By Drew Heasley
I want to share some smart and efficient ways to spend your precious marketing dollars, as well as some tips for avoiding high-cost, low-producing marketing. The key is to find the marketing plan that works for you and stick with it.
1. Don’t sign a contract for a marketing program. You should never have to sign a 12-month contract for any profitable marketing program. If their product is good then month-to-month would work just fine. With that being said, don’t cancel or give up right away as most new sources of marketing for real estate take some time to get running properly. Whether its print media or online tools, make sure the system is working as planned.
2. Do have a system in place to nurture your new leads. You can get all the leads possible, but if you have no way to track and contact them, they are going to be even tougher to convert. Most internet leads don’t buy for months after they start searching online. Direct media will need a way to contact you and you’ll need ways to follow up. Have a call-to-action or another easy way for leads to contact you directly.
3. Don’t expect high conversion on paid social media. The conversion on Facebook and Instagram are very low. These are mostly window shoppers and lookers. The dollars spent on these sites are mostly for brand recognition—plus, it’s always fun to promote that hot new listing. The bulk of the agents crushing it on these platforms are doing it organically without spending much money. Google pay per click advertising will always have a higher conversion.
4. Do re-target your website visitors. If you’ve ever clicked on a link for a product and then seen ads for this everywhere you go online, then you know re-targeting. You can find out how to do this with a simple search—I promise it’s really easy. The reason this advertising method is so prevalent is because it’s the most efficient way to spend your marketing dollars. A person has indicated an interest in you or a desire to buy and sell a home; that’s the clientele we’re looking for. A perfect real life example is a home seller who searches top real estate agents in your town. They select you and two other agents who showed up in their search to interview. Now that they have been on your site, they will see your marketing everywhere they go online. This might seem annoying or intrusive, but sellers want someone who can market a home and you are showing them you are a savvy marketer and you’re keeping your name at the top of their mind.
Whichever marketing plan works best for your business may not be the same for an agent in a different region. Find what works for your budget and calculate your return for each marketing campaign. And remember, it’s important to be constantly evaluating what’s working and what’s not.
Drew Heasley is an agent with Keller Williams Exton/West Chester in Pennsylvania. Connect with him on Facebook: facebook.com/chestercountyrealtor, or through his website: searchchestercountyhomes.com.
#1 is such a great tip Drew! I agree, if a marketing company is requiring a 12 month contract it’s best to keep looking and find something else.
Thanks Drew for great share! I am also a real estate digital marketer in Minnesota. I did not realize some important things in real estate marketing after reading your post. the #4 is the thing I did not pay attention much. Hope to see more post from you in next time.