Photo:
Getty
Real estate marketing has been prevalent since buying and selling of property began. The premise of marketing at its fundamental core was created to manage transactions and allow parties to come to an agreement through thorough negotiations. It’s difficult to think of any industry that relates more to this concept of exchange than the real estate industry, where properties are constantly being bought and sold on a daily basis around the globe.
The marketing methods adopted by our industry have evolved significantly over time. Photography had a significant role in early real estate marketing, as buyers could transparently see the property for the first time without having to be physically present. This was the first and most prolific advancement in modern real estate marketing.
Toward the end of the 1800s, the multiple listing service (MLS) was formed. At the time, it was a primitive system that allowed real estate brokers to share their inventory with each other and to quickly sell their clients’ properties.
Since then, the advent of the internet has dramatically changed the real estate marketing landscape once again. There has been a complete shift from outdated real estate marketing business practices to modern, new-age techniques. The implementation of these techniques can dramatically increase the net profits of any real estate company.
Some of the most effective methods that should be considered by any real estate professional are:
A unique web presence: This should include a modern website that is easy to navigate and creates a strong overall perception. I often find it interesting that some companies that are very large in scale have an inadequate online presence. Very effective marketing, coupled with an appealing, aesthetically pleasing and functional website, can lead to the consumer and public perceiving a relatively small or startup operation as an enormously successful entity.
Business profiles: Business profiles should be strategically placed throughout the web on all the largest outlets. These will ultimately be discoverable with Google, Bing and Yahoo, leading to stronger search results.
Press releases: Press releases with important keywords should be continuously sent out. At the same time, you should aim to keep them unique and only use them when you have a noteworthy story.
SEO: On-page and off-page SEO is essential. A strong SEO strategy will allow you to outrank your competitors in keyword results and drive organic traffic to your real estate company.
Email campaigns: Email campaigns are essential to keeping in front of your target audience. All too often, campaign emails look promotional in nature and don’t have a clear call to action. Keep your emails simple and, most importantly, have them appear to be personal and as if you sent it to the individual recipient directly. This will help inspire your recipeints to respond and can exponentially increase your engagement.
Google AdWords: Knowing and utilizing the keywords relevant to your real estate business can be a tremendous benefit for overall business development efforts.
Online reviews: The net effect of strong and accurate reviews cannot be underestimated. Their trust factor can correlate to a dramatic increase in business and allow your real estate company the ability to convert prospective clients with ease.
Social media: Social media is a crucial element of any effective marketing strategy. Through the use of LinkedIn, Instagram, Facebook, YouTube and the like, you can generate significant brand awareness and drive traffic. Create pages on these sites and focus on an overall strong branding strategy with appropriate social media handles and content. Sending out relevant content to your followers is crucial.
Facebook and LinkedIn ads: Running ads on both Facebook and LinkedIn, with a laser focus on your prospective client and territory, is a great way to quickly drive traffic to your real estate company. Additionally, it can be a great tool for retargeting campaigns.
Social media influencers: While finding the right social media influencers can be a challenge and also often come with a hefty price tag, a well-matched influencer partnership can drive tremendous lead flow. Finding people in congruent industries who have significant track records and successes can lead to an increased trust factor.
Television and radio ads: While this can be cost-prohibitive for most, it’s an effective way to gain familiarity, increase trust and obtain new clients. Look for unique channels and niches; hosting local talk shows and positioning your company and yourself as a leading expert in your field can benefit your company significantly.
Print: Magazine ads, postcards and mailers on a continuous basis — perhaps monthly or quarterly — can help keep you and your company relevant. Focus on overall brand awareness and keep the call to actions simple yet direct in nature. At first it might seem like a low return on investment, however, in time and after continuous efforts, it tends to pay off.
Lead generation methods: Unique lead generation is of the utmost importance. The vast majority of real estate companies (both commercial and residential) should provide, in some capacity, lead generation for their real estate professionals. Without this vital element, it would be difficult, if not impossible, to initially recruit the real estate professional and then to ultimately retain them. These campaigns can be complex and extremely innovative, yet, within every company there is a way to find a method, successfully implement it and obtain tremendous results.
The marketing mix is constantly evolving. The most successful real estate companies and executives alike quickly adopt and accept these methods while working diligently to perfect them. Maintaining the status quo within the real estate industry will result in inadequate profits, and real estate companies and industry executives are smart to think outside of the box about implementing new, innovative methods that save time and money while dramatically increasing the bottom line.