Agents, stop wasting money on advertising
Like you, I am overwhelmed by all the advertising pitches thrown at me every day. Whether by email, by snail mail, in print media or on the Internet, my attention span for these “notice me” attempts is about as short as somebody with ADD on steroids.
I think this marketing recipe described in Inman News is spot on. At best, advertising creates attention. In contrast, good marketing compels someone to buy. For marketing to work it must feel like you are talking directly to me. This is especially true in residential home sales. Real Estate is a relationship game revolving around social networks. Unfortunately, most real estate agents do a pathetic job at marketing, wasting lots of time and money in the process.
The key points in the marketing recipe are:
1. Practice “Potato Chip Marketing”
2. Target market
3. Research your target market’s wants and needs.
4. Develop a hook
5. Keep them reading
6. Layout to stand out
7. You must have a call to action
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Great post David. I especially like the image.
WAV Group has done a lot of research recently on online marketing - specifically listing syndication.
It would appear that the only REALTORS (R) who are advertising at all these days are listing agents. As such, most of the marketing strategy decisions are not made to sell the home, but to satisfy the expectations of the seller. In many ways, listing agents do not want buyers to call them from the ad, they want the agent of the buyer to call them.
What my friend Jennifer Cummings intended to say was that agents should stop adverting for sellers and focus on advertising a brand with a commitment to service and trust.
This is wise advice.
You may want to review the marketing strategy of Chase International in Lake Tahoe as an example of a company that markets their brand according to the ‘recipe.’ They have done a great job, as have some Marin County brokers.
Looking forward to your next post.