By Upendra Mishra
BOSTON—Before you waste more money, energy and time on expensive new media marketing campaigns, take a look at these three myths about real estate marketing you may be falling for.
After experimenting with the new media, including social media, for more than a decade, the time has come to go back to the basics of business development and marketing, using this new media to enhance traditional marketing strategies.
First the myths
- Social Media: Your organization has a strong presence on Facebook, Linkedin, Twitter, Snapchat and all other social media outlets, where you are actively spreading your message on these channels; this should bring new clients, right?
Busted: If you are selling your architectural, construction, design and real estate development and leasing services, clients will not come to you this way. You can broadcast your message, but that is all it can do. No one is going to hire you because you are all over social media.
- E-Newsletter or E-Blasts: You can reach all your potential customers via email campaigns.
Busted: Obviously, it is much cheaper to send out e-blasts to your existing and potential clients; it is quick and you can track the response but be just aware that only about 20 percent of people are likely to open your email (if your subject line is damn good) and less than three percent of those are going to click. Don’t ignore the remaining 80 percent of your target audience by relying solely on email blasts.
- Website: You have a great and dynamic website and you think people should hire you because you have clearly outlined your expertise and displayed your projects.
Busted: It is good to have a dynamic website and it should serve as great brochure (remember the one you used to handout in important meetings and presentations?) It is a great source of new business when you are in the retail business. But for selling a real estate service to a new client, website is not enough.
Going back to basics
Yes, it is important to use all the above channels to maximize your reach. They will definitely enhance your business. But a truly effective strategy must go back to basics. Here are a few steps you can take:
- Past clients: Contact everyone you have worked with in the past 10 years. Tell them how you have expanded your services and that you want their business. Call them, meet them and re-introduce your business to them.
- Database: Building a good, well-organized and living database is half of the marketing challenge. Spend some time on your target audience, organize your database (it will help you with your e-marketing as well) by sectors and sub-sectors, and use it effectively.
- Events: Organize workshops, seminars and seek speaking engagements at targeted forums. Events are coming back as a staple of the industry.
- Trade organizations: Become active in trade associations of the industry you are targeting. If you are looking for life sciences clients, for example, join Mass Biotech Council and be active there and network.
- Referrals: Cultivate your referrals. Ask your past clients to recommend your services to potential clients.
- Get out of the comfort zone of desktop marketing. Be on the road; meet people either one-on-one or in groups to effectively market your businesses’ services.
(Reprinted with permission from www.BostonRealEstateTimes.com)