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Marketing costs can impact the bottom line
to the point of killing your success. You probably know agents whose gross is
very high, but who is struggling to make ends meet because their promotional
costs are so high. In business, you must carefully assess your marketing costs
versus return on these investments. After all, the net is the ultimate measure
of how your business is doing. If you focus
your promotional and marketing efforts on the most likely people to do business
with you, on those who already know and love you and those areas where you have
some instant credibility and you’ll increase your return & results. Going
deeper and narrower is the mantra of the successful marketers. Niche marketing
is less expensive than being a generalist. Here are some
ideas to use to market smarter: Top Ten List for Marketing Smarter Create
Events To Build Relationships Kathy Girgenti of Keller Williams in Houston planned a mixer in her farm area that was be held at the community center with line dancing lessons. She invited 500 homeowners. Events like this give opportunities for multiple exposures. The initial invitations, the event itself, the follow up (the idea of having folks bring a can of food for the food bank and a press release crediting the homeowners was suggested) combine to raise name awareness and value. Website
Marketing Now you have a site, how do you drive
traffic and prospects there? Bill Tilghman
of RE/Max Tricounty in NJ shared his success in using the software
Webposition to increase his ratings
in the search engines. He also recommended Webcards to raise the awareness of
his site with mailings. These are postcards with a full color picture of your
website. Mal Duane of RE/MAX Realty Associates in New Jersey also uses Webcards
with success and reports results from putting her URL on everything marketing
piece she uses: from name riders to business cards, flyers, etc. Problem
Solving Postcard Campaign Pat Argo of RE/MAX Aerospace in Titusville,
FL developed a campaign with success stories, detailing a common problem one of
her buyers or sellers might face and how she has recently solved it for one of
her clients. This combines the power of third party endorsement with value
adding for the client! Targeted
Newsletters For Small Target Markets Personalized, one-on-one marketing pieces
increase your credibility and your expertise an the authority. You become the
GURU! Sandra Kane of Bosque Farms
NM focuses on the metaphysical community and specifically the Buddhist community
that she is part of. A newsletter that appeals specifically to topics that are
of interest to this sphere of influence brings her clients Charity
Ties Can Increase Value with Socially-Conscious Groups Bill Tilghman shared how effective the tie
in with the Children’s Miracle Network has been. Making certificates for the
clients so they are aware they made a contribution possible is one way of
levering this more fully. What charity might appeal to your target market? Or
are you willing to donate, say 5%, to the charity of the client’s choice? Virtual
Open Houses Mal Duane is using more virtual tours and virtual open houses. Think of how much easier you make it for agents to see your listings and how many more people will be able to preview without leaving the office or their homes. I especially like the $25 tours available through VisualTour. Create
a Special Program with Higher Standards Kathy Girgenti says she uses specific
criteria to determine which will be marketed by virtual tours. Calling it a
special program with higher standards than most listings, this encourages the
sellers make some repairs or concessions they otherwise wouldn’t. A special
program can contain the criteria you want for the “premium” listings.
Offering a decreasing commission amount based on the time on market is another
way to present this strategy. Sellers
Alliance Program Mal Duane uses a program with FSBO’s
designed to give them free marketing tools to help them sell their homes. They
will benefit from use of a free 800#, email broadcasts, exposure on her website.
Becoming the resource for them results in many listings as well as buyers. She
has positioned herself as having value and helping instead of wanting something
from them. Very attractive! Focus
on Marketing to Other Realtors After all, most of the buyers are generated
by co-broking. Knowing the top agents in your market and in your niche and
directing your marketing dollars to raising awareness of your properties and
your professionalism will reap business. Try sending a gift to the participating
REALTORS® each time they sell one of your listings. Emailing hot
listings or virtual tours can increase the ease with which other agents gain
knowledge of your listings. How can you make it EASIER for the agents? International
Markets Kathy Girgenti has recognized the trend that
is happening everywhere of more global interest that has especially accelerated
with the ease of finding information over the Internet. She’s building a
package of services to fit the specific needs of these international buyers.
Bill Tilghman shared Bablefish, the resource for translating easily. Guru
Marketing Here is the Extra Added Tip: Become
THE authority for your market. Know more, give more, create yourself as the
GURU! Smart
use of your marketing dollars will make your business stronger. Try several of
the tips above and increase your Guru status for increased results in the next
few months! What’s the highest and best use of your marketing budget this
month? |
