Have you taken the time to ask yourself if your real estate agency needs to redo it’s marketing strategy? Perhaps you don’t even have one and are looking to build a watertight marketing strategy for your agency.
Don’t worry, all you’ll need to get started is some basic business acumen – so throw all that “expert” knowledge out the window, because you won’t need it.
If this is you, then look no further than this page – we’ve got the top 5 tips for marketing strategy makeover. Follow these tips to find out how to reach clients through online campaigns, social media marketing and high-converting web pages.
1) Getting To Grips With The Market
When you decide to invest in a property, the chances are that you’ll already know the kind of buyers who are likely to be in the market for said piece of real estate. It’s crucially important that you get to grips with the market though, as they will be your potential sellers.
You need to look past obvious traits to find out how the customer might think, feel and act. You can do this by figuring out their potential desires, their hopes and fears, as well as what they dream of.
Get out there onto forums and comment sections to find out what the potential clients are into – this will form the basis of how you’ll target the ideal client. It’ll also help you to identify the gaps and pitfalls to your agency service.
2) Added Value
Many agents will do what we like to call “selfish” marketing – this makes it all about them and not the customer. Advertising material tends to talk about themselves and not the client – aiming to meet their own needs and goals.
Try to encourage clients into buying mode, by meeting their need for information. If you can reach a broad market with concise and engaging media content, you’ll inspire them onto your side. You can do this through free reports, cheat sheets, seminars and videos, as well as many more.
Giving a potential client this kind of information will add value to you reputation and more likely bring them on side.
3) Working Across Channels
The most successful agents will work across different sources when it comes to generating leads. The reason for this being that if one channel fails, you’ll have a contingency that will prevent your business from suffering the consequences of an error of judgement.
The easiest way to do this is to begin with one channel such as Google AdWords, and then build it up to include more such as Facebook Ads, LinkedIn etc. you’ll want to have a clear idea of what your cost per lead (CPL) and cost per acquisition (CPA) are however.
4) Using Unit Economics
Many business owners will make calculations based on incorrect metrics. It’s super important to know the difference between CPL and CPA – as well as lifetime value (LTV). The need to make this distinction is so that you are able to make accurate calls on what is working and what might not be.
The best thing you can do is to look at revenue per client, and then revenue over a time period – then divide this number by the number of clients that you had during the same period.
5) Calculating Lifetime Values
When it’s time to start thinking about increasing your investments, you should identify services that you can add to a client’s sale. You can do this now, or offer it to them for the future.
By doing this, you can justify the amount that you’re spending on new client acquisition, because you’re making more money from a single client in the long term.