6 Unorthodox Ways to Become a Market Shaker
Just when you thought you could put your wallet or purse away…
Last Wednesday the wireless carrier Verizon released three new phones, including a high-end set that is expected to compete with the iPhone this Christmas. Verizon’s high end phone is called the Voyager.
Among the perks the Voyager offers:
Verizon Wireless hopes the new phone will attract customers put off by the iPhone’s lack of a traditional keypad — the Voyager hinges open to reveal a small computer keypad and a second screen.
There’s a case for those who currently subscribe to Verizon to give the Voyager a close look. The bigger question I think is whether it will actually be the iPhone killer Verizon thinks the Voyager is.
I doubt it.
Verizon is only making an improvement on the iPhone. So the Voyager is not a disruptive technology that will challenge the status quo or overturn the market or even sway iPhone users.
However, I think Verizon had to do it in order to stay competitive and hold onto it’s current client base.
How Disruptive Technology Applies to You
Here’s something to think about: what can you, as a real estate agent, do that would challenge the status quo, overturn your market or even persuade a competitor’s client to work with you?
We can’t deny it: we are in a cooling market. And some of you are starting to feel the pain. The thing about pain is it’s designed to be a warning signal, a wake up call. A time for you to start evaluating what you are doing.
Up to this point your ways of working may have been successful. But think about this: out of the 43 businesses that were showcased in the book In Search of Excellence 14 were out of business in two years. BusinessWeek then studied these 14 failed companies…and do you know what they found out?
“Failure to change” was the main theme for going out of business with these companies.
What does that say to you?
Are you in a position to change? To challenge the status quo? To shake up your market and be a trend setter instead of a passive causality?
6 Unorthodox Ways to Become a Market Shaker
Forget widely accepted principles such as blind optimism and arrogant self-promotion. Instead, break out of the box by asking yourself these unconventional questions that will lead you down a different, unused, but highly prosperous, path to success.
- What worse case scenario could happen, that seems impossible, but if it did happen, what would I do?
- What alternatives to marketing, technology, industry, prospecting, organization are out there…alternatives people are not thinking about?
- What pain are my client’s and prospects GOING to experience in the near future? And how can I provide a solution to that pain?
- What am I personally doing in my business or life that if I don’t change now could provide significant pain in the near future?
- What did other companies do during a recession or sagging growth to survive? How did they change? How did they adapt?
- Finally, what rules can I break? What rules can I rewrite?
The best performers in any industry are the agitators, the pioneers, the rule breakers and the game-changers.
In essence, it’s about staying fresh. So ask your self theses questions. Forecast the future. The ability to peer around corners will pay off big for you.
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Link Happy, SEO Real Estate Style
Over the last several months I’ve been putting together some links to build upon a previous real estate SEO post.
If you’ve got a website and want to drive traffic to it using search engine optimization, then read on.
According to Brian: what you need to know about real estate search engine marketing, part 1. And part 2.
Real Estate SEO on a Budget, via Jim Kimmons.
10 part introduction to search engine optimization.
A little more techy: 5 reasons to be big and popular, not small and niche.
Interested in Google AdWords? Download and listen to one of the best introductions to this advertising medium. Jonathan Mizel interviews legendary AdWords man, Perry Marshall. 56 minutes.
Interview with Andrew Goodman, the guy who wrote the best-selling report on Pay-Per-Click advertising. Top tips to write effective Google text ads.
What you need to know about polite and naughty SEO tricks.
And finally, let me ask you this: do you do search engine optimization? Do you do it yourself? Or do you pay some one else? Has it been helpful? And for fun, do you have any ranking nightmares about competition that just won’t budge? If you do, share! I’d love to hear it.
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3 Classic Reports on Real Estate Marketing
Last Friday THE LATEST NIELSEN COMPANY REPORT confirms what other research companies have revealed–advertising spending is in a weakened state.
On the losing end were some long-suffering print categories: Local newspapers were down 8%; national newspapers fell 5.9%; business-to-business magazines were off 5.7%; local magazines tumbled 5.2%; and local Sunday supplements gave away 4.7%.
I know a lot of you still have plans on spending advertising dollars on traditional media. Some even plan to spend more. With that in mind, I thought I’d share 3 classic articles I wrote on the fundamentals of advertising and marketing.
Exploit Your Cutting Edge “Secret Weapon
Make Your Newspaper Ads 750% More Profitable
These date back almost ten years. But still relevant. Or are they? You tell me.
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How Would You Answer This Question?
Okay, something a little different today. In as many words as you need, answer this question:
Over my 25 years in sales the single biggest thing I’ve always struggled with is cold prospecting. I’ve always hated it with a passion. And how many potentially good real estate agents punish themselves and die a slow miserable sales death because they can’t get themselves to do it? In Feb. 95′ I came across what I now do: a way to generate hundreds of warm inbound leads without cold calling. I thought: can it really be this easy? I have to share this. And have been at it for the last 12 years.
I limited myself to 100 or less words, but you don’t have to. I set that limitation because I didn’t want this to be about me. I wanted it to be about your story.
I’m looking forward to hearing from you!
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Monday Social Marketing Mashup: Facebook
In the following weeks I’m going to zero in on some of the Web 2.0 technology for real estate agents. Each post will aggregate all of the favorite links out there on each application.
This week, Facebook.
The definitive post on Facebook and real estate: Marketing real estate on Facebook. Isn’t this the bottom line?
The future of real estate marketing through social networking is now. (via.)
Facebook could make or break real estate.Or Joel Burslem thinks.
If you haven’t heard yet: Facebook deliver authentic consumers, rather than faceless “uniques” and can do so in specific niches.
It was an exclusive in April of this year: Facebook may launch local classifieds.
Using Facebook as a Real Estate Collection Source. Another Burslem screed.
The web’s most comprehensive marketing and advertising engine for real estate professionals, Point2, creates Facebook real estate app.
Drew Meyers at Zwillow says you can add zestimates to Facebook.
Just for grins: Creepy discovery on Facebook.
In conclusion: hyper-targeted advertising is the holy grail of online advertising. Social networks like Facebook and social media can deliver that more accurately than a portal or destination site.
So, do you use Facebook? If so, is it all its cracked up to be? Or is it just trumped up hype by tech pundits and fringe agents?
Looking forward to hearing from you!
If you haven’t already, subscribe to the Real Estate Marketing Blog.
Mobile Real Estate Can Thank the iPhone
The title of this post is lifted directly from Joel Burlsem’s post. There’s good reason for that.
Lately I’ve been researching mobile advertising and mobile marketing for a different industry [fundraising] and came across Joel’s July 3 post. Joel makes a great point about the iPhone:
Realtors are going to love this thing. But more importantly, the average Joe is going to love this thing. And for that reason more than any other, the iPhone could be what really kickstarts mobile real estate.
The thing I want to bring up with Joel’s post is not that he is wrong…but that he is right. And that is part of the problem.
See, I’ve got into a number of recent discussionswith Realtors discussing the explosion of technology like smart phones, mobile videos and social media on the web. And invariably at some point the concern or worry that always seems to creep up is this: there is so much out there, how do I know what to use?
As one reader pointed out “It’s not enough to just sign up….you really have to participate [in social networks]…I think the concept of it all is truly fabulous, but honestly, I’m feeling quite overwhelmed!!”
Me too. And that brings me to my solution.
Your Real Estate Marketing Strategy
When discussing mobile marketing or vlogs or social networks like Facebook what you have to remember is that all of these things are tactics and campaigns that fit underneath the umbrella called your marketing strategy.
They are tools you use to help you reach your larger goals. They are not ends in themselves.
A carefully-planned real estate marketing strategy is your compass. It shows you where your true north is. It’s also part of a larger business plan, which, in the end, should drive all of your decisions. It is the big picture. The view from 30,000 feet.
Calculated v. Reckless Risk
In his book Failing Forward John Maxwell talks about the two kinds of risks: calculated and reckless.
Calculated risk plays to your strengths. Reckless plays to your weaknesses.
Calculated risk has a small room for error. Reckless has no room for error.
Calculated risk meets the needs of others. Reckless meets only your needs.
Calculated risk is built on a plan. Reckless is built on reaction.
The last example is the point I wanted to make.
According to Moore’s Law, it is more likely in the future that you are going to bombarded with even more technology and marketing ides than less.
And with so much out there for you to look at its easy to fall into a reckless state of reaction. You might find yourself throwing money in different directions. More importantly, you might find yourself [if you haven’t already] throwing your time in all different directions.
But you have to avoid that if you want to remain profitable. If you want to remain married. If you want to remain sane.
So, would you agree it’s even more important than ever to have a firm marketing plan in your pocket?
Count the Cost
Think about it: it may take you several days, even weeks, possibly fifty hours over the long haul, to knock out a solid real estate marketing plan.
Does that sound painful? Don’t have the time?
If you find that painful, look around you and ask yourself these questions: what’s most important to me, right now, in my business and my life?
How does this tool fit into my business plan? My marketing plan? My life?
What will it take away? What will it give in return?
Here’s what I know: invest more in less people. And less things. For those things that you isolate as most important to your business and life deserve your absolute best.
It’s all about returning back to the basics, folks.
While mobile real estate might thank the iPhone for it’s proliferation and while real estate networking might owe its success to social media, you will definitely thank your marketing plan for keeping you focused, profitable and sane.
6.5 Reasons Why You Shouldn’t Blog
In the past I’ve asked you the question “Should you start your own blog?” in the real estate blogosphere and even went as far as giving you a somewhat step-by-step process on how to go about getting started. I basically gave you reasons why you should blog.
Today, my approach is a little different.
Believe it or not, as popular as blogging is, and as powerful as the motivation is for joining the bandwagon, there are good reasons why you shouldn’t blog.
Here are 9:
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- You are not a very good writer. This is a tough one because you have to evaluate your own writing ability. And you have to be honest about it. But ask the hard question before you start to blog. If you can’t definitively say that you are among the most compelling writers in the real estate blogosphere, then you will be swallowed alive by the hordes of great blogs. Now, if you think you have the writing chops to become one of the best bloggers in real estate, then by all means, consider the next question.
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- Your point of view or voice is not compelling. A unique point of view requires creativity. And if you don’t have a creative bone in your body, your blog will bore everyone to tears. (I take that back: you won’t bore anyone to tears because you won’t have many, if any, readers.)You might be a great writer–a great technical writer–but that doesn’t translate well to a blog. Furthermore, no one is really interested in a well-articulated opinion that is mainstream, old or cliched.Part of being a good blogger requires you think about what is already being posted and figuring out how to oppose or improve or provide a unique angle on a subject that is already out there. (For instance, I originally started this post as “reasons why you SHOULD blog,” but during research noticed there were at least 10 REALLY good posts already out there. [I didn’t search past the first page.] I then asked my self: “What could I do differently?” Voila.)
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- Your ideas are not focused. Grow-a-brain is a hugely successful blog, partly because it has a wildly-wide range of subject it covers. But if you read it for at least you’ll notice one thing: Haran Levin has a clearly defined format. He keeps all of his content in the post tightly related.Some bloggers like Chris Garrett or Joel Burelsom are focused on their flagship content. As am I. Flagship content provides a true North on the compass. A direction, a focus. As a blogger, you should almost always steer in this direction. That also means you don’t treat your blog as a meandering diary or brain dump.
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- You do not have a wealth of experience readers can relate to. If you are eighteen, trust me, you do not know the inner workings of the world. However, just because you ‘ve been a truck driver for thirty-five years doesn’t mean you have a wealth of experience that resonates with people.
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- You plan on posting every other month. Or whenever you get to it. If you can’t commit to a schedule (and I highly recommend that in your initial planning you set down a schedule for blog posts and then stick to it), then don’t start.I placed this one further down the lists because it isn’t a deal killer. But don’t expect a high readership or community involvement. You can get away with random blog posts because most people who read blogs do so through a rss aggragetor. This means all they have to do is check their aggregator to see if any new feeds have come in. Once they are subscribed to your blog, they’ll probably remain subscribed. However, if you plan on posting far and few in between, you better post hard-hitting, well-planned posts. In email marketing, the rule of thumb is this: daily emails equal short, pithy messages. Weekly emails equal longer, informative messages. Monthly equals long, deeply-researched, valuable posts. You can post once a month, but you’ll have to make each one count. Otherwise people will just ignore you.
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- You plan on NOT allowing comments. Great blogging is about creating a feedback loop. In fact, that is what the whole trend of social media is all about. Creating a conversation, good or bad, with your readers. Observation has shown that places where the feedback loop is closed lose readership. People want to be part of the conversation. Besides, a lot of good bloggers base their content on questions asked by their readers. I’ve seen book agents do this. One good thing about this approach is that you don’t have to think about what you want to provide as content. The reader decides. And giving the reader the choice is all about what the web is becoming. If you plan on “not dealing” with comments, so be it. But don’t say I didn’t warn you.
So, am I wrong? Was this bad advice?
I’m pretty certain that it isn’t. This is stuff I’ve learned from watching the industry and talking to experts for two years. But you tell me. Am I missing something?
Now, I will say if after reading this you do not care if you get one lead or you do not care to add to your bottom line, then feel free to start a blog. I will not bother you. But since it is important to me to see you succeed, I simply thought I needed to share with you the other side of the coin. My point in doing so is that your decision needs to be well thought out.
Tip 6.5
You thought I forgot, didn’t you? Not at all.
Here’s the deal: choosing not to blog will not sink you financially. It will not starve you or make you disappear from your marketplace. Blogging is only one spoke in the wheel of marketing. You should be doing plenty of offline marketing. And plenty online, too. But that doesn’t mean you have to blog.
Now I do recommend you interact with blogs. Not only read them, but comment as well. This way you can build a presence in the blogosphere as an authority without having the headache of managing your own blog. And as long as you have a link back to your website with a clearly visible way to get a hold of you, you’ll generate buzz and hopefully leads. Leaving comments has great value. People will start tracking you down for information and answers.
+++ If you haven’t already, subscribe to the Real Estate Marketing Blog.
Nine Essential Tips for Effective Emails
Regardless of all the endless fun stuff that software coders seem to be churning out for the web–Google Earth, Talkr, Twitter, del.icio.us, Reddit–emails are still the workhorse of online prospecting.
Yet inboxes are growing more cluttered by the hour, and more and more people are checking their e-mail on cell phones or smart phones…that’s why it’s wise to keep grooming your emails so their readable and relevant.
- What’s your compelling reason to send the email? Is it urgent, interesting, funny, sad? Would you forward the message to a friend or family member? If there’s no good reason for it, consider taking the day off.
- Does it have an effective “From” line? The “From” line and subject line work in tandem. And an effective “From” line starts with name recognition.
- Does it have an effective subject line? Something that stands out in their inbox. Use this tool to test your subject lines AND “From” lines.
- Does it make the point in the first vertical inch or two? Many people won’t see images—your header, wrapper, or photos—because their e-mail software turns them off. Or they may be getting your message on a BlackBerry or Treo or cell phone.
- Is it easy to scan the message (since very few people read it all the way through)? Can recipients get the idea at a glance?
- Does the headline make the offer? Does the first or second paragraph make the point and provide a link for action? Is the call to action simple and clear, making a single point and with no more than a sentence or two at the most?
- Is it as short as possible? Edit out the useless words and clichés that just slow down reading or turn people off.
- Does the call to action feel compelling? Will somebody abandon what he is doing and take action now? Will the person feel like he’s losing big if he decides to sit this one out?
- Does it feel like one person writing to another? As impersonal as e-mail can be, you still want it to feel like one person’s message to another.
So what about you: are you still using email to prospect? If so, how effective have you become?
Or has spam and the crowd noise chased you out? Is email dead and anybody who uses it wasting their time and money?
Looking forward to hearing from you.
If you haven’t already, subscribe to the Real Estate Marketing Blog.
Classifieds in Your Real Estate Marketing Plan?
Came across this article last night from an April 2006 ClickZ article on online real estate ad spending:
“There’s still a lot of room for online spending,” observed Borrell Associates VP Pete Conti. The research firm found that while 77 percent of real estate buyers use the Internet for home searches, just 15 percent of the 535 agents surveyed place ad dollars there. Forty-seven percent of agents said they’d spend more online this year than last, and 45 percent said they’d spend the same amount.
The “2006 Update: Online Real Estate Advertising” report puts this in context, noting, “In May we met with the owner of one large brokerage firm who expressed frustration that while potential customers had moved online en masse, his agents hadn’t changed their advertising habits correspondingly.”
On the whole, newspapers will continue to experience a decline in real estate spending. The report predicts that the 37 percent share attributed to newspapers this year will move down to 30 percent in 2010. These numbers can be deceiving, though; some won’t necessarily feel the burn. According to the report, more real estate agents said they plan to raise newspaper ad spending this year — 42 percent — compared to 40 percent who said they’d spend the same amount.
Because agents typically aim to target small regional markets rather than large metro areas, they’re finding, “They can get a better bang for their buck in a small community paper.” While classified ad spending in large metro dailies will dwindle, those dollars will flow towards less-expensive but more targeted suburban and community papers and alternative weeklies, according to the Borrell report. “Agents are running from the metro dailies,” said Conti.
It’s August 2007 now. My question to you: do you plan to spend more on newspaper classifieds next year?
Are newspaper classifieds even relevant any more? Do people even read newspaper classifieds in weeklies or dailies any more? I don’t.
If you haven’t already, subscribe to the Real Estate Marketing Blog.
Link Happy on Labor Day
I know you will either be on the lake or the links on Labor Day, so this post seemed proper.
See you on Tuesday!
Massive depository of links on real estate blogging at the Future of Real Estate Marketing blog.
Landing good Internet leads. Inman TV.
Networking: Is online friendship like the terrestrial, real-life kind? And Steve Rubel on how the web changes our view of friendship.
By the way: how would you respond when you discover an online friend unexpectedly dies?
Exceptional–no, great!–moments in marketing. (Dig this: calling this marketing is incorrect. It is advertising, which is a function of marketing. Fun and nostalgic nonetheless.)
Short video on the future of search engine marketing. Two long videos on a completely different view of the future of search engine marketing.
The dangers of digg self-submission.
A must for you web DIYer’s: free SEO tools from SEOMoz.
Finally: how to get 6,312 subscribers to your business blog in one day.