In such a competitive market, attracting buyers or sellers in the property industry can be a challenge. Here are top 5 tips for successful real estate marketing.
1. Know your customers
The service that you offer is not about you, it’s about your customers or prospective customers. Any marketing efforts should be directed to your customers. For example, a real estate flyer design needs to appeal to your customers. If you sell premium, top-end property, your advertising or marketing flyers should reflect a premium look-and-feel. Even the paper that your brochures or business cards are printed on should be premium.
Knowing who your customers are will also help you decide on how to promote your business. If your customers are local families, letterbox distribution and advertising in the local paper would be ideal. But if your customers are investors, a more ideal channel would be investment magazines or websites.
2. Consistency and frequency
Never expect a huge response from just one advertisement or one letterbox distribution. Any form of marketing or advertising takes time to build the brand. A regular letterbox distribution in your local area, say once a month, would make an impact after approx. 3 months. And gradually as the demand or need is there, customers will remember to contact you.
3. Great design = great results
Your customers are always seeing your competitor’s advertising, so your business needs to really make an impact. How? A great design of course! A flyer design that really stands out, a website design that sells your business well, or brochure design with a difference.
4. Work our your return on investment (ROI)
Allocate a yearly or quarterly marketing budget, and work out what your expected ROI is. For example, if you have say, $10,000 marketing budget for next year, how much incremental revenue or customers will you get from spending that much? And how will you get this? It’s important to have a goal or objectives for every marketing dollar you spent, even if it’s just for branding.
5. Stay strategic
Focus on your goals and stay strategic. We all love new quirky ideas, but it’s always worthwhile to sleep on them. An example is advertising on coffee cups, or sponsoring a local event. How much will this cost? Does this align with your long term objectives? Will it really give you an ROI that you need?