We often hear from our clients in the Real Estate industry that they have tried various advertising options in the past but have been frustrated by poor results. When we drill down into the detail, there are usually common reasons as to why this is. Assuming that you have all the basics in place (a good product, a great website and a sales team on hand ready to answer calls) then it is typically one of the factors below that is holding back the success of any marketing activity.
Understanding all your advertising options: Do your research or be prepared to fail.
With hundreds of marketing options available, from banners, to mailshots, to paid advertising, to TV… it’s vital to make sure you are carefully researching into the audience demographic of each advertising product to ensure it is perfectly matched to the products or service you are promoting. For example, advertising in a mailshot that receives a 20% click through rate might on the surface seem like a great option, but if their audience demographic is too general, not based in the correct geographic location, or they are only interested in a different niche of property investment, then it probably won’t bring you a great level of relevant leads. Taking the time to look into each platform audience will give you the best possible chance of success and allow you to match products that perfectly suit your ideal target customer.
Be realistic and sensible about what you can afford.
When choosing a monthly marketing budget, consider carefully how much you can actually afford and keep in mind what one client sale would mean to you (in terms of value). Spending too little will not allow you to properly test that form of advertising (which often results in companies making an assumption it isn’t working and giving up too quickly) and spending too much is wasteful. With most advertising options in the Real Estate industry, typically £1500 – £2500 is a good budget to properly test a particular advertising product, (but only if you adhere to the other points listed here).
Be creative in your approach.
Unfortunately, long gone are the days where sending one single mailshot to a database that has never heard of you will create an influx of hundreds of calls. If you are still relying on this method, it’s definitely time to bring your marketing up to date. Today’s customers are far more demanding, sophisticated, and untrusting. You need to build your brand, establish trust, showcase your expertise, and give amazing value. You will then be in a position to generate good quality leads.
Keep on top of your results.
Take advantage of the myriad of free marketing tools at your fingertips to ensure you have a firm grip on what’s working and what isn’t. Use split testing on paid adverts, mailshot subject headings, banner adverts and landing pages. Keep a close eye on your website’s Google Analytics. Calculate the ROIs every month on all different forms of marketing, so that over time your results will improve as you understand which methods and approaches are working best for you. When you have that information, you can scale up and really start to see results.
If you would like to save time with the research involved in finding which advertising products perfectly match your company’s service / product, White Finch would be happy to do all the leg work for you, for free. Simply give us a call and tell us all about your ideal target customer, and will we create a bespoke advertising proposal for you from the hundreds of products available across the industry. Call 0118 344 0118 or email [email protected]whitefinch.com