I am buying two parks. one is in major city (1M metro pop) and another one is in a small city in a small metro (50k pop). Test result are about the same for the first 3 days. (32 calls total for the first park in 3 days and 31 calls total for the second park). I did notice that first two days call volume are in the teens and then 3rd day drop to single digit.
I remember that Frank has a metric of at least 3 calls per day and 30 calls in 10 days. Should I worry about the drop off in call volume since day 3?
Thanks!
If you don’t refresh the ads or post a new ads daily, then your ad tends to get buried. In addition, if your ad just says the same thing, it’s familiar to the people who are currently looking at Craigslist. In other words, you should expect your marketing to give you better results on the first few days and then drop off significantly after the majority of the people who use Craigslist are exposed to it or your ad moves off of the first few pages.
When you market as an owner, you’ll be refreshing your ads and changing the copy frequently. As a test ad, it makes little sense to put that kind of effort in especially if you get a great response within the first few days. If you had a mediocre response, then you could try a marketing campaign that is more like the one you’d run the park with or switch to an alternative form type of marketing, like Facebook or Bandit Signs, to confirm the lack of demand.
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I find it hard to believe that you could not find any new tenants in areas with those sizes of populations.
Thank you! Really helpful.