3 Cost-effective Marketing Strategies for Real Estate Investors

Real Estate IQ, Marketing, REIQSummit

Marketing strategy is important in business as it helps you to establish your brand and to stay on top of the competition. In a study conducted by the Harvard Business Review, 23% of the customers are willing to establish a relationship with the company brand while 77% of the clients are interacting with brands based on their needs and other marketing promotions, such as availing discounts or freebies. As a real estate investor, you need to apply different marketing strategies to meet the varying expectations of each client.

In starting up a business, an effective marketing strategy is necessary in creating a company name and in maintaining brand reputation. Likewise, a consistent marketing plan is also a must-have to boost your sales. However, having a marketing plan may be costly if you will do it without proper assessment. Instead of generating more profits, it may even cause you unnecessary expenses.

As leading businesses spend lots of money on paying for advertisements, is there a way for you to win the high competition in just allocating a minimal amount for marketing? Certainly, there are cost-effective strategies that you can explore:

Digital marketing

With the advent of technology, you can make marketing a faster and easier task that you can accomplish with less compromise. You may utilize all means possible and win your deals through the following digital platforms:

  • Social media
  • Video marketing
  • Sending email
  • Maintaining a business Website
  •  RVM

 Physical marketing

Despite the lockdown measures imposed by the government in response to the COVID-19 pandemic, physical marketing remains relevant because motivated sellers and potential clients generally appreciate personal communication to build trust.

Physical marketing is not only limited to a personal meet-up or a personal appointment. It includes anything that incorporates the use of a tangible marketing tool in order to amplify and promote your business and services. Here are some of the strategies that you may do in pursuing physical marketing:

  • Door-knocking
  • Meet-ups and meetings
  • Giving Business cards
  • Providing flyers or pamphleteers
  • Yard signs/ bandit signs
  • Bird-dogging

Networking

Networking strategy means keeping your relationship to other real estate investors for purposes of mutual business growth and development. Networking may be done in both physical and digital ways. For physical aspects, you may maintain a good network by attending business appointments, meetings and seminars. On the other hand, networking may also be done in digital ways such as participating in online training, webinars and other virtual events.

Engaging in marketing strategies is a lot better when you learn from the stories of experienced investors. Join us in our community portal and enjoy the atmosphere of learning and teamwork!

Invest in Automation tools

Whether you are comfortable with physical or digital marketing, equipping yourself with automation tools will make your marketing plans more efficient. You can dedicate more attention on doing other tasks and save a lot of time by investing in automation tools.

In Real Estate IQ, we want to empower your journey to freedom and success. In this note, the best way to serve you is by offering investment tools that can help you ace your marketing goals.

You may check our Premium Deal Finding Suite and receive top off-market lists with the skip-tracing already done for you! We will give you the data you need to take your marketing efforts to the next level.

If you want more articles about real estate investing and business tips, feel free to check our investment blogs here.


Credit:
Vance Wampler has 7 years of experience as Broker, investor, and mentor. He completed over 400 transactions including SFH, 1-4 Family, multifamily, self-storage, and RV parks.

Sources: https://www.forbes.com/sites/forbesagencycouncil/2018/02/09/four-reasons-why-branding-is-imperative-to-your-pr-strategy/#7b0dd5a72455

https://hbr.org/2012/05/three-myths-about-customer-eng

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