Colorado Springs is NOT one of the 10 best real estate markets right now, but I thank God for our steady and faithful client base in these lean times. However, times are tough and we have to cut the budget and tighten the belt. One of the places we have to show some wisdom is in our advertising budget.

It's my opinion that when things are slow, you have to market better and more...but be careful where you spend your dollar. For instance, in a strong market where there is plenty of steady income flowing in, I may dedicate much of my 30% advertising budget to name recognition sources, such as local radio ads, print ads, grocery cart photos, etc...

In this market, it's more important, in my opinion, to generate actual leads. Some of the places we've been spending more is in internet advertising, (web optimization, relocation capture leads, etc...), and some of the places we've cut back have been local print ads and Open Houses, for instance.

If you're in a "not so great" market area right now, what are some of the things you've been doing to make your ad money pay?

 Your advertising dollar is one of the key pieces to the puzzle!!!

 

4 Comments on EXPENSIVE VS. LOW COST...MORE BANG FOR YOUR AD BUCK

Here in Minneapolis, all brokers use "OpenHouse.com" and our local newspaper have fallen off the preferred list.  In asking open house attendees where they have found the Open House information, they all say:  "The Internet". 

I have done research on advertising on the internet.  I simple cannot afford to compete with with "big guys" in our area.  Buying key words on such engines as "google" is far beyond my budget. 

 

Espensive VS Low Cost...very much low cost, but I have been active in my book clubs, churches, schools, etc.  It is very much a time to be "in" the community.   

 

11/07/2007 02:40 PM by Pam Erickson (Coldwell Banker Burnet)


Hi Pam...you may want to look into SEO, (Search Engine Optimization), that way you can take advantage of the web stuff, but not have to pay per click. It costs money, but only one time...

11/07/2007 02:56 PM by Lania DeMers, Broker Rocky Mountain Realty Co. (Rocky Mountain Realty Co.)


Good food for thought and wise contributions.  Though I'm not a stager, I've become a bit more sensitized to their value since I've been on AR and adding one to your listing team wouldn't hurt anyone.

11/07/2007 03:28 PM by Keith Stoller (San Joaquin Bookkeeping & Tax Services)


Thank you for the comment on my post Tip #2 know your inventory. 

One of the things I like to do is to deliver seasonal items to my sphere.  Next week I'll deliver turkey basters which you can pick up at the dollar store (approx. 50 cents) or a nicer one at Target (approx. $1.00).

11/08/2007 04:23 PM by Mary Ann Grafft (Keller Williams Realty)


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Real Estate Agent: Lania DeMers, Broker Rocky Mountain Realty Co. (Rocky Mountain Realty Co.)
Lania DeMers, Broker Rocky Mountain Realty Co.
Colorado Springs, CO
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Rocky Mountain Realty Co.

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