7 Marketing Strategies to Gain Market Share For 2024
As we stand on the cusp of 2024, the real estate industry is bracing itself for a year filled with uncertainty and potential challenges. With media pundits and experts sharing their predictions about the impact of interest rates on the market, one thing is clear: buying and selling properties will remain a constant. However, the pivotal question for real estate agents is, "What are the chances of getting called in?" This is where the game will be won or lost in the coming year, according to Bespoke Media's Nic Fren. "In an industry where competition is fierce and stock levels are low, the agents poised for success in 2024 will be those who stay consistently visible and top of mind among their clientele" he says. So, how does one become a top-of-mind agent? His advice is simple: whatever you're doing now, multiply it by four. To thrive in this unknown market, it's imperative to saturate your marketplace with your presence. Gone are the days of thinking,
"This marketing approach doesn't work" or "That strategy won't yield results." In today's landscape, you need to engage your audience through various media and marketing channels:
Direct Mail (DLs) and Flyers: Don't underestimate the power of traditional marketing methods. These tangible materials can still leave a lasting impression.
SMS Marketing: Reach potential clients directly on their smartphones, where they spend a significant amount of their time.
Community Engagement: Participate in local Christmas events, set up stalls at community gatherings, and be an active member of your neighborhood. Building trust and connections within your community can be invaluable.
Email Marketing: Craft compelling email campaigns to stay in touch with your client base and keep them informed about the market.
Social Media Organic Content: Consistently share valuable content on your social media platforms to showcase your expertise and build your online presence.
Social Media Paid Ads: Invest in targeted advertising to expand your reach and connect with potential clients who might have otherwise been overlooked.
Collaboration: Partner with other professionals who can help amplify your message and broaden your influence within the industry.
In the real estate world, market share is the key to success. Agents who dominate the market are the ones who receive the majority of calls and, consequently, the most listings. It's about gaining market share and, more importantly, retaining it in the face of a potentially tightening market.
"I've been genuinely impressed by the innovative and captivating content that agents, agencies, and networks have been putting out recently" says Mr Fren. "It's evident that they understand the importance of cutting through the noise and staying top of mind with their audience". As we approach 2024, the primary goal for real estate agents and offices should be to secure market share swiftly. The most effective way to achieve this is by generating more sales, which, in turn, starts with acquiring more appraisals and listings. The foundation of this entire process lies in getting called in by potential clients, and this hinges on your marketing efforts. The real estate landscape of 2024 may present its share of challenges, but it also offers abundant opportunities for those who are proactive and innovative. By adopting a robust and multi-faceted marketing strategy, real estate professionals can position themselves to thrive in the face of uncertainty and come out as winners in the year ahead.