How can top agents boost their ROI when it comes to marketing?

image

For real estate professionals, a solid return on investment for marketing is about more than just getting the most out of every dollar spent.

For real estate professionals, a solid return on investment from marketing is about more than just getting the most out of every dollar spent. It should also include a good return on the time being spent to prepare all the marketing materials. Fortunately, analytics may be able to help agents determine just how strong their ROI actually is.

The good news for agents is that there are plenty of options for not only getting their marketing materials in front of the people most likely to be enticed by them, but also examining just how effective those efforts have been, according to Inman. Facebook and other social media sites give advertisers like agents a bevy of tools they can use to determine just how effective every dollar they spend truly is, and this is especially true thanks to the ability to target ads to users in specific demographics or geographical areas.

Consider other types of returns
While ROI is often calculated in terms of dollars and cents, in today’s market it can come in other ways as well. For instance, when effective marketing turns into real estate sales, it’s easy to quantify; “I spent this much, and here’s how much I netted from that sale.” However, if that client then turns around and writes a glowing review online, it too can have a massive positive impact on future business, because consumers increasingly rely on customer reviews to make decisions about everything including which agent to work with.

Of course, it’s difficult to quantify just how much marketing activity is directly responsible for a positive review that, in turn, also leads to more business. However, gaining a direct lead from marketing activity can be a good indicator that their marketing efforts are paying off.

Can predictive data help?
Agents may also be able to benefit from using “big data” to cultivate predictive information that can inform more effective marketing, Inman noted, but acquiring big data often requires an additional investment. So the question for many agents becomes, “Is it worth it?” Many of these tools can use publicly available data to determine things like which area residents may be poised to buy or sell within a certain timeframe – which can certainly help to inform more direct marketing decisions that are more likely to pay off.

ROI should be continually evaluated to make sure that marketing efforts are effective and result in opportunities to connect with more clients.

August Marketing & Tech Stat

August’s Marketing & Tech Stat shows how being a large real estate company, with a high listing inventory, is a huge advantage for buyers. This would be good information to share with potential buyers who are starting their home search.

August 2017 Market & Tech-01Click the links below to access the corresponding items:

PDF Version: If you have issues viewing the flyer, save it to your computer first.  This can be printed and then mailed with your business card.

JPG Version – You could use this graphic by saving it to your phone and uploading directly to Instagram and other social media sites.

Click here to easily share this as a blog article on your social media sites (Facebook, Twitter, etc.). You’ll be redirected to AskHomesale.com where you can simply scroll to the bottom of the article and select the social network you want to share it to.

You can also access the ecard template on the Market REsource by selecting ecards and searching for “Market and Tech Stat – August 2017.”

August Item of Value

This months’ item of value is helpful for any clients that may be either downsizing or have a first time apartment style home. Share, email or mail this to your sphere and remind them that you are here for any move they need to make.

Click the links below to access the corresponding items:August IOV

PDF Version: If you have issues viewing the flyer, save it to your computer first.  This can be printed and then mailed with your business card.

JPG Version – You could use this graphic by saving it to your phone and uploading directly to Instagram and other social media sites.

Click here to easily share this as a blog article on your social media sites (Facebook, Twitter, etc.). You’ll be redirected to AskHomesale.com where you can simply scroll to the bottom of the article and select the social network you want to share it to.

To access an Ecard template for the Item of Value, go to Market Resource Center and search Social Item of Value August 2017.

How should agents approach new tech purchases?

HouseConnections_547307044 v2

In today’s market, smartphones are the lifelines for real estate professionals while conducting and managing their
day-to-day business. With our vast growth and rapid change in technology, mobile phones quickly become outdated. So how do agents know when and how to effectively swap out their current models for the next gen? And moreover, what emerging tech should they consider adding to their arsenal to continue to advance in the industry?

Agents who have had their iPhones or Androids for a few years at this point may be amazed by the technological advancements for smartphones that have come over the last few years. There are now so many more features, both in terms of apps and built-in hardware that it makes a smartphone purchase decision a little more complicated, but often necessary, according to Popular Science. Generally speaking, those who have had Android devices or iPhones may want to stick with what they’re used to, but those looking to make the switch have a lot to consider.

Comparing the options
It is not always easy for agents to go from one type of device to the other, but some agents can benefit from a change if need be. For instance, those who really give their phones a workout might need a stronger battery and a greater processor speed, while others might prefer higher-resolution screens or better cameras. Moreover, price is likely to be a factor as well, and what an agent has to pay for a new smartphone can vary widely based on a number of factors, including the kinds of upgrade incentives their service providers offer.

It might also be a good idea for agents to consider when they buy their smartphones. All new iPhones and some Android models are often released in the early autumn; therefore agents would benefit by waiting to upgrade their device during that time year.

Of course, when considering any such switch, it’s important to do as much research as possible to determine exactly which next-gen smartphone will meet an agent’s needs most effectively.

It’s not just hardware
Of course, agents rely on technology for a lot more than just what their smartphones provide, and as such it’s important to regularly
examine emerging software options that can help them get ahead as well, according to Fit Small Business. There are plenty of options out there that can help agents on multiple fronts: everything from lead generation and client relationship management to handling electronic signatures during the real estate sales process and building and maintaining a website.

It is also important to consider the budget they may have for such an option, whether it’s a monthly subscription payment for a specific type of software service, or the up-front cost of a more sizable one-time purchase. In either event, it’s also vital to weigh what kind of return on investment the software option is likely to provide. If it’s something that could pay for itself within a few months or a year, it’s probably a smart move for agents to adopt it.

July Market & Tech Stat

July’s Market & Tech stat shows percentages of home sellers by age and how that relates to the price of the homes they have sold. This would be good information to share with potential sellers who are interested in finding out what their home might be worth.

Click the links below to access the corresponding items:

July 2017 Market & Tech

PDF Version: If you have issues viewing the flyer, save it to your computer first.  This can be printed and then mailed with your business card.

JPG Version – You could use this graphic by saving it to your phone and uploading directly to Instagram and other social media sites.

Click here to easily share this as a blog article on your social media sites (Facebook, Twitter, etc.). You’ll be redirected to AskHomesale.com where you can simply scroll to the bottom of the article and select the social network you want to share it to.

You can also access the ecard template on the Market REsource by selecting ecards and searching for “Market and Tech Stat – July 2017.”

It’s vital to encourage clients to leave reviews

reviewspic

Having a number of good reviews on various websites can go a long way for real estate professionals, as many would-be buyers and sellers conducting online research, often use this as a resource for choosing an agent. Of course, the best way to get good reviews is to continually provide positive experiences for clients on either the buying or selling side of the real estate sales process, but agents can’t always count on people to go online and leave a nice note of their own volition.

That’s where an agent’s ability to read the situation and determine whether the relationships they’ve built up with their clients are strong enough to let them suggest the idea of leaving a good review, rather than hoping they do so, according to Premier Agent. There are plenty of ways to do so without coming across as insistent – which is why some agents may avoid the suggestion in the first place – and that might include talking about the importance good reviews have for agents early on in the shopping or selling process.

That way, by the time the sale is complete, people may already be prepared to leave a review without additional prompting.

Other methods
In addition to casually hinting at the importance of reviews, agents may also be wise to write that kind of ask into client-facing email newsletters. If these people are signed up for a newsletter in the first place, they’re probably going to feel pretty good about the agent overall, so asking them to take a few minutes to leave a positive review within the context of that newsletter can often pay off.

But even before doing any of that, the more agents can do to make sure it’s easy to review them on any number of sites – by providing links and examples – will probably go a long way as well. And for agents who start to cultivate even a handful of reviews per week, featuring them on social media can be a good way to encourage others to do the same without coming right out and asking.

Using what comes
In addition to simply letting those positive reviews build up on sites like Zillow, Yelp or Google, it can also be helpful for agents to regularly comb the feedback they get and post the best examples – permanently – on their websites and elsewhere, according to 360 Training. Editing them down to just a few quick words and including them at the tops of pages on the site, or incorporating them into marketing materials, may be a good way to put the best possible foot forward when people start looking for an agent to work with on a sale.

The work of obtaining and cultivating lots of positive reviews may seem a little daunting at this time of year, even for the most experienced agents, but their value for both the short and long term cannot be understated. If dozens or more good reviews are the first thing prospective clients see, the return on investment for just asking current clients for this favor is likely to be massive.

Brought to you by HMS Home Warranty.  HMS is an industry leader with over 30 years of creating success for clients and providing peace of mind for customers.  To learn more click www.hmsnational.com.