Marketing Tips for Real Estate Success, Part 1
We talked last week with marketing expert, Gordon Platt, of Gotham Media. Read Gordon's thoughts and actionable suggestions on how you can level up your commercial real estate marketing game.
Last week, QuantumListing conducted a webinar on Marketing Tips for Real Estate Success with Gordon Platt, the founder and CEO of Gotham Media, a marketing and content production company. Gordon started his career as a lawyer, and then went on to become a television producer at ABC news before starting his own production company, Gotham Media, which has evolved into an events company mostly centered on technology and media, where they specialize in marketing and advertising.
What is marketing?
According to Platt, marketing is the process of getting customers to tell people about your services or products and enticing them to either hire you or buy your products.
The difference between marketing and PR is that marketing is the direct process of getting people to hire you, while PR requires arrangements for media coverage, for example, getting other people to write about you. Marketing and PR are growing together, but PR is less important these days because you can now produce your own content and write about yourself.
Even if you have good marketing, you still need a sales department.
There is overlap between the sales and marketing, but often you need a sales team to close the deal and talk to potential clients one-on-one. Marketers generate a large quantity of leads and then bring them to the funnel so that the sales team can convert the lead to a sale.
Marketing can help brokers too.
The challenge is to distinguish yourselves from the competition and show that you personally add value to what the prospective customer is looking for. You need to create that difference and express it to the marketplace. Then, the key is to figure out your strategy, what channels to use, and then reach people most cost effectively and efficiently.
Online marketing vs offline marketing.
If you are just starting on your marketing initiative, Gordon suggests, “do everything and figure out what works.” One common mistake often seen is business owners think that marketing is optional and they should just do it when they have the time. Marketing helps keep a full pipeline at all times so you don’t have sales peaks and troughs. This will create a more constant flow of business. Marketing should always be an integral part of your business.
Successful Email Blasts: Actionable Tips
One of the easiest ways to market is through emails. But should we even bother with mass emails? Gordon explains to us that while mass emails are sometimes necessary, to make them more effective, it’s best to have as much personalization as possible, even if this takes longer. Check out his tips below!
- Check the open rate: On average, these rates are about 13%. Keep in mind, some filters will stop emails from coming through CRMs and tag them as spam.
- Avoid being marked as spam: send an email out to every single person on the list. This is time consuming, but it’s always best to personalize.
HINT: Hubspot is helpful with this customization
- Be aware of CAN-SPAM ACT: if it’s advertising, make sure it’s marked somewhere that this is a commercial announcement and they can unsubscribe.
- Subject lines should be eye-catching: have some sizzle, this is your one opportunity to capture their attention so they open your email. For some great examples of subject lines, check out MorningBrew, and theSkimm. Gordon also recommends you put someone’s first name in the subject line and write something personal to them so it feels less like a mass email.
- Better times of day or week to send emails?
Don’t send blasts on Friday afternoon. Gordon suggests sometimes going contrary to popular wisdom, which suggests you avoid weekends and nights. But, maybe clients are getting too many emails during business hours. When Gordon has experimented with weekends, it’s gone really well.
Comment below to let us know when you think it’s best to send out emails. If you try something new, let us know the results!
HINT: Some services with artificial intelligence actually can send emails based on user’s history of open rates and when they open your emails. Robly does this. Also, if an email is unopened after 2 days, the service sends it again. You definitely get a higher open rate with the second email.