25 Mar Why Traditional Marketing Strategies Alone Won’t Cut It
According to an AdWeek.com article, 80% of CEOs think that they have successfully differentiated their product from competitors. The funny thing is that only 8% of polled consumers agree with the CEOs and their overly optimistic outlook.
Over the past 10 years, some in the housing industry have gotten away with lackluster marketing. When the industry was booming, Realtors and builders didn’t need to focus on marketing nearly as much as they do now.
The recession and the obliteration of the housing market have changed the game forever. I love hearing stories about real estate marketers rising to the occasion of hard times and identifying what is important. These are the companies that have jumped ahead of the curve and have truly distinguished themselves from the rest of the field. It’s not imaginary – it’s real.
Successful real estate marketing during the recession has laid the blueprint for what will work in the future. The AdWeek article says it best; “Mediocrity is getting extinguished with increasing speed via social networks.
We can’t afford to halfway execute our marketing plans. Consumers are adapting to new forms of communication and it’s critical that we are a part of it. Perceived value is important, but real value is even more important. Our marketing efforts should become the product and vice versa.
What you sell should be enough for consumers as long as your product actually contains some sort of value. This isn’t a call to ignore the generation of perceived value; it is a challenge to the way we think.
The next decade will see many changes when it comes to real estate marketing. Buying real estate is an intimate decision. It will be interesting to see how marketers tackle this.
We may be coming out of a recession, but don’t think for a second that traditional marketing strategies and ideas aren’t going to cut it.