All About a Marketing Plan for Real Estate

Coming up with a marketing plan for real estate properties is no doubt, the most important process you need to do. Without an effective marketing plan, you can never sell a home which means your real estate business can go down. To help you understand what a marketing plan is, this article is made to guide you.

Before you can come up with a plan, you must first be able to come up with a business plan because it is the foundation of your marketing plan if you fail to come up with a business plan. What you have for your business is usually vague missions and goals and it says that you have a little understanding of what you are up to. In this case, how are you going to improve your real estate business?

Importance of this plan

Nearly 90% of people who are searching for anything related to real estate rely on the internet. This alone gives you something that you can put into your marketing plan. That is using the internet to expose your business to a larger audience. What you have to do is to implement an effective online real estate marketing plan that generates more volumes of qualified leads on a consistent basis.

The next part of this article is the 4 steps to make a marketing plan, but before I go there, I’d like to give you a tip when writing your own plan. And that tip is to write your plan and re-write it many times until you have a clear, concise document that truly represents your business. This process is time-consuming, but I assure you in the end, it will be all worth it!

4 steps:

1. Market analysis. These are various pieces that need to be considered as you are researching which market to focus on or simply what we called the process of identifying your niche.

- This step requires you to inspect the home and identify the most important features and upgrades (if there’s any) of the home.

- Search for homes same with yours so that you can have an idea of how much your home is worth.

- Estimate the selling costs to determine your profit.

- Find a listing.

2. Marketing budget and strategies.

- You need to identify how much you will be willing to spend on your marketing so you will know what strategies you can afford. In doing this, be sure to be realistic. Knowing how much really you are willing to spend will help you identify and get the tools and tactics you can use.

3. The offers and delivers step

- After you have identified which market you will focus on, implement an online business place i.e. online listings. Some listing will provide your visitors with quality content and then provide them your contact information such as your email address and business website. This is also known as E-marketing plan.

4. Evaluation and control

- Evaluating your marketing plan’s success is no doubt needed. Evaluating it will let you be aware of what to do or not to do in your next marketing plan. This will help you identify if your strategies and tactics are effective.

7 Urgent Things To Do Before Writing Your Marketing Plan

Have you ever wondered how to streamline creating a marketing plan?

Can I show you 7 simple questions to ask to help speed up creating your next marketing plan?

The first question to ask is, “Do I really need a marketing plan.”

You may not. If everything you are doing to bring in all the business you want, don’t change a thing. Even if you or your staff are bored with it. Let it keep profiting until it stops profiting.

Next ask, “What do I want a marketing plan to do for me and my business.”

Many marketing plans are written as part of a business plan. Also, marketing plans are written when looking for new or more funding. Most marketing plans are created as a road map, a guide to the next 12-18 months of marketing campaigns

Now, “What is your Unique Selling Proposition (USP)?” Answer in a compelling way, why anyone would choose your products, services or ideas over all the other choices they have, including doing nothing.

Of course, you are making and “Irresistible Offer” every time you are in front of someone. Business and marketing are all about offers. You give me this and I’ll give you that. Keep in mind that without an offer, no business transpires. Think of the many times you have seen an advertisement or marketing message and couldn’t figure out what was being offered. Don’t make this critical mistake. State exactly what you will be offering in your marketing plan.

OK, “Where is your ideal future client or customer?” Not just anyone, but who is the ideal lead to generate for your products, services or ideas. Where can you find enough of your ideal future clients to be profitable? When you do find them, how much do you know about their hopes, aspirations, desires, fears, problems, etc? Take off your shoes and walk in your future clients shoes for a week and see, hear and feel what they see, hear and feel. Then and only then, will you know their real problems.

I’m sure you’ve decided on which, if any, of the many of the different “marketing media options you’ll want to test.” Options like direct response mailing campaigns, yellow page ads or email marketing. How about tele-marketing, newspaper display ads or Webinars? Networking, Social media marketing or pay-per-click marketing? We could go on and on and on, but you get the idea. Where are you going to spend your marketing budget

Finally, as long as you are going after new clients, “How are you capturing their personal information?” I don’t mean their shoe size, waist size or height (but you may need them depending on what you are selling). Are you asking for their name, email address and snail mail address? If not, how will you communicate with them in the future?

Now grab a piece of paper and start answering these questions.Doing so will focus your marketing plan and anyone reading it will know exactly the what, where, when, who and how you are planning to market your business.

OK, I admit it; there are more than 7 questions to answer. You should have seen the ones I edited out. I’ve saved them for another article in the near future, so keep checking back.

Marketing Plan for Your Business Success

A quote that I use on a regular basis is “If you fail to plan, you are planning to fail” by Benjamin Franklin. In business, the most important plans to have are a business plan and a marketing plan. Today we will discuss the marketing plan. The marketing plan shows the direction of all marketing and advertising efforts. Remember, marketing is the total efforts of getting together buyers and sellers, whereas advertising is the types of communication used in marketing. Advertising includes TV, radio, online, print, and other mediums. Let’s go over some important parts of the marketing plan that will help your business succeed.

Situation Analysis – This is the current state of your business. It is where the question of why you are in business is answered. What products do you offer? What problem are you trying to solve? Also, how is your business different than others? The situation analysis is a look at the inner-workings of your business to identify product and service offerings, differences, and the main reason why you exist. Business owners can build a firm foundation for their mission and vision statement with this information and are better able to communicate their value to customers.

External Environment -The next part of the marketing plan is the external environment. What is going on outside of your business? Business owners should take a look at what is going on in the external environment or industry. Are other businesses in your industry succeeding or closing shop? Is the industry in a growth or declining phase? Could there be threats that could jeopardize your business operations? Industry information can be found online at http://www.sba.gov.

Target Market – Based on research, the target market section defines the ideal customers for your business. Who and where are your ideal customers? It defines income, gender, and level of education for your target market. When defining your target market, business owners should look at census, demographics, and other secondary information. A clearly defined target market enables business owners to better use resources to obtain new customers.

Advertising Mediums – There are many options available in advertising mediums. For example, TV, print, billboards, email, flyers, social media, and radio are some common mediums. Business owners should consider different advertising mediums to reach their target market. If your target market has high usages of the Internet, then use online advertising mediums. Take into account your marketing budget as well when choosing mediums.

Marketing Budget – The marketing budget explains how business owners will pay for marketing efforts. A marketing budget should be based on a percentage of gross sales, advertising mediums utilized, and other factors. Some marketing expenses to include in the marketing budget are tradeshows, events, and sponsorships.

The marketing plan is an important part of growing a successful business. Essentially, you are planning how customers get to know your business. A marketing plan doesn’t have to be 20 pages long to help your business grow. I have found some that are one page long that are just as effective. Click the link to download one or both one page marketing plans http://smallbiztrends.com/2008/06/one-page-marketing-plan.html.