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RES 235 Real Estate
Sales and Marketing Introduction
Fall 2013 – Presented by: Nancy Adelson, GRIContent from Fundamentals of Marketing for the Real Estate Professional by: Doris Barrel and Mark Nash
As the Cheshire Cat once told Alice, “If you don’t know where you are going, any road will take you there"
If you know your goals/ where you want to go, use a road map to get there.
In marketing, that road map is a well-thought-out plan.
Set your goals, write your mission statement, research/complete SWOT Analysis and determine what actions you must take
This becomes your marketing plan and your road to success
The 4 Ps of Marketing
Product: What you’re selling; property, service, idea, person
Price: The property list price, your commission/fees
Placement: The where, when and how the service or property is presented
Promotion: The advertising, publicity, public relations, sales, etc. designed to inform/ persuade consumers about your product or service
Developing a Marketing Plan
It is part of a business plan which specifically covers your market, target market research and your marketing strategies
Four steps – Doing the research Developing the plan Implementing the plan Evaluating the results
Doing the Research Find a need and fill it!
Look at your target market/potential customers Demographics information Psychographic information
Look at yourself/business – What are my special skills? What specific education do I have that
makes me an expert on a particular area? What is it about me that would make
people want to work with me? What are the benefits the client will
receive by working with me? Complete a SWOT Analysis for your
self/business and your product/service
Developing the Plan
Determine the Purpose or Mission
Establish the Goals to be set in order to achieve the purpose
Outline the Actions to be taken to accomplish the goals
List the Details involved in order to carry out each of the actions
Developing your Budget? $$$$$
Budget for 4 P’s down to Start up costs Transportation costs Printing cost – business
cards, brochures, direct mail Web-site and Software Promotions costs Customer appreciation and
follow up program
Your Purpose or Mission
The purpose for a marketing plan for self-promotion is to make your name known within your marketplace
Bring what you are selling to the attention of the public
Getting your name out there!
Developing the Plan Actions –
Must be taken to achieve the goal or goals
Each goal should have at least three or four specific actions listed that are directly related to making that particular goal work
Actions Cost Deadline Person responsible
Place ad in the local Homes Magazine
$75.00 Wednesday Me
The Devil is in the Details
Action – Place ad in the local Homes Magazine
Details – Take picture for ad Write the ad and have
reviewed Submit ad to run on
Thursday and Saturday Prepare tracking sheet to
collect responses
Implementing the Plan
WORK YOUR PLAN A marketing plan must be
flexible, adapt to changing or evolving circumstances
Track results as well as actions
Evaluating the Results
Evaluation is critical in determine the cost effectiveness of each element of the marketing plan
Consider using a tracking system
The effectiveness of each marketing activity should be measured by the amount of resulting business and also the benefit of establishing name recognition within the community
Marketing Tools and Techniques
People process information they receive –
Visual-Auditory-Kinesthetic Which are you?
When you purchased your new [whatever] and tried to hook it up, did you:
Carefully read the instruction booklet? [Visual – read]
Call up your electronic whiz friend and ask him/her to talk you through it? [Auditory – call]
Just start plugging in connections and then wait to see what happens next? [kinesthetic – start plugging in]
V-A-K Communication GENERIC VISUAL AUDITORY KINESTHETIC
I really like this house
I can just see myself living here
Sounds like this is the right place
You know, this just feels like our house
I understand what you said
I see your point
I hear what you are saying
I’m in touch with what you are saying
This job can be done quickly
The job will be done in a flash
Just a snap or the fingers, and its done
With a hop, skip and a jump, the job is done
The settlement statement is correct
I know beyond a shadow of a doubt that it is correct
The statement is accurate word for word
The information given here is as solid as a rock
I am not sure about that
That is pretty hazy to me
That doesn’t really ring a bell
I am not sure I follow you
This house has a brick fireplace with a raised hearth
Picture your family gathered around this beautiful hearth
Hear the snapping wood and the corn popping
Feel the warmth radiate out in the room
V-A-K Words and Phrases VISUAL AUDITORY KINESTHETIC Beyond a shadow of a doubt Clear as a bell Chip off the old block
Describe Discuss Demonstrate
Get an eyeful Entertain me Get a handle on
Get a perspective Give me your ear Get a load of this
Gleam in the eye Hardly a peep Be in touch with
Hazy idea Heard voices Gut feeling
Imagine that Hold your tongue Draw a picture
In view of Listen in Heated argument
Looks like Loud and clear Illustrate
Like a photo Power of speech Tasty
Mental image Manner of speaking Hot seat
Mind’s eye Outspoken Lay hands on
Map out Pay attention to Intuition
Paint a picture Rings a bell Point out
Pretty as a picture Purrs like a kitten Feels just right
Things a Good Ad Does -
Stops the reader from turning the page Works like a good salesperson by telling potential
customers what a product will do for them Builds on a concept or idea. A reader must instantly
recognize the concept being communicated Sells a product’s benefits rather than its features.
People buy based on what the product will do for them, not what ingredients it has
Promoted the name of the company while visually creating an image for the firm
Speaks to a specific group Provides all the facts a reader needs without
providing to many Conveys it message simply. It is believable and
honest Is supported by good company management and
good customer service Remembers who the customer is and what would
make that customer buy Is news. Readers say advertising is as important to
them as other content Sells answers to consumers’ current needs.
Advertising sells to people’s wants, not just needs
Your greatest asset – YOU!
Your person-to person sphere of influence – becomes your project 200
More effective than any type of cold-calling or general mailing
Groupings A Group – people who actively
promote business for you B Group – those who will bring up
your name whenever they hear someone mention that they are thinking about buying, selling or leasing
C Group – those who will give your name if someone asks them directly for a recommendation
Making Contact
Make regular contact, preferably four times per year
Ask for their opinion on… Give them valuable
information Build your Board of
Directors Networking Groups
Image does Matter
If you want to establish a clear image in the minds of your sphere of influence, you must first be able to see that image in your own mind
Know your natural market and then visualize your image
Stay in tune with your customer Branding and the company you
keep Remember, High Level
Professionalism is a must