Brokers, don’t get caught in a Q4 budget scramble. If you have remaining money to spend, use it, don’t lose it. Lay out a strategy for how to get the most value out of your dollars based on your marketing goals. Using the balance to market your firm and your agents is a prudent way to invest in the future of your firm.
The general rule is for a business to spend about 10% of its budget on marketing, but marketing is responsible for leading revenue growth at nearly 40% of companies. Even post-pandemic lockdown, most people are spending about 8 hours of their day on digital media, making digital channels the best way to reach your audience.
Below you’ll find 5 digital marketing ideas to help accelerate your growth and keep your budget healthy for next year.
Streaming TV commercials
Streaming TV advertising is said to drive a higher ROI than traditional linear and addressable TV. Lower cost and a wide but precision-targeted reach make this a more efficient spend than you would get on cable. That’s not to mention the exponential growth of cord-cutters opting into streaming—that’s 6 million households between 2019-2020 alone. Video is the reigning champ as the most engaging marketing format, so all of these things combined make streaming TV our top pick.
Marketing credits for your top agents
Your top agents are your firm’s lifeblood. Finding additional incentives that will help retain them at your firm can be challenging. Reward them with money that they can spend on their own personal marketing. Adwerx’s Top Producer Platform is a managed digital advertising platform that is tailored to each individual’s business goals, budget, and market. Keeping your agents in front of their referral sources with personalized digital advertising is proven to drive a 15% increase in sales productivity.
Recruiting campaigns
Recruitment season is coming, and today’s agents have a lot of choices. Upgrade your firm’s recruiting strategy by implementing a multichannel approach. Introduce your firm as a tech-savvy market leader with recruiting ads delivered directly to individuals via custom audience advertising. Use the ads to drive traffic to your careers page to get warm leads. Have another touchpoint by delivering an email to their inbox, then finally, deliver a personal touch with a phone call to follow up.
Listing ad extensions
If your brokerage is already running advertising for your agents’ listings, take advantage of this hot market and increase in digital media consumption by reaching the same engaged audience with updated messaging to highlight just sold properties. Consider extending the length of your campaigns and changing the ads to highlight to potential customers how quickly your agents are getting homes closed, or simply the fact that homes are selling in the potential seller’s neighborhood.
Brand advertising for every agent
Turn up the dial on your digital brand advertising in your market. Drive referrals and keep your agents top-of-mind by creating brand awareness for your firm and your agents using a FaceForward™ approach. Digital brand advertising helps build relationships with the right audiences and supports traditional marketing efforts by improving ROI. Combining email marketing with brand advertising, for instance, increases reach by 77% and conversion rates by 22% according to a study by Facebook.
There are many options and factors to decide when it comes to allocating your remaining budget. If you’re unsure of what marketing mix is right for your firm, contact Adwerx for a custom consultation.