Congrats, you’ve done it! You followed the plan and you won the listing! Naturally, the next step is to follow through on your marketing plan. It’s time to get as many eyeballs on the listing as possible and earn your commission.
These days, Millennials between the ages of 24 and 38 make up the largest single group of home buyers, and nearly half of all buyers are diving in for the very first time. (Zillow Group, Housing Report 2018) This means that you are more likely to be working with or marketing to a young, first time buyer than ever before. Is your marketing taking this into account? Chances are, you haven’t refreshed your marketing plan in a while, so it may be time to do some housekeeping.
A good marketing plan has four parts:A targeted audience
Content that delivers value
Your first step is to determine the needs, wants & challenges of your target market. Who is the most likely type of buyer for the property? Where are they likely to be online? It’s not their job to find you – it’s your job to find them. As buyers start to skew younger and more tech savvy, consider diversifying your online presence. This means that you might have to get out of your comfort zone and try things like video or Instagram. Being really specific about who your audience is, where they can be reached, and what their questions are, will make your marketing much more effective.
Next, it’s time to deliver some value. Yikes, this is a vague and overused phrase, isn’t it? Let’s try it another way. It’s time to send your audience the stuff they most need and want to help them take action and make informed decisions. Knowing your audience is key, but then you have to deliver. Look back at step one. Who is your buyer? Where is your buyer? How do they like to be reached? What do they really care about? Now ask yourself, “does my marketing speak to that person and answer their questions?”
For example, a first time buyer will likely have more questions about things like costs, deposit & down payment, insurance, maintenance, taxes, renovations, inspections, etc. Does your marketing highlight these items and answer these questions? Unlike an investor, a first time buyer may be more emotionally involved. Are you using your marketing to tell a story of the community or the home itself? Are you using 3D or 360 virtual tours and floor plans to enable them to emotionally move in to the home before they even see it? Delivering value is all about giving the customer exactly what they need, without them having to ask for it.
Consistency is key to a good marketing strategy. Not just consistency in delivery, but also in appearance and personality. You marketing should reflect who you are and how you do business. If your marketing doesn’t let people feel as if they are getting to know you, it’s not doing you any favors. Make sure that your own voice shines through, and that your fonts, colors, and images are consistent across all of your marketing channels. Your photography and videography should be consistently the same look, feel, and quality. This goes a long way towards creating a sense of trust with your audience.
Last, but certainly not least, a good marketing plan includes a process to track your results. Getting exposure for your listing online and off is only part of your goal. You also need to ensure that you can measure the results. When you are sharing on social media, in emails, and on websites, use trackable links so you know where your traffic is being generated. Make it a habit to ask buyer leads where they first learned about the property. The more information you have, the more you can adjust your strategy and get intentional with your targeting.
These days, the Internet and the Realtor go hand in hand. According to Zillow research, 79 percent of buyers shop online, and 74 percent work with an agent. It’s super likely at this point that the person who ends up buying your listing will have scoped it out online before ever stepping foot in it. It goes without saying that an interactive, diverse, and value-packed marketing plan is critical.
As you determine which content to deliver in your marketing, consider the 4 P’s: packaging, placement, promotion, and price. Package your marketing consistently. Be present in the places that will most appeal to your targeted audience. Promote the information they are most likely to want and need. And most of all, price the property correctly.
Having a great listing presentation and winning the listing is only half the battle. To create a truly winning marketing strategy, ask yourself these questions: “Who is your buyer? Where is your buyer? How do they like to be reached? What do they really care about?” Now ask yourself, “does my marketing speak to that person and answer their questions?”