I have been in the marketing/advertising world for over 20 years now, and I have seen multiple philosophies on how, what,when, and where to market yourself. I have seen companies that only market themselves when times are good, and those that only market themselves during peak times of the year.
The number 1 mistake small companies and entrepreneurs, (including real estate agents) make is not ‘what’ or ‘how’, but ‘when’ in their strategies, as consistency is the key that gets overlooked, and many-times, forgotten
Setting your marketing budget is strategic to you at the beginning of each year. A good marketing budget is 7-10% of your income set for advertising. Setting up your strategic plan with a good mix of PPL (Pay Per Lead), and branding is key.
Let me be clear, I am not a proponent of PPL. I think it is criminal for companies to sell the same lead to multiple different people and call it a good business practice. That being said while you are setting up your own lead generation network, it is a necessary evil.
How do you set up your own Lead generation?
A consistent approach to your marketing is key to good lead generation.
- You have to have a good lead generation website to drive traffic to. THIS PART IS KEY! It’s ok if someone else is managing it for you, but drive the traffic to your own website. It is much easier than you think
- Display Advertising! People are spending more time online than ever before in history. In 2019 it was almost 7 hours per day, in 2020 that number is expected to be closer to 8 hours.
- Behavioral Targeting drives people directly to your page that are interested in hiring an agent to buy or sell a home.
- Retargeting – This is the practice of when someone lands on your web page but does not perform a desired action such as filling out a form, click to call, or chat, you serve ads to this person on other websites, and apps, including Facebook that they visit.
- Example: A lot like when you’re shopping, and then you navigate to a different page and that exact product you were just looking at is on your web pages you visit and Facebook feed.
98% of people don’t make a decision on the first visit to a website
- Sphere of Influence, word of mouth, networking, emails, old clients
- All best practices and inexpensive forms of developing a good pipeline.
The most important part of this 3 step system is that you do it consistently through the year. The most expensive piece of this is PPL, which over time can be faced out as you continually develop your own lead generation, through your digital footprint. It may take 1-3 years, but over time the continued steady and consistent approach to your marketing will pay off. Successful Realtors in the industry do just this. They have found what works and they stick to the consistency of their marketing approach.