Marketing is a big word. Not by letters, or by the difficulty in saying it, but it is a big word.
When we talk about marketing we have so many factors that need to be analyzed in order to be successful in the accumulation, production and distribution of our message.
Within a sales field, we have the Four P’s of marketing, Product, Place, Price and Promotion. Within real estate, we have control of all these factors but in actuality, we only have the ability to manage one of them.
Promotion is what we do in the real estate industry, but what is interesting is that promotion influences the other three factors.
The way that a real estate agent markets, themselves and their business affect the type of properties and their location. The way that they market the listing will affect the number of viewings, the number of offers and that, in turn, creates variables in the closing price.
With that being said, the question is, what is the best way to market? To that, there is no right answer. We must analyze the business that we are in and position ourselves within the market to match what we are looking for.
For Example:
“I am a 10-year, experienced agent looking to work within a 25km radius of my local community. I am interested in working mostly with first time home buyers as I enjoy helping those starting up and love to be a part of community growth and change.”
We have a lot to work with here. We know the level of experience, the location, the type of people they want to work with and we know the why.
Let’s start with where they should be marketing. First time home buyers are mostly part of a younger generation of individuals meaning that more often than not, an agent will be seen by them through social media and online marketing. Posting on social media community groups and using hashtags that relate to the local area will help create more exposure for your information.
When it comes to the messaging or the “how aspect” of your marketing you need to understand 3 things, how your client thinks, acts and feels. We obviously want to have a database of clientele that match our culture and reflect the way that we work, so being real and authentic will help deter those that do not match your energies and help you do more productive and enjoyable business. In regards to the above example, being honest in your messaging will also be a stand out factor in persuading clientele of a younger generation.
Now, I know that there is a lot of opinions regarding Tik Tok, and in all fairness, I believe that there is validity in most opinions but with that being said, it really does depend on who you are marketing to. If your business is generated in a retirement community, your clientele will most likely not be seeing you or your content on Tik Tok, but you know who will? Their children and grandchildren. Even when it seems like a tool is useless, we find value.
There are so many different ways that we can communicate with people; social media, direct mails, calls, emails, texting, flyers, online ads and in person. All of these tools are at our disposal in order to grow our network. We have to remember that there is no cookie-cutter option that is most effective because every tool has its strengths and its weaknesses. Every business will have a different way of doing things that will see to their client’s needs, solving their problems and influencing them to take the necessary action to provide you with the business you are looking for.
A great analogy would be like comparing the best way to market to taking a screw out of a wall. Sending a direct mailer to a millennial buyer would be like using the back of a hammer to take out a screw, it will eventually work but a screwdriver (online ad) would work better and a drill (social media post) would be best.
Understand who your clients are and market to them in a way that best speaks to them. Be mindful of their wants and needs and be true to who you are in your messaging. Along with that be consistent in a way that best influences your clientele. Better marketing will create better business.
