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Who is First?

Any subscriber to my blog knows my distaste/crusade against the overspending of marketing dollars in newspaper advertising. Below is a graph that should help consumers realize how their home will be marketed for maximum exposure and results. Agents, yard signs the Internet accout for 81% of consumers first source of information. Newspaper is 3%!

This chart was created and made available by the NAR via their Profile of Home Buyers and Sellers 2008 book. This publication is loaded with more great information and charts like this. The Real Living seller and buyer presentations both highlight this chart for consumers. How is your firm spending its marketing budget?

Posted by Chris Svec on 01/15/2009 12:28 PM

Comments (20)

Advertising in the Sales Strategies / Tactics Channel

newspaper advertising, real living, internet consumer

Post is included in group: Real Living
Post is included in group: Realtors®
Post is included in group: Ohio Active Rainers
Post is included in group: Midwest Rainers
Post is included in group: Marketing 101

20 Comments on Who is First?

JAN

It's a dead dinosaur there are few people left who read it and especially read the classifieds. Why would you when you can get color photos, videos, vt all while sitting in your pjs.

Chris,

Thanks for the chart. I am one of those who believe that advertising in the paper is fast approaching the obsolete status. I know that some homeowners still want it done. Hopefully eventually paper advertising will be phased out.

Joshua-

Use this chart to help explain to the consumer that it is virtually obsolete! We'll get there as an industry one day. Steam comes from my ears when I listen to agents tell me their seller "demand" their home be in the newspaper and they are unwilling/unable to overcome that objection.

Great information here. This is a great marketing tool I will use in the future.

Chris - Thank you for the post. I find there is a rare utilization for print media - targeted opportunities are few and far between for this application in today's marketing world. All the best to you and your business.

Ken-

Thanks for your comment. Likewise - best to you as well in 2009!

Great Post Chris! This info will benefit many, particularily Realtors who are unable to sell the fact that newsprint advertising is probably the most expensive, overrated, outdated method of exposure out there. Thanks!

I have just reviewed a marketing proposal that shows TV time right here in Columbus being as low as $12.50 per commercial on main stream channels and times such as 10TV News and CNN.

Interesting

JAN

Rich-

Thanks for your comment!

The rates you quote are very average rates for cable. We have agents saying they are getting them down below $10 right now (Q1 is the most inexpensive time to advertise). Cable is always that inexpensive. The other great thing with cable is how targeted the medium is. If you know your customer, you'll be quite efficient with your ad dollars here. Good luck and happy negotiating!

Chris,

Sometimes I think I run too fast...

this chart is exactly what I needed for a Seller that I met with this week...

now, I know (thanks to you) where to find it!

JAN

Sheila-

Thanks for your comment - the next time I hear an agent say their customer "demands" their home be put in the newspaper, I'm going to scream. Arm yourself with the facts. I'm thrilled this chart will help you with your customer.

JAN

Chris,

I will definitely use the chart. Unfortunately I have first hand witnessed a client demanding using paper advertising. It just doesn't make sense.

JAN

Josh and Kathy-

Keep preachin the word... One consumer at a time.

JAN

Chris,

We fill, believe me. You and I both know one day we will have helped eliminate those pesky paper ads.

FEB

Chris,

I believe that paper ads are done mostly from habit. However, as a part of a complete strategy I do believe that they can have a place. I mainly do it to keep in front of older clients who may not have made the transition to on line resources. Good info.

Josh and Kathy-

Doing away with print advertising is one thing. The next thing you need to be cautious of is those print and other mediums (radio), getting into the listing syndication business. DO NOT GIVE THEM YOUR LISTINGS or you'll be soon spending $'s to "enhance" your listings on their sites vs. their primary mediums. Example in my market www.wonderfulcolumbus.com. Owned by ClearChannel and trying to get our ad dollars and listings. They are advertising all over the local radio stations and provide the consumer a sub-par experience with 800 of 14,000 listings displayed currently.

Vanessa-

You are correct, at Real Living we preach a 360 degree marketing system where newspaper is one small facet of the plan to sell a home. Check us out.... www.realliving.com.

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