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Ri403 Marketing Rathbun

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Ri403 Marketing Rathbun

  1. 1. Welcome to…<br />RI 403: Personal Promotion<br />
  2. 2.
  3. 3. 2007 NAR Profile Home Buyers and Sellers<br />
  4. 4. What are they looking for?<br />93% looked for Homes <br />21% Area Information<br />5% Real Estate Company<br />3% Real Estate Agent<br />
  5. 5. 2007 Profile of Buyers and Sellers<br />
  6. 6. How the Buyer found the house<br />
  7. 7. Why Clients Chose Their Agent<br />You should know the client / customer’s expectations as well as their needs*<br />
  8. 8. Generation<br />170% Growth in 35-45 year olds in past year<br />Average age of a user is 32<br />Majority are College Graduates<br />Largest increase of users are those over 55 in the past year<br />175 million active users<br />Average users have 120 friends<br />18 million update daily<br />Over 3 Billion minutes spent on Facebook daily<br />Source: http://www.facebook.com/press/info.php?statistics<br />
  9. 9. Section One<br />Learning Objectives<br /><ul><li>Learn the differences between Business and Promotion expenses
  10. 10. Learn how and where to invest your money to get the optimal return on investment
  11. 11. Projecting your future income
  12. 12. Identify additional sources of business</li></li></ul><li>Exercise One<br />Defining Business <br />and Promotional Expenses <br />
  13. 13. Developing a Budget <br />Business Expense: Those Expenses incurred as a “cost of Doing business.”<br />Promotional Expense: Income producing expenses incurred in an attempt to generate leads and attract business.<br />Page 1<br />Page 1<br />
  14. 14. Business vs Promotional Expense<br />_P_ Development Brochure<br />_B_ Add Fax<br />_P_ Mailings Development<br />_P/B_ Postage<br />_P_ Newsletter<br />_B_ Digital Camera<br />_P_ Newspaper Ad*<br />_P/B Printing<br />_B_ Outside Assistance<br />_P_ Web page<br />_B_ Convergence Device<br />_P_ Internet Service<br />_B_ Cell Phone<br />_B_ Computer<br />15% to 20% of your Gross Income should be invested into Promotion and Marketing*<br />Page 1 and 2<br />Page 1 and 2<br />
  15. 15. Budget Framework<br />Rocks<br />Vacation, Private Schools<br />Debt<br />Insurance, Utility, Loans<br />Personal<br />Entertainment, Groceries<br />Tax Payment<br />Estimates / Quarterly Payment<br />Charitable Contributions<br />Tithes, donations, etc…<br />Business Promotion<br />Promote Yourself<br />Business Expenses<br />Dues, MLS, Equipment<br />Savings<br />401, Investments, Basic<br />Monthly Salary<br />Pages 3-7<br />Pages 3 and 4<br />
  16. 16. Marketing Requires <br />Adequate Funding<br />Don’t try to outspend “mega producers”<br />Start with people you know, who know you; your neighbors, and your sphere of influence. Here are a couple of easy and inexpensive ideas that work.<br />
  17. 17. Section Two<br />Learning Objectives<br />Upon completion of this section<br /><ul><li>Participants will be able to structure a personal promotion and marketing plan
  18. 18. Develop a personal budget and personal business goals
  19. 19. Identify market factors effecting their markets</li></li></ul><li>What is Personal Promotion<br />It’s the process used to establish yourself as “the” person to contact when a consumer wants straight forward, results oriented real estate services.<br />Page 8<br />
  20. 20. What is Marketing?<br />Marketing is the sum total of all that is done to promote the sale of a service or product<br />
  21. 21. Immediate Business<br />1. Regular and Consistent Contact<br />2. Consistent Format<br />3. Periodic Personal Contact<br />4. Follow-up and Ask for referrals<br />5. Generate Clients from Listings<br />(not “Use your sellers”)<br />Page 9<br />Page 9<br />
  22. 22. Prospecting examples:<br />Open House<br />Door Knocking<br />Telemarketing (Cold Calls)<br />Client Parties<br />Networking events<br />Social Functions<br />Community Events<br />Seminars<br />Booths at events<br />Teaching and Speaking opportunities<br />Any more?<br />Page 8<br />
  23. 23. Will Buyers and Sellers Settle for the Cheapest Solution?<br /><ul><li>In the absence of perceived benefits… Cheaper is the most likely alternative
  24. 24. Be prepared to demonstrate the benefits buyers and sellers will receive by working with you.</li></li></ul><li>The benefits of your services must equal or outweigh the cost of <br />your services<br />Yes<br />NO<br />YOURFEE<br />Lots of benefits<br />Not enough benefits<br />Cost<br />
  25. 25. What’s your USP?<br />(Unique Selling Position)<br />What makes you different?<br />How would I benefit if I chose your services?<br />You better have answers when the questions begin!<br />
  26. 26. You Must Avoid Appearing Like Everyone Else<br />What Makes You Different?<br />How do you demonstrate your <br />Unique Selling Position? <br />Page 10<br />
  27. 27. “What we hear and see over a prolonged period of time we tend to believe is true”<br />Spatial Repetition helps embed your <br />message in the heads of your target <br />audience and creates TOMA (Top Of Mind Awareness).<br />
  28. 28. Your name should become the name buyers and sellers think of when it comes to Real Estate<br />TOMATop Of the Mind Awareness<br />
  29. 29. Slogans from the Past<br /><ul><li>Plop, plop, fizz, fizz oh…
  30. 30. How do you spell relief?
  31. 31. When it absolutely positively has to be there overnight…
  32. 32. It takes a licking but keeps on ticking
  33. 33. The Un-Cola.</li></li></ul><li>Who Are They?<br />Page 10<br />
  34. 34. Express Your Uniqueness<br /><ul><li>Create a slogan
  35. 35. Incorporate your name with your slogan
  36. 36. This ties your name visually with what makes you unique
  37. 37. It will give you a position in the customer’s mind</li></ul>Page 12<br />
  38. 38.
  39. 39.
  40. 40. Where as some clients / consumers prefer seeing a photograph of the agent, it is not always necessary and sometimes can distract from the actual message.<br />
  41. 41.
  42. 42. Tools for Branding<br />1. Logo Design <br />www.eLance.com<br />www.HobbsHerder.com<br />www.gimp.org<br />www.Picnik.com<br />2. Slogan<br />3. Your Real Estate Image<br />4. Color and Style <br /> 5. Personal Appearance<br />6. Stay Consistent <br />Branding presents consumers with a consistent vision or image*<br />Page 12<br />
  43. 43. Self Evaluation<br />Who is the your specific audience?<br />What image do you want to project?<br />What Does your Brand say?<br />Are you accomplishing your goal?<br />
  44. 44. Three Secrets of Success<br /><ul><li>The first secret is to anticipate your consumers needs… and deliver just a little bit more than they expected from you
  45. 45. The second secret is to know your market and be ready to provide solutions when problems arise.</li></li></ul><li>Three Secrets of Success<br /><ul><li>The Third Secret: Accept that we have entered the age of the never satisfied consumer</li></li></ul><li>Some Examples of Slogans<br /><ul><li>The Neighborhood Specialist
  46. 46. The Condo King
  47. 47. The Affordable Housing Specialist
  48. 48. Second Home Specialist
  49. 49. Investment Property Specialist
  50. 50. First Time Buyer’s Expert
  51. 51. Lots Exclusively
  52. 52. For Personalized Service</li></li></ul><li>Section Three<br />Learning Objectives<br />Upon completion of this section<br /><ul><li>Participants will be able to describe and select their niche market.</li></li></ul><li>There’s a Market for Everyone<br />Whether you are associated with a full service percentage based brokerage; an Ala Carte provider, a Discount Brokerage or a real estate consultant there is an abundance of ready and willing buyers and sellers seeking the type of services you provide.<br />
  53. 53. The Best Way to get Started is to:<br /><ul><li>Decide what you like to do best
  54. 54. Decide what you’re best qualified to do
  55. 55. Decide which geographic area to work
  56. 56. Find out what people want so you can better serve their needs</li></li></ul><li>To get what you want, your customers must get the feeling:<br /><ul><li>You really like what you do
  57. 57. You do what you do efficiently and effectively
  58. 58. You care about them
  59. 59. You are providing them with quality services</li></li></ul><li>Marketing Involves Three Major Steps<br /><ul><li>Informing: Explaining what services you have to offer
  60. 60. Persuading: Demonstrating the benefits of your services or products
  61. 61. Reminding: Using spatial repetition to tell them over and over again</li></li></ul><li>Be Creative!<br />Your Turn: Name some others<br />
  62. 62. List Your Creative Ideas<br /> ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<br />
  63. 63. Niche Marketing<br />What is a Niche Market<br />Specific Group versus General Public*<br />Advantages<br />Easier to make personal contact<br />Database management<br />Focus on marketing dollar<br />Disadvantages<br />Smaller pool of prospects*<br />May alienate some consumers (luxury homes)<br />Page 13<br />Page 13<br />
  64. 64. Questions About Your Niche<br />What do I know about my niche?<br />What do we have in common?<br />Am I comfortable with them?<br />Where can I find them<br />How do I reach them?<br />What do they need?<br />How can I help them, where other’s can’t?<br />If I select a niche can I change it?*<br />Choosing a niche is not like choosing a geographic farm*<br />Page 14<br />
  65. 65. Mix Things up a Little<br /><ul><li>A combination of direct mail and e-mail is good for niche marketing because it delivers timely and useful information to specific markets
  66. 66. Postcards are effective and inexpensive direct mail pieces. They can be used in between major mailings </li></li></ul><li>Begin with Points of Difference<br /><ul><li>Establish Your Credibility
  67. 67. Deliver a Pre-Listing Package
  68. 68. A personal letter from you
  69. 69. Testimonial letters from Raving Fans
  70. 70. Production figures
  71. 71. Number of families helped
  72. 72. Feature your Performance Statistics</li></li></ul><li>To make sure the competition doesn’t win over your clients; provide them with an Award Winning Experience<br />
  73. 73. Let’s look at some good vs. bad marketing ideas<br />
  74. 74.
  75. 75.
  76. 76.
  77. 77.
  78. 78.
  79. 79.
  80. 80.
  81. 81. How Important is Photography?<br />
  82. 82.
  83. 83.
  84. 84.
  85. 85.
  86. 86.
  87. 87.
  88. 88.
  89. 89.
  90. 90.
  91. 91.
  92. 92.
  93. 93. Personal Brochures<br /><ul><li>A recent picture
  94. 94. A head and shoulder shot with your eyes prominent
  95. 95. Associations, education, accomplishments
  96. 96. Elected positions, awards & honors, and family background
  97. 97. More importantly, don’t forget your Website and your E-mail address</li></ul>Page 16<br />
  98. 98. Use Color<br /><ul><li>Color attracts 50% more attention than black and white.
  99. 99. Black and white attracts more attention than not mailing at all
  100. 100. If the content is consistently superior they will look forward to receiving your mailers.</li></li></ul><li>Neighborhood Expert<br /><ul><li>By delivering quality information, you become their real estate expert
  101. 101. Headlines draw attention and cause prospects to read your e-newsletter
  102. 102. You only have 3 to 5 seconds to capture the readers attention
  103. 103. Keep your opening short and interesting.</li></li></ul><li>Introduce yourself as the Neighborhood Real Estate “Expert”<br />Palmerston North Subdivision<br />2008 Marketing Update<br />Last year 36 homes sold for an average of $249,000 at 98% of the asking price. The average square footage was 2,590 and the average days on the market were 110. Presently there are 2 homes for sale and 1 under contract.<br />
  104. 104. Introduce your Services to your Sphere of Influence<br />Valuable Coupon<br />ONE FREE HOUR OF REAL ESTATE CONSULTATION<br />Coupon is Fully Transferable Valid until 12-31-2009<br />$125.00<br />Value<br />
  105. 105. Technology<br /><ul><li>Get out of your comfort zonetry something new
  106. 106. Today’s buyers and sellers are 35, today’s agent is 55. Our buyers and sellers grew up with technology and expect their agent to be tech-savvy. </li></ul>Page 18<br />
  107. 107.
  108. 108. What is Technology’s Role<br />It’s a tool to provide better service<br />It’s a Lead Generator <br />Advertisement Necessity <br />We only use 10% of our available software on our PCs<br />
  109. 109. The Human Factor<br />Don’t assume they prefer e-mail<br />Get a face to face meeting as soon as possible<br />Meet with Client when getting Documents Signed<br />Remember technology is a tool and not a replacement for YOU!<br />Be Patient<br />Use the PHONE<br />
  110. 110. Who is On-Line?<br />NAR Statistics (2006) On-Line Consumers<br />38% are between 25-34 years of age<br />67% are Married<br />17% are Single Females<br />8% are Single Males<br />Median income is $70,700 per year<br />
  111. 111. What are they looking for?<br />93% looked for Homes <br />21% Area Information<br />5% Real Estate Company<br />3% Real Estate Agent<br />Webpages should be your electronic brochures and relocation packet*<br />Webpages should not contain a log of movement…*<br />
  112. 112. On-Line Personalities<br />Easily Dazzled<br />Information Hungry<br />Usually between 23 and 44 years old<br />Want Constant Interaction<br />Typically not very loyal<br />Easy to get information to<br />Want Tech Savvy Agent<br />
  113. 113. Permission Selling<br /><ul><li>Starting now begin collecting e-mail addresses and permission to use them from everyone you meet
  114. 114. A good way to collect e-mail addresses is through your web site. Have an opt in feature.
  115. 115. Ask prospects to allow you to send them monthly articles of interest.</li></li></ul><li>List Building<br />Go to:<br /><ul><li>http://www.constantcontact.com
  116. 116. Browse the selections and tutorials to acquaint yourself with some innovative ideas on how to use mass e-mail newsletters and bulletins.</li></li></ul><li>NAR Opinion of CAN SPAM<br />E-mail is to be used for:<br />Responses to Inquires<br />Contact Clients and firms involved in a transaction<br />Remain in contact with former client<br />Promote Property Listings<br />
  117. 117. Virginia Required Internet Rules (18VAC135-20-190)<br />Agents name and licensed status must be disclosed on all solicitations or business related pages and e-mails.<br />Brokerage Name, address and phone number must appear on all webpages in the first viewable section.<br />Both must disclose all the locations in which they hold a license.<br />
  118. 118. Internet Rules I<br />All internet advertisement is under the direct supervision of the Broker.<br />Instant messages are exempt so long as previous disclosures have been made.<br />Chat Rooms – Disclosure must be made in ever instant that business services, recommendations or solicitations is to be made.<br />
  119. 119. Internet Rules II<br />Banner Ads – Disclosure link must be disclosed on the banner itself, can be a hyper-link.<br />Cannot show listings “For Sale” if they are under contract or sold.<br />NAR Rule – “REALTOR” cannot be used with any adjectives <br />
  120. 120. Webpage Example: Good<br />
  121. 121. Brand new look...Same great information<br />Correct and up-to-date information is your most important weapon when you sell your home. That’s why Brooke Miller has updated the look of her award winning web site: <br />www.BrookeMillerHomes.com. <br />It has a great new look but it is still filled with the information you need. <br /><ul><li>Visit the “Communities” tab for her latest Neighborhood Market Reports.
  122. 122. Visit the “Properties” tab for recently listed and recently sold properties in your neighborhood.
  123. 123. Quickly and easily order one of Brooke’s Special Reports.
  124. 124. Easily contact Brooke via e-mail.
  125. 125. And so much more.</li></li></ul><li>Brooke Miller Real Estate, LLC<br />
  126. 126. Webpage Example: Not So Good<br />Even if you’re proficient with the computer, you should consider hiring someone is to do your webpage*<br />
  127. 127. Working it Out<br />Refer to budget and make adjustments<br />Don’t be a “lone ranger”<br />Get help, as needed:<br />Other agents in your office<br />Virtual Assistants<br />Industry Blogs<br />Past Clients<br />Others?<br />Make sure you have current and accurate information and data*<br />Page 25<br />
  128. 128. Social media is people talking<br />with other people on the internet!<br />
  129. 129. Swanepoel Reports<br />“Failing to make a decision (to change) is simply not an option – the market will make one for you.”<br />(2008Swanepoel Report)<br />“Generation X and Y are growing up with a poor perception of the real estate industry.”<br />“They believe they can and should fix it.”<br />(2008 Swanepoel Report)<br />www.TheAgentTrainer.com<br />
  130. 130. The What and Why of Real Estate 2.0<br />www.TheAgentTrainer.com<br />
  131. 131. Rule Number One<br />Send e-mail only to those who have “opted-in”<br />
  132. 132. Marketing is a Conversation<br />www.TheAgentTrainer.com<br />
  133. 133. The What and Why of Real Estate 2.0<br />Swanepoel: “87% of Brokers feel that servicing smarter and more informed consumers as their largest concern”<br />Marc Davidson, 1000 Watt Consulting: “How long can a trillion dollar industry sustain disregard for the iPOD, MySpace, Facebook, YouTube, Starbucks, text messaging and brand conscious consumers?”<br />www.TheAgentTrainer.com<br />
  134. 134. Real Estate 2.0 Vernacular <br /><ul><li>“Friends”
  135. 135. IM or Instant Messenger
  136. 136. Links
  137. 137. Lurkers
  138. 138. Mashups
  139. 139. Permalinks
  140. 140. Trackbacks
  141. 141. Podcasts
  142. 142. RSS</li></ul>Blogs<br />Social Media<br />Wiki<br />Widget<br />Aggregation<br />Avatars<br />Posts<br />Comments<br />Subscribing<br />Tags<br />
  143. 143. Must Read Sites <br />www.AgentGenius.com<br />www.Inman.com<br />www.VARBuzz.com<br />http://sethgodin.typepad.com<br />http://narblog1.realtor.org<br />Your Local Newspaper<br />You Local Association&apos;s Blog<br />
  144. 144. www.LowesRealtorBenefits.com<br />
  145. 145. www.postlets.com<br />
  146. 146. Video<br />With video, you can make your <br />“first impression” perfect every time!<br />
  147. 147. FlipVideo<br />
  148. 148. Video – Where and What<br />Create videos for multiple uses<br />Corporate welcome message<br />Your clients recommending you<br />Product Demo<br />Listings<br />Communities<br />Niches<br />
  149. 149. Video – Where and What<br />Redistribute videos in multiple venues<br />Website<br />Yours and others<br />Newsletters<br />E-mail campaigns<br />CDs<br />
  150. 150. Blogs<br />Video<br />Podcasts<br />Photo Sharing<br />Mapping<br />Social <br />Networks<br />Resources<br />
  151. 151. Benefits of Blogs<br />Blogs are effective at<br />Spreading a message<br />Establishing credibility and authority<br />Connecting groups of interested readers<br />Networking<br />Giving a brand a human face<br />Reaching a wide audience<br />Getting exposure<br />
  152. 152. How Do You Get Started?<br />Find a Publisher – if you want to publish<br />Wordpress<br />Many websites offer one-click install of blog software<br />Activerain offers a free blog to REALTORS® at www.activerain.com<br />
  153. 153. Publishing with RSS<br />How are they read?<br />Through Internet Explorer<br />Through E-mail<br />On a BlackBerry<br />On a computer<br />Through Instant Messaging<br />Widgets<br />
  154. 154. Promoting your Blog<br />On all marketing materials<br />Website<br />E-mail signature <br />Brochures<br />Notes to clients<br />Share articles<br />Have property search on blog<br />
  155. 155. www.TopProducer.com<br />Page 24<br />
  156. 156. Active Agent for Outlook<br />http://www.sonomaenterprises.com<br />
  157. 157. Pat Zaby’s Respond Software<br />www.PatZaby.com<br />
  158. 158. Microsoft Outlook<br />
  159. 159. www.RealFutureCRM.com<br />
  160. 160. Rule Number Two<br />Always honor user requests to opt-out. <br />Make it a simple process and include <br />a Web site address in every message <br />that allows the user to opt-out. <br />
  161. 161. Rule Number Three<br />Confirm everything by e-mail: The initial opt-in, requests, and changes <br />in the customer profile. <br />
  162. 162. Rule Number Four<br />Avoid asking for too much information. Instead, structure your program so that you gain more information over time.<br />
  163. 163. Rule Number Five<br /><ul><li>Give and you shall receive
  164. 164. Customers give you their e-mail address in exchange for something of value
  165. 165. Be creative and follow through by delivering real value to the recipient with every message.</li></li></ul><li>Rule Number Six<br />Your list is an asset that only <br />you can use; do not sell or rent it. <br />
  166. 166. Rule Number Seven<br /><ul><li>Develop and post a privacy policy for your Web site
  167. 167. It reinforces how valuable they are to you and fosters confidence in your integrity.</li></li></ul><li>Rule Number Eight<br /><ul><li>Respond to customer e-mail inquiries promptly.
  168. 168. Believe it or not; the average response time to return an e-mail is 54 hours</li></li></ul><li>What did you learn today that can enhance the way you promote and grow your business?<br />

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