When it comes to marketing there seems to be a gap between expectations and reality. Real estate professionals and construction often ask where they should advertise in order to have them results tomorrow. Should they try radio or TV or make some publication? It is very interesting that the answer could be all or nothing as it depends directly on goals and objectives of the company.
In order to help you to decide where to spend your marketing dollars here are presented several advices that will be very useful for real estate agent.
– You should always define your target market. It is very important for real estate agent to decide which markets are appropriate for your strengths and stay focused in these chosen areas. It is well known that if somebody tries to be an expert to everyone then he/she probably be good at nothing and lacklustre at everything. Most companies would be better off identifying market sectors to target and remain focused on these specific niches.
– It is very valuable for real estate agent to establish his/her budget. Another important thing you have to deal with is to know what you have to work with. If you determine what you can spend it will definitely help you when it comes time to decide what investments are most likely to produce the highest possible returns.
– You should set realistic goals. There is a huge amount of companies that have unrealistic expectations when it comes to marketing and abandon campaigns before they're allowed to work. Let’s take the example, some company may send out 300 brochures and then decide that direct mail doesn't work because they didn't get any inquiries but it may take as many as 36 contacts with a prospect before they even recognize your name. Remember that marketing is not a sprint.
– You should action and develop an implementation plan for marketing. If you know the prospects you want to reach, it's high time to decide how to position your company so that prospective clients in your target market will want to call you when it's time to hire for construction or real estate consulting services. It necessary to search for what they read, where they network, whom they use for other services. Knowing all of these facts will help you to decide where to spend your marketing dollars.
– Never forget your existing clients. It is always weird to watch companies are spending so much time trying to get new clients while their existing clients are waiting to work with them. It is usually a lot less expensive to get work from existing clients than it is to get work from new ones, yet discounts and incentives are often given to those we've never worked with previously. You should keep in mind that it is really important to give the breaks to existing clients and have a plan to keep your name in front of them.
In conclusion it must be added that expectational real estate marketing doesn't have to be expensive to be effective and even the best companies actually spend less than their competitors and yield significantly better results.