'Down Market' Means it's Time to Market!
With the current real estate market crunch many people have pulled back on their marketing spend. Successful businesses however are Increasing their marketing – here’s why:
• Less Competition: The downturn in the economy and marketplace tends to ‘clean up’ the industry, reducing the overall number of service providers and thereby increasing your potential ‘odds’ of gaining business
• Separate the Wheat from the Chaff: As a general rule, only those providing a solid service and/or product will be able to ‘ride out’ the slow-down. Part-time players, ‘Johnny-come-lately’ types, and non-committed businesses will typically flock to other industries…or pull way back on their exposure and marketing…allowing the professionals to ‘shine’ through even more brightly.
• Marketing and Branding Increase: The reductions listed above result in a corresponding reduction in marketing and advertising hitting your core customer. This means that your marketing voice has an increased potential to be heard by your target audience.
• Lower Marketing Costs: The decrease in business marketing hits the segment of marketing service providers fairly hard – for example, as advertising inventories increase, you’ll find that the cost/M more affordable, and many other systems are offering significant discounts and special promotional pricing to bring in (your) marketing business. Basically, it’s a buyer’s market for marketing.
Remember, people haven’t stopped buying, selling, and investing – it’s just a slow down in a cyclical marketplace, a repeating trend which you can make it through. The best strategy to adopt is to determine if you are going to continue through the down turn, and from there recommit to your marketing and capture market share so that when the market turns upward – you are already there and well-positioned for long term success and profitability.
Find your niche, determine your plan and level of commitment to growing your business, cut unnecessary costs, track ROI for all spends, and grow your market share dramatically in this economic downturn.
-Tim Mancuso || www.TimMancuso.com
Tim Mancuso is a Trusted Advisor and Consultant focused primarily on the Real Estate Industry. Mr. Mancuso is currently looking for opportunities, contract and full-time engagements while continuing his training and speaking within the Real Estate community. Mr. Mancuso was Co-Founder / VP Global Sales for MyREALTY.com and the GLS - Global Listing Service and has over 20 years experience as a Technologist, Trainer, Coach, Recruiter and Speaker.
'Where Market Knowledge, Solid Technology Implementation, and Great Service meet - you will undoubtedly find Success.' - T. Mancuso