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You're NOT Marketing... How to STOP Advertising and Start Marketing!

So, I'm driving down the road today and had to take a picture of this. Why? Because it reminded me of how so many companies (not just real estate companies) approach their marketing efforts... Even more so, it made me think about how many people, (and industries), don't know the difference between ADVERTISING and MARKETING.

Are you investing in Real Estate MARKETING or Real Estate ADVERTISING

Advertising: The paid, public, non-personal announcement of a persuasive message by an identified sponsor; the non-personal presentation or promotion by a firm of its products to its existing and potential customers.

Marketing: The systematic planning, implementation and control of a mix of business activities intended to bring together buyers and sellers for the mutually advantageous exchange or transfer of products.

- Quick Test - Based on the definitions above, categorize the following real estate "marketing" efforts:

Just Listed Postcards - ___ (Advertising) ___ (Marketing)
Email Drip Campaigns - ___ (Advertising) ___ (Marketing)
Direct Mail Campaigns - ___ (Advertising) ___ (Marketing)
Online Banner Ads - ___ (Advertising) ___ (Marketing)
Farming a Neighborhood - ___ (Advertising) ___ (Marketing)
FSBO's and Expireds - ___ (Advertising) ___ (Marketing)
Informercials - ___ (Advertising) ___ (Marketing)
Grocery Carts ___ (Advertising) ___ (Marketing)
Cold Calls - ___ (Advertising) ___ (Marketing)
Agent Websites - ___ (Advertising) ___ (Marketing)

I could go on, but I think you get the idea. Here's a newsflash though... ALL OF THESE ARE FORMS OF ADVERTISING BUT DON'T HAVE TO BE!

So, how could we turn some of these "Advertising" efforts into "Marketing" campaign?

Just Listed Postcard to renters featuring a property suited for First Time Buyers - Marketing

Email Campaigns focusing on things to do in your town, or information specific to their buying needs

Direct Mail Campaigns focusing on the psychographics of your database (See Understanding Your Clients Post Here)

Farming a Neighborhood and sending them to a website like the one of my past agents developed www.510werie.com

FSBO's and Expireds can benefit from the information and help you can provide to them (80% of them will sign with a Realtor, 70% will sign with the first Realtor they talk to, and they'll probably use you on the buy side if they like you and feel you helped them)

And the list goes on...

It's time to innovate, and bring yourself and emotion into the equation. By reading, living, and incorporating the true definition of MARKETING listed above, you will be taking the first steps forward into a new level of business.

Matt Dollinger

*Originally posted at www.TheYouFactor.com

Posted by Matthew Dollinger on 06/30/2008 11:35 PM

Comments (17)

understanding clients, business 20, marketing, advertising, real estate, client service

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17 Comments on You're NOT Marketing... How to STOP Advertising and Start Marketing!

JUN

2008

I always try to MARKET over ADVERTISE! Anyone can buy a spot but marketing takes more creativity!

JUL

2008

Matthew, thanks for the post. Thankfully we're doing more marketing than advertising. It is always good to step back and make sure where and what you are spending money on. Good post!

I would think there is a time and place for both of these- wouldn't one compliment the other.

Hi Matthew,

Great post. And you’re so right about people not knowing the difference.

Having an extensive background in both marketing and advertising, I use to tell people that the easiest way to differentiate the two is to remember that marketing is ‘strategic’ and advertising is ‘tactical.’

Now, if you really want to confuse the issue, throw in the word ‘sales’ as well. It’s neither marketing, nor advertising.

: )

So now I'm confused. What am I suposed to be doing? Marketing? Advertising? Both? How am I supposed to tell the difference between them? I guess you are saying we should be marketing from the title of your blog, but I must need more education so I can tell what is what.

It seems to me Matt that we advertise to a broad base with particular target and we market to a focused well defined group. Unfortunately, I wish it was that easy. Good post

Bo Hussung

Hi Matt, It makes a lot of sense to constantly be aware of how we are marketing. I work hard to make sure my approach is creative and successful.

Love your statement about the postcards - that is the one thing I still print but they are not "just listed" to the neighborhood its in, but focused on who may want to buy it.

Cristal and Tony/Darcy - Great work. Advertising listings is one thing. That's what the consumer wants. Marketing listings, and yourself, requires time, commitment and an undertstaning of your target audience. Keep it up!

Carol & Kevin - As I said above, Advertising does have it's place. Your clients expect you to cast the widest net possible (or else why would we spend money placing listings in the paper when 90% of them come through our MLS and other agents?). Marketing, however, is the targeted group and specific to you, or a specialty listing that you know is going to sell to a particular individual(s). Advertise AND Market your listings. MARKET yourself to promote your business. Hear more about this difference on my commute utterz here

Michael, Steve and Lizette - Absolutely on the mark. Creativity is key, but client understanding is also one of the elements that drives what I will call Targeted Creativity. You can be as creative as you want, but if it doesn't resonate with your clients, it's a wasted effort.

Looks like I have at least part of this down, although certainly not all of it. I'm bookmarking to come back to when I'm a little more alert and in learning mode.

You will need to elaborate more with a Part 2 when time permits. I felt the guilt but I also felt confusion. :) Great post.

I still get confused with the post card for one and the other but the post was really great.

I think there's a place for both advertising and marketing - the most important part is having a plan and working it.

Latonia and Lisa,

I can understand your confusion/mental burn out with this topic. Honestly, this is where I think that my NOT being raised in the Real Estate world helps out. Many of the things that I have heard and seen taught to agents over the years are advertising tactics being packaged as Marketing. Often when I sit down with agents and start to develop actual MARKETING plans, they are confused, becuase it's very different from what they have been taught in the past.

One of the best ways to understand modern day marketing, differentiation, and enhancing the overall customer experience is to read some great blogs and books. Here is my Recommended Amazon Reading List that may help you on your marketing journey!

Also, on my blog www.theyoufactor.com I have a number of marketing ideas, including one post about using Google Reader to simplify your blog reading behavior. It also includes a number of recommended blogs for you. Read the post HERE

Enjoy

Matt

Gene,

Here's what I was trying to say about the postcards.

Most people send Just Listed/Just Sold cards out
If you send them out to the closest 100 homes (NAR stats say that another home will come on the market within 45 days)
If it's a "starter home" send them to people who would be buying a "starter home" (i.e. renters?)
If you're sending out a Just Sold card, why not include % of Sales Price to List Price or # days on market AND... HOW YOU ACCOMPLISHED THIS
If you're sending it out to generate listings, talk about HOW you are different... not just IF YOU ARE LooKING TO SELL

Differentiation is key. Always remember the WIFM (What's in It For ME) as well as the VALUE you bring to the table.

Great topic and tips, thanks for sharing.

JUL

2008

Great post- to market to market to buy a fat hog, home again home again jiggety jog.......oops sorry, did I mean to post this on the Mummy and me blog!

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