Having a marketing strategy in place is not just a trend: according to KPMG Global PropTech Survey 2019, 58% of the companies surveyed have one already in motion. It doesn’t seem to be something that will fade away in the near future, mainly because it’s extremely helpful to earn money. How? By helping you to be seen and to have consistency through automation.
A marketing strategy is a plan; it’s a way of doing things. Once you set it up, it lets you establish a routine and automate specific tasks. For instance, one of the critical assets you need as a real estate investor is a reliable list that feeds you with new leads on a daily basis – like Real Estate IQ’s Off Market Leads. And while this is essential, it doesn’t solve all your problems. Sure, you receive the list on your email, and you ensure yourself a daily pipeline of leads; but if you don’t browse it every day, select the leads that appeal to you the most, and consistently contact them until you land the deal, your work is halfway done.
And here is where the marketing strategy makes its entrance. If you develop it, what you’ll get is an improved workflow that works in several ways:
- It promotes you and your business
- It organizes your leads
- It helps you to contact them
Once it’s in place, you will have the time to focus on the part of the business that can’t be done by anyone or anything else: closing deals. Don’t believe us? We have a free eBook to prove it! “Selling like a pro. The secret tool to optimize time and money” gathers insights, advice, ideas, and tools to implement a marketing strategy and boost your sales. You can download it now at no cost, or keep reading this article and find a sneak peek.
How to develop a marketing strategy?
To begin with, there are two critical aspects in a strategy: first, to have a clear and specific objective, and second, every effort you make should go in that direction and be complementary to one another. Thus, you should ask yourself your goals and aspirations and then see what actions fit them. Remember that your marketing strategy isn’t something you can copy from others; it has to make sense to your business.
For example, when it comes to promote yourself and reach out to market sellers, you can opt for a mixture between analog and digital strategies. Real Estate IQ’s Head of Growth, Becky Kromminga, shared five ideas to take into account:
- Use bandit signs (putting up a sign might be old school, but it’ll give your business a considerable amount of exposure if used right. They are very dependent on the area and demographic, and be careful of Code Enforcement).
- Send handwritten communications (you could limit this approach to the leads you’re interested in. Though it might take some time, this idea adds a personal touch and shows that you care enough to write a note down. In fact, they are better received than printed notes. Mix up postcards, yellow letters, professional letters, greeting cards, etc.).
- Send direct emails (this strategy requires a consistent effort and is a long-term approach; usually, 6+ touches are needed).
- Have your own website (it’ll give you credibility and increase communication channels).
- Put billboards, radio ads, and TV commercials (these require a significant initial investment but increase your business exposure).
As we mentioned before, please keep in mind that every effort you make regarding marketing should be aligned with your goals and your business. And the same advice applies to tech solutions. Though it’s tempting to try every app in the market that promises to help you with your visibility, organization, and automation, you should take a minute and analyze each one of them. Are they beneficial? Do you already have another tool with pretty much the same functionalities? After all, having similar strategies and apps will waste not only your time and energy but also your money.
The secret behind a great marketing strategy
Yes, a marketing strategy should be customized to its user. However, successful real estate investors have a common ground to build their plans: a CRM. We talked a bit about CRM systems here, but basically, they’re effective tools to filter and track leads, run marketing campaigns, manage ongoing projects, and even store receipts and contacts.
The downside is that CRMs are usually expensive and hard to set up. For that reason, it’s believed that they are designed for big investors and not for small businesses. Well, that’s not entirely true. At Real Estate IQ, we have our own CRM Integration! It comes with off market leads, a Kanban-style dashboard to manage projects, room to store essential documents, and the chance to integrate it with third-party tools that will allow you to run marketing campaigns through outbound calling and SMS messaging.
We based it on Podio and created two different plans, so you can choose the one that best suits your needs. And the best part is that we do the customization! So, you don’t have to waste time figuring out how to adapt it to your needs. If you want to know more about it, don’t hesitate to ask for a free demo (with no strings attached)!
Are you unsure about how this tool can help you build your marketing strategy? Download our free eBook and find a step-by-step guide!
Disclaimer: The blog articles are intended for educational and informational purposes only. Nothing in the content is designed to be legal or financial advice.