How Much Should You Pay for Real Estate Marketing?
Creating leads? Closing deals? Finding new clients? Those all may seem like a daunting task but with a marketing budget, it all becomes much easier! Direct mail, online advertising, and networking give agents the chance to find clients over wide spread platform !
Having a strategic and effective marketing strategy can can place you in contact, instantly! (If implemented correctly) Learn how setting a budget for yourself for all the different avenues can you bring your business to the top!
What makes a marketing budget for agents? What is a normal budget? How many leads do I want to obtain? These are all questions that you should be asking when you are setting everything up!
Let’s start with direct mail marketing!
Direct mail marketing can create a response rate of 2-5%, making it one of the most effective strategies for reaching new clients! You can use this technique to advertise a house you just sold in the area, market data, an event, or even just grab a cup of coffee!
You expense will range depending on what time of postcard you are using, how many, how far in advance, and if you are doing every door or direct. What you can forecast is the postage which will range from .40 to .60 per mailer.
Using avenues such as Facebook Ads and Facebook pixel can increase you chances of generating leads. You can start these at $1 per day! With Facebook Ads, you can re-target market your prospects easily! This means that your brand will become top of mind on their computer screens! You really can decide which budget will be most effective for you when it comes to online advertising.
Are you active on your social media everyday? Are you posting local content, market stats, your listings..etc? If you answered no to this, why not? Is it to demanding or to confusing?
Social media is a low cost option for you to stay in touch with your clients!
Sometimes hiring a social media manager to help you plan and execute your posting schedule, will be beneficial in the long run! It can free up your time to do some in person networking, which brings us to the next point!
Networking can be done anywhere, anytime! Meeting potential clients in person can make for a stronger first impression. You need to evaluate your time, should you spend more time managing social media, online advertising and mailers? Or should you spend your time in person networking and making stronger first impressions while all the backend marketing is working!
Hiring a marketing team, whose pricing is the same month to month will make it easier when it comes to do your monthly expenses! Not to mention all the free time you now have!
If you’re interested in learning more about how a marketing team can help you, give us a call!