In the latest episode of the Raising Private Money podcast, Jay Conner, the Private Money Authority, embarked on an illuminating discussion with Jason Wright. Wright, a seasoned expert in digital marketing automation, shared his journey and deep insights into automating the capital-raising process—a vital skill for real estate investors looking to scale their business. Drawing from his experience working with 185 different capital raisers, Jason dissected the intricacies of building relationships and expanding one’s network for automatic capital generation.
The Genesis of a Digital Marketing Expert
Jason Wright’s foray into digital marketing automation began serendipitously. Initially unaware of what capital raising entailed, his work with an early capital raiser led him to a burgeoning niche that lacked robust automated solutions. As opportunities mingled with curiosity, Jason’s proficiency grew, enabling him to craft solutions to meet the capital-raising community’s unique needs.
Diverse Asset Classes: One Size Does Not Fit All
Wright elaborated on the broad spectrum of asset classes his clients worked within. While multifamily units, self-storage, and RV parks are commonly associated with capital raising, the field is expansive. Single-family homes, hotels, car washes, and even almond farms have found their way into syndications. Jay Conner’s experience further highlighted the versatility within the field, reflecting on his history of single-family home investments.
Building Relationships: The Heart of Capital Raising
Automating the capital-raising process begins with understanding where potential investors can be found. Wright emphasized that LinkedIn remains the preeminent platform for accessing networks of accredited and non-accredited investors. Organic relationships, often built through personal networks, play a crucial role, though online avenues like YouTube, Facebook, and Instagram are also significant.
However, according to Wright, nothing trumps the efficacy of face-to-face interactions. In-person meetings, though less scalable, foster deeper connections. Once these connections are made, nurturing them through email marketing becomes paramount.
Crafting an Automated Marketing Funnel
Leveraging email lists is the cornerstone of Wright’s automation strategy. On joining an email list, prospective investors enter a well-orchestrated sequence of communications. The process, often initiated by capturing a new lead through various forms on a capital raiser’s website, focuses on value-based engagement.
Stage 1: The Welcome Series
This initial series, known as the “Welcome Series Automation,” introduces new contacts to the capital raiser’s story, wins, and value proposition without pitching any investments. This phase is akin to the dating phase in a relationship—laying the foundation of trust.
Stage 2: Education and Engagement
Subsequent automated sequences provide deeper educational content about the investor’s operations and motivations. Communication shifts from pure storytelling to nurturing curiosity and interest in the investment opportunities ahead.
Stage 3: Call to Action
After roughly a week, the automation includes a call-to-action, often encouraging the prospect to book a call and delve deeper into potential investment opportunities. It’s a meticulous journey designed to transition a cold lead into a warm prospect.
The Power of Multi-Modal Communication
While written emails form the core of the communication strategy, Wright utilizes varied formats, including videos, text messages, and even ringless voicemail drops. Engaging on multiple fronts increases the chances of maintaining top-of-mind awareness, which is critical in a market inundated with continuous marketing content.
Achieving High Open Rates
One of the standout metrics in Wright’s approach is the significant email open rate, boasting figures in the high seventies. This achievement is anchored in effective subject lines that tap into curiosity and relatability by addressing real and sometimes painful experiences—elements that resonate strongly with the audience.
Common Pitfalls in Capital Raising
A critical insight Wright shared was the inherent mistake of approaching capital raising as a direct sales process. Unlike typical sales, raising significant capital requires building and nurturing genuine relationships. Attempting to sell investment opportunities to strangers without building rapport is a strategy doomed to fail.
Going Beyond Capital Raising
In addition to capital raising, Jason and his team at Intentionally Inspirational provide comprehensive full-stack marketing services. From lead generation to constructing landing pages and managing CRM systems, his agency’s breadth of expertise caters to diverse business needs.
Conclusion
Summing up the episode, Jay Conner echoed the importance of patience and genuine engagement in capital raising, likening it to courtship rather than a transactional endeavor. As investors traverse the nuanced path of raising private money, leveraging automation tools and building deep relationships remain the keystones of success.
10 Lessons Learned in this Episode:
- Welcome & Introduction
Jay Conner introduces himself and the podcast, emphasizing the focus on raising private money for real estate deals without directly asking for funds and teasing the importance of automation.
- Guest Overview
The introduction of guest Jason Wright highlights his roles as a speaker, author, entrepreneur, and digital marketing expert with extensive experience in automating capital raising for 185 different capital raisers.
- Podcast Purpose
Explanation of the podcast’s mission to mentor real estate investors on raising and leveraging private money to maximize profits on every deal through strategic insights and guest experiences.
- Guest Welcome
Jay Conner welcomes Jason Wright warmly, setting the stage for an in-depth discussion on automating the capital raising process.
- Journey to Automation
Jason Wright shares his unconventional entry into digital marketing automation, detailing his progression from accidental involvement to becoming a specialist in the niche, influenced by notable individuals like Hunter Thompson from Raise Masters.
- Building Relationships
Emphasizing that successful capital raising hinges on building, nurturing, and maintaining strong relationships, much like any other business, highlighting it as a foundational element.
- Capital Raising Focus
Insightful dialogue on the diversity of asset classes capital raisers focus on, including commercial projects, single-family homes, self-storage, multifamily units, and unique investments like RV parks and almond farms.
- Automation Process Explained
Jason Wright outlines the detailed steps of automating capital raising, from attracting potential investors to nurturing relationships and converting interest into investment through structured email campaigns and strategic communications.
- Email Marketing Strategies
Description of leveraging email marketing automation, crafting engaging subject lines, and using multi-channel communication (including video and ringless voicemail) to maintain investor interest and build trust.
- Importance of Authenticity
Highlighting the role of authenticity in investment relations, encouraging real stories and transparent communication to foster genuine connections, build trust, and attract long-term investors.
Fun facts that were revealed in the episode:
- Jason Wright’s automation process helps capital raisers nurture new relationships, leading to a call-to-action for booking calls within about a week of entering the email list.
- To increase email open rates, Jason Wright utilizes curiosity and negativity in his email subject lines, achieving impressive open rates as high as 70%.
- Jay Conner has successfully built relationships with 47 private lenders, none of whom had prior knowledge of private lending before meeting him, showcasing his ability to educate and build trust.
Timestamps:
00:01 – Raising Private Money Without Asking For It
03:48 – Raising capital for single-family houses since 2009.
07:31 – LinkedIn is crucial for networking and growth.
11:35 – Diverse marketing strategies help engage the audience effectively.
14:37 – Customizable foundation for communication with subscribers.
16:44 – Tools can score subject line open rates.
18:27 – Connect with Jason Wright: https://intentionallyinspirational.com/
https://www.capitalraisingautomations.com/
22:08 – Raising capital is not about selling deals.
24:20 – Building relationships takes time before taking action.
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