Do you think your real estate business is ready for the challenges of 2023?
There has never been a better time to start shaking things up when it comes to your real estate business’ marketing strategy than just before the start of a new year.
A real estate marketing plan with annual objectives that clearly outline a roadmap on how to achieve success and stay competitive in your industry is one of the most essential tools you can use to ensure your business grows.
Having an effective real estate marketing strategy aligned with your overarching business objectives for the year ahead is crucial to your business growth.
Working with a marketing agency to help you get on track and get off to a successful start in 2023 can be an excellent choice if you’re unsure of how to put together a real estate marketing plan or don’t have the time or resources.
Maintain focus with clear goals
Setting clear goals and objectives for the months ahead is key to an effective real estate marketing plan.
A coherent plan enables everything in your business to work together toward certain objectives and goals by understanding your goals and devising a strategy to reach your target audience.
Defining marketing objectives can look like this:
- Increase e-commerce revenue by 20% by December 2023 through a multichannel marketing strategy.
- Implement a tailored SEO strategy by end of December 2023 to achieve page 1 rankings for selected keywords.
- Raise awareness of product offering to customers and new prospects through targeted marketing communications such as campaigns to establish business within a new industry segment.
In order to achieve business success and growth, it is imperative that any objective set for your business can be tracked and measured.
This allows you to track performance throughout the year and be flexible with your marketing strategy to achieve growth and success throughout the year.
Develop an industry position
It is important to understand that completing an industry analysis will provide you with a clear understanding of your position within the industry as well as how you compare to your competitors.
A competitor analysis will give you a better understanding as to how your product offering compares to their product offering, who they are targeting, and how they engage with the target audience.
Based on the current market conditions, this helps identify any potential opportunities for growth or risks in the future.
As a result, you will also have a better understanding of new trends in the industry, which will allow you to plan in advance.
After you have determined your place in the market, it is imperative that you review the message and statement that you are going to use to promote your Unique Value Proposition (UVP).
The UVP message outlines clearly what your business does and the benefits it achieves in the process.
As a business or brand, you need to create a unique value proposition statement that explains the benefit of your offer, what you do to satisfy the needs of your customers, and who you are targeting.
Know your market
If you want to understand the behaviour of your potential customers, you need to draw up a marketing plan.
A good real estate marketing strategy will feature profiles of the ideal clients for a business or what is called “ideal client avatars.”
A target audience breakdown includes information about its demographics, personality, goals, and values, as well as a description of the challenges and frustrations encountered by your target audience.
By doing this, you will be able to gain a deeper understanding of your target market and its motivations for buying.
Also, it provides you with the opportunity to tailor your messages in a way that is both catchy and relatable so that your audience will be drawn to your message.
Multichannel marketing
There are many ways to reach your target audience, and one of the best ways is to use a multi-channel marketing mix, since each customer or prospect consumes content differently, and this allows you to implement a single marketing strategy across various channels.
To support the marketing strategy, it is essential to outline the key marketing activities that are necessary to support the marketing plan.
An investment will be made in several marketing channels that will be tailored to the objectives in order to achieve the objectives.
Budgeting for better ROI
In fact, it is estimated that over 38 per cent of companies rely on marketing to drive revenue growth.
Creating a marketing plan and planning ahead prior to the start of the campaign will allow you to set a budget that is realistic.
In addition to ensuring the goals and marketing activities selected are achievable, it provides a clear indication of which marketing activities should be prioritised and allows you to keep track of the amount of money being spent on marketing.
Whenever marketing activities are initiated, it is essential that they are regularly monitored and that the performance of each deliverable is analysed to be able to make informed decisions about the marketing strategy once the marketing activities have begun.
Taking a look at the metrics will assist you in identifying which activities are performing well. In addition, those areas need to be reviewed and adapted to ensure they are performing well.
This ensures you will yield a stronger return on investment, as you are adapting and being agile with what is working and what isn’t for your real estate business.