PROView - April 2008 - (Page 18) (Integrated Marketing continued from page 18) earned dollars? I am often contacted by vendors who eagerly offer great rates on advertising or placement in coupon books. Price, however, shouldn’t be the determining factor, at least not at first. My recommendation is to set an annual marketing budget based on what you can afford rather than what certain ads or promotional opportunities may cost. Factor in the cost for your website, lead generating efforts, and any other related expenses. First, look at your audience and decide which marketing vehicle would provide the highest likelihood of reaching your target group. A newsletter reaching consumers within a certain zip code, or group of zip codes, may not be efficient if your target group mainly resides in a smaller section of that area. Next, assess the quality of the publication you are considering. If you serve the high-end market, an ad in a neighborhood coupon book printed in black and white may not only lead to a lack of responses but worse, an inaccurate perception of the kind of market you serve and the quality you provide. Conversely, though, if you serve the high-end market and you advertise in an exclusive glossy magazine you may help build your brand and image within your target group. Next, decide the frequency you likely would need in order to reach the impact you want. Make sure you have a mix of marketing methods executed simultaneously to make sure there’s something for your audience to see at all times. Taking the concept of a true marketing mix a bit further, Consider coordinating all your efforts by the calendar. By developing a timeline of the various activities you will engage in, you can make sure to cover each month with marketing outreach rather than centering all your efforts on one month. Continuing my conversation with Malowany, we touched on the importance of viewing advertising as a long-term commitment rather than a short-term campaign. “Continuous advertisement of your name, brand, and your listings, is a reinvestment in your business,” he said. “It’s important to continue your efforts consistently and not stop just because of a down market. In fact, that’s the time to increase your commitment to marketing.” It goes without saying, though, he said, that the extent and frequency of advertising often is dictated by a checkbook. Malowany says he chooses a selection of publications on a national, regional and local level in order to reach his target audience. “While you want to attract those from out-of-state considering a move to Florida’s west coast, you also need to create a repetitive presence in your own backyard.” April 2008 18 The Final Link of Integrated Marketing – Your Immediate Response The desired result of all your marketing efforts is to receive responses and the expectation is that you will be available immediately. No matter how many publications you are in and how much brand awareness you may have built – if you don’t prepare yourself to properly handle inquiries from prospective clients, all your efforts may have been wasted. Several years ago the common rule was to return emails within 24 hours, but those days are long gone. Now the expectation is that you will return emails and phone calls immediately. How quickly are you able to respond to internet leads, and are phone calls returned immediately? Customers expect immediate response and if they do not receive it, they will likely go elsewhere. I spoke with Tami Simms-Powel of the Simms Team at RE/MAX Metro in downtown St. Petersburg who stressed the importance of serving clients by always being available. “If you’re not able to respond to an internet lead or inquiry about one of your listings in less than 30 minutes you are not giving professional service to your clients.” That brings us to another very important factor in your day-to-day business operation: a mechanism to handle calls and emails. Sharon Simms, Simms-Powel’s mother and business partner, agreed: “You can be available wherever you are by using your PDA or any similar device you may have. My iPhone has enabled me to be accessible in ways I previously wasn’t,” she said. “All email leads come directly to my phone and I can either call, text message or email clients and prospects instantly.” There is definitely a need for such use of new technologies as there is little doubt that consumer preferences are changing. They are becoming more research-savvy, wanting to take on a bigger role in the search for their homes - even participate more in the transaction. Consumers want to be kept informed at all times about new listings, prices changes in the neighborhood, or simply about what is happening in their marketplace. How do you best respond to such an increased demand of your time? A good start is to take a look at new available technologies that may help you. PINELLAS REALTOR® ORGANIZATION
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