It’s a well-known fact that many agents spend little time developing a comprehensive marketing and advertising Budget. The logic is that if you don’t have very much money, why waste time and money investing in an annual marketing and advertising schedule? If you don’t have a hefty budget for promoting your business and marketing your listings, it makes sense to carefully screen every dollar you spend. It always makes sense to spend your money wisely.
Consider the four common mistakes that most agents make when it comes to advertising:
- No Repetition of Message or Branding – Advertising your business only when you have the money isn’t a good strategy. The reason is simple. If you took you time to develop a campaign that integrated multiple touches, and gave more thought to spending the same amount of money, THERE IS ALMOST ALWAYS A BETTER WAY TO SPEND THE MONEY. Always ask yourself: Is there a better way for me to spend this money? A better approach is to look at the funds you have available for advertising and listing promotion, and figure out a way to get the biggest bang for your buck through Spaced-Repetition of touches. If that means you reduce the size of your mail recipients by 75% so you can send 4 mailings instead of just one, then reduce the number you’re mailing.
- A Generic Headline – Most agents give little thought to creating a simple, catchy headline. You must remember, because of information overload, most readers will glance at material then decide if they want to read the content. You literally have seconds to get a prospect’s attention. Use the time wisely by creating a catchy headline. Ask yourself: “If I were to receive this information, would I want to read through it?”
- Trying to Make the Piece Appeal to Everyone – If you try to capture everyone’s attention, you’ll end up capturing nobody’s attention. Be sure that the focus of your material is geared to a specific demographic. For example, if you think the property is most likely to appeal to boaters despite the fact that it has many other features, be sure the focus is specific to just one group. You could use; “Boater Dream Property”. If you try to appeal to everyone, the other benefits will dilute the message and the perfect boating prospect may overlook it.
- Wordy Content – Now that you have the reader’s attention, you want to keep it. Another common mistake involves the volume of information that is included in the piece. There’s an old expression that states; “Keep it simple salesman (KISS). Don’t let your story drag on and on. A good way to correct this problem is to create your piece, then force yourself to dramatically reduce its content by including only the most important information. Another great test for your content, ask a 6th grader to read it and tell you what they think what they think. One of the greatest Orators in U.S. history, President John F. Kennedy, used this approach to be sure his speeches would be well received.
- Forgetting a Call to Action – This mistake is a real deal killer. You get the reader’s attention, they enjoy your presentation then you forget to encourage them to take action. Don’t assume your prospect will pick up the phone and call you. Instead, do your prospects thinking for them. So, all they have to do is follow your instructions.
In the future, if you’re going to spend your money to promote your business, be sure to apply the rules above so you’re not just wasting your money.