provide a more effective direct-to-seller marketing strategy. OLM is now recognized as one of the top real estate investor marketing companies and was ranked on the Inc. 5000 fastest-growing companies list. His newest venture, Invelo, is a next-generation platform that spans an investor’s full sales and marketing cycle. The platform is designed to provide an optimal path of success for investors through education and high-powered software. Users can also take actionable steps to improve their business through the platform’s Academy, which includes real estate investor training and professionally taught master classes.
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