5 Wasteful Spends by Real Estate Developers
What are developers wasting their money on when it comes to real estate marketing?
As a real estate developer, you probably already shoulder many responsibilities that require you to be at the top of your game. The last thing you want to deal with is losing time and resources on your real estate marketing.
Using a One-Prong Strategy
How are you reaching both realtors and homebuyers? If you don’t have a lot of time for real estate marketing and promotion, chances are you will try to focus on one thing at a time. Yet, as a real estate developer, you have many targets to focus on — such as realtors, first-time homebuyers, move-up buyers, luxury buyers, etc.
The wisest use of your promotion efforts is a strategy that is multi-pronged and innovative. You’ll need varying and creative ways to get your message out to each group. Host a realtor event, publish an editorial, run digital ads on HAR. There are many channels to consider.
Building Your Website Yourself (or Freelancer)
With so many website companies offering free or low-cost DIY websites, the temptation is great to sign up, cobble together a basic website, and cross “web presence” off your to-do list. The problem is that the free, decent-looking site you put together isn’t really of any real benefit to you.
That free DIY website service may offer you search engine optimization tools (SEO) but unless you use them and know what you’re doing, your site has no chance of showing up in top search engine results as a real estate development, hence it won’t be seen or found. Since more than half of all web searches are on smartphones or tablets, your website should be mobile-friendly. Even if your DIY real estate marketing service offers you a way to create a mobile version of your site, they will likely not do it for you. If there are customizations needed or testing required to make sure your mobile site functions correctly, you’ll have some homework to do.
Paying for Page Likes on Social Media
You could get away with this back when Facebook reach was high, but now many businesses are realizing they’ve invested a lot of time and effort in something they now have to pay to use. That being said, users who have liked your page may NEVER engage in your content. It's much more cost effective to select your audience each time you post or put dollars into a website click promotion.
Pretty Versus Effective
Pretty images and eye-catching graphics are more a bonus than content that has real value. People are looking for a service or a product, or information on how to get it. Imagery might grab their attention and even get them to your site. Yet, imagery without effective, relevant content won’t keep them there.
No Call to Action
Even if you have the content that your audience seeks on your site, with no clear call to action, you’re missing a lot of opportunities. A call to action is one of the most important things you can do in your real estate marketing. It’s an appeal to your users, inviting their response. A call to action is the tipping point between a bounce and a conversion – it’s that important.
Here is an example of an effective real estate marketing CTA: