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Think Print is Dead? Think Again

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Education & Training 15067

I still have one of these in my garage!  Not really.  I'm probably guiltier than most real estate professionals in writing off print media for marketing.  I spend the bulk of my time and effort in learning more about Internet marketing and implementing technology to build my real estate business.  And, I'll argue all day that some print media is not cost effective when compared to the Web for marketing.

 

Old Double Printing Press

 

New Media Marketing

Newspaper advertisements make our sellers grin and they make scrapbooks to show their friends, but they're expensive, especially in color.  Magazines fall into the same category, especially when it can cost hundreds of dollars for a quarter or half page in a Homes magazine.  You can have 10 times the number of high quality photos on a website or blog for peanuts cost-wise.  This doesn't mean that everyone should stop the print thing, but there has certainly been a massive scaling back.  Just ask the New York Times, as they had to sell their building and lease it back to generate cash.

Radio & TV have always been expensive, but some real estate professionals had some success.  Internet radio is a new medium that is gaining some traction.  However, mostly it's being used in Business-to-Business selling right now.  Podcasting had a surge in popularity a while back, but it's faded now, even though just about everybody has a cell phone.

So, is there any of the old style media marketing that's still working out there?  Actually, those who have perfected a market strategy in a certain area, most all of that type of marketing is probably still working for them.  However, it's still expensive to do, and the average real estate professional wants to get the most bang for their buck.

Direct Mail Still Works

Direct mail has been doing better.  Here's a quote from the Direct Marketing Association's 2010 Direct Marketing Trends Report:  "Response rates for direct mail have held steady over the past four years.  Letter-sized envelops, for instance, had a response rate this year of 3.42% for a house list..."  Those real estate professionals farming subdivisions are probably doing pretty well with that type of response rate or better if they're trying to generate listings.  In fact, direct mail and farming strategies are still the staple lead generation systems for many highly successful listing agents.

Print is an Integrated Resource

Printed matter is far from a dead issue in today's real estate marketing world.  Full color property flyers/brochures are considered necessary, even if you're not using brochure boxes, as they should be placed in the home as take-away materials.  Brochures aren't the only printed material necessary to brokerage marketing.  Presenting a uniform branding approach and producing custom letterhead stationery, brochures, postcards for farming, newsletters and business cards is the integrated approach that contributes to success.

It doesn't have to be a trade-off of Internet marketing dollars for print marketing though.  What if ... your real estate website service could take the data, text, and property photos you already have placed on the site for Web marketing and produce the integrated print materials in a professional way for marketing and branding your business?  Lawyers know never to ask a question if they don't already know the answer, so:

RealtySoft Print Solutions

 

RealtySoft provides this integrated printing resource package with a long list of features and customization options.  Why take photos, create marketing text, put them into a website, then start over and do it again for print marketing?  RealtySoft's print marketing solutions for Realtors allow you to combine your efforts and your marketing to achieve success at a lower cost.  Produce your materials on demand in the quatities you want.  

See, print isn't dead, just residing in a new more efficient home on the Web.  Check it out or watch this short video (3 minutes):

 

 

Ralph Janisch ABR CRS Broker
Janisch & Co. - Conroe, TX
Selling Northwest Houston to good people like you!

I suppose that there is still some use for print media (i.e., direct mail and business cards) but over the years it seems that the thousands or tens of thousands I have spent on magazines and newspaper ads has just been money down the toilet.  On the other hand I have received good results from the internet at relatively low cost.  (But, I do all my own SEO which is very expensive if you have to hire it out.

Dec 01, 2011 03:45 AM
Janet Jones
Just Your Style Interiors, LLC - Kihei, HI
Home Staging, Interior Redesign Kihei, Maui, Hawaii

That's very interesting because I am evaluating print advertising for 2012.  Since Maui really is such a small community print still seems to work here. 

Dec 01, 2011 05:38 PM
Donald Reich
Madison Specs - New Rochelle, NY
Cost Segregation Specialist

I think that having a presence in print media is important as part of an overall branding campaign, but you should not spend too much money on it!

Dec 01, 2011 10:50 PM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I have heard that postcard hit rates are up(primarily because so many agents can no longer afford them).

Dec 02, 2011 12:48 AM
Anonymous
David Nicholson

Jim,

This is a hot topic in my market (Saint John, New Brunswick - Canada)

We are all encouraged to switch entirely to electronic media - web, facebook, active rain, twitter, etc... You are right though, that it does put a smile on the faces of our vendors when they see their home in print.

I find that I am spending less overall on print as I make the transition and more on electronic media. It is a challenge to find the right balance, especially when the market is slowing down.

Good to always look for ways to keep our advertising sharp & effective though.

All the best.

David

Dec 02, 2011 01:02 AM
#5
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

I spend significant advertising money on radio and branding.  I am endorsed by Glenn Beck and he does my advertising - amazing the amount of listing calls I get from that marketing.  Well worth the cost.   I have trippled my business and have not found the need for print media at this time.  I constantly track what I am doing and if I see a switch in trends will move in the direction that is trending.  Thanks for your post.

Dec 02, 2011 01:20 AM
Jim Miner
Miner Noh & Associates - Phoenix, AZ
Loan Modfication & Short Sale Specialist

I believe outbound marketing needs to mixed with inbound marketing in order to gain the greatest exposure.

Dec 02, 2011 01:50 AM
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Home is where the hearth is.

I actually DID have one of these in my garage for years!  And used to use it!

It's not quite as much of an antique as the image you have in your post...

direct mail will never die... but what people fail to understand is that a "good" return on your direct mail, is 3%.

And that's a GOOD return.  More common is 1/2 to 1% return.  So for every 100-200 pieces of direct mail you send out, you should figure you might get 1 single response.  And that single repsonse probably won't result in a sale.  I don't know how many responses you need to get before you can expect a sale, but I'd imagine it's a high number.

Dec 02, 2011 06:53 AM
Barb Merrill
Cactus Mountain Properties, LLC - Tempe, AZ
GRI, Associate Broker

Thanks for the second thought to print marketing.  I'll "Bookmark" this post for future reference.

Dec 02, 2011 06:58 AM
Rob Thomson
Jupiter, FL

We have moved away from magazine print ads and have embraced online media and social networks. We still do our brochures and direct mail, but even that has been scaled back from what we were doing about 2 years ago. Our clientele has pretty much dictated to us what direction to go in as it seems easier for them to work with us in these mediums. Thank you for this insightful post.

Dec 02, 2011 10:20 AM
William James Walton Sr.
WEICHERT, REALTORS® - Briotti Group - Waterbury, CT
Greater Waterbury Real Estate

If you can tell me that RealtySoft has upgraded their newsletters with more templates and more customizable topics for the newsletters, then it might be worthwhile.

Dec 02, 2011 01:21 PM
Rickey Williams
RE/MAX Ideal Brokers - Central Point, OR
Re/Max Ideal - Search Southern Oregon Homes for Sale

Thanks Jim,

Are you familiar with the U.S. Post Office's Every Door Direct Mail (EDDM)? You don't use a mailing list, just neighborhoods or zip codes, with a minimum 2000 pieces I believe, to get the best postage rates, 17 cents each if I remember correctly. No permit needed, just use the USPS indicia at usps.com/everydoordirectmail.  I'm still evaluating this and haven't tried it yet, but it sounds pretty cost effective.

Dec 03, 2011 03:32 AM