Your REALTOR® Marketing Plan

Written by Barrett Niehus

Your REALTOR® Marketing Plan

By Barrett Niehus

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 inrepparttar 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 layrepparttar 150415 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 identifiesrepparttar 150416 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 determinerepparttar 150417 best way to target them.

Step 3) Identifyrepparttar 150418 medium. List all ofrepparttar 150419 possible mediums to touch your customer. Arrangerepparttar 150420 list fromrepparttar 150421 most specific way to targetrepparttar 150422 customer torepparttar 150423 broadest way to touch your prospect. Onrepparttar 150424 same list, listrepparttar 150425 prices per piece andrepparttar 150426 specific price per prospect. This will give you an idea of where to best spend your money and where you will receiverepparttar 150427 greatest return on investment. . Step 4) Allocate your budget. Identifyrepparttar 150428 top five mediums that touch your prospects in a cost effective manner and allocate 80% of your budget across those pieces. Reserverepparttar 150429 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 outrepparttar 150430 periodicity ofrepparttar 150431 total campaign as long as possible to maximizerepparttar 150432 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 withrepparttar 150433 same piece more than three times as resistance to your medium and message may develop.

The MOST Expensive Mistake You Can Make

Written by Jeanna Pool

Most people who own a small business have a huge passion and talent forrepparttar product or service they provide. Some people have a business degree. Some even have MBA's or PhD's. But, most who own their own business just have a passion for what they do.

So, they try to make a difference...and a profit.

But, running your own business is very hard. We all hearrepparttar 150378 in five don't make it, every third small business fails, one out of two flop and on and on and on. Plus, small business owners have to wear a lot of hats: sales person, marketing manager, accountant, janitor, customer service representative, human resource department, etc...

You name it, small business owners do it.

The learning curve is great. And business owners make many mistakes. Some mistakes are just part ofrepparttar 150379 growing process, while other mistakes may cost only a few bucks or thousands of dollars. But one mistake I am about to describe can berepparttar 150380 MOST expensive mistake you can make in running a small business.

What'srepparttar 150381 mistake?

It isrepparttar 150382 very simple, but VERY costly mistake of having your logo, stationery, brochures, web site and all other marketing materials for your small business look cheap, poorly designed, thrown together and unprofessional.

Every single week, I see a multitude of small business owners who are making this very mistake. They just don't get it. They don't realizerepparttar 150383 cost of this mistake. They don't realize how much damage they are doing to their business and brand by using these unprofessional and poorly designed marketing materials. Essentially, what they are doing is creating a sub-par first impression that is burned intorepparttar 150384 mind of new prospects forever.

The old adage is never get a second chance to make a first impression. In running a small business, you cannot afford to look thrown together, cheap and unprofessional.

Why is this mistake so costly? Simple. It's because most small businesses look alike. Most look cheap. Most look unprofessional. In an effort to "save money", most just throw their marketing materials together or hirerepparttar 150385 cheapest person they can find to design them. Because of this, they don't stand out fromrepparttar 150386 crowd. They don't look likerepparttar 150387 experts they are and they don't attract clients, which is precisely why this mistake is so costly.

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