Execute Your Marketing Plan
Your primary goal within the first few months of your real estate career is to build awareness of your services in your target market. The most effective way to do this is on a limited budget (with between $2,000 and $5,000 to spend on marketing), according to industry experts, is to conduct repeated mailings of a single, strong marketing brochure to your target market.
Once you've developed a Personal Marketing Plan and a budget, here are tips on how to execute your plan:
• Decide how large your target market is. You need to know how many marketing pieces you will need over the next few months. Remember, when it comes to printing, it's much cheaper to order one very large quantity as opposed to making ten orders of smaller amounts.
• If you've decided to work with a designer and copywriter to help you develop your brochure, ask for estimates in advance. And review them carefully to see what they include. Ask how many drafts they'll allow under the original charge. Is photography needed and is it included in the cost? Is the estimate made on a set number of hours or on the project? Allow at least two weeks for copy and two weeks for design. When everything is done to your satisfaction, sign off on the final copy.
• Develop mailing lists for your brochure. North American Title Company can help you with labels for your newly selected target market, but you will need to order envelopes and stationary if you need them for your mailing.
• Mail your brochure to your mailing list, which should include your family and friends, also called your Sphere of Influence. Then mail 10 brochures per day into your farm area. If you don't have a farm, send your brochure to 10 names from the reverse directory (a directory that if you have a street address give you the name of the person who live there). Also, hand out 10 brochures per day to people you meet. Always have your brochures and business cards ready to give out. If you eat out, put your tip on top of your brochure when you leave.
• Evaluate the results of your mailing. How many responses did you get? What groups responded most favorably? Keeping track of the responses helps you to determine where you should be spending your marketing dollars and efforts for the best return.