4 Keys to an Effective Real Estate Marketing Plan |
Since 2013, the National Association of REALTORS® has recorded a steady increase in agent membership compared to the previous year. Despite this growth, not all of these agents are able to last. As Brian Buffini, founder and chairman of Buffini & Company, says, real estate is an industry with no ceiling – and no floor. Without guidance, new agents can be easily discouraged in the early years, causing them to go out of business shortly before the heyday. This has led many people to believe that the field is like a revolving door.
However, one important detail is missing from this conclusion: in fact, there are thousands of agents who have been in business for decades.
At Buffini & Company we celebrated members who have been with us for up to 20 years, which is almost as long as we’ve been in real estate coaching. These brokers are living proof that a real estate professional can survive in this industry with the right structures.
There’s an important part of that structure that I like to focus on: an exceptional marketing plan. To achieve longevity and success in your real estate career, you need to develop a strategy that will establish you as the real estate professional that your relationships will want to include in their buying or selling journey. Here are four key characteristics to consider when creating your marketing plan:
Defined target group
In real estate, your audience includes more than just potential buyers and sellers. You market your service and skills to all productive relationships in your database. Familiarize yourself with current buyer and seller profiles so that you can incorporate their needs in your marketing. For those people who don’t want to buy or sell right now, share your knowledge of the real estate market and become their resource for all questions. When they’re ready to move, you’ll be the first to call them.
Quality content
Today’s consumers are educated, cultured, and immune to old-fashioned sales pitches. Avoid producing “salesy” content and instead focus on high quality pieces that add value to the consumer. These valuables should be informative, fun, and practical. Using a monthly marketing strategy to send your relationships something they can use and appreciate will position you as a knowledgeable and experienced agent who will get them to do business with you.
Optimal distribution plan
After developing your content, make sure you find ways to share it with your contacts. Create a distribution plan that includes all of the ways in which you will reach your audience. Send valuable items to your relationships. Join network groups to make new contacts with whom you can share content. Start a blog or social media page posting valuable information about your market. Don’t keep your real estate career a secret. If you produce exceptional content, the public will want to know about it.
Analysis of the results
After you’ve done all of this work, you need to set up reporting systems to review your results. Are you actively tracking your marketing activities in a customer relationship management (CRM) system for real estate and then ask yourself a few questions: How many recommendations did you get from your last mailing? Did the Facebook post with your latest blog link get more comments than the one with your latest entry? Am I focusing on the right contacts? Gather this data and analyze it to see what adjustments you can make to improve.
A strong marketing strategy will set you apart in a crowded industry and help you outlast your competition. Start developing yours today. Check out Buffini & Company’s Referral Maker® PRO monthly marketing kit for inspiration along the way.
Joe him is a master trainer at Buffini & Company. More information is available at www.buffiniandcompany.com.