Ultimate Marketing Strategy for Beginner Real Estate Investors
What is Marketing?
Marketing is the process of getting a product or service from the seller to the potential customer. The keyword here is “process”. Marketing involves research and selling. It involves promoting and distributing products or services to customers. It involves everything needed to get potential customers to pay for your product. Marketing is teaching people why they should get your product or service. Why they should choose you over other brands. If this is not what you are doing then it isn’t marketing. Influencing and educating potential customers is the key to good marketing.
How Can Marketing Help a Real Estate Investor Get Leads?
Marketing is essential to any business, and real estate is not an exception. Without marketing, people wouldn’t know about your business. When investing in real estate, it will feel very daunting especially if it’s your first time. To ensure your investment turns into a profit, incorporate marketing into your strategy.
Passive Marketing vs Active Marketing
There are two kinds of marketing: passive and active. Below are their definitions and how both differ.
What is Passive Marketing?
Passive marketing is when you put out content and wait for responses from potential clients. For example, a business can make a website where they put in all the information that a customer needs to know. It takes planning and good execution to get results. Facebook posts and ads or videos are good examples of passive marketing. These are passive because you’ll have to wait for people to contact you.
Examples of Passive Marketing
Bandit Signs are a marketing tool that are used by real estate agents to find new leads. They are poster-sized printed signs that are often seen on the streets. Bandit signs are like billboards but smaller. The success of this marketing tool will depend on the strategic placing of each sign.
Online Paid Advertising has a lot of businesses embracing the internet as one of their main strategies. Examples include Google ads and Facebook ads.
Direct Mail Marketing is another strategy real estate investors can use. Direct mail marketing will get to anyone who owns a mailbox. The key to direct mail marketing is to target the correct demographic.
What is Active Marketing?
Active marketing is the type of marketing that needs action. This means networking with other businesses and people. This type of marketing needs constant work to spread the word. This marketing strategy takes effort and can be very beneficial for new startup businesses. Active marketing sometimes includes meeting with vendors and clients face to face. Making cold calls and holding sales appointments are often included. Active marketing requires you to have persistence and, of course, skills.
Examples of Active Marketing for Real Estate include Cold Calling, meeting with both clients and peers, and word of mouth.
Word of Mouth Marketing – How can it help beginner real estate investors get leads?
Word of mouth marketing is an effective marketing strategy for real estate investors who are starting out. A lot of people prefer to have recommendations from their friends and family. This is why word of mouth is such an effective marketing strategy. It’s a powerful type of advertisement as it gets people talking. This will give your business hype.
Word of mouth advertising is a type of active marketing. As beginners in the real estate business, this is the type of marketing you should do. Especially when you don’t have the resources to do passive marketing. This is a great way to get your business out there.
Examples of Word-of-Mouth Marketing include:
- Reviews from customers online
- Social media shares
- New clients referred by existing clients
- Generated content from clients
To have effective word of mouth marketing, make sure you know your audience. Be authentic and unique as possible. Have an edge that clients won’t find from other competition. And while you’re at it, build a community and interact with everyone. This will help build trust in your business.
There are many ways to kick start your real estate business. We’ve laid out different marketing strategies you can use to help you out. Are you ready to take your business to the next level?