Business Marketing Advice
Marketing a Real Estate Investments Business
Promotional tactics for real estate investments businesses are exceptionally diverse. But in our experience, there are a handful of tips and strategies that will deliver the best return for your marketing efforts.
If you're hoping to leverage marketing to give your real estate investments business a competitive advantage you're not alone.
Purpose in marketing is the key to success in this space. High-performing real estate investments businesses achieve market dominance through the careful execution of deliberate strategies. The inclusion of innovative tactics and techniques is important, but the consistent application of sound marketing principles may be the most important factor in raising your brand's visibility with buyers.
Improving Customer Loyalty
You've heard that it's less expensive to retain a current customer than it is to acquire a new one, right? For real estate investments businesses, premium mailing lists from list providers can help expand your customer base. But as your customer base grows, you'll also need to develop programs that reward customer loyalty. Get it right and each new customer will represent a step forward in your company's growth; blow it and you'll end up struggling to acquire new customers just to maintain a breakeven revenue position.
Staffing Expertise
An effective marketing strategy meticulously delegates tasks to capable stakeholders. For many business owners, in-house staffing is attractive because it can (theoretically) be performed by current employees and can give the owner more control over the process. There are numerous reasons why real estate investments businesses enlist the assistance of external marketing professionals. A high quality marketing firm can deliver a much better ROI than internal stakeholders who aren't primarily focused on marketing functions.
Loss Leaders
Smart real estate investments businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. When applied skillfully, a loss leader marketing strategy can lead to overall gains in revenue. But to be effective, loss leader marketing requires planning, especially in product selection and price points. For real estate investments businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Also, it's important to carefully consider the quantity of discounted products you are willing to offer at the loss leader price since stockpiling or a high volume of loss leader sales can negate the revenue benefits of this strategy.
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