Real Estate Marketing Drips

Yesterday I posted, "Tough Love Talk: If It's Broke, It's Time to Fix It".

I dished about using effective marketing tools and dropping ineffective marketing tools.

I received this comment from Jeremy Williams,

"...You have to play red light green light with your marketing dollars. Going with your gut is a good route, but even better would be to follow through with asking others about their experiences with particular marketing channels. AR is a great site for doing just this..."

My response,

"Jeremy- Feedback is good if you are getting feedback from viable sources and are clearly identifying your goals and needs. A clear perspective, unbiast, is best."

Jeremy's comment was stellar.  My response?  On a scale of 1-10 I think I would give it a 4.  Good advice is priceless and bad advice is a business buster.  Let's address this right now.

A real world example to add some perspective to my initial, ineffective comment from a consumer view.

I have been going to WalMart Vision for the past 3 years.  Why?  I don't have vision insurance and WalMart is a cheap and effective alternative.  Last year it was a cheap and ineffective alternative for me.  

Here's why.

One size doesn't fit all options.  I have a high prescription- I am "legally blind" without contacts or glasses:-)  I wanted to be a diva and have the colored contacts, but WalMart had slim choices for me in my high prescription, they just don't carry the inventory in a high prescription- Strike one for me.

Second opinion- I didn't get one.  I ordered glasses from WalMart.  They had me get the thinnest lens because my prescription is high and the lens are coke bottle thick unless I got the most expensive lens.  That part proved true.  When I received my glasses, though, they were thicker than what I was shown.  When I asked why the lens was thicker, it was a blank kind of stare and a "That's the best that can be done" comment.- Strike two for me.

Guarantee problem- I didn't do my  homework.  I had a warranty with my glasses, and wouldn't you know it, the arm broke.  It was very thin and my 3 year old got hold of them because I left them out.  But the warranty didn't cover avoidable damage, so I was out, $300.  Strike three for me.

Now could the service have been better and the disclosure greater?  Sure.  See that would be easy for me to leave it at that and say they suck and move on...but on a self-assessment, I as a consumer could have:

1. Explored my options more thoroughly, comparing price and services for a true assessment of the cost to me.
2. Waited and done a little bit of research before jumping into my purchase instead of looking and leaping.
3. Read my warranty.You see, I was the batter.  I was at the home plate.  I stepped up willingly with the bat in my hand.  I chose to swing.

The three strikes- I made them on my own.

How would advice fit into my scenario?

Impartial Party- I could have gone to one.  My boyfriend uses WalMart Vision and he has no problems.  His prescription is low, so his choices are vast.   But because his prescription is low, even though he is an impartial party his advice wouldn't be helpful in this situation. 

His experience was bound to be different because our needs are different.

Professional Second Opinion- It would have been good to get a professional second opinion.  A third and a fourth too.  Getting a professional second opinion would have involved going to a competitor of WalMart Vision.

A competitors opinions couldn't be impartial because the competitor(s) of WalMart Vision would be competing for my business.

The best option would have been for me to have a clear understanding of my needs before going into the purchase.  The best feedback would have been for me to call my girlfriend who has the same prescription as I do and ask her who she uses and why

I also could have gotten the advice of a generalist (like a family doctor) who could give me referrals of a few optometrists without self-interest being a benefit, other than the self-interest of giving good advice.

Translation to real estate- Business evaluation + marketing plan + good advice= Healthy business that hits a homerun.

Advice can hurt or heal your business.  Take the time for a check-up.

Money, Money, everyone wants you to spend your money.  Everywhere a real estate professional turns, there's another company sprouting up to help you turn your hard earned dollars against you.

Yes, I said against you, because throwing good money after bad will tank your business.  Conversely, investing money in good products will help save your business.

How do you know what's good and what's bad?  A gut  check will usually tell you all you need to know.  Sometimes it's not so easy to follow your gut.  You may have invested a lot of time and money in some unproductive products throughout the years and the sales "spin"is clouding your judgement.

The road to real estate marketing hell is paved with unrealistic promises, undeliverables, and misleading intentions.

Instead of dumping your money back into the pit, recycle your dollars and get some marketing bang for your bucks.

Problem:  How do you find money to be able to save and invest in products that will increase your business?

Solution:  Use the top 6 places to cut marketing expenses.  Just Do It.

Top 6 Places to Cut Marketing Expenses

• Stop paying to have your listing information online. You should advertise your listings on your website. Most Multiple Listing Services offer syndication for your listings. You can also syndicate for free or very little expense.
• Stop spending time on administrative chores. Pay a virtual assistant to do administrative tasks so you can be listing and selling.  Know what your worth and don't do tasks that cost you more money than your rate of pay.  End the insanity today and outsource.
• Stop working with a company that touts empty promises. If the company you are working with right now isn't engaged in Web 2.0, social media or has been promising upgrades for more than a year but they haven't come, drop that company.
• Stop working with marketing companies that are invisible. If the company can't be found on simple Google searches, you need to drop that company.
• Stop working with brand stealers. Only work with companies that are looking to first promote your brand above theirs.

• Stop working with devalued real estate. If the company doesn't provide a strong value to the consumer, drop it.

Save your money, reinvest your money.  Grow your business and prosper.