The best realtors stay ahead of the curve with their marketing ideas because great marketing allows you to spend more time connecting and nurturing your client relationships, yielding increased referrals. Great marketing ideas lead to increased business.
As you probably know, 75 percent of a real estate agent’s business comes referrals and word of mouth. Here’s the crazy thing:
most agents are still spending way too much money on new lead sources, rather than investing in their existing clients.
Here’s another way to look at it: if most new business is coming from past clients and it generally costs six to seven times more to acquire a new customer than it does to retain an existing one, then it’s smarter to focus efforts on marketing to past clients.
Here are four ways to do it effectively.
1. Be Mobile and Responsive
We know that going mobile is important in terms of you posting to your social networks while on the go. This is still true, but the focus right now is on the importance of being mobile accessible.
You cannot avoid it anymore. Your website and emails need to be designed for all devices and screen sizes and be responsive. Sixty-six percent of emails are opened on a phone or tablet. Facebook has more than 650 million daily active users on mobile devices. And mobile traffic to websites now accounts for almost 30 percent of visits. In short, there are plenty of reasons why you need to be sure that your business is mobile ready.
Being mobile-friendly ensures whoever reads your emails or visits your website has a good experience and that this experience creates a positive perception of your business. If your website is up to date, your business will be, too.
2. Automate Your Content Marketing and Sourcing
When crafting the perfect email newsletter and sharing content with your social networks, coming up with topics to write about and things to share can be challenging. You want to send your email subscribers informative/entertaining content with the purpose of helping them, not selling to them, and you want your social feeds to be filled with the same. However, getting this accomplished is no small task.
For email newsletter content, there are companies like Scripted and Contently that will connect you with freelance writers to do the writing for you.
To find content to share on social media, here are two tools that are used, Zite and Flipboard. Both are news and blog aggregators that are topic based. Just plug in what you want to read about, and they’ll display an up-to-date visual collection of articles. Buffer has a great list of newsletters to sign up for and tools to use for content sourcing too.
Automating some (or all) of your content marketing and sourcing can help free up your time to focus on more important things.
3. Avoid Zillow/Trulia
Zillow’s acquisition of Trulia aside, paying for leads from these websites is expensive and not that effective. On average, agents spend $320 per month on leads from Zillow, and it’s estimated that leads from these websites convert to new business only one to four percent of the time. Not the greatest use of your marketing dollars.
Zillow and Trulia provide a service that many casual home shoppers want: a consolidated list of available homes for sale in a centralized location. However, most agents (with good reason) don’t like the idea of their listings being submitted to these services only to then have to pay to be featured as the listing agent. There are some multiple listing services that are now sending limited data to these services to attempt to remedy this problem for their agents too.
Spending your money on new leads isn’t as cost-effective as investing in your referral business through your existing clients.
4. Blend Old School and New School Marketing Efforts
When realtors bring new ideas to their business, they often forget the old, effective ones. Some of the old strategies that helped successful realtors in past decades will still help you now. ..Only, you can modify them for this tech age.
People will always love to receive greeting cards in the mail. If people didn’t hope to “get something good” each time they opened the mailbox… If mail were only bills, no one one would check the mail. So, use that to your advantage. Be the good in the mailbox.
Mail thank you notes and birthday cards to your clients. Send announcements when you sell in a specific neighborhood. …Use automated card technology like SendOutCards to make it easier.
As you implement each new strategy, ask yourself if it’s bringing you new clients or if it’s helping cultivate the relationship with existing clientele. If 75% of new business comes from existing clients, then dedicate 75% of your marketing to that existing clientele and watch your business grow.