Marketing Your Real Estate Investing Business and Services
What are the most important factors in successfully marketing your real estate investing business and services?
Marketing may be responsible for as much as 80% of the success of your real estate investing business. It doesn’t matter how great the property renovations, wholesale deals and services you have are if nobody knows about them.
Before planning any marketing campaigns for your real estate business, services or making any other related decisions real estate investors, and CEOs need to take the time to define their marketing goals. This really goes back to why you are investing in real estate in the first place. Then to how many deals you want to do, and what your real estate brand will stand for.
Budgeting is critical. One of the biggest mistakes and pitfalls real estate investors make is failing to budget. There are all types of real estate marketing solutions to fit every type of budget. Even if you barely have one. What is really important here is creating a budget you can stick with for 3 to 6 months before scaling up or down. Some marketing just takes that long to really fully kick in. And you should never gamble everything you’ve got on one campaign.
The above two factors then get rolled into a more complete real estate marketing plan. This should create a framework for what types of marketing you’ll be doing, and when you need to be preparing and launching those campaigns.
Having a diversified marketing campaigns is vital. Try to find 3 to 5 types of marketing to deploy and maintain. Don’t get too wild and spread yourself too thin. Get good at a few things. Automate them, and add more.
Some of the types of marketing for your real estate investment businesses you may consider to include:
• Direct mail
• In person networking
• Websites
• Blogging
• Email marketing
• Social media marketing
• Press release marketing
• Paid search engine marketing
• Newspaper and magazine advertising
The key to making any of the above work for your real estate investing business is knowing your customer. This cannot be repeated enough. The better you know your customer, and the better tailored your efforts are – the more effective and profitable your marketing campaigns will be. This is actually one of the biggest advantages that new real estate investors and business owners have. They are still able to see things from an outsider’s’ point of view. Later on it is too easy to get caught up in industry jargon and lose connection with how consumers really view real estate and industry professionals.
Once you get going make sure you watch your return on investment (ROI). Investors and business owners need to know exactly what return they are getting from their campaigns over time. Then you’ll know which to keep investing more in, which to maybe just maintain to fill in lead and deal flow, and of course when to shut down another. Always monitor your marketing campaigns performance. Keep improving. Repeat and expand.
I”ll See you at the closing table,
Marcel Umphery the “R.E.I. Successmaker”