Technology And Marketing For My Business, How Do I Spend $500/Mth?

Technology And Marketing For My Business, How Would I Do $500/Mth?

The tools, training and systems that are the essential backbone and core of my real estate business include:

1. Virtual Web Hosting (www.Verio.com) $89.95/mth (www.LiveInAnnapolis.com; Multiple Niche Websites)
2. IDX (www.IDXBroker.com) $39.99/mth (Lead Capture, MLS Search, etc. for My Websites)
3. ActiveRain Rainmaker (www.ActiveRain.com) $19.00/mth (My Outside Blog www.annapolis-blog.com)
4. Wordpress (www.Wordpress.org) $0.00/mth (Free Software for Blogging, etc.)
5. Craigslist (www.Craigslist.org) $0.00/mth (Free Advertising For Lead Generation, Listing Promotion, etc.)
6. TopProducer CRM (www.TopProducer8i.com) $44.90/mth (E-mail Drip and Automatic Follow-up Plans)
7. SmartPhone/Cellular Service (www.Verizonwireless.com) $160.50 (Umbilical Cord to CRM, e-mail, etc.)
8. Direct Mail to Expired/Withdrawn Listing $100/mth est. (Varies Month-to-month, Like Fishing in a Barrel)
9. Virtual Fax Machine (www.efax.com) $19.95/mth (Less Important with www.docusign.com)
10. Gotomypc (www.gotomypc.com) $29.95/mth (Remote Access to Home and Office Systems)

And the total budget is $504.24 per month; so I've come in $4.24 over the $500 per month limit.  But, this is the list of technology, advertising, and marketing that I can't live without.  It outlines the ten most important components of my business, along with the actual per month costs, that are at the heart of my successful real estate business.  My strategy and mantra for 2012 has been "do more while spending less".  I'm still learning how to really make what I have work; especially before adding something new.

Training, Coaching, And More

One of the most important investments I made in August of 2011 was in the Internet Marketing Specialist Designation. IMSD is a proven online training program that has helped me focus on and grow my real estate business through effective Internet lead generation. The initial one-time investment was $599 (although I think I got an promotional discount) and will cost $149 per year for an optional renewal giving me on-going access to the program and new training materials.

Budget Increase of Ten Pecent (10%) for 2013

If I could increase my budget by ten percent (10%), from $500/mth to $550/mth, I'd have to play the "red light/green light" game and decide whether to add more money to what's working or start spending on something that's missing.  I sincerely think that print advertising is no longer cost efficient; so I don't think that I would invest there.  However, direct mail farming may still be effective depending on what's being sent, when and to whom.  I would most likely add more direct mail with smart targeting; mailing to homeowners who purchased 7 to 11 years ago and might now be thinking about moving.  I would like to anticipate who is going to list their home for sale following the 2012 presidential election!!!

Advice and Counsel

My advice to both new and experienced real estate professionals is:

1. Stay focused on what is working in your business
2. Fix what is not working, but figure out why before switching to something new
3. If it's not working, figure out why and attempt to fix it, before switching to something new
4. Don't be distracted by the latest gadget, gizmo or thingamabob
5. Become a student of success, observer what others are doing at www.activerain.com/real-estate-marketing

There are many models of success in the real estate business.  What works for one agent may not work for another.  What works in one market may not work in another market.  With a $500 per month budget (or $6,000 per year) that is truly the essential technologies and marketing needed to keep my business thriving.

This post is an entry for the $500 Real Estate Marketing and Tech Challenge. Learn more about this ActiveRain contest at www.activerain.com/marketing-challenge.