We continue our series on how to move from being a Realtor into becoming a real estate business owner. Today we discuss the changing trends of marketing in today’s real estate world.
Purpose of your marketing & advertising plan
- Create trust through your branding
- Generate business through familiarity (lead generation)
The Six Fundamentals of Marketing
- Content is King
- Provide valuable and dynamic content to your target audience
- Fulfill a need. Your content should answer some unmet need or question for your customer. It needs to be useful in some way to the customer, over and above the basic real estate service
- Use Quality and Compelling Images and Design
- VIDEO, VIDEO, and more VIDEO
- Quality over Quantity
- Be authentic – find your voice
Content Ideas to Enhance Your Marketing
- Start a blog and post weekly tips, how-to’s, market updates
- Quick tips or notes that you can upload to social media
- E-Books or PDF downloads
- White Papers
- Online videos
- Presentations and slideshows
- Flow Charts
Every business needs a budget and a method to track your expenses and return on investment. Use the WBNL Real Estate Business Plan tools to forecast and track your marketing budget. A good rule of thumb is to invest 10% of your gross revenue back into your marketing budget.
The 3-7-27 law of prospecting states it takes 3 contacts for someone to recognize your name; 7 contacts for them to associate your name with your business; and 27 contacts for them to feel comfortable doing business with you.
Use a marketing calendar or schedule to stay on track.
Keep consistent in your branding and messaging.
- Does your branding match who you are and the value you provide?
- Is there a consistent brand look & feel online and offline?
To compete and win, consider being the best in the world at one thing. What is your target market, niche or specialty? Understand the demographics and psychographics within the geographic area. Don’t try to be all things to all people.
- Strong Call to Action
Always include a call to action (CTA) in all marketing materials, both online and offline. What do you want the prospect to do?
- Call or text you
- Email you
- Fill out a form
- Click through to a website or landing page
- Go to a web address
- Respond to a survey or question
- Measure, Monitor and Follow-up
- Online – use analytics, tracking codes, tools that will help you analyze what’s working and what is not working.
- Know your Return on Investment (ROI)
- Make any modifications to your overall marketing plan based on tracking and results
- Have a solid follow-up action plan for any lead or prospect