Property marketing is not something that can be done just once. You have to run it regularly. Think of this marketing as the “right diet and exercise” for your business. Just as it's impossible to eat an apple or go to the gym once to lose 5 kg, build muscle and strengthen your body, marketing doesn't just happen once if you want amazing results. No matter how good you are at selling property, you will only be successful if you are able to market it effectively too.
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Method 1 of 4: Developing a Strategy
Step 1. Understand the clients
Clients are the main point in the property business so you have to understand who they are and their motivation. This is important to meet the client's needs. Providing the “personal touch” can be one of the most influential aspects of this business.
- Ask important questions about the types of clients who will spend money on your business. Are they rich or poor? Educated or not? Young or old? Living alone, married, or retired? Man or woman? Is it a business or an individual? Buyer or seller type? All of these will affect the type of business in your marketing, which can have a significant impact on attracting potential clients. Do they want a “bargain” or “over-the-top luxury”?
- Create a mental picture of the client you want to serve, and use this image when creating a marketing campaign. Make sure you get your message across to this client, and not to the general public. Try to build relationships with ideal clients.
- Consider the possible market segmentation for the client. If your real estate business has both personal and business clients, your marketing may have to be different. Other examples of market segmentation include age and income.
- Remember that business is about serving others. Clients are the people who will put money into your bank account. The more a business focuses on serving the needs of its clients, the more successful the business will be.
Step 2. Consider your property type
The marketing strategies for office units, retail spaces, and residences are different. Think about the purpose of the property to predict what the client wants.
- Private clients from low-density areas usually look for single-family homes. They may have children, pets, and are more interested in a quiet, quiet environment, close to school, or in a more private and secluded location.
- In contrast, clients from high-density areas may want to live in buildings that include many people, such as apartments, condominiums, and skyscraper towers. Aspects of comfort, relief, and completeness of facilities in these buildings are usually considered premium things. You can emphasize it to make it more attractive to consumers like this.
- Commercial units are retail and office space. Since this type of property will cover a person's performance, words like “busy”, “strategic”, and “flashy” might make your property look more appealing.
- Industrial properties may become more attractive when you emphasize electricity and water facilities and accessibility. This property may also include warehousing as well as factory space.
Step 3. Compare commercial vs residential properties
The sole focus of commercial property is profit. This property involves selling, leasing or using it for the greatest possible profit. Executed decisions may also be made by a board or group of people, rather than just one individual.
- In contrast, residential property typically involves an emotional individual purchase. Some investors in properties like this may want to buy a house to "resale" for a profit, or want to grow their wealth by renting it out. However, most are usually individuals or families who want to find their own place to live.
- If you want to buy, sell, or rent commercial property as an agent, make sure you can represent tenants looking for these places, building owners, or investors looking to make a profit.
Step 4. Run a SWOT analysis
SWOT stands for Strengths (advantages), Weaknesses (lack), Opportunities (opportunities), and Threats (threats/risks). While SWOT was originally developed for planning competitive strategies, you can also use it for marketing. A SWOT analysis should be the first stage of your marketing plan. This way, you can understand the business you run, so you can improve your ability to identify the ideal client. The goal is to turn weaknesses into strengths and threats/risks into opportunities.
- Strengths and weaknesses are internal organizational factors. An example of an advantage is a strategic location, while an example of a disadvantage is a lack of capital to invest.
- Opportunities and risks are external factors. An example of an opportunity is an increase in the number of target clients moving into your area. Meanwhile, an example of risk is the entry of new competitors.
- Once you identify the advantages, disadvantages, opportunities, and risks, develop a matrix to help define a strategy based on the relationships among these factors. For example, you can create a strategy based on the advantages and available opportunities.
Step 5. Set goals and plan tasks
Your goals will likely have to do with income, as the grand strategy is to sell/rent as many properties as possible and/or receive as many commissions as possible. To achieve all of these goals, plan what you want to do and when. List the tasks that must be completed to launch your campaign successfully, as well as an estimate of how long it will take you to achieve them. Then, write it down on the calendar. Take responsibility for these dates.
- Prepare for both short- and long-term tasks, such as contacting the newspaper to ask about weekend advertising prices, or a one-page ad in a bimonthly magazine, or a holiday ad every two months, for four months or more.
- Give yourself plenty of time for self-development.
Step 6. Tidy everything up
Set up folders to put things together. Or, if you're not tech-savvy, make sure all files and folders have clear and specific names and dates. Don't let your desktop contain untitled documents.
- Write everything down. You may have a lot of ideas, but all of these ideas are useless if you don't implement them. A good first step to executing a strategy is to write it down.
- Get a notebook or whiteboard from an office supply store, or use your cell phone.
Method 2 of 4: Using Traditional Marketing Techniques
Step 1. Use MLS
“MLS” is a term in the brokerage world to refer to a multiple listing service. These services provide a variety of information and professional relationships, which can be very useful in marketing properties. MLS is usually a local organization run by a group of brokers. Do your research to find MLS in your target area.
- Many online sites offer information about these MLS services, but usually not all of the information is comprehensive. Try searching for more than one to find the one that fits best.
- These services are usually not available to properties without agents, such as those sold by the owners themselves.
- You usually have to pay to enter MLS.
Step 2. Contact potential clients directly
Send mail directly to contact many potential clients. As regular postal services have become a rarity in modern times, each letter you send will be more and more unique. In this way, your message also reaches the hands of potential clients.
- Use glossy paper that attracts attention.
- Take the time to develop the look of the letter. Use full color images and take advantage of location photos that will keep the client interested.
- Try providing something more useful, such as information about an open house event, or the best time to move; don't just promote.
- If you're doing a lot of marketing, consider taking the bulk mailing option from the post office. This way, you can send multiple letters at a time for less money than buying individual stamps. In general, the minimum number of letters to get a discount is usually 300-500.
Step 3. Do telemarketing
Telephone marketing has long been a successful way to spread the company's message. It's easy, start by contacting old clients, or use a call center service to make massive phone calls. Be careful and make sure you call effectively, as this can be seen as a very aggressive method of marketing.
- Contact existing clients to survey their satisfaction after moving to the property you are selling.
- Contact current clients to offer new properties.
- Contact the homes offered for sale by their owners.
- If you live in the US, Robocalling, or sending calls with a recorder, is mostly prohibited by the FTC in the United States. If the customer has given their prior consent to contact them by this method, you can do so, but, as a general rule, phone calls should always be personal and "direct."
Step 4. Use newspapers and magazines
For many real estate agents, advertising in newspapers or magazines can be an effective way of marketing. Many media outlets offer full color ads in addition to black and white, with a variety of different pricing options.
- Place an ad in a newspaper or magazine. Advertisements that are regularly read by target clients can be a cost effective marketing strategy.
- Newspapers with national circulation, such as Kompas, have the advantage of being able to attract a large number of readers, but this approach is very common. There may not be many potential clients living in your area.
- Try advertising in local or regional newspapers and magazines. Ads like this target a specific region and are more likely to attract clients.
- Write a column for the local newspaper or magazine about housing and properties in the area. This strategy can develop awareness of your presence in the community.
- Write a press release about your prestigious property or innovative marketing campaign.
Step 5. Create a newsletter
You can promote your business through a newsletter that is sent to clients by post, email, or posted on a website.
- Newsletters with specific information for new homeowners or clients can help you build relationships, and possibly generate word of mouth marketing.
- Make sure you include engaging content and property tips, which will encourage clients to read the newsletter even after their time with you is over.
Step 6. Place an ad in the phone book
Advertisements in the commercial section of the target area phone book are still a useful way of marketing some types of industries. However, phone books are becoming less and less common these days, as some places don't even need a phone company to distribute their directories.
Placing an ad on Yellowpages may also be helpful because the ad will also be shown on the internet
Step 7. Advertise on boards and banners
Ad space like this can be very cost efficient, if designed and placed properly. The key is to place ads in locations that are crowded and seen by many people, and rotate them regularly to maintain consumer interest.
- Some high-tech billboards even offer the possibility of advertising videos, although they are more expensive.
- Take a professional passport photo if you wish to have it attached.
- Hire a professional photographer to photograph the house.
- Invest in hiring a graphic designer to amplify the ad.
Step 8. Create a radio or TV ad
Radio or TV broadcasts can be an effective way to reach a large number of clients. If funds are limited, look for marketing methods through television or public radio stations.
- Get client testimonials about their experience with you as an agent.
- Film the client on his new property.
- Develop an interesting narrative. These narratives, also known as short sales or elevator narratives, are the perfect method for radio and television marketing. The main idea is to say all it takes to ride an elevator (elevator), or less. Take care to develop and practice delivering a good sales presentation. This is also useful when you are developing a personal network.
Step 9. Get referrals from existing clients
If you have clients who are happy with your services, ask them to help you get more clients. This is called the referral method. Most satisfied clients will be happy to tell others about you, but usually they won't think so unless you offer a reason or incentive.
- Most of the property business comes from referrals and word of mouth.
- If you find a way to reward or incentivize clients for bringing in new clients, they will do so more often and with more enthusiasm. Examples of these gifts include cash, vouchers, or parcels.
- Don't forget to market this referral program. To be successful, the client must know it. You can ensure this by communicating in person, placing a sign at the office, or placing an online advertisement.
Step 10. Send gifts to your valued clients
Send cards or small gifts to these clients, at the right time. Also take the opportunity to remind them of your referral program.
- Birthdays and holidays are great times to contact current and existing clients.
- Vouchers, even if it's just to buy coffee or other small things, can go a long way in developing a relationship.
- New home celebration gifts are a great way to complete individual deals.
Step 11. Build a network
Chambers of commerce, service organizations, and other groups are good ways to network with business owners and potential customers. Join as many groups as possible to achieve goals.
- You must be an active member of the organization you follow. Ordinary members will not bring effective results when compared to proactive members. Join the meetings and events of these organizations, and talk to as many people as possible.
- Make sure you develop a mutually beneficial relationship. People are more likely to send clients if you can repay them.
- Also make sure you don't overtly market your business. Contribute those business values to the organizations you belong to, while sharing your own information and expertise when needed.
- Sponsor an event. A good way to build a reputation within an organization is to become a sponsor. Events, such as festivals, dinner gatherings, competitions, and auctions, provide opportunities to develop strong relationships with various organizations.
Step 12. Take a broker meeting
If you're in commercial property, broker meetings can be a great way to market properties that are ready to sell or rent. These meetings are usually sponsored by local businesses or associations. You can also use it to build a network.
Method 3 of 4: Implementing Digital Marketing Techniques
Step 1. Create a website
The website is the perfect place to show off the house listing to all potential clients. Sometimes, these clients are not local or easy to reach in traditional ways. Almost all good real estate businesses today need a website to help with their marketing efforts. Some clients even expect all legitimate businesses to have a presence online.
- Make sure you optimize your website for search engine needs. Improving your SEO strategy can draw a lot of attention to your business. Take the time to make sure the language on your site matches what users are looking for online.
- Consider a pay per click campaign. If a website is your business world, or at least is closely related to your business, consider starting a pay per click campaign to help attract certain clients to your website.
- Develop a target both for the keywords you want to use and the types of consumers that will give you the best results. You will use these results at a later date when preparing your campaign.
- Install social media follow buttons on your site. This will make it easier for people to strengthen your presence on social media. Make sure these buttons are in the correct locations on each page.
- Provide free tools or services on your site. Providing clients with a variety of useful resources will strengthen your credibility in their eyes. You can add tools to search for properties based on entered criteria, calculate EMI, estimate home values, and select the right local area of your site. You can also provide free chat-based consultations to help potential clients find their answers to all questions related to the property world.
Step 2. Take advantage of networks/social media
With so many networks and social media in modern times, you can use them as an essential tool. There are many ways to use social media to market a small business.
- Focus your social media presence and communications on the benefits your client will get, rather than the features of a property. In other words, people will buy, sell, or rent properties based on their needs, not those that have certain features.
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Use the social media tools that the client uses. This may include social networking sites, blogs, or microblogging sites, for example:
- Use a variety of content types, from text and images to audio and video. Clients are more likely to notice your online presence if there are multiple ways for them to interact. You can even give video tours of your properties.
- Be active on social media regularly. Just having an account is not enough. You have to be online for clients to notice you. Schedule regular times, at least once a week, to upload new content.
- Invite friends, family, colleagues and past clients to like or follow your social media pages, so they can see and share your messages. Make sure you keep in mind that people need to be willing to share and “like” the content when you design it.
Step 3. Start a campaign via email
Send bulk emails at once to multiple subscribers. This is a common marketing trick. Make sure you have the email addresses of clients and potential clients. However, be careful that you don't send too many emails or you'll be marked as spam.
- Although research shows that online marketing like this only has a small effect, in fact these tricks can improve the performance of the property business.
- Encourage clients to share content by adding a share button to your email.
- Set up a sign-up form on your site.
- Use the customer's name and other details of your interactions with them to give the emails a personal touch. This method is more difficult to work with in bulk email sending.
Step 4. Syndicate
Web syndication apps allow you to unify all your online presence, then write content on multiple platforms at once or on a scheduled basis. This trick can be a key strategy for dealing with large amounts of online content.
- Share other people's content related to real estate. Thus, your professional connection can develop quickly. People are more likely to share your content if you do it for them first.
- Post your content in as many places as possible, so potential clients have multiple ways to access your business. Someone who visits your blog may not see your Facebook page. Syndication can increase the chances of clients seeing what you create.
Method 4 of 4: Perform Non-Traditional Ways
Step 1. Advertise in unique places
A good way to stand out is to advertise your brand in unexpected places. This way, it is easier for people to remember your company. Locations like these can help your brand stand out from competitors in the same area.
- On the vehicle. There are many ways to turn a car into a running ad, for example by sticking bumper stickers, decals, car wraps, and so on.
- Place an ad in the cinema. Cinemas usually play commercials before the film starts. Widescreens are a great way to showcase the beautiful features of your property.
- Write a message in the sky. Many businesses offer writing services in the sky. Look in your area. Make sure you time it well and choose a location that will be seen by as many people as possible.
- Share free stickers. The main idea here is that some people will stick the stickers in various places, so that your logo or company name spreads out.
Step 2. Learn from industry leaders
See what competitors and others in your field are doing to market their business. The same way might also work for you.
- Develop a strong brand. Research shows that people are more likely to remember property companies that have attractive logos to represent their brands.
- Develop your message. Big companies adapt their marketing strategies to make a profit. You can do that too. Developing "unique phrases" that represent your brand and business values can help. For example, who hasn't heard "I'm lovin' it?" or "Just do it"?
- Prepare an adequate marketing budget. Not enough budget will only mess things up. Marketing is a large portion of a company's budget.
- See the online presence of property competitors in your area, then adopt their proven tactics.
Step 3. Be guerrilla
Guerrilla marketing refers to the practice of using surprise and/or unconventional interactions to promote products. This practice is useful for small businesses on a tight budget, as it relies on viral and word-of-mouth marketing, so broadcasting the promotion is free. This type of marketing can be considered a “unique” or “attention-grabbing” type of marketing, with the main target being usually the younger group. There are various variations of this guerrilla marketing.
- Viral marketing, which is based on the assumption that users like to share interesting content. By creating surprising or eye-catching website content, which is then shared by users of various sites, you can count the traffic on your website to a large number, so that your presence in the market is increasingly felt.
- Ambush marketing is when you attend an event sponsored by a competitor, for example showing up at another agency's open house to win over its clients. This way of marketing can be considered very aggressive.
- Tissue packing is a type of guerrilla marketing that uses tissue or other useful items, which have been used as a marketing tool for a company. This kind of marketing is considered long term, because it continues to convey the message until the product is completely used up. Products bearing your company logo, such as candles, a box of tissue, or chopsticks, can be used in this tactic.
Tips
- Consider taking entrepreneurship, business, property, and marketing courses from a trusted source. All these classes will be useful.
- The local library is a valuable source of books and periodic financial reports, which can help you market your property business.
Warning
- While there is a lot of marketing information for sale, be careful. Do some research on the author before you buy it. Many promise wealth, but few actually deliver useful information.
- Some types of marketing investments will not bring good results, they may even cost you money. Be prepared for this, but don't worry too much. You will learn from these marketing failures and be able to improve your strategy in the future.
