a la mode news & marketing tips — November 10, 2005

Three marketing mistakes agents make — and how to correct them

"Every year, more money is spent on advertising research than medical research."  

That's what Australian real estate marketing guru Julie Ryan told her standing room-only session "Fire Up Your Marketing" at last month's National Association of REALTORS® (NAR) Conference and Expo.  As real estate agents, you're constantly trying to get into the heads of your prospects to learn what will prompt them to contact you instead of your competition.  Unfortunately, as Ryan explained, there are several common mistakes made in the process.

Here are three of the most common mistakes Ryan said agents make in their marketing efforts:

Trying to be all things to all people.  Every agent wants to be known as the expert in their area and they often promote themselves as just that in their marketing.  The problem?  So is every other agent in their area.

Instead of marketing yourself to everyone in your community, Ryan suggested developing multiple lines or niches in your business and sending marketing to the prospects that would fit that niche best.  For example, send out a separate marketing piece to prospective condo buyers, first home buyers, and waterfront properties.  This way, you differentiate yourself from the other agents who are marketing in your area because prospects will identify you as the agent who specializes in the  type of home they're interested in.

Sending out marketing too frequently - or not frequently enough.  According to Ryan, agents who send out marketing too often cause what she refers to as the "Wallpaper Effect."  This happens when the recipients of your marketing will become so used to receiving something from you that it's no longer effective. And while monthly campaigns are effective for keeping in touch with past clients, they're useless for new prospects. Why?  Ryan says it's due to the innate human characteristic we all have:  Every three weeks we tend to forget everything that isn't absolutely important to us.

So how often should you send out your marketing?  "If you haven't sent something at least three times in three weeks to your new prospects, you're wasting your money," she told attendees at her session.  That way, your prospects have the opportunity to go through three very important stages in brand recognition:  Curiosity ("Who is this postcard from? What do they want?"); Recognition ("It's another postcard from that real estate agent."); and Remembering ("Oh, That's from the real estate agent who specializes in vacation homes.").  That doesn't mean you should send out marketing every week; rather, Ryan suggests sending out a postcard or e-mail once a week for three weeks and then stopping for a month, and so on.

Inconsistency.  Many agents make the mistake of being too inconsistent with the frequency they send out their marketing, or the medium in which they send it (e.g. e-mail, postcard).  The result?  Your prospects won't make the connection that you are the one sending them the marketing piece.

If you send out a newsletter or report to past clients, make sure it's sent on the same day every week or month, so your prospects will learn to expect it.  If you have a logo, motto or other recognizable characteristic of you or your company, make sure it appears on every piece of marketing that you send out.

XSites, Porsche Boxster wow REALTORS® at NAR conference

"That's it — just one annual fee?  There are no monthly fees?"

"I get 24/7 tech support and real people answer the phone?  And you don't outsource it overseas?"

"So this will continue to send e-mails to my past clients for as long as I want?"

"You're really giving away this car?  This exact car?"

Those are just some of the commonly asked questions that could be heard in and around our booth at the 2005 NAR Conference and Expo.  More than 4,500 REALTORS® entered to win the 2006 Porsche Boxster convertible parked in the middle of our booth by dropping their business card into it.

Besides admiring the sleek car, many REALTORS® stopped by to learn more about XSites and XSellerate and just what it is about our company that's made us a leader in real estate technology for the past 20 years.

They may have come to see the car, but they stayed to learn how XSites and XSellerate help them win more business.

"This year in particular, we were often asked how we could offer our products at such a low price, and continuously release new features without charging extra.  The answer is simple:  We don't have to charge a lot.  That's part of the advantage of choosing a la mode," explains Rusty Lindquist, our Vice President of Agent Products.  "We've been developing world-class solutions and making them available to real estate professionals like you for 20 years.  During that time, we've built a technology core that's been proven, time and again, and allows us to focus on innovation and providing our clients the most advanced tools and technology available."

We were also asked why we chose to give away such posh car. "That's easy," says Lindquist.  "We think our XSites have a lot in common with the Porsche.  Both are built to deliver a powerful image and unmatched performance.  It just wouldn't be as impressive if we were giving away a nice, economy sedan."

If you didn't get a chance to stop by the booth at NAR, don't worry — you're already entered in the Porsche giveaway. The drawing will be held November 11 and we'll announce the winner soon after that.  Good luck!