IF YOU WANT A PIECE OF THE ADVERTISING PIE, BETTER GRAB IT!!!

By
Real Estate Agent with Douglas Elliman Real Estate 30HA0800896

IF YOU WANT A PIECE OF THE ADVERTISING PIE, BETTER GRAB IT!  It may not be there if you delay; we hear all kinds of Realtors are completely out of the print advertising business!....Not that they are thinking about it or analyzing it or even doing research on if they should do it or not---no! They are completely out of the print advertisng business. Reasons are: "too expensive", "my customers only use the internet", "print ads never pull!" or "print ads are dead!" So I put my safari hat on and headed into the AR jungle and asked: "IS REAL ESTATE PRINT ADVERTISING REALLY DEAD?"

HERE IN A PIESHELL ARE THE RESULTS:

                                 GOTTA GET A PIECE OF THE PIE

IF YOU WANT A PIECE OF THE ADVERTISING PIE, BETTER GRAB IT

I POSTED A BLOG LAST WEEK THAT WAS FEATURED AND RECEIVED OVER 200 COMMENTS AND IT WAS ALL ABOUT THE USE OF PRINT VS. INTERNET ADVERTISING. THIS IS THE RESULT OF EVERYONES INPUT.

So, we know that if everyone in real estate had their choice, they would pay nothing for advertising; but we also know that nothing from nothing equals nothing.

As of late, we are all hearing how we should be doing internet advertising, social media, Google, Public real estate websites: "It's Free Advertising!" (or costs very little compared to print ads) we have been hearing this for over a year now, perhaps 2.

 Sounds too good to be true to me! ...and you know what they say about that! (If it sounds too good to be true, it probably is!) This is what drove me to try out print advertising again after I had stopped doing any print ads in 2008 and early 2009. I picked my places carefully and limited the amount of money spent.

FOCUS: I used a publication with a glossy presentation and a high end appeal. PROFILE magazine is published by my company and has a very long shelf life and a 250,000 distribution. When my results were nothing short of spectacular, I sold 3 properties over $2million from 1 full page, full color ad. Cost to me: $2500.00.

Success drove me to try something that worked; so I decided to share this information with all who would read about it on AR---it got a featured big fat YELLOW STAR and more than 200 comments from all of you! Now it is time to share what all of you think, in a nutshell.

 

I have tried to be as objective in my analysis as possible and give you the key points made in the comments received:

          OBJECTIVE EVALUATION                      

KEY POINTS THAT CAME  THROUGH FROM ACTIVERAIN:

  • The internet is still the place that most real estate searches begin.
  • Print advertising is not dead.  Some forms are still a growth segment of advertising in certain markets.
  • Newspaper print ads are a very small part of print advertising.
  • Internet advertising is still the most important source for leads in lower end markets.
  • Boutique brokerages NEED to do print ads--creating the glossy, high end booklets that still pull.
  • Large Real Estate Companies use print advertising for image building more than focusing on individual properties.
  • Most small towns, villages and smaller communities continue to do print advertising if they still have a local paper.
  • Most sellers expect their properties to be advertised in print, especially if it is a high end listing.
  • Post cards, flyers and glossy brochures are still being used effectively in many markets.
  • Glossy magazines are key to a resort market....for local information and relaxation.
  • Markets that sell properties for $200k and under are exclusively utilizing the internet for advertising. As one responder wrote:    "In my market of $150K houses and under: Print ads are dead!

 

                                                  PRINT VS. INTERNET ADVERTISINGWeighing the Issue

WHAT IT LOOKS LIKE TO ME:

  1. A balance between print and internet advertising is critical to maximize your business in most market-places.
  2. This means, that in order to determine the correct split, all advertising plans should include research done from a websites "hits" and concrete data showing the results of all leads from that source.
  3. This also means that print advertising needs to be evaluated, by cost of ad and results of each print ad.
  4. A lot of tracking needs to be done on an ongoing basis to determine the flow of time, dollars spent and the end result of each venue.
  5. Putting money into an evasive venue such as print advertising means that you need to be in the best vehicles available.
  6. Do your research on all publications for distribution, targeted markets and buyer profiles.
  7. In the event you find that print ads don't pull---pull the plug! But only after you are sure that in your area, print ads are dead!
  8. ...And remember: Print ads attract listings!...and high quality ads are a must---you are trying to attract a high end buyer/seller!!!         MONEY IN THE BANK

IT'S LIKE MONEY IN THE BANK!

THAT'S IT

That's all it takes to see an improvement in your 2010 results! Even if the earth doesn't move from the changes in your advertising plans; your income should!  

Mine did,and now that I have incorporated the practice of in-depth analysis of all advertising venues available to me--I can already see a big difference for my business for 2010!

 

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Rainer
52,753
Peggy Duffy
The Bailey Team Real Estate - Chantilly, VA

Good summary and advice. Thanks for posting.

Jan 28, 2010 01:56 PM #1
Rainmaker
471,520
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Peggy: Hope it helps everyone to take the chance and get a good feeling about print advertising again---it does appeal to alot of people. Did you get a chance to read the original post? I am still getting input from responders---very interesting that there are so many people who want to take the chance again! Thanks for your comment.

Jan 28, 2010 02:04 PM #2
Rainer
334,430
Tom Davis
Harrington ERA,DE Homes For Sale, $$ Save $$ Buy Today ! - Dover, DE
FREE Delaware Homes Search!, $$ Save $$ - Find Homes! Delaware Realtor

Hi Paula,

This is a great post since many are "Gung Ho" about online ads, well that's cool and all but it is a good idea to balance the print ads in too since it is not dead yet!

Thanks and enjoyed the topic!

Tom Davis

Jan 28, 2010 02:15 PM #3
Rainmaker
1,041,971
Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Hi Paula..after 39 years int his business I've done a ton of successful print advertising and all the other marketing..My Sellers hire me to Sell their home Fast and for the most money we can get..People her have flat stopped buying and reading Newspapers and real estate magazines to find real estate. I had to learn quickly "where are they going"

 I helped build a New Open House Web site for MLS Board, I now Blog and have several web sites..I can tell I do not care what it costs..I go to the place I get results and for me that's online marketing...see my last Post No Print Advertising. Do what works for you, I do what works for me to sell my clients homes.

HAVE YOUR BEST YEAR EVER IN 2010

Jan 28, 2010 02:15 PM #4
Rainmaker
454,425
David Henke
Long & Foster Real Estate, Inc - Newtown Square, PA
Realtor, Homes Just West of Philadelphia PA

Great summary.  In this area, it actually varies widely by individual community.  In some areas I have received zero results from print and all leads from online.  In other hyper local markets, it's all about the "hyper local" print weeklies.  As always, know your customer.

Jan 28, 2010 02:46 PM #5
Rainmaker
471,520
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Tom: Good observation; I was doing the same thing with my advertising...then it hit me that I  have had a nice reaction in the past to glossy ads with $2.mil to $6mil.  ads--of course another kind of a market. But when I ran that PROFILE ad--bingo! I hit the big time...it was right and i have another one in March. I will study the results closely to make sure I should consider it again but I am not going to ignore print any more. Thanks for reading and commenting!

Jan 28, 2010 02:52 PM #6
Rainmaker
471,520
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Fred: Thank you so much for your valuable input---interesting how markets differ! But that's what makes horses races as the old saying goes....:) Do you have a moderate priced market going on there? It makes sense if you do...as you can see on the summary here, most of the moderate to low end markets are well entrenched in the internet. Probably a lot of young first time buyers? Thanks again for reading and commenting!

Jan 28, 2010 02:56 PM #7
Rainmaker
471,520
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

David: "Know your customer" says it all. If you know that you can't sell anything from a print ad, don't do it!...I believe that the old toe in the water once in a while is a good thing though; just don't fall in and drown in the red ink! Thanks for commenting

Jan 28, 2010 02:58 PM #8
Rainmaker
1,041,971
Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Hi Paula....the Average Priced homes here throughout Greater Victoria is $600,000, and $830,000 in my Farm Area. I find the higher the price and the consumer schooling education the more active the consumers are online.

Jan 28, 2010 03:28 PM #9
Rainmaker
471,520
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Fred: Interesting; your market sounds like it is a more progressive one? Is that a possibility? The age of a community was another factor in the responses from my first post where I presented the question initially. I didn't make an issue of that because I don't like to think that the older the population the less they use computers? ...Didn't make sense to draw a distinction, but the fact remains that if you have a population that does very little outside of the internet---then fire away at the internet ads! Thanks for the interesting facts! 

Jan 28, 2010 09:31 PM #10
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Rainmaker
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Paula Hathaway, REALTOR, LBA

...The Most Informed Agent In The Hamptons!
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