A Digital Marketing Cycle for Realtors
How important is your reputation as a Realtor? I think you will agree that your reputation is critical to the success of your business. Historically Realtors' reputations and relationships were mostly formed within their communities. With social media, reviews, and search engines there is now another community that realtors need to pay attention to. The exciting news is that these platforms open doors for realtors to expand their overall reach creating opportunity for more business.
Can they find you? Do they like you? Will they advocate for you?
Can they find you? And I don’t mean if they google your name. Can potential new customers find you by simply typing in “Realtor + (your city)”. 90% of people who conduct this search will not look past the first page results. There are three sections displayed in a Google search result and the Realtors who are in either or all of these sections receive the lions share of inquiries by A LOT. Would you want to be on the first page of the search results?
You realize the importance of being on the first page search result, so let’s say we get you there. The next question is… Do they like you? These potential customers don’t know you yet but are about to form their first impression. There are many factors that will determine if they “like” you. One of the major factors will be social proof. What do others say about you? Do you engage back with customers?
The next question is will they advocate for you? This brings it back full circle because if your customers do advocate for you online it further helps your next customers find you and like you, and the cycle continues.
Let’s make sure you are found, liked, and advocated for. Here’s how you or we can do it…
SEO (Search Engine Optimization)
If someone doesn’t already know a Realtor how will they likely find one? That’s right they will Google realtor + the area they need service for. Here’s the crazy thing... for a relatively low cost Realtors can have work done to help them appear in the search results first page. In fact a small handful of realtors in your area are getting 700% of the interest when someone is looking for your service on search engines. Don’t be fooled, some people think that the top people are at the top and there is no way now to get there. This isn’t the case. Google reports that the top search results change approximately 20% every year.
Online Advertising, PPC (pay-per-click)
PPC advertising is extremely effective. In fact it is so effective that every single large brand in the world uses PPC. Google reports the average return is 2 times the investment. So if you spend $1000 you are going to make $2000. The math alone makes this a no brainer. Having said that I live in a place that is extremely competitive for PPC advertising and this drives the price up for every click. The flip side of that is it also costs approximately $2 million for a tiny teardown house here. What is the commission on selling one of those, let alone the average house which is substantially higher. An annual PPC budget for a Realtor in my area could be $50/day or $18 250/year. If you were to list one average house in this area your commission would easily pay for your annual PPC budget. With this budget you will appear in searches daily and with a less than average conversion you could gain at least one new customer per month. The return on this can and should be very substantial.
Utilize Social Media
Social Media has changed a lot of things and gives everyone a platform to express themselves. You’re likely connected to friends and family already on social media. Let them know of your accomplishments and the gratitude you have for your amazing career decision. Real Estate is such a great topic for social media as so many people are interested in it. Just think about how many reality shows feature Realtors. Social Media should get you referrals, should keep your previous customers engaged, and should be extremely profitable.
Manage Online Reviews
9 out of 10 consumers read online reviews. Responding to and managing reviews has become more important than ever for all businesses. By responding to reviews you are doing two major things in potential customers eyes. You are expressing gratitude for those customers who took the time to leave you a 5 star review and you are addressing any possible discontent with your service. Most people understand that you can’t please everyone. If you have received a negative review address it professionally by trying to understand it from your clients point of view. Future customers will appreciate that you have taken the time to acknowledge and try to address any concerns from a previous customer.
A second and very important part to this is not being shy asking your happy customers to leave great reviews for you.
Put Advocates to Action
This goes back to utilizing social media and managing online reviews. Your overall online reputation management can be very cyclical and when done impressively it will create a compounded effect to be enjoyed for many years.
The ROI for digital marketing with Realtors is sizable and will continue to compound. It doesn't make sense not to have a digital strategy.
You are a Realtor, you are great with people! We are nerds and are great with digital marketing. Quit missing out on new customers finding you, liking you, and advocating for you, and book your free assessment today.