Here are 7 factors that every real estate agent must incorporate into their marketing plan:
1. Set a budget
Before you do anything else, do this. Some agents freestyle it when it comes to marketing budgets — that’s not going to cut it. Others aren’t ready to treat their profession as a business and hoard commissions for personal expenses instead of reinvesting. People who do this are salespeople — not business people.
When setting a budget, start by taking your combined earnings from last year. Let’s say you made the median income for an agent in 2018, which was $41,163 according to Salary.com. Allot 15 percent of that toward marketing in 2016.
That’s $6,174.45 annually or $514.54 a month. Once you’ve set this number, you can figure out how much of your monthly budget to spend on marketing initiatives.
2. Define your ideal customer
Every agent has a target demographic. It might be 20-somethings buying apartments, new families looking for bungalows or luxury buyers seeking vacation homes. Whatever it is, define it.
3. Adopt a mobile strategy
Statistically speaking, at least 48.2 percent of people reading this are reading this from their phone. According to Statcounter, mobile-only Internet users account for 48.2 percent of all Internet traffic.
Desktop-only users account for 47.78 percent of Internet traffic. So that means that just under 80 percent of all Internet users are on both their desktop and mobile phones.
4. Develop a cross-platform social media plan
Only having Facebook or Twitter won’t be enough in 2019. As your customers duck and weave across platforms, you have to do so with them. Continuing the conversation across platforms is the key to building an effective brand.
5. Get a little boost from paid social
Relying on organic reach alone won’t be enough on social media. If you are sharing blog posts or important updates, make sure to boost them on Facebook.
6. Set goals
I make marketing plans around a single-metric focus, such as sales or users acquired. Then from there, any marketing initiative we do, I can look and say, “Will this help us increase sales?” And if the answer is no, then we won’t do it.
Set goals for Facebook weekly reach, website traffic, Twitter engagements per month, etc. Setting goals around your marketing efforts can help you manage expectations while simultaneously giving you something to strive for with every tweet, Facebook update or blog post.
7. Define how you will measure success
For all of your channels, define what would make a successful first quarter and then re-evaluate after three months.