Visibility on a budget

During the past few years the real estate market has changed drastically. Columbus is no exception: Chris Reese, president of the Columbus Board of REALTORS®, pointed out in a July newsletter, "We have the highest number of homes on the market we've ever seen. And with fewer buyers, our sellers are working harder to be competitive."

Trying to reach a potential buyer gets even trickier with the overwhelming amount of avenues available to reach them. However, by focusing on a few key elements of marketing the impact you have on them will be greater.

EFFECTIVE PLANNING WILL HELP YOU PRIORITIZE
An effective marketing program is executed from a marketing plan. A plan will identify the order in which tactics should be carried out during a set amount of time.

Before mapping out your tactics, the first step in creating your plan is research. During the research phase, you should consider: 

• Your competitors' marketing efforts. Analyze what they do and how they do it. 
• Surveying your clients or potential clients. Find out what marketing techniques were effective on them, such as direct mail, Web presence, etc.

Next, evaluate your current marketing techniques. Ask yourself these questions: 

• What marketing have I done in the past year? 
• Were the efforts successful? 
• What am I trying to achieve through marketing, i.e., new business, increased awareness, or name recognition?

Once you have researched the market and identified your goals, you can put your ideas on paper. Make sure your plan aligns with your business goals and fall within the allotted budget.

TARGET YOUR AUDIENCE
Knowing your audience is critical. Once identified, you can decide if they can best be reached through grassroots marketing or direct mail.Grassroots marketing puts you out in the community. It is a cost-effective way to deliver your message and gain visibility. REALTORS® can effectively increase exposure through education seminars, which usually have little or no cost and lets you target a specific audience.

You can host events at your office or partner with a local community center. Community centers usually will advertise your event for free and you may even be able to propose a series of seminars throughout the year. By varying your topic, you can easily target different audiences- first-time buyers, sellers, etc. You can also promote upcoming seminars at open houses and through word-of-mouth marketing. Be sure the seminar is informative and entertaining, and collect information of those in attendance by offering a free giveaway.

Direct mail also allows you to target your audience, although it can be a costly investment. Therefore, it is important to target specific neighborhoods. The more specific your initial data, the better results you will get.

Use direct mail to:

• Announce when a number of houses in the area have been sold by you and the price they sold for. 
• Spread the word about upcoming seminars or events you might be holding. 
• Give home tips for those that want to increase the value of their home or are planning to sell a home.

A SMALL INVESTMENT CAN PAY-OFF
In today's market, getting noticed may be easier said than done. With buyers doing so much preliminary research themselves, it is imperative that you make an investment in the Web.

One of the most basic marketing tools for the real estate industry is photos and a lot of them. In a society of instant gratification, a buyer will simply pass by your listing if there is no accompanying photo. The costs may add up, but the benefits far outweigh the initial investment.

According to an article posted on realtytimes. com, on July 27, REALTORS® with six or more photos accompanying their listing had a 558 percent increase in page views over those listings with no photos.

To increase your Web presence, remember to: 

• Use links. Having multiple links on your listing page means the viewer doesn't have to search for additional information and may spend a longer time on your listing. Link mortgage calculators, neighborhood information and all your contact information, including email. 
• Take advantage of your company Web site. If they don't already, suggest a different featured home every week on the homepage. 
• Make sure all information is correctly entered. Enter every detail about the home, so that if someone just searches a specific school district or home size your listing will come up each time.

UNDERSTAND THE VALUE OF RELATIONSHIPS
In a relationship-based profession, word-of-mouth can play a large role in your marketing efforts. To effectively create a buzz:

• Build a referral business. Keeping in touch with past clients will keep you top-of-mind and they will be more likely to refer you to friends or family. It can be as easy as stopping by with a house warming gift or calling every three months for the first year. Also, be sure to keep all old clients on your mailing lists. 
• Know the neighborhood and the neighbors. Introduce yourself to neighbors, find out what the neighborhood is like- are there a lot of children, is there a neighborhood association, etc. Being familiar with the area and those that live in the vicinity gives you expertise when selling in the area and the neighbors will remember you. 
• Keep the dialogue open. Send letters or emails to potential clients that you meet at open houses. Follow up with them and offer to meet them at their convenience where you can begin to create a comfortable, trusting relationship.

The bottom line is marketing is an effective tool for anyone looking to boost visibility and credibility. Remember to start slowly and lay the groundwork for a successful marketing program with a solid, well thought-out plan. Marketing is not only rewarding for your business, but can also be fun.

JENNIFER KERNS, PCM, manager of client services at Marketing Works in Worthington. She was awarded Marketing Director of the Year for an associate member at the BIA MAME awards. You can reach her at 614-540-5520 or kernsj@marketing-works.net.