The real estate industry has proven to be one of the most competitive in the world. There’s no way around it. Quite obviously, this is largely due to how lucrative it is once you see some success in it. However, to sustain success in this industry requires extensive preparation. This is especially the case when it comes to marketing. What makes marketing different in the real estate industry is that it requires more upfront investment and planning to implement correctly. Since there are so many options for people, it also requires coming up with creative ways to sell your unique selling propositions.
Otherwise, you’ll quickly get lost in the sea of competitors no matter how much financial resources you have dedicated to marketing your business. Having said that, the online marketing scene has made promoting real estate fairly easy nowadays. While it still requires preparation, digital marketing efforts have made it easy to track your marketing success in real-time. It also allows you to make real-time adjustments to improve your conversion rates. Now that we understand how powerful and crucial it is to market in this industry, let’s take a closer look at ways to get a leg up on the competition. Here are five easy marketing tips for real estate businesses.
Prioritize Organic Marketing/SEO
The competitiveness of the real estate industry has naturally made it one of the most expensive to be in. This includes getting your foot into the industry, prospecting, and marketing as well. This is where the importance of organic marketing comes into play. Also known as SEO, this marketing method allows you to gain traffic to your website essentially for free. The technical side of SEO can get a bit tricky but, it’s worth learning to save some money.
Have A Strict Paid Search Marketing Budget
Having mentioned how pricey it can get to market in real estate, it’s worth noting the importance of having a strict budget. Having a strict budget for paid search marketing efforts prevents you from overspending for potential clients you can get at a cheaper price. This is one of the major benefits of online paid marketing. While it’s strongly suggested to have as big of a budget as possible, you can even start a paid campaign with a budget as small as $5 a day.
Don’t Forget About Traditional Marketing Methods
With all the attention on online marketing, your real estate business can take advantage of traditional marketing methods. While online marketing has more advantages, traditional marketing methods win in the area of approachability and transparency. In other words, methods like word-of-mouth help your business come off as more client-oriented rather than money-driven.
Push Your Marketing Efforts Through Your Brand
Branding is another area where many in the real estate industry forget to prioritize. If you can do it correctly, establishing a reputable brand essentially eliminates paid marketing. It’s another form of organic traffic that you don’t have to pay for. Worth mentioning, you can’t just change a logo or motto and expect to get brand recognition. Creating a brand is something that takes time to build. It requires the accumulation of positive reviews, showing proven results, and consistency as a whole.
Have A dedicated Competitive Research Marketing Campaign
Competitive research is arguably the most important marketing tip to implement in this industry. This is how you determine your marketing game plan and direction. For example, if you know how much money a competitor is spending on marketing, you can assume that spending more for the same efforts will benefit you more than your competitor. Another benefit of competitive research is that it shows you who is worth competing with. Sometimes staying in your lane is more beneficial than trying to be number one. Especially in this industry where, as we mentioned, the cost of marketing can get out of control.