Now that you’ve got your goals set and your business plan in place, it’s time to get your marketing plan together. Today I want to share with you 5 steps I take when building my marketing plan each year. Hopefully, you’ll find these helpful when building your plan.
Create a Budget
As a general rule of thumb, you should expect to invest between 5%-10% of your gross commission on your marketing plan and the amount you invest really depends on your growth goals. If you’re looking to grow then ask yourself, “What am I willing to invest to achieve my growth goals?” As the old saying goes, you need to spend money to make money. Make sure you’re realistic and that your investment aligns with your goals.
Determine Your Target Audience
Understanding whom you’re speaking to is an important first step in determining your plan. Are you farming a new client, real estate niche or geography? Perhaps you’re looking to get into the luxury business or you’d like to increase your share of business within a specific zip code or sub-neighborhood. If so, start thinking about how you might build awareness in those markets. On the other hand, you may have realized there is tons of opportunity within your current sphere and you haven’t tapped into it. At RE/MAX Leading Edge, we know that 85% of our agent’s business comes from repeat and referral business. If you’re like most agents, your target audience is a combination of both. Once you determine the opportunity, then ask yourself how much of your investment will go to each target.
Evaluate the Tactics that Will Support Your Plan
There are numerous tactics that can support your efforts and there are thousands of companies, coaches, and vendors who claim they can provide you THE perfect marketing solution. In my experience these are the top 3 tactics that are proven to work and not blow the budget:
If content is King, Video is its chariot! If you haven’t started recording or doing LIVE video yet, I challenge you to start TODAY! According to Hubspot, “43% of people want to see more video content from marketers.” Video is the quickest and most effective way to build trust with your clients and give them an idea of what it’s like to work with you.
Digital marketing is the most cost-effective marketing out there. What I love about digital marketing is that it is so personal. From your website to your social media and beyond, the opportunities in online marketing are endless.
#GetSocialSmart – Inman was right on when they predicted Facebook ads to be among the hottest marketing trends in 2017. If you haven’t gotten on the social media bandwagon yet, I highly suggest you do. It is not necessary to be EVERYWHERE on social media. However, at a minimum, you should be on Facebook and should have a Facebook page. There is no better place to build and maintain relationships with clients than here. If you’re interested in learning more or going deeper, I suggest becoming a #GetSocialSmart Academy Member or subscribing to Katie’s Blog. No one makes social media more accessible than Katie Lance.
Digital Advertising. If you’re interested in building your brand in a new market or simply staying top of mind with your sphere, Adwerx has a great program that utilizes retargeting to drive awareness of you or your listings. It’s also extremely cost-effective.
Yes. Print. If done professionally, consistently (meaning monthly) and for an extended period of time (18-24 months), it will work. Print is a great tactic to maintain top of mind awareness with your current sphere. It’s also a phenomenal way to farm new clients. If you plan on utilizing print, don’t cheap out. Use high-quality graphic design and high-quality paper stock. Also, ensure you’re adding valuable content, the type that will make you stand out among the thousands of other agents in the market. At RE/MAX Leading Edge, our Marketing Coordinators are all trained in graphic design and can create your print pieces for you.
Create a Calendar
Creating a calendar will give you vision to what your plan is and ensure there are no gaps. There’s also something about putting the plan into a calendar. It creates accountability and an opportunity to make adjustments wherever needed.
Like anything, a plan is just a plan until you put it in motion. Make sure you have the resources, systems, and processes in place to ensure flawless execution.
Those are my tips for creating your marketing plan. 2018 is right around the corner and now is the time to get your plan in place to ensure you reach your goals!
I’d love to hear your marketing ideas. Leave me a comment below. If you like our Real Estate Marketing vlog, we’d LOVE it if you’d like, comment and share it, check us out at leadingedgeagents.com or like us on Facebook, Twitter, Instagram or LinkedIn. Thanks so much everyone, enjoy the rest of your day and we’ll see on the next episode of Real Estate Marketing.