Pulse is a recurring column where we ask for readers’ takes on varying topics in a weekly survey and report back with our findings.
When you first started out, you may have boot-strapped the marketing for your business. You may have taken advantage of no-cost options like social media to get your name out there in your community without an ad spend.
Over the past couple of years, you may have enjoyed such an active market that you didn’t need to spend much on marketing. In fact, your phone may have been ringing off the hook with eager buyers hoping that you had the magic formula for helping them to find one of the scarce listings in your low inventory market.
Now, as the market turns, you may find yourself having to put a little more time, money and thought into your marketing. Since that’s the case, we gave you a hypothetical scenario for this week’s Pulse: You have $500 to invest in your marketing plan right now. Where do you spend it? Here are your plans:
- Facebook ads (multiple)
- I’d spend it on adding landing pages to my website to enhance lead capture.
- Old customers, referrals and referrals. Going back to basics.
- I get 50 $10 gift cards and send them out to my top 50 most likely to refer clients.
- The first expenditures should relate to past clients and current listings, i.e. spend some to promote your listing, and your business at the same time. But also mail, email or text to past clients so they know you are busy and still in business.
- Gifts to top client referral [sources]
- Facebook and Google marketing
- I only use Zillow for leads.
- Email marketing
Now it’s your turn. Tell us what you’d do with 500 totally mythical dollars to spend on marketing.