The No-Nonsense Guide to Making a Real Estate Marketing Plan in One Hour or Less

The No-Nonsense Guide to Making a Real Estate Marketing Plan in One Hour or Less

Are you a real estate professional overwhelmed with all the marketing noise about—marketing? With all the information available, it's easy to think that making a Real Estate Marketing Plan is complicated. We have good news. A Marketing Plan for Realtors doesn't have to be difficult or full of fancy tricks and complex tactics. It all boils down to three things: who, what, and where. Let go of the pressure about fancy Facebook Ads and social media for a minute and focus on some fundamentals with us in this no-nonsense guide.

“Nobody plans to fail. They just fail to plan.”

This blog post focuses on a simple plan centered on who, what, and where, specifically for your target audience.

Who: Understanding Your Target Market

You must understand your target market as a real estate professional. Understanding who your ideal client is and how to communicate with them empowers you to tailor your marketing messages specifically to them. Your marketing plan aims to present messages that will engage your audience, drive conversions and grow your network.

Understanding various characteristics of your target audience is a vital aspect of a marketing plan. For example, if you target suburban areas, your audience may be primarily families with children. In contrast, if you are in an urban area, your audience may be professionals searching for a city home in a walkable neighborhood.

Another element involved in discovering your target audience includes identifying pain points. What challenges do they face, or what concerns do they have when searching for homes or property to buy? First-time home buyers will face different challenges than investors, and millennials will have different concerns than baby boomers. Finding out what challenges your clients or potential clients face can help you understand who they are and develop helpful, engaging messages to answer their questions.

You can develop a buyer persona once you think about some of these factors. A buyer persona is a list of details about your ideal client. Specific details including age, income, education level, interests, and pain points surrounding their real estate needs are examples of information to include in your buyer persona.

What: Crafting Your Message

After you understand who you are marketing to, you can craft marketing that will engage and inspire clients to contact you! Understanding your ideal client's pain points gives you an advantage when it comes to marketing. Marketing messages clearly speaking to your target audience and offering effective solutions to their problems help you build rapport and trust with potential clients.

Another way to draw your audience in is to speak their language, or in other words, write as people talk. As a real estate professional, it is easy to use industry jargon and end up with marketing that won't connect with your audience. Marketing messages are not just about showing off what you know but more about conveying your ability to help someone in need of your services. Creating relatable messages is critical for establishing a connection.

Where: Selecting Your Marketing Channel

In this guide, you have learned how to develop your ideal customer persona and craft marketing messages just for your audience. Now it's time to figure out where your audience will have the best opportunity to see your marketing messages. While some tried and true marketing channels exist for real estate businesses, such as magazines, newspapers, TV, radio, online ads, and email marketing, you have to focus on where your buyers spend their time.

You can use market research to find out where your ideal client demographic will be more likely to see your marketing. If your audience is made up of millennials advertising on Facebook, YouTube or Instagram may be good options. If your audience is made up of baby boomers, online news sources, Facebook or YouTube, may work best. A little quick research can point you in the right direction.

When selecting your marketing channels, remember that email marketing remains the strongest form of marketing in terms of return on investment (ROI) and conversions. It provides better returns than social media marketing. In the real estate industry, emails have a 25% average open rate resulting in a 760% increase in revenue.

Marketing Budget

Your marketing budget will vary based on your income and marketing goals. The good news is many free marketing opportunities are available today. Though even free marketing can cost you something, getting your message out there takes valuable time and effort, and some free platforms will offer paid ad options.

When determining your marketing budget, you should consider your recent sales history, local real estate conditions, industry trends, and return on investment (ROI).

Strategies and Tactics

Niche marketing: Niche marketing involves specializing in a specific area or solving problems for a particular demographic. For example, specializing in investment properties for vacation rentals or focusing on first-time home buyers.

Professional Photography: Photos are crucial in real estate marketing. Most home buyers begin looking for property online today, making images the first impression for all your property listings.

Grow your email list: Email is by far the most effective way to share your marketing messages. The challenge is collecting those email addresses! Opt-ins work like pop-ups on your website and are excellent ways to capture email addresses. Many social media sites also provide ways to ask for email addresses. It is more enticing for someone to offer their email address in exchange for something (see the next tip about Freebies!).

Freebies: Offering something for free will help you grow your email list. Freebies are typically a printable tools or newsletters. They are a great way to foster engagement and build rapport with your audience. Consider offering a valuable resource to potential clients or fellow agents. Examples include a moving checklist, home staging guide, first-home buyers guide, or creating community guides.

Website: Real estate agents and clients spend tons of time online. Buyers head to online listings before reaching out to agents, which means your website is the best opportunity to create a first impression and engage with clients. Your website should offer value, be easy to navigate, and have your contact information clearly visible.

Social media: Social media is free and a channel that can potentially be a great asset to you as a real estate professional. Facebook and Instagram are the best social media channels for real estate businesses. Social media is a great way to build relationships and connect with your community near and far.

Measuring Results: After you put your marketing plan into action, it is helpful to measure your results. Measuring the effectiveness of your marketing efforts will help you understand what is working and what isn't so you can make changes where necessary.

Benefits of Having a Real Estate Niche

“You can’t specialize in everything.”

We’ve all heard the saying, “Jack of all trades, master of none.” When you are developing your marketing plan, casting a wide net and leaning towards a mass marketing approach is tempting. However, working within a real estate niche is a way to give yourself a competitive edge. Niche marketing is designed to attract a select segment of a population; establishing a real estate niche sharpens your focus even further.

In this guide, you learned about defining your ideal customer persona. That is the first step in niching down your marketing efforts. Working within a real estate niche takes it to another level, dedicating your efforts to a narrower segment of the real estate industry. For example, if your ideal customer persona includes millennials, your real estate niche may be first-time home buyers in suburban areas. If your ideal buyer includes investors, your niche may be rehabs or those looking to flip houses for profit.

Another niche example is more customer-focused. As a real estate professional, choosing a a niche that serves otherwise overlooked individuals like teachers or law enforcement workers looking for homes can be a win-win.

Benefits of Working Within a Real Estate Niche:

  • Establishing yourself as an industry expert – Who would you rather have taking care of your taxes? The guy who does taxes for anyone who asks. Or the tax expert who focuses solely on Real Estate Agents?
  • Reducing marketing costs with focused marketing – Since you don’t have to show up everywhere, you can focus your budget getting more bang for your buck.
  • Building a strong referral network – Odds are that the people you help have friends in their industry, age group, etc. And when you do an amazing job with them, they’ll be happy to refer you to anyone who asks.
  • Brand recognition – No-one has to ask what kind of clothing Nike sells, and when they see that swoosh on a piece of clothing they know it will be good. You’re trying to do the same thing, just on a somewhat smaller scale.
  • Build trust – This is one that gets overlooked too often. When you build trust with your clients they’re more likely to look at you as an expert advisor than a sales person. Making your job 100x easier.

Putting it All Together

We’ve gone over a lot in this guide so now it is time to put it all together and see how it goes. For this example, we will be using our own Preferred Partner Program, but the concept will work for any marketing plan.

Who:

At Next Door Programs® our who is public servants such as Teachers, Nurses, Police Officers, and more. By focusing on them we get to learn what struggles they have with buying a home and how we can best fix it.

What:

Since we know who we are focused on we are able to work our hardest to get them an offer that almost no one else can provide. We help them find grants, down-payment assistance, and match them with knowledgeable professionals that walk them through step by step. And we are able to do this all at no cost to them… that’s an offer you can’t refuse.

Where:

Now that we know “who” and we have our “what” all we have to do is focus on where they are. Well teachers tend to work at schools, are part of the PTA, and other organizations that focus on them. By knowing this we can hyper-focus our marketing to show where it is most effective. The same goes for our Realtors® who get involved with schools, hospitals and more so that when someone is ready to buy a house they know who to call. 

Now It’s Your Turn:

Now that you know how to make a marketing plan without all the fluff and nonsense it’s your turn! But, if you’d still like some help or maybe just a community of like minded Realtors®, who are already selling more homes with the strategies above, I’d invite you to check out the Preferred Partner Program at Next Door Programs®.

We’ve not only put together an amazing team and offer that has your back throughout the entire process, but we’ve created a complete marketing guide that goes over not only planning in more detail but also closing, prospecting, and so much more! If you’re interested go here to learn more today!