The most popular real estate marketing strategies right now are social media, video technology, and automated email marketing. However, effective real estate marketing strategies also involve using direct mail, which may seem old-fashioned but is still very effective in the real estate industry.
Real Estate Marketing Ideas: Direct Mail
The Data & Marketing Association has stated that direct mail is one of the most important marketing mediums for businesses in various industries. When planning your direct mail campaign, it is suggested by professionals that you make it personal, give the receiver a definite answer to any problems they might have, and keep following up. When you are choosing your advertising campaign, think about how only one person needs to respond for it to be a success. Below, you will find unique direct mail marketing strategies for the following types of leads:
- Short sales
- Probate real estate
Direct Mail Marketing For Pre-Foreclosure Leads
If homeowners fail to make any mortgage payments, they may get foreclosed on, although the time frame differs by state. There are several ways that investors can get lists of people who are in pre-foreclosure, so that they can help those homeowners avoid foreclosure by buying their property.
Direct Mail Marketing For Short Sale Leads
A short sale is when the owner of a property sells it for less than the amount they owe on the mortgage. This is similar to a pre-foreclosure, where the homeowner is in a state of financial distress and may be facing foreclosure. The most common reason for a short sale to take place is when the homeowner is unable to make mortgage payments, and the value of the property is also less than the amount remaining on the mortgage. The only way a short sale can happen is if the mortgage lender agrees to take on the outstanding debt instead of going through with foreclosure.
Direct Mail Marketing For Probate Leads
After a homeowner passes away, a court will determine how the property will be distributed. Probate homes are often sold by an heir or executor. Probate real estate can be a great deal for investors if they know how to go through the process. Investors should keep in mind that the recipient may be going through the grieving process, and should act accordingly.
Now that you’re familiar with some direct mail marketing strategies for different types of leads, it’s time to review other real estate marketing strategies.
Which Real Estate Marketing Ideas Will Make A Difference?
1. If you want your social media posts to be seen by a lot of people, you have to pay for it now. A few years ago, you could post something on Facebook or Twitter and assume that a good portion, if not most, of your followers and fans would see it.
You will need to use some of your ad budget to make your social media content, such as YouTube videos, Instagram posts, and Facebook updates, more visible to your followers and fans.
You can see effective results with modestly-funded campaigns for a “boosting budget.” By making your content look like normal social media posts and not advertisements, you can reach most of your followers with just a few dollars a day. Track your results to see how well this works.
2. Baseball caps may have a “one size fits all” solution, but real estate marketing will not. People want businesses to cater to their individual needs and wants. Tailor your marketing based on your audience segment to create different landing pages, direct mail pieces, and email follow-up sequences.
Most experts agree that baby boomers and millennials will have the most influence over the housing market in the coming years. Instead of using one message to market your properties, which wouldn’t be particularly appealing to either demographic, customize your marketing to fit the needs of your target audience. This will not only make your marketing materials more personal, but also your brand as a whole.
3. Reach your leads again with automated, personalized messages through retargeting to close more deals this year.
Retargeting is a marketing strategy in which visitors to a particular web page of yours have a tracking cookie placed on their computer. Even though it may sound bad, this tracking cookie lets the visitor be followed throughout the Internet by your marketing funnel, even if they didn’t sign up for it originally. After you check out a power drill on Home Depot, images of that drill may appear on other websites you visit. That’s retargeting in action!
We can use the same powerful strategy that power tool companies use to “retarget” people who visit our web properties, especially landing pages, and add them to our marketing funnel at a later date. We can use this on web properties we don’t own, such as YouTube videos or Facebook pages.
In general, you can get more value for your money from real estate marketing by being able to follow up with a lead, without having to make phone calls or send more direct mail.
4. There is no doubt that online video is an important part of a modern marketing strategy. The video marketing trends are pointing towards something that is more modern and dynamic than the typical YouTube video. (Not that there’s anything wrong with YouTube.)
Video content is going to be a big deal for years to come. This includes live-video platforms, augmented reality apps, and immersive 360-degree videos.
Would an immersive 360-degree video help you sell pre-habs and wholesales to other investors? You could do a weekly Facebook Live video chat where you show marketing leads how to sell a home during probate. Or perhaps you just share brief clips of video content through platforms such as Periscope, Instagram, and Meerkat.
We’re really excited about dynamic video (and sometimes live video) in real estate marketing, which is an emerging trend. If you want to establish great rapport with your prospects, you should communicate with them in the way they want to communicate, not just because it will help you find more leads.
What’s the Market Like?
You can find opportunities that are just starting to happen by doing your research every day. This research should include looking at property listings and reading real estate articles.
If you want to be more competitive in the real estate market, you need to focus your marketing efforts on a specific location. Get to know your local market and what makes it unique. You can figure out what your company is missing by examining average house prices, property demand, commission rates for real estate agents, and other details.
You should get information from people who are currently buying or selling. For example, finding out what people are saying about unmet needs on online discussion forums or social media is extremely valuable.
Here are some examples of real estate forums out there:
- REIClub Forums
- Home Buying Forum
- AgentLinkus Forum
- StreetEasy Discussions
Who Are Your Competitors?
You can find opportunities for your business by looking at what your competitors are doing and identifying areas where the market is saturated or where there are opportunities to alleviate buyers’ pain points.
Think about what the successful companies are doing right, and try to replicate their success. What makes companies like Coldwell Banker and RE/MAX so successful? Try implementing some of their marketing ideas to see if they work for your company too.
Then think about what they’re doing wrong as well. Look at where buyers might be disappointed to see if you could meet their needs.
Creating Your Real Estate Marketing Plan
Now that you understand the market, your competitors, and how your company differs, you can begin your real estate marketing plan. Here’s what it should cover:
Describe your target audience
Some things to consider when listing the characteristics of your target customer are: age, gender, location, interests, education level, and spending habits.
Articulate your Unique Selling Proposition (USP)
Make sure you can clearly explain what it is that you offer that others don’t. Write your text so that your target audience can easily understand it. It should be concise and accessible. Read more about this here.
Pinpoint the features that set your company apart
What other things make your organization unique? It may be the way your employees interact with customers or offer a service that sets you apart. In what ways is your company different? Be specific.
The most important qualities that buyers look for in a real estate agent are good communication, the ability to negotiate, being responsive, and having a deep knowledge of the market and the purchasing process. Furthermore, buyers also want their agent to be honest.
Be clear on budget
Your budget will have a massive impact on what kinds of real estate marketing initiatives you’ll be able to execute, so make sure your real estate agents understand your budget.
Select your media channels
Your message will be different depending on the channel you use to communicate. Your team needs to be aware of which platforms you will be using to market the company. This includes traditional methods such as print advertisements, as well as digital methods such as online ads and social media. Your customers will also determine which channels you use.
An example of this would be if you were targeting a younger market, as they spend more time on social media platforms, which would be an effective real estate marketing channel. This means having a message that is both brief and powerful, with visuals that are striking and immediately grab the person’s attention.
Email marketing would be effective if your target market is older, as most people in this age group use email. Your messaging should be focused on their interests, with high-quality images that showcase what you have to offer.
Create a timeline with milestones
The goal of increasing sales is more achievable when it’s divided into smaller goals. It is important that teams have clear goals and deadlines to help them stay focused and on track.
Decide on the metrics you will use
If you want to know if you’re making progress towards your goal, you need to choose goals that reflect your performance. Your sales goals should always be your top priority, but it’s also important to consider which secondary goals will best support your sales efforts.
Some things that can be evaluated to determine if real estate marketing efforts are successful include the number of leads, website traffic, and followers generated. It is important to communicate which of these metrics are most important to your team so that they can focus on the areas that will have the biggest impact.
Use Your Website to Sell You and Your Team
If you don’t have a website, you should make it your top priority. A website is critical for any real estate company. If you’re starting a remote brokerage, you need a website to have a real estate business.
Most brokerage websites focus on property listings. This is not a good way to manage your website.
Individuals looking to buy a property are more likely to visit large websites, such as Zillow, rather than individual brokerage websites. People who visit your site want to know about the real estate agent they will be working with. Your website should highlight your team and why your company is different.
Use your website as a platform for sharing positive reviews and testimonials from customers, and be clear about how your company can meet buyers’ needs.