Selling new homes can be an expensive process, especially if you're new to marketing. Here are some ways to keep your marketing budget in good condition.
Often when business owners want to cut down their expenses the first casualty is usually marketing. However, marketing is an unavoidable cost if your business is selling new homes. This is because no one will know about the property unless you tell them about it through promotions.
So how can you keep your marketing budget down while still getting the word out about the new properties on your portfolio? Read on for seven great ideas for saving money on marketing new homes.
1. Identify What Works And Keep Using It
To get the best returns on your marketing investment you have to put your money into promotion channels that work. There are a few steps you can take to establish the best marketing campaigns for your company.
First of all, identify how you will measure the results of a campaign. Whether it is to track where your leads are coming from or monitoring the increase in sales after a campaign rolls out.
Roll out one campaign at a time and track the performance of each. Drop the campaigns that bring no returns and keep the campaigns that work.
Create templates from your popular campaigns and recycle these whenever you have to market new homes, only changing the house details. Some business owners think that they must keep creating new advertisements to attract clients. Experienced marketers, however, advise sticking to what works until it stops working.
2. Create Your Marketing Campaigns In-House
Another great way of saving money on marketing new homes is to do it yourself rather than paying a marketing agency to do it. The key to creating your advertisements is to know who your market is and how your home can meet their needs.
Keep your campaign simple and straight to the point. You can take your own high-quality real estate photos and write clever ads. Also, keep in mind that consumers don't like being sold to.
When creating your campaign remember that you can get free advice from friends and family members that are experienced marketers. There is also a lot of free information online on the best ways to market new homes.
3. Use Digital Advertising
Advertising your new homes digitally saves you money. For example, traditional advertising required colored brochures of the new properties to be printed. This cost a lot of money and most prospects threw away their brochures anyway.
Real Estate Companies also benefit from advertising on billboards, bus stops e.t.c. Advertising online could be just as effective while costing less. Take advantage of the fact that most consumers go online whenever they want to purchase anything.
4. Advertise On Free Platforms
Free platforms can be used effectively to market your new homes. Make sure you have accounts on Facebook, Twitter, Instagram, LinkedIn and any other social media platform that is popular with your target market. Engage frequently with the online community and whenever you have a new listing make sure to post it on all your accounts.
Create an email list and get as many people as you can to sign up for it. Whenever you have new homes to sell you should send this out in an interesting email to your list. The returns for investing in email marketing are impressive and you should start reaping.
You can also use these platforms to show off your properties in their best light. Consider making posts of photos and videos that walk people through virtual staging experiences. This is a great way of saving money on marketing while giving people a realistic inside look of what you have to offer.
5. Use Influencers to Market
One modern challenge that marketers face is that consumers increasingly hate advertising and being sold to. Most internet users have ad blockers on their browsers, and they click out of any video advertisements as soon as they can. Creative ways of marketing must be used to capture their attention.
One of the most effective is using influencers to market your new homes. For example, a popular local blogger can mention that they went to look at houses and were impressed by what your company has to offer. Their followers would then be interested in your company and may visit your website to see what is available.
6. Use Relevant Keywords for Digital Marketing
You must use the right keywords when creating online listings for your new home. Any online advertising done with the wrong keywords may turn out to be a waste of your time and money. On the other hand, getting your keywords right could place you at the top of the search results for clients that want to buy your home.
If you struggle with keyword research, it would be money well spent to pay a digital marketing agency to research for you. If the budget is too tight however there are free online courses that can guide you on how to find the right keywords for your business.
7. Set a Budget and Stick to It
The final tip for saving money on marketing new homes is to set a budget for your campaign and stick to it. Without a budget, it is easy to get carried away by all the marketing options available. Marketing agencies are also very good at upselling their services and getting you to pay for facilities you may not need. If you have a budget that you must stick to you will find it easier to say no.
Any agencies you work with should also be given the budget. This will make them know what campaigns and services they could offer you without tempting you to pay for what you can’t afford.
Start Saving Money on Marketing in Your Real Estate Business
When selling a new home, you must create a marketing campaign for it. However, you don’t have to spend a lot of money on promotions.
Use the seven tips mentioned above to help you start saving money on marketing. That money could potentially be used for other projects.
If you're an agent interested in 3D rendering to add to your marketing, feel free to contact us today.