Real Estate Marketing: Quality Over Quantity
When it comes to finding the best real estate marketing tactics, the search is for the ones that garner the highest conversion rates. However, with so many different tactics to choose from, just which ones will actually work the best will depend on a number of factors.
The most important factor is how each method generates new leads that can help bring in potential buyers to the property. There are several different tactics that are time-tested and have proven effects.
– Social Marketing (Facebook, LinkedIn, Instagram, Pintrest, Twitter)
– Direct Mail
– Email Marketing
– Yard Signs
– Bandit Signs
– The MLS
– Radio
– Billboards
– Cold Calling
– Classifieds
– Pay Per Click (Google, Facebook, etc)
– Search Engine Optimization (SEO, organic web traffic)
– Bulk SMS
The purpose of all of these real estate marketing tactics is to generate as high a response as possible. The effectiveness of each tactic will depend in large part on how it is presented
The Right Response over High Response
When you have chosen a particular marketing tactic, the effort should be in getting the highest returns for your investment. For example, getting 1000 leads and 1 sale is not as good as 50 leads and 1 sale because the response to conversion ratio is higher. So, your focus should be on getting the right leads that provide you with the best conversion percentages. The key is finding motivated sellers by using very targeted marketing!
Getting the best conversion percentage is important because the more leads it takes to make a sales conversion, the more time, energy and effort it will drain from you. So, you will want to find the method that provides for you the best types of customers who will sell. Improving your conversion rates while getting the same number of leads is not only more efficient, it will provide you with greater profits as you work less to get more. Quality over Quantity!
How to Get More for Less
Discovering the right type of real estate marketing that produces better leads will require some trial and error. You may have to try something two, three or more times before you know if it is workable for you or not. SEO and PPC tend to be very efficient because they can be targeted for locating motivated sellers where direct mail is more of a scattershot in its approach (unless you are using a very specific and targeted list for your direct mail).
However, direct mail may work better than you might think, so be sure to give it a try and compare the time, cost and effort per sales conversion. There may be one form of marketing that works best for your market but you’ll need to still augment the results by using two or three other methods to catch potential customers that otherwise might slip away. An example of this was when we sent a letter to a seller and they also saw our bandit sign. Both forms of marketing supplemented each other and gave us credibility which ultimately lead to the sale.
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