marketing-strategy

Top Local Business Marketing Strategies Revealed By New Report

marketing-strategyFinding a marketing strategy that works for your real estate agency often involves a lot of trial and error. New research that’s emerged in the business market, however, has found the #1 highest performing strategy that any local real estate agency can use.

The study, which surveyed just under 4,000 global businesses, has answered the question that’s been plaguing thousands of real estate agents – which is the more effective way to market my real estate agency, inbound or outbound? Take a look at the stats below to find out:

1. 75% of marketers globally favour inbound marketing vs outbound marketing

What’s the difference between inbound and outbound? With outbound, you spend your time hammering away at your audience, trying to get them to listen to you with methods such as advertising and direct mail.

With inbound, however, you attract leads by presenting them with value, which they receive in exchange for giving you their contact details.

For more information on the differences between inbound & outbound marketing, check out our article on A Practical Example of Outbound vs Inbound Marketing You Can Use.

2. Regardless of focus on inbound or outbound, the most overrated tactic was paid advertising

Although it was voted as overrated, this doesn’t necessarily mean it wasn’t still effective. Paid advertising can make up an integral part of any marketing strategy, but it’s not cost-efficient if used as a standalone option.

Paid advertising, instead, should be used as a supplementary method of driving additional traffic to your listings and site. It shouldn’t be solely relied upon.

Want to know more about paid advertising, read our post on How do Google Paid Search Results Work.

3. An essential aspect of marketing strategies is tracking your ROI and setting your budget accordingly

Despite the recent technological boom, businesses are still reluctant to start tracking their ROI (Return On Investment). Although the majority of companies now have a marketing strategy that incorporates digital channels, analysing the leads that are generated for each dollar spent is something many are lacking in.

Tracking your ROI will help you to make better budgeting decisions in the future. It’ll also help you to identify which channels are most effective and might even hold some surprises for you. By knowing this, you’ll be able to reinvest in the highest performing areas of your marketing strategy.

4. All experienced marketers knew that inbound marketing is a long-term strategy

Although short-term results are possible from inbound marketing, the survey showed that experienced marketers knew that the strategy required time and dedication before it would gain full traction.

By analysing the previous decisions that had been made, marketers are able to make more educated choices in future, therefore boosting the results they see from their efforts.

If you want to know more about inbound marketing, make sure to read our article 4 Things Small Businesses Must Do To Succeed With Inbound Marketing Faster

5. Regardless of company size and budget, inbound marketing produced a higher return on investment than outbound

Although it takes longer to generate results, inbound marketing produces a significantly higher return on investment than outbound marketing. By creating materials that your audience deems as valuable to them, you’ll be able to build trust and brand authority within your market that lasts for an extended period of time.

With outbound marketing, your results are going to grind to a halt as soon as you stop paying.

If you need assistance with putting together a strategy for your website and social media content, check out our guide Step-by-Step Content Marketing Strategy.

Interested in more inbound marketing tips for your real estate agency? Take a look at our blog today!

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