In today's real estate environment Realtors are struggling with how to expand or even keep up with their marketing and find a way to save cost. Two key ares Realtors focus on are:
Realtors and Small Business Owners in general know the key to getting people in the door is to get their name out their. However, the first aspect of the budget cut in tough times is advertising without asking the question, is there a way I can actually expand my marketing and advertising and still cut expenses? The answer is of course, It's Possible!
This can be done by first creating a marketing plan that ensures your Brand tells a consistent story. Does it motive the community you are trying to sell to? Once you have that, you can start with a simple blog, that is free, just like this one. The investment here is time.
The next question is to ask is how am I going to drive traffic? Of course the more you blog with consistency your brand will build organically. However, to get real traffic to your door some advertising must be considered. I recommend taking advantage of Social Networking sites such as Facebook, Myspace, Boomj and Activerain. This will all help in building your online brand and again it can be done for Free! Time is the only thing it is going to cost you.
Now that you have taken care of the Free aspects, look at what we have saved. No web-site cost, No print advertising cost, which we will estimate at $500.00 a month. Though many Realtors now they are paying much more then that and why many Small Business Owners avoid it.
The next step is to look at what expense you are willing to pay to get your name out there? Do you think spending less then $100.00 a month is worth it? Remember we just saved you $500.00. Your answer should be, depends on what I am getting? So if you could get the following would you find it valuable?:
This is possible, contact Kelly to see how. Better yet, if you act now, we currently have a promotional package that gives you approximately 10 months of advertising, up to 50 zip codes for less then $20.00 a month. But you have to act today, this promotion expires soon.
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Kelly - this is good information and I like how you incorporated Realtors and Small Business as they are basically the same, yet I run into many Realtors who think they are just sales people.
Cutting costs while continue to market...many are feeling this challenge right now. The key is to know where your marketing dollars are being spent effectively. Always ask someone how they heard about you, the property they're calling about, etc. Could be that tiny little classified ad is outpacing that full page glossy ad in a real estate publication. Also, just about any book about how to run a business will tell you, when revenues are down, don't cut marketing and advertising. Either maintain the level or increase if possible. Yes, I know that's easy for a company like FedEx to do, but taking your marketing budget to zero right now is a huge mistake.
And I agree with Kelly--social networking is important as are the many free resources on the Internet. A major local paper in my area is now offering free classified ads, but you have to submit them online. Be creative in your marketing, particularly if you have an extremely unique listing. One client of mine currently has listed the home used in the filming of the movie, Fried Green Tomatoes. Now that's a PR AND marketing goldmine! Through my pitches to area publications and reporters, she's had the listing featured in 3 publications to date with more on the horizon.
While talking about public relations, I find, over and over, that Realtors and even brokers don't really understand what PR is, how to get it, how to utilize it, why it's important, etc. PR is far cheaper than advertising because the cost only involves the time and/or money to have someone create a news release and/or unique story pitches to approach the media. More than 75% of the news you read in the paper is what I call canned news--news the publication would not have known about if it were not for a news release. With shrinking staffs, media outlets can't possibly know about every new home community, professional or civic award, record sales month, expansion, unique new listing, fund-raiser, etc. That's where the PR comes in. I have agents who are such huge believers in this, they try to find something for me to promote every month or two. One client even coined me their "PR Secret Weapon."
I encourage agents and brokers to learn more about this highly under-utilized area.