A question that could so easily have compromised my integrity – Landlord’s LogMake Text Bigger
I was asked a very interesting question last weekend on an internet forum for landlords. The commentor was asking whether I thought he should invest into building a website and what the alternatives were. What I really wanted to say was that he didn’t need a website providing he had a Gold listing in the Property118 Directory and plenty of customer testimonials. That wouldn’t have been fair though as it’s a non-commercial forum so I decided to answer the question as independently as I could. This was my answer.
There are around 27 million websites worldwide. Just think about the time and money that have been invested into creating them all. It’s a common misconception these days that every business needs a website. There are, however, lots of successful businessmen who have done very well for themselves without one. Building a decent website involves a lot of time and/or money and there is plenty of evidence to show that some businesses do very well out of doing so. However, building a super-duper website does not mean that it will attract visitors or get you any more business.
Think about the research supermarket chains do before they build a new superstore. They know well before they lay the first brick pretty much exactly how much it will take and how much profit it will return. Most successful businesses do the same, some just get lucky. That’s why supermarket chains choose not to open stores in the North Pole or in the desert. Sadly, many businesses don’t think things through properly before they build a marketing campaign. They rely on a strategy of hope and luck. They have websites designed to please them but that doesn’t necessarily mean that their ideas please the majority. You can never please everybody all the time of course.
Having spent a lot of time and money on building their websites they then get disappointed when they don’t get business from it. They then make the classic mistake of spending even more money advertising their website instead of just advertising their business.
I can’t tell you whether you should or should not invest into a website, that’s a choice you need to make for yourself. If it’s exposure you want, normal business principles apply. You need to invest your marketing budget where you will gain maximum attention and a maximum return on your investment.
Mark and his family have been investing in property since 1989, initially in the Norwich area but more recently across the length and breadth of England. Mark created Property118.com as a social network for landlords with a vision of becoming the UK’s largest online property investor directory.
Mark’s experiences and strategies as a landlord are shared here
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