Are you struggling to get listings at the moment?
Updated: Dec 24, 2022
The key to marketing is being seen!
If you don’t have as many listings as you would like in the pipeline for the rest of the year, can I strongly encourage you to read this in its entirety.
What should your marketing plan look like going into Spring, to achieve the best results?
Speaking with a lot of our members across the globe recently, it’s no surprise that the market is tough everywhere. While stock might be hard to get at the moment and the thought of cutting back on things like marketing might seem like a way to reduce expenses, it could be doing more harm than good in the long run.
Simply put, more money spent on marketing & branding means more eyes on you.More eyes on you mean less eyes on your competitors. Less eyes on your competitors gives you a higher profile. A higher profile gives you more chance of being called into a listing presentation.More listing presentations = more opportunities to list property.More listings mean more sales.
So, what can you do now to ensure you have reached/spoken to absolutely EVERYONE you can to strengthen your pipeline for the remainder of 2022.
Not everyone is wanting to put their property on the market NOW!
Some might be waiting to see how the Spring market kicks off, some might be waiting for their kids to finish the school year and some might have other circumstances.
The important thing to remember is what you should be emailing your sellers/landlords to get the conversation started or progressing them along.
As agents, we are full of information that people want to know about & we must appreciate that everyone has a different way of learning. With my attention span I’d prefer to watch a 30 market update rather than read a lengthy article, while others might prefer the written word.
Mixing up your emails with a combination of video, images and copy will give you a balance to ensure you cover all aspects.
The best tip I have when it comes to emailing your database is to schedule it for a Sunday afternoon. Most OFI emails I get are on a Friday afternoon when I’m either busy, or your email will get lost in the 50,000 open for inspection emails I receive on the day.
For me, we have had great success emailing our database on a Sunday afternoon with our bulletins going out around 3pm. This has worked for two reasons.
Firstly, people are more likely to have the time to sit back and read your alert and secondly, you aren’t getting lost in the noise of all the other emails of the week.
Finally, break your database up into categories. I cannot stress how important this is. The reason people either unsubscribe from your emails or don’t engage is because you are spamming EVERYONE in your database with the same thing. Ideally, you should be breaking your database up into 4 groups. Sellers, buyers, tenants and landlords and be putting out appropriate information to them. Whether that’s weekly, fortnightly or monthly.
Bespoke has recently gone into partnership with a SMS nurturing provider who automates SMS marketing when it comes to success alerts (i.e the hammer comes down on your auction, and you have this programmed ready to go, so the entire suburb has received a SMS from you before the sold sticker goes up).
SMS have a 94% open rate according to recent statistics whereas email has a standard open rate of around 18%. SMS is a great tool to quickly engage your marketplace.
Recent changes have meant it’s become even more expensive than a few months ago to get the same results on social media due to the algorithm changes, yet it still is the most affordable tool to keep your brand out there and front of mind.
Just this week I spoke with one of my members who had spent $170 in ad spend, and had a reach of over 25,000 people. You just cannot get that exposure anywhere else.
My advice would be to run four campaigns simultaneously at the moment with a budget of no less than $200 behind each.
Lead generation - aimed to attract sellers and Landlords to make contact with you.
Brand awareness - while others are pulling back on their marketing spend, ensure that your face & brand are being seen constantly.
Your successes - double what you are spending on your just listeds for your solds/leases. Homeowners want success. They want to see that you are selling & leasing property.
Property Management - target landlords whose properties might be sitting vacant or may need a price increase.
Combine these four strategies and you will have a healthy marketing campaign covering all corners of your marketplace. These are in addition to your day to day posting.
Be sure you have downloaded the app 1060 and get on there and get posting.
Yes, they are still highly effective. We currently have a deal with a provider where we can supply 10,000 colour front & back DLs on 150GSM paper for $500. Depending on the size of your core area, that could be enough to blanket your patch once a month for the remainder of the year.
DL’s are still effective, even if they get thrown in the bin. They are still being seen.
Coffee/Nails or Plants
FREE COFFEE TUESDAY - everyone loves a free coffee, so why not get down to your local cafe either every Tuesday morning, or once a month, put $300 over the counter and pay for everyone's coffee from 7:30am - 9:30am.
On the condition the barista points the customer to where you are sitting, letting them know it’s on you, or giving them a business card of yours.
I’d certainly remember someone more so who bought me a coffee over a DL in the letterbox.
Supporting the community doesn’t have to be big grand gestures. Maybe something simple like getting your nails for free with a haircut (or other services that are affordable). Or, a free plant/seedling with every purchase from a local florist.
Whatever it is, get creative. Think outside the box and leave the customer with something they can take away with. I’d certainly be saying to my partner at night if someone bought me a coffee that morning and that’s what we want.
Doing this kind of thing constantly is marketing. The key word is constantly. No one lead gen campaign is going to change your career, no one post or DL drop is going to be the answer to all your problems.
A clear, concise marketing strategy is the best way to keep you on track and in front of your marketplace.
You don’t need to be in the top publications. All you need is to be seen as the leader in your space, in what I call “social proof”.
This is where a third party is backing you and putting you out to their audience, further expanding your reach.
Whether that be your local magazine or paper, radio station or noticeboard, find out your local media platforms and ask them if you could contribute some value to their audience.
As always, the content we provide in our Study Hall comes from you. We always aim to provide the most value to our members, so please feel free to get in touch with any topics or questions you would like covered.
Founder & CEO
Bespoke Media Group