Real Estate Marketing…Blind Faith?

By Jim Marks on October 09, 2007

I talk to Realtors every day… it’s what I do. I have the enviable job of pulling them, fighting, kicking, screaming and sometimes complaining into a 2007 marketing state of mind.

Real Estate marketing is a cattle rush… Realtors look at what, where and how EVERYBODY else is marketing and they jump in with both feet. If a few “top producers” start advertising in “over-priced homes weekly” because their advertising budget allows, many will follow and soon “OPHW” is the place to be.

But not even the Top Producers are checking to see if that publication is creating a return on investment. They just do it for the exposure…blindly and with little attention to actual return. I guesstimate that less than 5% of all Realtors even know what their return on investment is for their marketing programs… and the worst thing ? Out of the 1 in 20 that do? VERY few of them actually know WHICH portion of their marketing is working… which publication, which ad, which website, which call-to-action, etc.

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Now with the local merchants offer that we will sponsor opt in marketing, which also offers a wide range of drainage and building products of different categories, giving a builders supplier a special treatment with choosing different categories and products of the best quality. Including the test to create the interest in real estate marketing in the community.

Almost none would do a control test, with source information, etc… They may know what the ROI on their total marketing is, but on each ad? Hardly. The single most expensive cost of doing business with little or no oversight? Welcome to my world.

Over the next few weeks I will discuss the process of reeling in your out of control Marketing Budget, kicking the losers to the curb, and investing in marketing that will produce real incremental prospects. Investing in your business should not be stressful.

Follow along, take control, and get ready to market your way to success…

Next week-Return on Investment 101