Developing a cost-effective marketing strategy that still yields exceptional results is inherently difficult, so it is important to understand how to get the most out of your marketing budget without investing too much of your time or money. This is best accomplished through a precise approach to marketing that reaches the greatest number of potential property buyers and sellers rather than just the greatest number of people.
BoldLeads.com, for example, focuses on an optimized approach to lead generation that provides real estate agents with access to buyer and seller leads that are much more likely to result in commissions. This is accomplished by incorporating ready-to-use marketing tools, customer relationship management, and an automated follow-up system, thereby ensuring the agent is able to focus on serving their current clients rather than working to secure future clients.
Every agent has different marketing needs and budgetary concerns, but there are a few universal principles that you can apply regardless of your individual circumstances. The following five tricks for extending a marketing budget are based on those universal principles and are designed to help you consistently attract more high-quality clients through a streamlined and shrewd marketing approach.
Focus on Efficient, Long-Term Strategies
The most efficient use of a marketing budget is to simply adopt an approach that focuses on generating consistent results over the long term. A marketing campaign with this kind of focus is not only more cost-effective, but it is ultimately the more effective option as well.
Drip marketing campaigns that include social media, email, and text messaging ensure that potential buyers and sellers are repeatedly reached in a non-invasive manner that is more likely to lead to conversions. This is not the right strategy if you tend to be impatient and want to see results right away, but over time this approach ensures a consistent and sustainable base of high-quality clients.
Take Advantage of Free Marketing Opportunities
If you really wish to get the most out of your marketing dollars, then you have to take advantage of as many free marketing opportunities as possible. Establishing a presence on social media is a great way to start, and blogging provides an avenue through which you can demonstrate your expertise while providing a valuable resource for first-time buyers. All that is required of you is a relatively minimal investment of time and energy into pursuits that have been proven to yield results time and again.
A more indirect but time-honored approach lies in simple community involvement. When you are active in the community — whether it is volunteering for a local event or joining a local service organization — you are much more likely to benefit from referrals provided by the community members you get to know as a result of your efforts to be more involved.
Creating a podcast may appear to be both a time-consuming and costly marketing endeavor, but it is no longer necessary to buy specialty recording equipment or pricey editing software. Professional editing services do more than just edit the podcast; they essentially produce each individual podcast, often for a price of just about $50.
While these services vary, most will simply send you specific questions about your market and, after you conduct the research necessary to provide thoughtful responses, record your answers via phone. The service then edits the whole podcast to include introductory music and a host who will serve as your interviewer. A professionally produced and highly informational podcast will go a long way in demonstrating your authority in your market while providing a resource that very few realtors are able to offer.
Client Loyalty Programs
A small investment in customer reward programs will earn repeat business and ensure that your previous clients not only refer you, but are also able to offer anecdotes about their exceptional experience. Simple services — providing a moving truck or paying for a handyman — will help secure a fiercely loyal client base that provides a consistent source of referrals. Investing in season tickets to a local sports team and offering individual game tickets to past clients, for example, will have those clients singing your praises with unrivaled frequency.
Videos and Virtual Property Tours
Incorporating videos that provide a virtual tour of your available properties will allow you to separate yourself from many of the other real estate agents in your area in an exceptionally impactful manner. Properties featuring video tours are more likely to lead to requests for further information, and buyers tend to prefer to work with realtors capable of offering virtual tours. It isn’t costly either: a Smartphone and a free application may be all that is necessary to create a virtual tour.