For top producers, there’s typically plenty of money available to pour into marketing campaigns. In those businesses, it’s all about trying to get the best possible ROI, rather than nickel-and-diming each expense to save a few bucks.
The reality for many other agents is much different. While marketing is a priority, there simply isn’t a huge budget to spend on things like extensive social media campaigns.
If you’re a real estate agent trying to stretch your marketing dollars to their fullest potential, try implementing the five tips below.
Tap into your sphere of influence.
If you’ve been in the game for a while, this isn’t exactly a new suggestion. Most agents start out by working with people in their circle, such as friends, family, neighbors, and professional connections. But not all agents check into their sphere as often as they should.
Let’s say you helped your cousin buy a home last year. By now, they’re all settled in their new neighborhood and have probably made some friends in the area. One of them might be looking to move, or they could know someone else who is. The only way to know for sure is to call your cousin and check in.
Is there a “for sale” sign a few doors down from your place? Find out which listing agent your neighbor is working with. Then, give the agent a call and offer to host an open house for them. You’ll get a chance to connect with fresh buyer leads, and it won’t cost you a time. Plus, you’ll have a working relationship with this agent, which means you can potentially make the same arrangement again in the future.
The idea here is to find ways to leverage your current connections to result in new leads and new listings. It will take a bit of effort, but when you see those new transactions rolling in, you’ll be glad you made those phone calls.
Volunteer in your community.
Many businesses get so bogged down in traditional marketing campaigns that they lose sight of the power of real world connections.
The truth is, you can advertise your business by simply being a positive presence in your community. After all, you are the face of your business. And what is advertising if it’s not promoting public awareness of your business?
Here are some things you can do to promote your business without spending a dime:
- Referee a little league game.
- Collect donations for a local charity.
- Volunteer with an organization like Big Brothers Big Sisters of America.
As people see you making a positive impression and learn more about you, they’ll be much more inclined to work with you. Remember: if you’re trying to attract buyers and sellers, you need to get them to know, like, and trust you.
Build your brand with Instagram Stories.
Instagram has become increasingly popular among businesses for a good reason. It’s a fun, dynamic platform that allows you to tell your brand’s story with ease. It also offers some unique opportunities to connect with clients.
Instagram Stories are a great tool for getting your brand out there. While you’ll mostly reach people who already follow your account, you’ll be able to build relationships by providing snapshots and short video clips from your daily life.
Post to your Story throughout the day to provide thoughts and updates about what you’re doing. These updates don’t even have to relate directly to your business—the idea is to humanize yourself and encourage people to regularly check in with you. Then, as time goes on, you can work on winning them over as clients.
Admittedly, Instagram is a big subject to cover here, so we’ll keep this brief. But, for a more in-depth strategy—and actionable ways you can use Instagram to grow your business—download our free e-book.
Highlight other businesses on social media.
You may be thinking, “I work so hard to get people to pay attention to mybusiness on social media. Why would I devote time and resources to other businesses?”
Believe it or not, sharing the spotlight with other businesses can be a great strategic move on your part. When you do this, you’re accomplishing a few different things. First of all, you’re making your customers aware of a business they might want to work with. You’re also building up your community (and, frankly, just creating good vibes). But, beyond that, you’re also increasing the likelihood of the other business pointing clients in your direction.
When you feature another business on your social media accounts, they’re almost certainly going to respond in some way—whether that’s by liking your post, sharing it, or even creating a post of their own about your business. This is the reciprocity effect in action, and it’s good for everyone involved.
So, think about some ways you might be able to highlight other businesses on your social media accounts. Write a blog talking up a local restaurant. Record video interviews with other professionals in your area. Maybe you could even create a broader strategic partnership. The sky is truly the limit!
Send a branded magazine to your past clients.
It’s five times more expensive to win a new client than it is to get more business from the people you’ve already worked with.
Let that sink in for a moment.
While you obviously want to make connections with new people and grow your client list, you should do everything in your power to leverage the people already in your database. When you connect regularly with your existing clients, you’ll remain top of mind, which puts you in a position to receive referrals and repeat business.
A branded, customized magazine from ReminderMedia is a powerful tool for staying in touch with the people you’ve worked with in the past. Each issue is full of amazing articles and delicious recipes. Better still, it features your branding and photos, along with a personalized letter.
ReminderMedia customers know that their magazine is also a great conversation starter. When each issue goes out, it gives you an organic opportunity to follow up. Just call and text your recipients to see how they’re enjoying your magazine. Suggest an article or recipe you think they’ll enjoy. When you do this, you’re showing a commitment to your clients beyond the transaction. You’re ensuring that you become their real estate agent—the professional who they’ll not only use again, but also recommend to their friends.
Ultimately, the best way to market on a budget is by making the most out of each individual interaction. By leveraging individual touchpoints and impressions into lasting, meaningful connections, you’ll ensure growth in your business for years to come.