This article was obtained from the Developer Resource center at www.maximumdesign.com Public Relations Director: 910-256-2320, M-F 9-5 Eastern.

Feb 01, 2008
6 Ways Real Estate Executives Influence the Return on their Marketing Investment

Never before has your company’s marketing investment been so essential, and so scrutinized. The recent market slowdown has put a spotlight on how real estate companies are adjusting their approach to marketing, and on how they can secure the greatest return for their dollar. Companies are looking to their marketing partners to reevaluate their target audience and their promotional approach.

But, do you know that real estate executives also hold the power to influence the success, or failure, of their marketing campaigns in very distinct ways? 

In examining the elements of successful marketing plans, we see a pattern of actions taken by clients that have clearly helped to shape their marketing focus, boosting the likelihood of significant results while reducing the risk of promotional collapse. We’d like to share a few of these highly effective developer tactics with you.

1. Clearly define what sets your offering apart.
The best marketing campaigns won’t be effective if you haven’t clearly defined why someone should purchase and how your offering is unique and better. Your marketing partner can help to define this, but you’re the one who has identified the opportunity, made the investment, and knows exactly what you’re trying to create. You will prevail in the long run if everyone is able to clearly communicate your offering’s distinct value and unique appeal.

2. Commit to sales and marketing goals.
Goals are essential to setting a clear course of direction. We all design our marketing strategies and tactics to achieve specific objectives. When goals are absent or continually change, the marketing strategy gets watered down and becomes less effective. Keeping sight of key objectives and clearly communicating them is a challenge that requires prioritization and discipline from your organization.

3. Diversify your marketing approach.
Remember the saying “don’t put all your eggs in one basket?” That old phrase still applies to your marketing strategy today. Use of a variety of marketing channels helps to assure that you’ll reach more people more often. Market research supports the fact that potential buyers need to see an opportunity multiple times and in multiple mediums to pique their interest, educate them on a product or service, and motivate them to take action. 

4. Connect your sales and marketing functions.
If your sales team is working in one direction and your marketing partner in another, your marketing/sales plan is doomed from the start. In your leadership role, you have the responsibility to ensure that your sales and marketing functions are both playing in the same sandbox and are effectively communicating throughout the course of the plan. 

5. Track and share anything and everything that could give you an advantage. 
Knowledge is power. Now, more than ever, there’s a need to more closely track the sources of leads, sales trends, and the latest research on your target markets. It’s how smart marketing decisions are made and the only way you’ll really understand what’s working and what’s not. 

6. Stay the course. Give your marketing plan a chance to work.
Running an ad a few times or sending out a direct mail piece and giving up when you don’t get immediate results is worse than doing nothing at all. You hired your marketing partner for a reason—they had a specific expertise and knowledge beyond your company’s capabilities. Be patient as the marketing strategy evolves, and allow your marketing partners to evaluate and modify the strategy, as needed, to refine your results.

Focusing on these six key tactics will increase your chances for achieving your marketing goals. Ignore them, and you may be at risk of sabotaging your own marketing success.