In real estate, marketing counts

It’s common knowledge in business that one of the first things to be cut in times of economic strife is the marketing budget, much to the dismay of marketing managers everywhere, including in the real estate game, and on occasion here at Century 21. When the GFC hit last year and then continued into this year, media outlets everywhere reported downturns in advertising spends and brands that had been shouting their story from the rooftops were suddenly much more quiet. But the eternal question remains, when things get tough, should you really become silent on the marketing front?

  

It’s a tough question to answer, because in real estate like other businesses, when times get tough it’s a matter of how much money you actually have to spend, and if it comes down to paying your receptionist or continuing to advertise on that massive billboard over the freeway, most people put staff costs first. But the funny thing is, marketing real estate doesn’t have to be an expensive exercise and you can have a large, and growing, presence through very low cost means. Think blogging for example – the number of people turning to the internet for property information has skyrocketed. Similarly social media is becoming a more frequently used avenue for people wanting to interact with a company before they decide to buy, or in the case of much real estate, sell. It can be time consuming, but then so can checking copywriting for branding ads and liaising with ad agencies.

Although it can be the easier decision to tighten the purse strings when it comes to your marketing in tough times, there’s a saying I read recently which drives home the need to maintain a presence in the market no matter how difficult things get - A Business Without a Sign is a Sign of No Business! 

Posted by Charles Tarbey on 03/09/2009 at 9:10 AM | Categories:

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