Real Estate Marketing Plan

Transcription

Real EstateMarketing PlanA business without a marketing plan is a ship without acompass, rudder or flag: nobody knows who it is,where it’s going or why it even set sail.1

A good marketing plan can set you up for success, identifying the right tools and messages toeffectively reach your audience, better service your clients and differentiate yourself from thecompetition.Use our customizable template and create a roadmap to your most successful year yet! Determineyour business goals, identify your customers and competition, outline a plan for generating leads,and more.To populate the template, simply place your cursor in a highlighted field and enter the information.After you populate your template, save it to your laptop. Remember that your marketing plan is aliving document and you should expect to revisit and update it regularly.Vision. 3Our team . 3Target customer . 4Goals . 5Unique selling proposition (USP) . 7SWOT analysis . 9Competitive analysis . 10Marketing materials . 12Marketing calendar . 13Lead generation . 14Lead conversion . 15Sales forecasts . 16Customer service. 16Measuring performance . 172

VisionWhat, specifically, do we want our business to achieve or accomplish in the midtermand long-term?Example: We intend to provide [target customers] with [service] that makesthem feel [emotion] and [emotion] in working with us, not only during thehome [buying/selling] process, but beyond closing, too, so that they can’t waitto tell their friends and families about us.Example: Our company will change the way [target customers] think about realestate. How we provide [service], [service] and [service] will leavethem thinking our way is how every real estate company should do home[buying/selling].What is our vision?Our teamNameFunction3

Target customerWho, specifically, is our target customer?First-time home buyersHome sellersRentersOther (e.g., relocations, retirees, investment properties, etc.)What is our target customer’s story?QuestionAnswerOur strategyWhere do they want to live?What is their age?What is their annualhousehold income?What is the householdmakeup?What do they want from theirhome?What are their feelings andconcerns about searching forand purchasing their home?4

What do we want our target customer to think after receiving the marketingmessages we send through our various methods (ads, corporate website, socialmedia, etc.)?Example: After receiving our message, we want target customers to believe that ourcompany is available 24/7 with the people and knowledge to guide them quickly andpainlessly through the home buying or selling process.What do we want our target customer to think after receiving our message?What exactly do we want our target customer to do?Example: We want our target customer to call or email our office and schedule anappointment with one of our agents.What exactly do we want our target customer to do?GoalsBusiness goals: What does success look like for the business?Example: Close 2 million in sales for the year.Goals5

EXAMPLEStrategic goals: What are our strategies for achieving our business goals?GoalStrategyClose 2 million in sales forBe recognized as one of top 10 real estate agents forthe year.home sellers in the county.GoalStrategyEXAMPLETactical goals: What actions do we take to implement our strategies?StrategyTacticBe recognized as one of topPost 10 customer reviews per month to our Zillow10 real estate agents forGroup profile page and corporate website.home sellers in the county.StrategyTactic6

Unique selling proposition (USP)What do we offer that no one else does?ForWho need[Our Company]’sEXAMPLEProvideshome buyer clients(target customer)to find and purchase their first(the problem/challengehomewe solve)personally guided process(product/solution)quick and painless home(quantified benefits)purchasesAt5 percent commission(explicit price)UnlikeXYZ Real Estate Inc.(our competition)combining our extensive(how do we do it)We do this byknowledge of the market with adeep understanding of ourclients’ needs and concernsAs demonstrated byForWho needthe consistently high number of(proof points)listings and referrals we receive.(target customer)(the problem/challengewe solve)[Our Company]’s(product/solution)Provides(quantified benefits)At(explicit price)Unlike(our competition)We do this by(how do we do it)As demonstrated by(proof points)7

EXAMPLEHow do we specifically differentiate ourselves from our competition? How do weknow if it’s working?DifferentiatorHow we do itWe know it’s workingbecause First-time home buyerOur top three buyer agentsLast year, 18 percent ofexpertisehave 60 years combinedour first-time home buyerexperience with first-timeclients indicated they hadhome buyers.spoken with anothercompany before signingwith us.DifferentiatorHow we do itWe know it’s workingbecause EXAMPLEWhat steps do we take to maintain that differentiation?DifferentiatorHow to maintain itFirst-time home buyer expertiseDifferentiatorKeep at least three agents with this expertise onstaff Ongoing education Use in our marketing messagesHow to maintain it8

SWOT analysisEXAMPLEWhat are our strengths, weaknesses, opportunities and idOverstaffedRaise brandCash flow couldunderstanding ofawareness amongforce us to reducechallenges facingfirst-time homestaff.first-time ThreatsEXAMPLEHow will we leverage our strengths, overcome weaknesses, seize opportunities andeliminate threats?StrengthsHow to leverageSolid understanding of challenges facing first-timehome buyersStrengthsDevelop a guide on “Things to Consider WhenBuying Your First Home” Offer a seminar for first-time home buyers Develop plan to capture attendee information Advertise seminar on blog and social media Hold seminar as soon as possibleHow to leverage9

WeaknessesHow to overcomeOpportunitiesHow to seizeThreatsHow to eliminateCompetitive analysisEXAMPLEWho is our primary competition for this market and why? How will we address thechallenges?CompetitorStrengthsXYZ Real Estate Inc 13 years in operation Multiple buyer and selleragents and licensedassistantsWeaknesses Focus on luxuryhomes Crowded website withhard-to-find contactinformation10

CompetitorStrengthsWeaknessesWhat is our plan to capitalize on our competitors’ weaknesses?CompetitorWeaknessHow to overcomeXYZ Real Estate IncFocus on luxury homes We will include low- tomid-range homes inour listings We will publish how-toblog articles onEXAMPLEspotting diamonds inthe rough,determining howmuch home you need,and calculatingmortgages We will hold a seminaron finding the righthomeCompetitorWeaknessHow to overcome11

Marketing materialsWhat marketing materials and methods do we use to reach our target audience?Key featuresNotesBudgetWebsite (our own)Listings with atRefresh content 1,000least five photosmonthlyEXAMPLEResourceeach, blogarticles, reviews,white papers,MLS and IDXfeedsResourceKey featuresNotesBudgetWebsite (our own)Social mediaWebsite:Website:Website:Website:Online advertising on arelated site (e.g., Zillow)Email drip campaignsNewspaper adsDirect mail postcardsSignageRegular blog or contributorto another writing platformBrochuresMedia kit12

Business cardsFlyersDoor hangersGiveawaysNewsletterHoliday cardsVideoMarketing calendarWho leads the creation and maintenance of our marketing calendar?Marketing calendar leadWhat are our marketing milestones?Example: 50% increase in website traffic for the year 2019Example: 33% increase in leads through online methods during each quarter of 2019What are our marketing milestones?13

Lead generationWhat are our most effective methods of lead generation? What kind of return do wesee from each?Note: The return on leads generated through an online source is calculated using an online closerate, which ranges between 0.02–0.04 percent. In the example below, we use the low end of 0.025percent for the close rate, 360 for the leads generated in a year, 250,000 for an average sellingprice, and 0.03 percent for an average commission rate.Return [(# of Leads in a Year x Conversion Rate) x (Average Selling Price)] x Average CommissionExample: [(360 x 0.025) x 250,000] x 0.03 67,500TacticGeneratesleads ommissionReturnWebsiteAdvertising, printPublication:Publication:Advertising, onlineResource:Resource:Online pay-per-clickAdvertising, broadcastTVLocal radioMonthly bulletinsLender partnershipsReferrals, personalReferrals, professionalReviews14

FarmingNetworking events,including conferences andtradeshowsLead conversionWhat is our primary method of converting leads into clients?Example: We will invite leads to our offices for a meet-and-greet/informationalmeeting, and use it to schedule showings [home buyer leads] or a listing presentation[home seller leads]. We will follow up within 24 hours. We will invite them to ourmonthly “Real Estate Tips & Tricks” sessions.What is our primary method of converting leads into clients?What other methods do we use to convert leads?15

Sales forecastsWhat is the breakdown of our projected sales for this year and for the next threeyears?ForecastYear 1Year 2Year 3Agent salesBroker salesReferralsOtherTotal salesCustomer serviceEXAMPLEWhat is the “perfect world” delivery of our customer experience?ServiceMeasurementResponse time to incoming queriesLess than one minute regardless ofServicewhether it comes in by phone or email.MeasurementResponse time to incoming queriesSelecting listings for home buyer clientsScheduling showings for home buyer clientsFollowing up with home buyer clients on homesthey expressed interest inListing presentations for seller clientsMarketing homes for seller clientsPaperwork completion and feedback16

Final closing tasksPost-sale follow-up: 1 month, 6 months, 1 yearWhat loyalty reward do we offer repeat orreferring clients?Measuring performanceEXAMPLEMeasuring the performance of your marketing efforts shows you where to focusyour time and resources to meet your goals. If you track what works and whatdoesn’t work, you can improve your strategies and tactics, and see even greaterreturns.QuestionMeasurementWhat are our key marketing successIncreased website traffic and online leadmetrics?generationQuestionMeasurementWhat are our key marketing success metrics?What will success look like for each?How will we measure our marketingperformance?Who will determine if and how we will changeour approach?How often will we measure our marketingperformance?How shall we make our performance visible tothe entire business?How will we evaluate our customer service?How often?How will we measure customer satisfaction?17

percent for the close rate, 360 for the leads generated in a year, 250,000 for an average selling price, and 0.03 percent for an average commission rate. Return [(# of Leads in a Year x Conversion Rate) x (Average Selling Price)] x Average Commission Example: [(360 x 0.025) x 250,000] x 0.03 67,500