Let’s call it what it is … we’re in an economic recession, with real estate market trends an obvious reflection of the larger problem. The image below shows the trend of the search term – recession. Note the search spikes in 2008, clearly this is what is on consumers’ minds.
So what should you expect in terms of marketing during a real estate recession? The obvious would be a lower lead volume, and probably marketing budget cuts.
Honestly, I’m not here to put a damper on your day. No, in fact there is hope.
So, your budget has been cut for marketing. Now what? Standard outbound marketing media like newsletters, paper or TV ads etc are without a doubt too costly for this economy and offer diminishing ROI. Don’t get me wrong, they do offer some return but at a higher cost.
Here’s the glimmer, ready … switch to online marketing. “But I have a limited budget!” you say. The good news is that most online marketing strategies out there cost a lot less than your standard/outbound marketing strategies. This shift will boost your ROI.
For starters, let’s talk about your trusted Real Estate Blog, Real Estate SEO, and the use of social media networks. We’ve already covered the basics of your Real Estate Blog, as well as some Real Estate SEO fundamentals … and we will go into the need for social media in an upcoming post … so stay tuned.
During tough times it’s important to rethink your strategies. Inbound marketing offers all of the opportunities you are looking for. While search engine marketing is always a good choice, it’s even more relevant now. It brings people to you rather than having you chase leads as you often do with outbound marketing and sales. SEO promises to bring in more qualified leads. It will be up to you to engage those that are interested and close the deal.