Top 11 Marketing Budget Wastes—and How to Avoid Them
Part 1 of a 4 part series
Hopefully by now you have put together a
Take this opportunity to re-evaluate what you have been doing and how you have been investing your marketing dollars to build your real estate business. Below are a few suggestion on how to do more with less.
To help you get started, here are some common marketing budget drainers to avoid.
Marketing Waste No. 1: Customers dictating were to spend to market their house
I hear agents saying “my customers expect me to advertise in the newspaper/magazines if I’m going to get the listing”. This is nonsense. Position yourself as the marketing expert, showing your client
AgentCEO’s are showing clients innovative and effective marketing strategies like
Marketing Waste No. 2: Trying to generate only ‘qualified’ leads
Regardless of what type of marketing you use and the type of leads generated, they all have value. Attempting to reach the ready, willing and able buyer at the moment they are ready to take action is not only costly but puts you on par with every other agent trying to reach this tiny market. Move upstream. Plan marketing that reaches consumers in the thinking about moving stage. This can be accomplished by advertising information offers like “BEWARE FIRST TIME BUYER’S” guide with new home buying tips. Or, “FREE HOME EVALUATION” to attract seller inquiries.
Develop as large a pipeline of prospects as possible then follow No. 3.
Invest in lead-development software commonly referred to as CRM (Customer Relationship Management).