Control your marketing budget by having a plan.
Investing your hard earned money into a marketing strategy to grow your real estate business never comes lightly. Even if you fully embrace its importance and have faith in a positive return.
Part of the frustration can stem from not having a great plan in place, or not having a plan at all. If you take the time to plan a marketing strategy you have confidence in, investing in it is so much easier. You know where, when, and how your prospects are going to be approached, and what each effort is going to cost you.
By consistently reviewing and measuring the progress of each of your marketing efforts, you can justify the expense, or make changes if things are not going as expected.
Experts say you should spend around 10% of your gross annual commission income on marketing. If you make 40K for the year, that would be $4,000. What can you do with 4K to grow your income so next year you make 60K or more gross? A lot! But you need to make wise decisions.
Even before you invest your hard earned dollars in costly marketing efforts, consider the FREE networking, social media, blog writing and other low-cost venues. These are great ways to reach your sphere. For the efforts with more cost, know your brand and audience, make a plan and monitor progress along the way.
Seeing the big picture helps too. Your offline marketing (postcards, doorhangers, business cards, flyers, print ads) drives potential clients directly to you or to your online marketing. Your online marketing (social media, website, blog posts, email marketing) works in tandem to automate your lead generation and conversion.
Taking steps to reduce the cringe factor when budgeting is not difficult. You just need to spend a little time developing a plan, devising a strategy then put the wheels in motion (or outsource if you are not a natural marketer).
Watching your business grow as a result of your smart marketing strategy will always put a smile on your face!
We offer budget-minded support. Get Started!
