How to Create a Strategic Marketing Plan

An effective marketing plan will illustrate not only how much of your budget you should spend on which lead sources but also reflect your most productive daily activities.

A marketing plan is a strategic blueprint that outlines your approach to promoting your products or services. It serves as a road map to achieving marketing objectives and driving business growth. In this week’s Silver Dollar episode, we explain a six-step process for how to reverse-engineer your income goal to produce an effective marketing plan for your real estate business.

1. Set an income goal that reflects healthy growth.
2. Identify your lead sources.
3. Categorize and assign a weight to each lead source based on the percentage of sales it typically produces.
4. Calculate the conversion rate for each category.
5. Assign a budget to each category.
6. Determine the daily activities you need to perform to get the required leads from each category.

Along the way, we discuss several key ideas, including:

• The rate at which you should be converting referrals.
• The importance of measuring and tracking key performance metrics, such as your conversion rate for each point along the sales funnel, from first identifying a lead to closing.
• The need to account for the life cycle of a lead, which can be several months to a year or more.

Finally, we encourage you to view a recording of our free webinar. It provides additional tips for creating a reliable marketing plan for the coming year and details on how our team at ReminderMedia can help.

We hope you enjoy this episode and act on the advice Luke offers at the end. We’d also appreciate it if you took a moment to leave us a 5-star review and comment on Apple Podcasts. (We read them on air!) Thanks for listening!

Connect | Resources

Free tool: Marketing Revenue Calculator

Free webinar recording: How to Make $100K Using Your ReminderMedia Marketing Platform

You can get more free resources, including additional tools, e-books, and lead magnets to attract new leads, by visiting our Resource Library.

Are you interested in working with Luke and Josh to improve your marketing, get more referrals, enjoy more repeat business, and begin living the life of freedom you deserve? CLICK HERE and get a special offer just for Stay Paid listeners!