Your REALTOR® Marketing Plan
By Barrett Niehus http://www.4mysales.com
The steps to creating an effective marketing plan begin with identifying who you are going to be targeting, what you are going to spend, and how many sales you are going to receive as a result of your efforts. By identifying this information in initial stages of your market plan development, you will significantly increase your return on investment and substantially increase your sales. Below is a step by step process to help you lay framework for your own marketing plan:
Step 1) Identify your budget. Identify how much you are planning to spend on your marketing endeavors in order to maximize your investment. How much are you planning to spend on your marketing? How many prospects are you planning to reach, and how many sales do you expect to close? Include your time investment in this analysis as well. Many inexpensive marketing tools take an enormous amount of time and subsequently have a significant cost.
Step 2) Identify your ideal customer. In order to target your customer effectively, you must know what they look like. This process is generally known as “stick figuring” and identifies key traits of your ideal customer. Who are they? What do they do for a living? What do they read? Where do they shop? What do they value? How do they entertain themselves? Where do they spend their time? What does their family look like? What is their income level? Answer these questions as specifically as possible to determine best way to target them.
Step 3) Identify medium. List all of possible mediums to touch your customer. Arrange list from most specific way to target customer to broadest way to touch your prospect. On same list, list prices per piece and specific price per prospect. This will give you an idea of where to best spend your money and where you will receive greatest return on investment. . Step 4) Allocate your budget. Identify top five mediums that touch your prospects in a cost effective manner and allocate 80% of your budget across those pieces. Reserve remaining 20% to use for unique or targeted follow-up marketing pieces.
Step 5) Schedule your campaigns Schedule each campaign to touch customers multiple times through different mediums. Plan some overlap on when each piece hits each prospect to maximize awareness of your services, but draw out periodicity of total campaign as long as possible to maximize duration of awareness. A good rule of thumb is to touch a prospect at least once per week. Multiplicity of your message is also beneficial. However, do not touch a prospect with same piece more than three times as resistance to your medium and message may develop.