Business
Chris Arnold is currently based out of Tulum, Mexico. He joins Brian on the show today to talk about an uncommon marketing strategy: the radio. In today’s episode, Chris talks about the best ways to advertise on the radio, the lessons he’s learned over the past nine years, and how radio advertising can help boost the quality of your lead generation. Key Takeaways: [1:00] Chris lives full time in Tulum, Mexico. When his business closed their brick and mortar business, he and his wife moved to Mexico and work completely virtually. Chris is the visionary of his wholesaling business that’s based out of DFW. [3:25] Radio advertising has helped them expand to all of North Texas, and they scaled from a boutique brokerage into the wholesale side, so they could maintain lifestyle. Chris started radio advertising nine years ago. It’s a dependable marketing channel because it’s not list-dependent. [6:15] Chris shares the key points to being great on the radio. The first is pricing — you make all of the money on the purchase. They are able to negotiate 60-second spots on the radio down to $10–$15/slot. The second key is determining the ideal frequency and play time. [8:40] To negotiate, they have a formula that you can follow that will show you what you should be paying for a station based on its size. Being armed with this knowledge can help you guide the negotiation. [10:25] Chris breaks down their radio budget and shares their dollar-for-dollar return. An ideal return would be about 1:3 or 1:4 return. For someone just getting started radio, a budget of about $1,000–$2,000 per month is enough to get you started. Radio can be inexpensive but also very scalable. [12:30] For people looking to get started, their ads run 100 times per month across their stations, so people hear their ads 700 times per month. Primetime is the best time to place the ads. [14:45] The primary demographic of most wholesaling deals is people over 50. While we are living in a digital world, the demographic you want to cater to is likely still listening to the radio and watching TV. [15:45] Chris shares some of his ups and downs with radio, particularly working with endorsements. You want to get the right people to read your ads; they’ve seen the best success when they record the ads themselves. [16:50] Chris shares some of the lessons he’s learned over the past nine years in radio. Radio is low call volume with high quality, so it’s important to catch the calls live. This is one of the highest quality leads they’ve been able to generate. [19:43] The REI Radio course is part of Wholesaling, Inc. now. He was able to network with Tom Kroll and his crew through his Mastermind and is now a coach with the Wholesaling, Inc. family. This opportunity has allowed Chris to share something new with the national market — not just in Dallas – and help other people become successful. [23:00] Chris is one of the founders of the Multipliers mastermind. This was intended to be a comprehensive approach to impact the lives of the top real estate guys in the country. People change people the most, and this mastermind has created a community of some of the best guys around the country. It’s more like a brotherhood. [25:05] Real estate is a vehicle that people can use to create freedom of time, freedom of resources, and freedom of location that ultimately leads to a higher impact. Chris talks about the transition from success to significance, and how that drives fulfillment throughout the course of our lives. [28:09] For more information on REI radio, visit wholesalinginc.com/reiradio. From here you can book a call to ask questions to see if radio is a fit for you. If you’re hungry for something new, check it out! Mentioned in This Episode: Meetings Daily REIA Show REI Facebook Page Brian’s Book Interview with Scott Orbon REI Radio Halftime: Moving from Success to Significance, by Bob Buford