Real estate investing is a numbers game; The more leads you can generate, the better chance you have at landing a potential buyer. However, generating those leads requires a proven real estate marketing strategy, as juicy real estate leads won’t suddenly appear overnight. A marketing plan will play a key role in how an investors generate leads, including the method and approach they take moving forward. In addition, a real estate marketing strategy will also help to shape the identity of a business, as it aims to enhance creditability and reputation, but also produce a continuous flow of real estate leads.
For those trying to establish a real estate marketing strategy for 2015, the following outlines four points to consider when getting started:
4 Tips To Establish Your Real Estate Marketing Strategy For 2015
1. Evaluate Last Year’s Progress: It is true what they say: you can’t know where you are going until you know where you have been. That said; taking stock in last year’s actions could be the catalyst you need to implement a successful real estate marketing strategy. In evaluating your previous lead generating strategies, it is easier to determine whether or not a plan is worth continuing. Subsequently, if you had relative success in expediting a direct mail marketing campaign, by all means, keep doing it. However, if any of your strategies were met with some degree of failure, now may be the time to trim some fat. If the return on investment can’t justify the implementation of a real estate marketing strategy, consider eliminating it from your repertoire all-together.
The good news is that any investor can take away valuable information from their previous real estate lead generation ideas, whether they worked or not. Again, a failed real estate marketing strategy can tell you a lot about your business. Take what didn’t work for you and reevaluate it from a different perspective. With a fresh set of eyes, determine what it was that caused this particular strategy to flop. At the very least, you will know what to do differently next time.
The onset of the New Year is also a great time to simply eliminate those marketing strategies that have become a burden to your business. While it is always a good idea to see a strategy through till the end, now may be the time to rid your business of those plans that have become a burden. Not every plan will work in every market or for every investor. Therefore, it is equally important to know when to stop a marketing idea that isn’t working. Simply terminating a poor plan can be one of the best moves you make as an investor.
2. Automation & Delegation: As a real estate investor, particularly one new to the business, it is easy to get caught up in the hype of starting a successful career. In fact, one of the main reasons people become a real estate investor is because of the many avenues it presents. There is literally an investment strategy for anyone. However, with that freedom, comes a lot of responsibility. It is critical to stay sharp and up to date on the real estate investing scene. Such a task can prove monumental to anyone looking to master everything.
It is not uncommon for new investors to bite off more than they can chew. Of particular concern, however, are relatively inexperienced investors that engage in just about every real estate marketing technique available. In doing so, it is entirely possible to stretch yourself too thin. Some strategies may not receive the dedication they deserve. Moreover, some marketing strategies that are not necessary may be getting too much attention. Essentially, it is possible to overextend your marketing efforts if you are not ready.
Be sure to master one strategy at a time. Specialization is in no way a pigeonhole. The more you know about a particular real estate marketing strategy, the more affective it can be. Once you know everything you need to, you can practically automate everything else. Conversely, if you are not familiar with direct mail campaigns, consider outsourcing the task to someone who is more familiar with it. Their expertise alone will be worth the extra expense.
3. Be Smarter Than What You Are Working With: While it should go without saying; real estate investors need to learn how to work smarter, not harder. What does that mean? The real estate investing industry favors the ambitious; Those willing to dedicate the time to learning the business will prosper in 2015. However, it is not just a matter of learning about local markets and comparables, but making it a point of learning every aspect of the business. That includes geographic aspects, demographics, the needs of potential buyers and much more. The more you know, the better.
Expanding your education also includes increasing your arsenal of real estate market tools. There are applications and programs designed specifically for marketing purposes. Those with the right tools and know-how will be positioned to succeed in the coming year. Those that neglect these digital tools placed before them will find the competition hard to compete with. When marketing, use every advantage you are given.
4. Create Quality Online Content: One of the strongest marketing tools investors have at their disposal is the Internet. The inherent nature of the Internet allows you to reach nearly everyone in the world by means of a few clicks. However, there are several rules to abide by. As an investor, you can’t just throw anything online and expect it to convert. Perhaps even more importantly, you must conform to the rules of Google. If you want your marketing to do well online, it needs to rank in a favorable position. More over, the only way Google will put you on the first page of any search is if your marketing efforts play by the rules.
While Google is always changing the criteria for front-page rankings, it will always prioritize quality, original content. Relative information is the key to any websites’ success, as generating pertinent online content will help to ensure that ranking comes naturally. The better your content ranks on Google, the better chances your marketing efforts will reach the broadest audience. Once in place, you can filter what your viewers see. This is when you hit them with the real state marketing strategies you prefer.
For those gearing up to start 2015 with a bang, the first step is establishing a real estate marketing strategy. This will help investors to generate leads and build upon their personal brand, but more importantly, align themselves for long-term success.