Not all real estate marketing methods are equally effective or equally affordable. Let’s face it: some marketing methods are downright unaffordable. We’re not saying that the more expensive marketing strategies aren’t worth it in some cases. We are saying, however, that they should be used carefully and perhaps sparingly. Below, we’ll cover 5 of these high-cost marketing strategies and offer advice on finding some potential alternatives.
Expensive Real Estate Marketing Methods
Are you looking to cut down on how much you spend marketing your business? If you don’t have a huge advertising budget, marketing heavily with any of the 5 following methods will burn through it in no time:
- Television Advertisements
Advertising on television is typically the most expensive form of marketing. To air a short commercial on a local channel, you can expect to pay over $1,000 depending on the time of day. To air a commercial on a national channel, you’ll be paying hundreds of thousands of dollars.
- Radio Advertisements
Like television advertisements, radio advertisements can cost quite a lot. Station popularity and time of day will both influence how much it costs to run an advertising campaign via radio.
- Direct-Mail Marketing
Marketing via direct mail can get very expensive too, especially when running a large-scale marketing campaign. There are the costs associated with producing mailers, but the most expensive aspect of this strategy is easily paying for postage.
- Listing Brochures
These glossy listing brochures look nice, but they sure are expensive to produce and distribute. Besides, with listing inventories changing all the time, this marketing method is nearly as cumbersome as it is expensive to maintain.
- Print Advertisements
Taking out ads in the local paper is still common in real estate and can still be effective when done right. Regardless, these ads aren’t cheap when they’re run regularly. In fact, depending on ad size and ad placement, they can be more expensive than some television and radio ads.
Affordable Real Estate Marketing Methods That Work
Even if you don’t have a lot of money to spend on marketing, you still need to get the word out to potential clients about your business. Is this even possible without a huge budget? Yes, and it’s a lot easier than you might think. Here are a couple low-cost marketing methods that are highly effective:
Facebook Advertising
When it comes to targeted advertising, nothing compares to Facebook. Facebook’s advertising system is extremely powerful. When used right, it’s also extremely affordable. Hear how to run an effective Facebook advertising campaign on this podcast.
Email Marketing
Email marketing is another highly effective marketing strategy, especially in real estate. Depending on how you do it, it can also be an extremely low-cost method for staying top of mind with past and potential clients. Read up on some of the best email marketing tips to ensure your email marketing efforts pay off.
Free Real Estate Marketing Methods
If you’re looking to spend absolutely nothing on marketing and still generate hot real estate leads, there is a way. Actually, there are over 100 free ways generate real estate leads. Check out Rebus University’s course on the best free real estate marketing methods: 101 Free Ways to Create Real Estate Leads.
Pat Hiban is the author of NYT best selling book “6 steps to 7 figures – A Real Estate Professional’s Guide to Building Wealth and Creating Your Destiny”, founder of Rebus University and the host of Pat Hiban Interviews Real Estate Rockstars an Agent to Agent Real Estate Radio Podcast with Hiban Digital in Baltimore, Maryland. Follow him on Facebook or Twitter.
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