3 Point Digital Marketing Strategy and the Importance of the ‘Assist’
Posted in Real Estate Marketing By Mike, Tuesday, August 26, 2008.Hi - This is an article that I recently wrote for an online trade publication that I thought would be relevant here.
Thanks
Mike
Too many marketers live in silos. Their strategy too often fails to address all the ways they could be reaching their target audience. In many cases if they are reaching their audience through the right channels the message is not consistent or integrated properly.
When I build a digital marketing plan for a client there are three primary points that I focus on. I encourage you to think about these three points if you are struggling with your own marketing challenges.
1. Channel Diversity - Are you reaching your customer in the places and at the times when it matters most? If you’re a real estate agent you should be reaching your customer in newspapers/tv/etc. (local paper, home shows) , online through real estate websites and social media (sites like Facebook, Trulia, Realtor.com), and in their email box or on your customers mobile device (with services like HItxt, http://www.hitxt.com). These are the primary ways your customer is consuming messages/communication which is why you need to be there. The levels of these channels start with a broad, untargeted reach (newspaper, etc.) and funnel to a very specific and personal connection with the customer through mobile interaction and email.
If you are successfully reaching your customer in these three areas you are building deep brand equity and a higher propensity to significantly speed up your sales cycle.
2. Message Consistency - So you are reaching your customer in the three primary channels listed above, but how consistent is your message. Ensure that customers are not getting conflicting messages between channels. Also, it’s important to use one channel to promote the other. For example listing your site URL on your TV spot. Or listing your SMS listing information in your classifieds ad. Showing a customer that your reach spans well beyond the way they are finding is important to demonstrate your ability as a marketer.
3. Measure the Team - This is an integrated strategy so don’t measure it in silos. Too many times I hear marketers criticize on area of a strategy like this consistently more than others. The fact of the matter is there are channels that will receive direct sales or leads and others that will drive sales or leads to that channel. It’s like hockey, players stats reflect actual goals scored and assists. The assist part is as important as the goal. Yes, you need to make sure you are seeing an ROI through any marketing efforts, but at the same time think holistically in how you are reaching people and how they will likely respond.
Don’t give your target customers the excuse that you were not accessible to them. Reach them at every point possible and deliver the clearest and most consistent message possible.
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Submitted by Gahlord Dewald | Thoughtfaucet on August 26, 2008 - 10:17am.
Great ideas!
I would probably make a minor aside on your discussion of channel funnel (print -> online -> email/txt/mobile) and note than any of these channels can be as mass media or targeted as you like. It's primarily an issue of media planning.
For example in the print world a brand-building run-of-paper ad in USA today might be fairly mass media while a condo ad in a pullout Condo special of a neighborhood alt weekly might be very targetted.
In the online space an ad on CNN.com, Trulia.com or your local news outlet's online real estate section would all have varying degrees of targetting.
Social media: Myspace/Facebook, LinkedIn, Neighborhood blogs/fora etc.
Degree of targeting is rarely married to a specific medium (even TV has niche local/topic stations).
And of course I love the focus on measurement! Yeeha!
G. Dewald | Union Street Media | Internet Marketing Blog for Real Estate
Submitted by Mike on August 26, 2008 - 10:23am.
Thanks for the reply and great points! Yes, it's all in how you build out your channel plan.
Mike Ouellette
Founder, HItxt
http://www.hitxt.com
SMS real estate listings
Submitted by David Bonyun on August 26, 2008 - 1:12pm.
Good article, thank you for sharing. I would advocate for a fourth channel - networking. Whether volunteering, attending chamber events or through social networking, having a face to link to the marketing is very important.
Submitted by Ken Smith on September 11, 2008 - 7:58am.
The goal is top of mind presence, that is if you ask someone in your area to name 3 real estate agents you want to be one of them. This can't be achieved without multiple advertising channels.
Submitted by OpenHouseDealer.com on September 11, 2008 - 1:22pm.
Thats a great concept Ken, but can you give me an example for this multiple advertising channels?
Thank you in advance.
David Yusupov
Tel#: 646 226-9738
www.OpenHouseDealer.com
Submitted by Justin Britt on September 11, 2008 - 4:06pm.
"Are you reaching your customer in the places and at the times when it matters most?"
Yes, if your site ranks well in Google...
I do agree that a combination of channels is the best way to reach your audience. However, you should focus a majority of your advertising dollars where they count. And that's when your clients are in there pajamas, at home, sippin' on their tea, thinking about real estate and actually searching for your services on that fancy thing called the Internet.
--
Justin Britt
Head-Web-Head
Hawaii Life Real Estate Services, LLC
Hawaii homes for sale | Real Estate Marketing
Submitted by Gahlord Dewald | Thoughtfaucet on September 12, 2008 - 5:45am.
Britt: I agree that online presence is critical. But real estate customers think about the topic when they are not near a computer as well. In those instances other channels would be required.
G. Dewald | Union Street Media | Internet Marketing Blog for Real Estate
Submitted by Jeff Manson on September 12, 2008 - 1:03pm.
I agree that you need to cover all channels your customers might see your message and what you are offering. They should all cross sale your services, but you definitely have to look at the ROI. Traditional advertising in magazines and newspapers are a waste of time and money. You are better off working on your online presence plus working your COI through consistent mailers followed up by phone calls. If you work these channels effectively your business will flourish :-)
Jeff Manson
American Dream Realty
Personal: Hawaii real estate
Company: Oahu homes for sale
Submitted by Gahlord Dewald | Thoughtfaucet on September 12, 2008 - 1:24pm.
I'm follow you on the ROI Jeff. But I don't think I'd go so far as to say that print and traditional are a waste of money. I do think that it's harder to calculate ROI on print. But I don't think that makes it a waste of money.
I think the way that real estate professionals have traditionally used print advertising (more like a classifieds approach) is probably not appropriate anymore. But there is still branding and display advertising.
If your audience reads magazines or newspapers then it makes sense for you to be there. Maybe not in the same way as you once were. But I wouldn't exit the channel entirely.
Of course, since I'm a web guy I probably shouldn't be making the case for print.
G. Dewald | Union Street Media | Internet Marketing Blog for Real Estate
Submitted by Chris Adams on September 12, 2008 - 1:32pm.
To all,
Perhaps the most important part of any marketing program is listening to your market. The consumer is the highest life form on the planet.
Second, being nimble enough to move with them and hear their needs.
Third, knowing that there is no monolithic approach to marketing anything.
...this is why social media marketing is so important-you get to try one until you find one that works in your market for you.
There is no silver bullet-only golden buckshot!
Steven Stearns
www.obeo.com
http://obeoman.blogspot.com
262-325-8687
Submitted by Jeff Manson on September 12, 2008 - 1:41pm.
@G Dewald - There are much more effective ways to spend your money than print ad. Especially since things are getting tighter for most agents. They can also call their past clients and COI for almost nothing accept time. Personal contact is usually the best :-)
Jeff Manson
American Dream Realty
Personal: Hawaii real estate
Company: Oahu homes for sale
Submitted by David Bonyun on September 12, 2008 - 1:56pm.
In our area, (Western North Carolina) 29% of property purchases are made by out of state buyers. That leaves 71% that are moving from somewhere in-state, the majority of that number moving locally (within the same or neighboring counties).
There may be some benefit for putting your homes in the local issue of Homes & Land, but not much. However, there is much more benefit and less expense in online marketing.
In using online marketing, the key is demographics and analytics. If it doesn't cost a lot of time and money, by all means use a shot gun approach as well, but research your consumer. Who is the most likely buyer for your home? If it is in a high end luxury golf community look for services and publications (both online and off) that cater to your target. Secondly, guts are for holding beer. Don't guess that your marketing was successful because you sold a listing. Ask buyers how they found out about the home. Keep notes and review them often. Over time you will begin to see patterns.
Submitted by Justin Britt on September 12, 2008 - 2:35pm.
@G Dewald - I would agree with you that print is not dead. But as Jeff and David both point out, it comes down to cost.
@Steven - you've hit it right on the money when you say, "Perhaps the most important part of any marketing program is listening to your market." The NAR's latest studies show that 87% of consumers begin their real estate search online. And only 2% of buyers find their home through a real estate book or magazine, and 2% through newspapers. Of course this is National, and your market may vary slightly, so budget accordingly. But on a National average, this tells me that I should only be spending 4% of my marketing budget on print. Since print is so expensive, 4% won't go vary far, so for most agents, they shouldn't even be concerned with it.
I'm sorry G Dewald, but there's no argument here. Facts are facts, and once agents catch on, companies like Trulia will flourish.
--
Justin Britt
Head-Web-Head
Hawaii Life Real Estate Services, LLC
Maui real estate | Real Estate SEO