How to prepare a real estate marketing strategy for 2018
Marketing should not be something you do only for listings. You need to be marketing yourself and your business throughout the year…that’s how you get the listings! Below are some of our tried and true tips for creating an effective real estate marketing strategy.
Set a budget. I know this is hard for real estate agents, because your income varies with each listing. But a great way to start is simply by determining what percentage of each commission is going to go towards marketing. To get an idea of how much you’ll make, look at your income from last year. Create a budget based on those two factors, and then adjust as necessary throughout the year.
Example- You decide you will use 10% of each commission for marketing. Last year, you made $80,000 in commission. Therefore, you could plan for a 2018 marketing budget of $8,000. If that feels high to you, set your budget a little lower. It’s always easier to add money to the budget than to take it away.
Create tangible goals and know how to track them. How many leads do you want a month? Are you trying to increase your referrals? Are you looking to increase your listings above a certain price point? Set these tangible goals and then monitor your marketing strategies to see which ones are helping you accomplish these goals.
Example. You want 50 leads a month without having to make cold calls. So in January, you set up a regular email campaign, direct mail campaign and Facebook ads. After about 2 months monitoring clicks and asking leads how they heard about you, you determine that email is bringing in the least amount of leads. So you scale it back and use that time and money on Google Ads. After a few more months, you realize this combination is helping you go above and beyond your goals, so you commit to it for the rest of the year, while still monitoring and being open to change should one of those strategies start to dwindle.
Determine a visual brand. A consistent visual brand is crucial to real estate marketing. Some agents use their broker’s brand…the colors, the logo, etc. Others find a professional graphic designer to create a brand that is unique to them and communicates their unique value. There are advantages to both, the important thing is to stay consistent. If you already have a brand, now is a good time to review it. It is relevant to your target audience? Is it modern? Does it still communicate your unique value and they key elements of your business?
Define your audience. I know you WANT to sell everyone’s home, but realistically, you cannot. And your marketing will be a lot more effective if you define an audience and tailor your marketing to them. Many real estate agents define their audience by location. They choose a geographic farm and consistently send direct mail, door knock and participate in community events within that farm. Other agents choose to focus on retirees, while others are marketing to luxury property owners. It’s also okay to have a few different target audiences, as long as each are defined.
Create your messaging. I recently wrote an entire blog about how to create good content. While a marketing plan is not the place to create specific messages, it is a good time to determine general messaging themes and goals. For example, maybe you want your 2018 marketing to focus on why people should live in your farm specifically, or giving people reasons to list this year instead of waiting, or encouraging them to choose you over your competition. Having a general theme, or a couple themes, will help you avoid content writers block and keep your messaging consistent and powerful.
Be willing to be flexible. Real estate is an ever changing industry. It’s likely your marketing needs and ability to execute will change throughout the year. That’s okay! A marketing plan isn’t meant to be a chain, but rather a solid foundation from which to build and change an effective marketing strategy that works for your specific business!
CALL ONE STEP SERVICES! Need help creating a marketing strategy? Need to update your visual brand or create a new one? We are real estate marketing experts ready to help you grow your business. We are currently taking appointments for December and January, so please give us a call at 949-587-5301 or email email@example.com to request and appointment with Valerie, our Director of Client Relations.
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