Marketing your real estate business online used to be looked at as “optional” but with the impact of COVID still remaining it has pushed more marketing efforts online. Real estate professionals now realize they can’t depend on open houses to be a main driver of their business and relying on networking efforts comes with it’s own challenges as well.
As more and more real estate professionals realize the shift is continuing to move in the direction of going online to generate business, one of the biggest challenges for many is where to start? Answering the question of where one person should start can be a challenge as it is important to match up your marketing to your personality. Taking time to answer key questions will help you to have success from day one.
Creating an online real estate marketing strategy doesn’t mean starting off with a particular solution (aka blog, website, etc.) and then making it work. In order to have a strategy that you can execute and achieve success with, it is important to consider the following:
What are my strengths?
Any type of marketing takes effort and understanding your strengths will allow you to focus your best efforts will have the greatest impact. For online marketing consider evaluating your strengths as a writer, attention to detail, testing, enjoying networking and even your skills with numbers.
When you understand your strengths then you will be able to focus on a solution. For example if you are a strong writer you might consider blogging as it requires a substantial commitment to writing. As you evaluate each of your strengths you can then come up with an aspect of online marketing that can compliment that strength.
How much do I want to invest?
Although the cost of marketing online is much more affordable than traditional marketing it still does require that you invest funds in order to see results. Take time to consider what your investment will be in everything from software to training and coaching to get the most from your new marketing efforts.
As it is an investment, you must expect a return! The internet allows you to have extraordinary returns compared to other forms of marketing (7,10, even 20 times return) so consider these returns as you look to set your income goal.
What is my target income?
No strategy could be considered complete without an understanding of how much income should be generated from the activities. Setting an income goal is important as it allows you to reach for a specific target and it also helps you to decide on which form of marketing you will implement.
For example some of the largest online companies are based on pay per click advertising through search engines (Google, Bing, Facebook, Instagram, Reddit, etc.) and if your goal is a big income, pay per click would give you one of the fastest paths to a large income online.
What am I willing to try with online marketing?
Someone might tell you “this type of marketing is the best” but if you aren’t someone interested or passionate about it you won’t stick with it. With online marketing there are so many aspects you can try and generate business, consider really looking at each option and then dive in. Consider a few of the following ideas (all could be a core to drive business)
- Online Videos – With options ranging from Facebook, TikTok, Instagram, and YouTube there are many ways to deploy videos. You could develop a series of talks on your area, types of properties, tips, etc. and then deploy different versions across each platform.
- Online Audio – Different from the video options you might be more passionate about recording audio. In today’s era that can mean anything from organized webinars educating people on a specific topic to having a podcast that you record weekly.
- Online Writing – If you are passionate about writing then you might want to consider an organic/SEO strategy. You could write reports, create detailed pages about your local market and much more.
These are just a fraction of the items you could try with your online real estate marketing efforts. The real question you should ask yourself is what are you going to stick with as any of them are going to take time and money to keep going before they yield results.
Your Answers Can Dictate Your Marketing Strategy
The more complete your answers to the questions, the better overall strategy you can put into place. Be careful not to get locked into a specific vendor or type of online marketing before understanding your strengths, investment and goals. With just this small amount of extra effort you will be able to have a complete online real estate marketing strategy that will allow you to hit your goals monthly.