As a hard working real estate agent, you may find it easy to get wrapped up in the hype of a new marketing method that promises quick payoff with possibly little cash (or even a lot of cash!)
With so many choices, so many ways of marketing listings and yourself, you may feel compelled to dump what you've been doing and jump right in to something new. Tread lightly, make sure you have a plan in place moving forward. Here are some simple tips for use when you are contemplating trying something new:
1) Have a plan for the plan.
Before you do anything else, map out how you intend to execute your new plan and how you intend on measuring results. Develop an entry and exit strategy for your marketing plan. Think of a few ways that you may be able to make slight adjustments along the way to maximize your effectiveness.
2) If it isn’t broke, don’t fix it.
If what you've got going is working well, why change? I admit it's good to try new things, but be careful not to abandon what you've already got. The saying goes, you don't know what you've got until it's gone applies.
As an alternative, test different approaches for a small segment of your marketing list. I believe that 10% is a good number to test on. Use 10% of your time and capital for experimenting, the other 90% for things you know work well. Run a campaign and gauge the results. If successful, apply this tactic to increasingly more of your list while not forgetting what already works.
3) Measure your results to determine what works best for you and your situation.
It is imperative with any marketing campaign to accurately measure results. How could you possibly make a good decision as to what is and is not working if you don't have accurate figures?
4) Marketing isn’t just about the numbers.
Remember that sometimes a successful marketing campaign may not work immediately. Patience is virtue, stay the course and give your plan time to play out. Premature stops or changes can ruin something potentially good, and you may never know about it! Even if you don't get more money from your campaign, ask yourself if it is helping in another area such as increasing the longevity of your business, or helping your clients in a big way.
5) If it sounds too good to be true, it probably is.
If you read testimonials on a marketing method, please take them with a grain of salt. Testimonials are dime a dozen, can be fabricated and doesn't give you an accurate gauge of true success. Unless you actually KNOW someone who has had success, don't trust testimonials. Use common sense when gauging something new.
6) Try new things, but don't abandon past marketing efforts that you know get results.
The 10% rule mentioned above works well. Spend 90% of your time and money on campaigns that you know do well, use the other 10% for experimental work. This allows you to try new ideas without breaking the bank.