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

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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.

Look to other industries for marketing inspiration

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While many real estate professionals typically rely on tried-and-true industry methods of marketing their services, there’s something to be said for thinking outside the box. While old industry standards are well-known and often-used because they work, it can sometimes be a good idea to look to the way other types of professionals or businesses market their services. That can help provide new inspirations that agents might need as this year’s buying season arrives.

One of the big emerging trends in marketing is going digital-only, and while that might not be the best strategy for real estate agents looking to connect with would-be buyers and sellers of all ages, there are still good ideas to harvest from this new trend, according to digital marketing critic Gabriel Shaoolian, writing for Forbes. One of the big ideas that’s permeating digital marketing now is the need to get as personal and innovative as possible. What this means is that agents should be marketing themselves as local experts and tailoring their efforts to what their current or past clients have expressed the most interest in.

How can this be done?
One great method for connecting with clients in this way is by holding Facebook Live events that are advertised across various social media channels. While some agents are starting to hold these events for open houses, experts also say it can be wise to do so for something as simple as a question-and-answer session about a number of topics, including the real estate industry, what an agent’s job entails, the best way to buy and sell in today’s market and even local recommendations.

Along similar lines, agents that focus on sending out social media blasts that address similar topics via Snapchat might have a better time connecting with young clients in particular. The trick here will be to find a social media tone that works and feels natural. That will help create an authentic and enthusiastic feel to any digital marketing efforts.

What about the real world?
Meanwhile, agents can also find inspiration in the way online-only companies market themselves offline, according to Tech.co. Of course, many of these companies rely on the same kinds of traditional advertising methods that may be old hat to those in the real estate game, like newspaper ads, local signage and so on. However, one area where these online businesses may be able to provide a little more of an edge to agents is through what some call “event marketing.”

This means that putting down a little bit of money to host a small event – even something as simple as a fun fair for kids in the office parking lot – can attract a lot of attention from passersby and help to get an agent’s name and face out there. Being ready to talk to people about how agents’ expertise can help to ease the stress of the real estate sales experience is wise here, of course, but if the name of the game is just to get the word out as the buying season gets underway, this is a great place to start.

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.

Master multiple tech options to boost real estate sales

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While the key to marketing is to be visible, it might not always be possible to be as “out there” as you’d like. With this in mind, it’s vital to keep up with the latest trends in emerging technology to highlight home features in a way that will appeal to would-be buyers.

For instance, wearable tech, like smartwatches, have started to gain a bit of traction among consumers, especially younger ones. As a result, it may be possible to incorporate these devices into online real estate marketing in a unique way, according to Inman. Some small drones now come with technology that allows them to “lock on” to a smartwatch or other wearable device and follow the wearer around. This technology may make it possible to give virtual guided tours of listings, using drones to guide the buyer through the property.

Other emerging technology
In addition, you could apply similar ideas to video tours compiled for virtual reality-enabled devices. This type of equipment can work for something as simple as a smartphone with a connected headset and can go a long way toward allowing a user – perhaps one who cannot attend an open house – to virtually walk through a listing and get a near-interactive experience.

Likewise, even those who can attend an open house may be able to get in on the virtual experience with a technology known as “augmented reality.” Many agents may have seen this tech reach immense popularity already with the popular Pokémon GO! smartphone app. In that game, the phone’s camera superimposes Pokémon into real-world settings, allowing users to feel like they’re catching Pokémon in their own neighborhoods.

Other tech companies are now undertaking similar efforts that could have an application in real estate: AR would allow people to superimpose furniture and other accessories into spaces at an open house to better personalize the experience. This way, they can get a clearer feel for what a home would look like when it is more suited to their tastes. That capability alone could revolutionize the way open houses work within the next several years.

Getting proactive
The key for real estate agents when it comes to utilizing this kind of technology might be getting out in front of local trends, according to Real Estate Weekly. Because technology like AR and VR is often somewhat inexpensive to implement, it can be wise to at least invest a few hundred dollars in these options or at least play around to see if they work for boosting sales.

“Technology has gone from something that can help you to something that is necessary,” Zvi Band, founder and CEO of Contactually, said at a recent real estate conference, according to the site.

Agents can use emerging technology to make themselves stand out from the competition and get an edge in local sales.

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.

December Marketing & Tech Stat

This month’s Marketing & Tech Stat showcases the far reach that BHHS agents have all across the United States. If you have clients that are relocating, chances are you’ll be able to assist them in finding a Realtor® in their new area.
Click the links below to access the corresponding items:

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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 – December 2016.”

November Marketing & Tech Stat

This month’s Marketing & Tech Stat highlights the Millenials age group of homebuyers and the spending habits they generally have. This is great content to help better relate to and connect with clients that fall into this category.

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Click 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 – November 2016.”