Quick question on the test ad - what is general rule of thumb on what constitutes a good location versus bad in the context of the test ad? If you receive 20 responses in the first hour or 0 responses in 5 days the conclusions are pretty obvious. But is there some sort of general response anyone looks for to give it the thumbs up/down? Thanks
Our advertising to rental/sales metric is 3 calls = 1 showing and 3 showings = 1 rental/sale. So you need 9 calls to get a home out the door. That being said, based on the market, your metric may be even higher, based on competing product (other parks, cheap SF, erc.) so we like to have about triple that to feel really safe. If you can get 30 non-repeat calls in 10 days, then you are probably fine. Under that will require a lot of thought and belief in the merits and future of that location. But it rarely ends up in the grey area – you either get 3 or you get 50. We have been shocked in both directions.
Frank,How long do you give it to get these results? Do you update the ad to keep it at the top? Craiglist ads move pretty quickly if they are not constantly updated.Thanks
Oh, I should have read it closer. Got it. Thanks.Do you use the same Craigslist ad or do you update daily to keep at the top?
We use the same newspaper and Craigslist ad throughout. We do not update it.
One more question - when people reply do you respond? There are some confidentiality issues around the sale. So I figure just let it go.
You do not respond until you buy it. Keep those number handy because the minute you are in control, you can call them and start to close sales. If you do not close on the property, for any reason, give those to the current owner to call.
If you are advertising in a region known for snow birds do you run test ads in say 3 cold northern cities and see if that ads to the count? Or just let them find you? Thanks.
@frankrolfe : How much leeway do you give if you don’t hit the 30 call target on a 100% occupied park?
I’m in discussion on an off market park right now and ran a test craigslist ad to check the demand in the area. I got 13 calls/messages in 10 days, but the park is 100% occupied with TOHs…