That is the dilemma facing Rainmakers in the new market. We’ve all searched for ways to cut costs. Now we are seeing the impact in reduced business. What Rainmakers need today is to market more but find lower-cost and more effective ways . Here are 7 techniques we’ve seen Rainmakers use:

· E-mail marketing. Direct e-mail is cheaper than direct mail. Build an e-mail database by asking contacts for their e-mail addresses.

· Targeted direct mail. Rainmakers who keep mailing report more listings, but some have trimmed their lists, frequency or targeted new groups that are most likely to move to bring their expenses in line with revenue.

· Telephone prospecting. Invest your time into an hour (or two) of power each day calling prospects (leads) and past clients and sphere (contacts). Select your call list from the contacts you have just sent a printed or electronic newsletter. Calling “behind” a mailing will give you a reason to call…and turn your cold calls into warm calls.

· Reduced ad rates. Negotiate with print publishers, such as homes magazine or newspaper ads or radio and TV time slots, for reduced rates for space that is unsold and left over. You may be able to increase your advertising without increasing your budget (see How To Succeed In Today’s Market The Rome Way , May 8).

· Blog and tweet. Use social media from blogs to Twitter and from forums (RealTown.com ) to professional networks (LinkedIn.com ) to build a referral network of other real estate agents. Commenting on blogs like RealEstateRainmaker.com increases your inbound referrer links, which increases your organic (free) search placement.

· Webinars. Host your buyer and seller seminars on the Internet. Record the live webinar and link to your site for prospects that could not make the scheduled presentation. Be sure to include a call-to-action response slide in the beginning and end of the webinar to generate additional at-your-convenience prospects.

· Pay-per-click microsites. PPC is a payment model where the advertiser is only charged for each click-through. You can set a maximum budget and change the ad if it fails to generate results. Local microsites that capture local prospects – not web users located anywhere in the world – are very productive landing pages.

Can you add to these techniques? Please share your experience. Other Rainmakers will thank you!

Dan Richard

Emeritus at Gooder Group
Dan is the Founder of the Gooder Group and the author of a series of successful Real Estate books: https://www.amazon.com/Dan-Gooder-Richard/e/B000APPTQK/.

One Comment

    Chris Cassidy

    Good points. Your opening statements really hit the nail on the head. Like most agents, I have cut back big-time on my marketing expenses, and tried to make the most out of less costly and no-cost options like craigslist. What I have found is that I am getting fewer leads overall, but it seems to me that I am having much better success at converting the leads into real business. Now, I can’t be sure whether that isn’t just due to my concerted efforts to follow up better, or whether the quality of the leads is just that much better. The great thing about the type of marketing I do is that if I track it consistently, eventually I will figure it out and be able to then tweak it and get more leads.

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