Going by the fact that the real estate business is highly competitive, you need to do all you can to increase sales. After all, the bottom line of all real estate business is to convert leads into sales. This means that you have to employ the right marketing strategies at all times. Because marketing helps consumers be aware of a brand, you can successfully use it to help them make the right buying decision. Below are some of the tried and tested strategies, though they are not exhaustive.
1. Word-of-mouth referrals
You may have overlooked this strategy in the past, but it’s among the most effective in creating interest in your company from clients’ other than the usual ones. Remember, word of mouth recommendations are usually done by our own family and even friends. These are loyal and trustworthy individuals who want you to succeed. And depending on the number of staff in your company, you can get a sizable number of leads.
Recommendations actually go a long way in spreading your brand name and building reputation. You also reach new clients without actively seeking them from door to door.
2. Responding immediately to customers’ queries
Even though you may at times feel annoyed by customers’ queries, you shouldn’t ignore them, hoping that the noise will die down. In a competitive business environment, customers can easily switch to your competitors if they feel ignored. And with the use of technology now rampant, your competitors will notice your weakness and use it to their advantage.
As a rule of them, reply to queries raised by your clients as soon as possible. This is even more urgent on social media where negative news spreads like wildfire. And because you might be overwhelmed, having a dedicated social media team can really help.
3. Use testimonials to your advantage
Since negative customer reviews can push customers away from your business, a positive comment either written or verbalized can help you earn new clients. With the increasing usage of online platforms by potential prospects, you can place testimonials on the land page of your website. What’s more, you can place testimonials on any other marketing materials that you produce.
Testimonials highlight your present and past positive customers’ experiences. In a way, they support your company’s credibility, and are a kind of social proof that customers’ trust your business.
4. Run paid social media promotions
Nowadays, with real estate companies competing in the challenging online market, paid social media promotions has proven to be successful. A good example is Facebook and Instagram ads. If you own a Facebook page, the platform allows you to promote a particular image or post for a certain amount of money. This promotion can run for days, weeks, or even months. Facebook usually shows you how the promotion performed in terms of engagements and post reach.
Instagram ads on the other hand allow adverts to run like a normal post, but they are differentiated by a ‘sponsored’ tag. What’s more, they have CTA buttons at the button in addition to product catalogs. Both Instagram and Facebook ads puts your brand constantly on the users’ faces, thereby increasing the chances of your company to getting the right leads.
5. Hire a real estate photographer
Even though the temptation of taking your own photographs might be high, hiring a professional photographer is very rewarding. They have probably taken real estate photos for years before your business came into being. With such vast experience, or even additional training, a photographer knows how to enhance images so as to attract potential prospects.
There is also the fact that they have the right equipment including high resolution cameras and software. Therefore, they spare you the pain of doing photography yourself and wasting your precious time.
6. Create a website and blog
A website and a blog are still part of your company’s marketing strategies. After all, most consumers are online searching for homes and land. They can easily stumble upon your website or even blog and turn into leads. Whereas the information on a company’s website is static, a blog engages readers who might become potential leads through a series of articles.
Article ideas for a real estate business are all around you. Picking readers’ queries when they engage with your content is a great way to build writing materials. By creating such articles, you build authority, customers’ trust, and at the same time increase your company’s visibility on search engines.
7. Publish a real estate magazine
Despite the fact that most consumers have moved online, real estate magazines still have their space in the industry. The full color image in glossy paper creates positive emotions on the buyers. What’s more, since building an online reputation takes time, magazines come in handy. This is because consumers trust magazine ads more easily than they do with online ads.
Another great advantage of magazine ads is the fact that they last for ages. You will still find the real estate magazines in homes and even different offices years after publications. And because the company’s name and contacts are in the magazine, you can receive leads.
8. Fund the marketing department
The fact that the marketing department is getting your brand name out there means that it’s a very important part of your real estate business. And whereas small real estate startups might hesitate, the fact is that it’s easier to measure return on investment. For example, the ad campaigns created by the marketing might start receiving reactions and engagement on social media. This will clearly show that the strategy has worked.
9. Run radio ads
With over eighty percent of Kenyans owning radios according to a 2019 survey, you can leverage this traditional advertising medium. This is because it’s inexpensive, reaches a large and diverse audience, and enhances your branding strategies.
Granted, you have to first identify your target audience. Certain stations are usually listened to but different age groups. For your strategy to work, your target audience should have disposable income and be appreciative of the real estate industry.
Marketing strategies for a real estate business are indeed so straightforward. If you employ them one at a time, your sales and profits will improve.