Real Estate Wealth Expo – How It Stacks Up Against Other Advertising & Lead Generation Methods

Real Estate Wealth Expo - How It Stacks Up Against Other Advertising & Lead Generation MethodsIf you’ve been looking for a way to generate quality mortgage, real estate, insurance or real-estate-related services leads, then perhaps you’ve considered exhibiting at a Real Estate Wealth Expo or using other different advertising mediums. In truth, there are many ways for you to generate good leads – each with its pros and cons. Maybe you’ve considered running an ad on TV or the radio. Perhaps, even, you’ve considered doing a mass mailing.

Below is a short comparison list of the different advertising mediums you can use in order to gather leads. The list includes a brief notation of each medium’s pros, cons, costs and guarantees. Note: the list assumes you are trying to generate mortgage leads.

Pay Per Click Advertising (Yahoo! Search Marketing, Adwords, etc.)

Pros:

– You can start getting leads right away.

– Write your own ads.

– Drive visitors directly to your site.

– Tools available to measure your ad campaign’s effectiveness.

Cons:

– Fierce competition leads to bidding wars that drive bids way too high.

– Wasted time trying to write effective ads.

– Dismal ROI unless your site’s design and sales process are top-notch.

– Click Fraud.

Costs:

– Anywhere from 5 cents to as high as you are willing to pay. At the time of this writing the cost for the keyword “mortgage leads” was an estimated $13 – $16 per click..

Guarantees:

– NO. There are no guarantees you’ll get qualified visitors. If you do, there are no guarantees they will convert.

Lead Generation Service

Pros:

– You can start getting leads the same day.

– Outsourcing leaves you free to do other important things.

– Allows for customized criteria to be met to improve prospect qualification.

– Bad leads can be replaced.

Cons:

– Some leads may be non-exclusive and are shared with your competitors

– Exclusive leads cost more

– Membership fees are sometimes applicable

– Costs can add up very quickly

Costs:

– Non-exclusive Leads: about $25 each.

– Exclusive Leads: about $30-$50 each.

– Note: the more you purchase, the less you pay per lead.

Guarantees:

– YES. These services offer a pretty good guarantee when it comes to the quality of their leads.

Newspaper/Magazine Ad

Pros:

– Local, regional or nationwide exposure.

– Added credibility from being listed in a known publication.

– Affordable.

Cons:

– Testing ad effectiveness and ROI can be difficult and can take a long time

– Readers aren’t necessarily looking for your ad

– Can quickly get expensive if you Ads are not pulling

Costs:

– Display Ads can cost $15,000 for a full page.

– Prices vary depending on ad size and format (such as bold type).

– Classified listings are cheaper ($20-$150), but you can’t fit the full benefits of your offer due to limited space.

Guarantees:

– NO. Though many publications offer reader demographics, there’s really no way to tell how qualified the reader truly is.

Radio

Pros:

– Local, regional or nationwide exposure.

– Some stations will put your ad together for free.

– Affordable.

Cons:

– Testing ad effectiveness and ROI can be difficult and can take a long time

– Listeners aren’t necessarily there to listen to your ad

– Can quickly get expensive if your ads are not pulling

Costs:

– Costs vary depending on region and market share.

Guarantees:

– NO. Though stations may offer listener demographics, there’s really no way to tell how qualified the listener truly is.

Direct Mail Campaign

Pros:

– Affordable.

– Your message goes straight to the consumer.

– Testing ad effectiveness and ROI is not difficult.

Cons:

– Testing ad effectiveness and ROI, though not difficult, can still take a long time

– Your offer can get confused for “junk mail” and might get tossed in the garbage.

– Multiple trials necessary to get a good ROI. A good ROI is considered 1-2%.

Costs:

– Cost = cost of paper + cost of ink + cost of stamp multiplied by the number of mailers you send out. Mailing postcards are much cheaper!

Guarantees:

– YES. 1) The U. S.Postal Service will deliver you mail. 2) If your mailer was done correctly, you should expect a 1% to 2% response rate.

TV Commercial

Pros:

– Local, regional or nationwide exposure.

– Better branding.

– Still considered the best way to advertise.

Cons:

– Testing ad effectiveness and ROI can be difficult and can take a long time

– Viewers aren’t necessarily there to see your ad

– Will flat out break your budget

Costs:

– Astronomical

Guarantees:

– NO. Though stations may offer viewer demographics, there really is no way to know exactly who’s watching, who’s qualified or who’s interested.

Cable Tv

Pros:

– Local and regional exposure.

– More affordable than regular TV.

– Can help build your brand.

– Millions of viewers and growing.

Cons:

– Testing ad effectiveness and ROI can be difficult and can take a long time

– Viewers aren’t necessarily there to see your ad

– A lot of folks still do NOT have access to Cable TV

Costs:

– Prices vary depending on region and market share, but it’s way more affordable than regular Tv. Some spots can be as low as $5,000.

Guarantees:

– NO. Cable TV, though more affordable, offers no better guarantee than regular Tv.

Exhibit Booth at the Real Estate Wealth Expo

Pros:

– Thousands of qualified leads. More than 50,000 in some cities.

– You can get leads right there on the spot.

– Meet and speak to your prospects face to face.

– Limited competition.

– Easily Track your effectiveness.

Cons:

– You have to travel to the city where the expo is being held.

Costs:

– About $4,995 for a 10′ by 10′ Booth.

Guarantees:

– YES. 1) Attendees are pre-qualified. 2) Leads are typically interested, motivated and ready to take action.

As you can see, each advertising medium has it’s pros and cons. Which one is best for you depends on your marketing goals and budget. Though exhibiting at the real estate expo can deliver leads right to your doorstep at a much faster rate, the other mediums can deliver quality leads to you over time. As such, consider using an all-encompassing marketing strategy to acquire your target leads. You can use any of the above in combination with each other. Once you find what works best for, stick with it and let ‘er rip!