During the last coaching session with my mastermind group of top producers, we did an exercise where I asked them about the marketing reality that they’re facing. We focused on answering the question of what’s working in their businesses so that they could reorganize their target market, question if their messaging was on point and make smart media buying decisions.
The first thing we did was to take an inventory and ask: “Last year, where did your business really come from?” It was an eye-opening experience because this particular group of top producers actually gets most of its business from influencer marketing to past clients versus the perception that much of it had come from Internet lead sources.
The next thing I asked the group was whether or not they liked the type of business that they had done in the past year. Most members really enjoyed the influencer marketing to past clients and their sphere of influence both on and offline. Although some were very good at converting Internet leads, most didn’t enjoy the grind. When all was covered, we determined that Internet leads, although an important part of any top producer’s book of business, should be re-weighted allowing for more low tech marketing efforts.
Perhaps the biggest surprise was how unclear most of the group was on how to articulate a clear message through their marketing. It’s such a can or worms that I didn’t tackle it in full here however, I will suffice to say I’m hammering them all to start with the simple message that is founded on, “I have a plan for that.”
The last thing we tackled was the reality of our marketing budget and how that calls for the discipline to not overspend on every great idea. The challenge for any entrepreneurial real estate agent is to control yourself when you begin to know what’s possible because you get excited and want to try everything believing that you’re missing out and behind in the race. My best advice is to take a step back and understand that your first step should be to focus on mastering the basics. Ultimately, the smartest real estate marketers stick to a plan that best serves smart growth and they don’t worry about what other agents are doing.
To summarize the key point: “What Works Best In Reality Is The Best Place To Direct Your Marketing”
Key takeaways from this episode:
In this Episode, We’ll Cover: Marketing Reality
- Where Does Your Business Really Come From
- Do You Like The Type Of Business Your Doing
- Is Your Message Confusing Or Defensive
- Organize Your New Plan By Budget & Media
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