When working in the real estate industry, it’s important to expand your market reach as much as you can. Now, this doesn’t necessarily mean to tap into multiple cities—though that would be nice. It means to ensure that you’re reaching the target market and demographics that you have identified. To do so, I always emphasize the need for multiple marketing channels.
Market reach refers to the total number of people or households exposed to a medium during a given duration or period. It’s the quantifiable aspect of marketing that can help guide campaigns and business. Ideally, you want a larger marketing reach to capture as many people as possible.
Let’s say that you are a real estate investor looking to sell a condominium suite. Depending on the size of the suite and location of the building, I would say that your potential client is a working individual, young couple, or someone looking to downgrade to a smaller space. If it’s a young working individual or couple, they are easier to target through the digital space.
This includes utilizing social media, online paid advertisements, search engine optimization, and more! I highly suggest implementing all of these to target the demographic through the channels they are exposed to. Utilizing online paid advertisements and search engine optimization are great ways to drive traffic to your website when they are doing searches on Google.
However, what if you’re selling a large detached home? This client is probably going to be someone with more financial stability and is looking for a long term home to raise their family. While they will still probably be on the Internet, you can expand your market reach by utilizing other marketing channels such as direct mail, television commercials, or radio advertisements.
By utilizing multiple marketing channels, you can ensure that you’re hitting all the points. It’s like hitting two birds with one stone, right? It ensures that you don’t miss any potential clients that may have missed your marketing message the first time.
The easiest way to connect with motivated sellers is by utilizing multiple marketing channels. Instead of depending on one single marketing channel to reach your audience, your marketing strategy should include multiple.
More marketing channels = more marketing reach.
What does this mean for you? It means increased awareness, consistent messaging, and more data to continuously improve your marketing strategies!
I have already mentioned a few marketing channels that you should be using, but here is an accumulated list of the ones I highly recommend:
● Social media
● Online paid advertisements with Google AdWords
● Search engine optimization for your real estate website
● Direct mail
● Television and radio commercials
● Print advertisements
● Email marketing
You’ll never know the potential marketing reach you can have unless you try! I recommend you to play around with each marketing channels because as a real estate investor, taking risks is necessary to test marketing communication strategies and figure out what is going to work.
On this episode of REI Marketing Nerds, we sit down with Frank McKinney, a groundbreaker in luxury real estate and a man of many talents. From humble beginnings to multimillion-dollar oceanfront developments, Frank’s approach to real estate is as innovative as it is effective. Join us as we dissect the mindset of mastering the craft
In today’s episode, Dan continues his conversation with special guest Eddie Wilson. They talk about making smart investment decisions and preparing businesses to be sold. They also discuss how these principles can be applied to positively impact non-profit organizations. Plus, they give a sneak peek into Eddie’s upcoming Aspire Tour, a special event for people
