There are four basic markets a real estate sales representative may wish to advertise into. These are consumers, businesses, professionals, and the trade. Each group requires a slightly different campaign but all campaigns can be centred on a fundamental promotional message. This allows maximum return on investment when designing a brand campaign.
Business-to-business advertising is targeted at the decision-makers of companies that buy real property for their operations. These people may hold positions as land planners, investment coordinators, or leasehold managers. Advertising targeted at professionals, such as lawyers and accountants, can be used to build a referral network or engage your services for their practice. Trade advertising is targeted at builders, renovators, or a peer referral network, to name a few examples. Consumer advertising generates leads and, hopefully, sales.
The promotional toolkit
A sales promotion is a specific campaign to increase sales of a product. Sales promotions are designed to stimulate immediate sales, such as a sale at a local store or coupons. The strategy is to create an incentive that provides extra value to the prospect and compels them to act now.
Consumer sales promotions entice the public to buy or sell a home in the near term, especially if they haven’t made a decision yet on whether to move. Premiums and contests can provide some people with an incentive to act. Trade sales promotions are helpful to connect or reconnect with marketing influencers who can promote your business. Home and garden trade shows and referral commission bumps fit into this niche.
Public relations is a systematic campaign to distribute information through the media. Some examples are blogging, participation in the community, and volunteering. Distinctive activities can be submitted to local media to bring attention to a cause célèbre or other major accomplishment. Publicity through media outlets reinforces the promotional message because it is coming from a reputable source.
Direct marketing communicates directly with your potential clients through telemarketing, direct mail, and response ads on Facebook or Google. An online ad combined with a sales promotion incentive can be a wonderful starting point for generating leads. Experienced sales representatives can use their past contact list for direct marketing by email or text messaging. In a slow market, a single sale from your list can make a world of difference. New agents can build lists through a promotion campaign designed to meet and greet people.
Internet promotion is the de facto standard for advertising. Some sales representatives are energized by the medium and some are terrified. Most agents get by with the help of a friendly website company or a tech-savvy family member. The DIYers drive change which can be seen in the popularity of WordPress, Wix, and Squarespace for real estate sites. The most successful sites try to have a conversation with their audience and their interests.
And finally, personal selling is just that. It’s sitting at the kitchen table or meeting in the office to discuss the pros and cons of trading real property. Live interaction with a prospect gives the agent an opportunity to customize the sales presentation. This component stems from the promotional plan and conversations should evolve from it. If your advertising is targeted at certain buyers, then the personal sales presentation should centre on your knowledge of their issues.