Six Steps Toward an Effective Marketing Strategy

Many real estate agents are a bit overwhelmed when it comes to building a marketing strategy. It is one thing to just run a few ads or write a few social media posts, but it is another thing to have an entire strategy in place which you can execute day after day. If you feel that you could benefit from having a comprehensive strategy in place, you may find the following six steps helpful.

#1 – What’s the Goal?

It’s going to be hard to build a quality plan if you don’t even know what you are trying to achieve. And no, simply saying that you want to ‘make more money’ doesn’t count as a specific goal. Instead, you should look a little deeper and identify things that will help you get to the point of making more money, such as growing your social media following, or attracting more referrals.

#2 – Who’s Your Customer?

When you think of the person that would make an ideal client for your agency, what does that profile look like? A first-time homebuyer, or an older buyer with a big budget? Trying to serve everyone is a great way to serve no one, so plan out exactly who your agency is going to target.

#3 – Analyze the Competition

This is a step that many agents miss. You don’t want to construct your marketing plan in a vacuum, as there are already other agents out there doing something similar to what you plan on doing. Are they doing it successfully? What are they doing that you could do better? Filling in the gaps in the market is a great way to track down clients.

#4 – Select your Platforms

There are nearly endless options available when it comes to advertising channels. You can’t use them all, of course, so do some research to determine which of the available methods of advertising is going to be best suited to your needs and budget.

#5 – Establish a Budget

Everything in business comes back to budget. How much can you spend on your advertising campaigns? Remember, you need these campaigns to be profitable, so don’t throw so much money into the process that you’ll never have any chance to see a positive return on your investment. The best course of action is to start small and affordable and ramp up your efforts and time moves along.

#6 – Constantly Adjust

Finally, our last step is one that continues on for as long as you are marketing your business. If you think that you’ll just be able to set up your campaigns and leave them alone moving forward, you are mistaken. It takes ongoing effort to stay ahead of the competition and run campaigns that bring your clients for a reasonable price. Only those committed to the ongoing maintenance of their marketing will be successful over the long haul.