Whenever I’m asked to comment on marketing in the real estate industry I always start with this quote. “The problem with communication is the illusion that it has taken place.”
Obviously any type of marketing should and always enhance your bottom line. Whether it is bus stop, billboard, flyer, an eDM, text message or social media. What is the return on these investments and how do we make a judgement of the impact on our business?
Many years ago I had the privilege of hearing Drew Ginn who was the leader of the famous Awesome Foursome, an Australian five-time world champion rower, a four time Olympian and triple Olympic gold medallist.
He made a statement that stayed with me for years. Every decision he made was through the lens of ‘will it make the boat go faster’.
With the privilege of looking at our NurtureCloud data, more than 1.3 million interactions last month, our ‘will it make the boat go faster’ is, ‘will it generate more appraisals?’.
Through all my years in the industry I have always believed in the concept of layering. Laying down tracks of marketing that will ultimately provide a business with momentum. We can now see whether it is digital marketing, billboards, letter box marketing, traditional media and social media, they all play a role in creating less friction and creating a familiarity with the consumer when we start to have conversations with the homeowner.
My strong view on marketing is that one type of marketing alone will not create the environment of familiarity that will significantly enhance a business. If I was to ask you, what is the only way I can guarantee that communication is taking place? You could say if the consumer responds directly or having a physical conversation. Most of, if not all of our directions to appraise a property will come from a verbal conversation.
Strangely many agents don’t believe that the phone is a form of marketing, the world I live in and the data that I see, it is the ultimate marketing tool. Everything else is an enhancement to that.
In sitting down to plan your marketing for the year, ask yourself these questions. Will it generate more appraisals or will it enhance my opportunity to get more appraisals? A one dimensional marketing opportunity rarely provides the platform for this to occur.
Finally sit back and ask yourself, is all my marketing really an illusion?
