MARKETING
ADVERTISING INSIGHT
Never AdvertiseAgain
4 KEY QUESTIONS TO MAXIMIZE YOUR RETURNS ON REAL ESTATE MARKETING.
by Rodney Halford
I
’ve said it before, and I’ll say it again: There is no “secret sauce” in advertising. There are just hundreds of little ways to refine your strategies, presentation, and process over time to maximize your odds of a good return on your marketing investment. Ask yourself some questions and then answer honestly. Do it right, and you might never advertise in the conven- tional sense ever again. Real estate professionals, both those who invest and those who offer services to investors, are the best-positioned in- dustry experts out there when it comes to maximizing ROI. However, because we often fail to ask ourselves the same questions we would insist on asking others, our marketing efforts fall short. Ask yourself the following four ques- tions and answer them honestly. Then, apply your answers to your marketing strategy to maximum effect. QUESTION #1 ARE YOU IN THIS FOR THE LONG HAUL? If you are committed to an adver- tising venue, then you should always consider booking your ads long-term. Doing so will almost always save time, gain exposure, and create brand aware- ness. Furthermore, many advertisers do not realize (top secret stuff, here!) that many companies will offer incentives or extra benefits to clients who commit to longer-term bookings. The best rates are nearly always annual, followed by
quarterly, monthly, and daily. Not sure if an advertising venue is right for you, but hoping to snag some of that marketing swag? Be direct. Tell your company liaison exactly what you would like them to try to include in your package. It may be that they can offer a timely alternative that will let you test the waters. It’s possible they could even set you up with a lon- ger-term option with some additional clauses to protect your interests and theirs in order to meet both parties’ needs, such as allowing for termination if your results do not meet certain pre- determined specifications. Always ask for an opt-out clause such as a two-week or 30-day notice to terminate without penalty which protects your company. QUESTION #2 WHAT AM I TRYING TO SAY? Mixed messages are one of the worst advertising mistakes you can make. Just because you have a lot to say does not mean you should say it all! This is a par- ticular issue for real estate investing com- panies, which frequently manage multiple facets of real estate investing and need to try to communicate all of their offerings in a limited amount of space. No matter how tempting it may be to “say it all,” you must narrow your message down to one key point. That message can be something as simple as
What’s the secret behind companies that boast they never pay for advertising? Effective marketing strategy, plain and simple.
16 | think realty magazine :: year end 2017
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