marketing myopia

Is myopia killing your real estate agency?

Raise your hand if you have never heard a fellow real estate agent utter their own version of any of these statements: “I wrote a blog, but nothing happened”, “I created my business Facebook page and I only got five like (one was from my mom) ”,“ I ran a direct email marketing campaign, but no one called me ”… Yes, as expected: there are very few hands raised among employees or real estate agency owners.

The pressure to produce immediate results is tangible everywhere. Even if you are an online marketing guru, you can risk losing customers due to a drastic drop in visits to your website; there are real estate agents and consultants who fall into an identity crisis after a quarter of an hour of less than stellar results on their real estate social advertising campaigns. And we also expect our political leaders to solve age-old problems with a single unified network speech.

It just doesn’t work that way.

The short term is longer than you think

Effective plans, in any field, take time to implement and execute, and worse yet, they are labelled as poorly conceived before they are even given time to take root and flourish. Often, all that is needed is patience (and perhaps a couple of changes in progress, according to lean marketing theories) to observe the return on investment and start repaying the efforts, especially economic, put in place. To implement the plan.

Who is writing to you is actively collaborating with a digital marketing and growth hacking agency that operates in various fields such as international social media marketingmarketing automation and more, and which has been able to increase the turnover of its customers too. A lot and in a short time. But it is precisely this “short time” that does not correspond exactly with what professionals or companies in the sector think. Defining one’s expectations in this sense must be a priority and growth must be sustainable and lasting. The quality of the shares pays off, while the quantity brings into play dynamics that are difficult to manage for a company operating in the real estate sector.

Did you know that? Binary results have heterogeneous inputs

The results tend to be binary (hit or miss, win or lose, live or die), although the causes that generate them are much more subtle and heterogeneous. It is rarely a single input that causes success or failure, but rather the combination of many components that determines the outcome. If you fail to be successful in 5 of the 10 actions performed it does not mean that you are facing a failure: the plan is simply incomplete. Do not pull the plug too quickly, a series of results generate an impact only in the medium term.

If you think your latest marketing plan was unsuccessful, then ask yourself the following questions:

  • How long have I “tried”?
  • Did I track my efforts?
  • Did I make or did I make any changes to the process, which was based on data in my possession?
  • I just scrapped the whole project and am I trying something different?

We bet we already know the answers. In our experience, real estate marketing lives one of the most common syndromes in a sector – such as the commercial one – which has hardly been able to manage sustainable digital strategies in the short, medium and long term. Workshops and analyzes carried out directly in real estate agencies have shown us that most of the problems of digital marketing and lead generation activities are not so much those related to the cost of managing the contact generated (Cost Per Lead), but rather to effective management – and subsequent essential nourishment – of contact in the long term (profiling, lead scoring, marketing automation and newsletters).

Make sure the actions are measurable

Testing, monitoring, measurement and analysis. Real estate professionals tend to see marketing as a purely creative art form when the reality is that it consists of a mixture of creativity and data. Good marketers tend to be proficient in the visual arts – fonts, colours, logo making, typography, photography, and layout – but truly elite marketers are just as adept at data collection, benchmarking, and experimentation.

But believing that every problem is linked to an ineffective digital marketing plan or to an agency’s mistake in activating and managing PayPerClick campaigns, often means suffering from digital myopia. Believing that any problem can be solved quickly, perhaps with a real estate algorithm, is totally wrong. It is often necessary to go deep.

There was a concept in vogue in luxury real estate until a few years ago: “The rich hate the press”. I, on the other hand, liked to see some fabulous ads elegantly presented on the pages of a luxury real estate magazine. The problem is that it is hard to spend money on printing as it will be incredibly difficult for us to evaluate its effectiveness. When we fail to measure the impact of an expense, we don’t know if our money was well spent, poorly spent or somewhere in between – so we often give up. Knowing where to distribute your energy and capital becomes much more evident when you have data to help guide your actions.

Do we want to talk about personal branding and reputation?

What is the return on investment of an effective real estate personal branding business? Authenticity is key in the digital age. A strong personal brand can generate a huge return on investment, but that means working on a 12 or 18-month time scale.

Rome was not built in a day

This may come as a shock to some of the real estate agents who read us, but not all clients are thinking only of you or of buying a property, here and now, all day every day of every week. And guess what, you’re not the only one trying to reach this target audience.

Know that proceeding constantly with messages on social networks, direct email or other advertising to reach your target with everything that has a strong impact, makes it much more than a couple of massive and “spammy” advertising raids a week. Be patient and, above all, be respectfully persistent. If you are going to invest considerable time and effort in carrying out any type of marketing program, be sure to also invest time and effort in making it measurable.

“Digital” real estate agency

Bounce rate, time on site, unsubscribes, A / B testing, actions, and click-through rates (to name a few) are terms you should become familiar with when creating a digital marketing plan – real estate agents can’t afford it. To ignore the dynamics of sectors, such as those of web marketing and communication, which always go hand in hand with their business.

Monitor analytics and look for implementations that indicate if you’re doing a good job of reaching your audience. Research the key performance indicators (KPIs) that you can rely on to improve your strategy day by day, with maximum return on investment (ROI).

If you believe in what you are doing and have quality data to support it, then give your marketing plan time. Patience is a virtue, and when used to the right extent, a very powerful combination results. In this regard, here is for you a statement by Jeff Bezos, who when published caused quite a stir among marketers who promise roses and flowers at all costs, forgetting that the reality is quite different:

“I always tell people that if we got a good quarter it’s because we did a flawless job three, four or five years ago. Not because we have done a good job this quarter. “Jeff Bezos, Amazon.

Start selling yourself and your professionalism

The risk of disintermediation has currently become a problem for the real estate agent, especially if the latter’s myopia manifests itself in the inability to know how to adapt (and consequently know how to transform their real estate agency), depending on the evolution of their own professional.

Today’s real estate agent has an apparent ally, technology, which can, however, over time also prove to be a real enemy capable of “stealing his job”, in the event that he is unable to combine the increasingly advanced technologies with the human factor, continuous training, knowing how to relate and empathize with their customers and a myriad of different qualities. Therefore, the mediator certainly has the duty to become a better professional over time, but that is not enough: he must also know how to communicate it.

The digitization of the entire buying and selling process is reducing the transaction costs on the customer side, so the advice we would like to give you is to sell the product (the properties) a little less, simultaneously shifting attention more and more, such as said, about the human factor. Tell who you are, what and why you do it, explain the company mission and vision, who your collaborators are and what they do. You can do it in many ways, from blog posts to dedicated videos, podcasts, slideshows, you can tell it on your social channels in a thousand different ways.

On WeAgentz, for example, you have the possibility to activate an Agent Profile in which you can list a series of valuable information, your expertise, skills, and specializations, tell what your specific working methods are. Value yourself and give your clients or potential clients a way to get to know you and really understand what value you can bring to their buying and selling experience at your real estate agency.

This is just a taste of what you can be able to do and communicate by adopting a real estate personal branding strategy. Don’t waste any more time, broaden your horizons and don’t let myopia destroy your real estate agency.

 

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