I've been in marketing for real estate in one form or another for just over 12 years now and I am amazed at how Real Estate marketing remains the same. Usually the better ads have a "Cuteness" or "Amuzement" factor attached which is good...a good start. Buts lets take a simple non complex look at Advertising what it is supposed to do:
Why do you advertise? To get business and recongnition for the business I do.
What do you advertise? I advertise my product and the benefits of the product and why those recieving my advertising should use me to purchase the product from me.
Does it work? Sometimes. Always. Never. Randomly. Lets look at what we should be doing.
1. IF the market is not shopping for your product, why do you do "Brand Style" marketing? It is long term but monetarily ineffective...Look at your newspaper costs to return (ROI) as well as your real estate homes guides. Gotten a bit more expensive with less return huh?
2. If the market is not responding to you, you are not talking to the right market! Im not saying post cards work either. Targeting with a specific message to a specific type of client is the basis of pin point marketing. News papers are canvas style. If you understand pin point, do it. If not, lets look at how to make it work.
All advertising requires these 4 things: A. Obvious product, B. Obvious benefit, C. URGENCY. D. the ability to feel comfortable contacting you for assistance.
URGENCY? Yes, the difference between Active and reactive marketing. Active is where you are advertising. Reactive is where the advertising to creating a response...more to the pointe, a specific response.
Case in point: An office is printing their own magazine for homes. They consult a marketing person and the marketing person says center page list all the area's foreclosures with how many have been sold to show that the homes are being sold...because that is what is making up the market place. You either have foreclosure listings or you have buyers or you have both and if not then nothing, but it is the marketplace. However, the office neglects to mention on the BLAND cover ANYTHING about the foreclosures. The response to the magazine is great! The people that pick it up, call. It does very well...However, there are still LOTS of magzines that have not been picked up. Other office does the same thing, however on the COVER it says, "Limited complete foreclosure list inside. All offers must be made through this office no later than XX/XX/XXXX". That office went through 5 times the magazines and recieved 3 times the calls per same bulk of picked up magazines. AND the calls were made up of people that were asking about making offers on foreclosures! URGENCY with an understanding of your market.
Another example: Agent A is printing up 1000 postcards and they are funny! Right picture to capture the attention of anyone who sees it with an offer for a free CMA and a Home warranty for anyone who buys from her. she gets 3 appointments and 2 listings. Good deal! Agent B is printing 100 cards and is targetting Out of State non-owner occupieds. The post card is placed in envelope with hand written address and return. The card simply states that there are new developments in investment properties that make their homes suseptable to investor losses. New Tax information and situational annalysis had been done on their property and to ensure that all is well, they must call." 100 post cards, 33 calls, 5 listings and 3 buyer agreements for 1031 exchanges and 1 buyer that wants to take advantage of his equity to purchase 2 more homes. Now what was the difference? Active or Reactive. URGENCY!
WHAT is your URGENCY?