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5 Comments on Where should you put your advertising dollars?
It makes sense to utilize the methods that don't cost us money out of our pockets. If you don't ask for referrals you are missing out.
Agree, the best advertising is "word of mouth" referrals from people who know you as relationships are the key. I continue to see benefits from using social media tools such as twitter and facebook to build new relationships and referrals. The bottom line is your local market and of course what works best for you. It is always a good idea to monitor those ad dollars for return. Next time I am in Charleston, I will look for those billboards! Good luck.
Hello Mitzi and Phyllis - I agree with you 100%. I think I've tried just about everything else and referrals and word of mouth work best.
Thanks for your comments! Emily, we use the social medias as well. As a matter of fact, another Realtor in our area wrote a very rude comment on our facebook page, jumping us for promoting ourselves on Facebook. We just simply told her that if she WASN'T using it to promote herself, that she was missing out on a LOT of business. Much success to all of you!!!
Mitzi & Phyllis.....
Look at any brand. Coke, Pepsi, Lexus, Ford whatever. They all do one thing effectively in order to "increase consumer awareness". Relatively to their product and services. They all use the power of televison advertsing to build their brands.
Granted in real estate sales and marekting. The abilty to brand ones-self is limited by scale and geographic location. However in large markets having tens of thousands of rival agents for homeowner listings. Building consumer awarness is absolute. Which leads to good marketing. Good Marketing is how any consumer views or preceives your service or product. Branding is mutli-leveled between companies and agents and its too detailed to get into here.
If your going to use the power of Televison or Billboards. Get a great 1-800-Vanity Number for name recognation purposes. I see your in West Virgina. I would suggest 1.800.WV.HOMES for several reasons. The most important reason is the average commerical is 15-20 seconds long and there's only a limited amount of time to send a powerful & effective message. Image the close of your commerical the announcer says " Call Mitzi or Phyllis today at 1.800.WV.HOMES and in the state of WV. That's a powerful adversting and marketing message. Which ultimately reduces your long term marketing cost.
Lastly.
It's important to mention the real value of your brand is what you can sale it for down the road and that is huge. Companies that don't invest in great tools that forster brands. Aren't worth anything to sale.
I have personally used 1 800 prefix vanity numbers very effective to build consumer awareness and gain termendous market share. The resale values associated with a business that has been successful with a vanity number. Are in the Million and Millions of dollars.
1.800.CONTACTS was purchased for $ 163,500 in 1995 and the company was sold last year for $ 900 Million !
Go ahead and do televison - and you will get rich !
James Steppe
1.800.AZ.HOMES