Over the past year, agents have navigated an unusual market of record levels of buyer interest, low stock and extremely competitive sales times. But, markets are predicted to steady over the next few months with a rate rise on the agenda, more sellers expected to return to the market and a slow-down of buyers.
As the market changes, your approach should change to marketing for buyers.
With potentially less buyers on the market, you’ll need to actively seek out buyers instead of waiting for them to come to you.
Your marketing strategy should focus on two key elements:
Let’s start with digital marketing tactics to help you uncover new buyers in your area!
Your digital marketing strategy in this changing market should involve discovering new potential buyers in your farming area. Social media advertising is an effective and relatively inexpensive tactic to achieve this.
There are many potential advertising campaigns you can run at different times throughout the lifespan of a listing.
Prior to the listing going live is the perfect time to generate excitement about your new listing. Running a lead generation campaign in the lead up to a listing going live also means that by submitting their details to you, users on social media will be getting information they can’t currently find anywhere else. This is an enticing prospect!
Generate fresh new leads, by utilising fresh new photos of your property. Encourage users to jump in early and enquire before the first open home.
We recommend coupling these targeted advertising campaigns with posts directly to your Facebook page.
Updates like price changes, or on the number of offers you’ve received on a property can prompt new buyers who haven’t come forward yet to do so.
A last campaign once you’ve sold your property can get you in touch with new sellers, or encourage buyers who missed out to contact you to see similar properties.
You can’t do this just by sending property alerts! To truly uncover potential buyers in your existing database you need to support their needs. Consider how your marketing benefits them.
Providing buyer specific content on the local market and lifestyle, buying advice, information on laws and processes that affect them can help you uncover buyers at very early stages of their research on the market. With the right tracking and reporting in place, you can be the first to reach out to them, making you their first port of call when they’re looking for their new home.
You can also regularly survey your full database to generate more information on what these contacts are looking for directly from the source!
You can then tailor your marketing and conversations with them to this information.
Discovering new buyers is only one part of the equation. To succeed in a market where buyer competition is not as strong, you also need to be regularly and clearly communicating with the buyers you already know.
With automated tools you can make this process not just efficient but also effective.
Once you have a list of potential buyers, set up automated emails to give them fresh information. From new listings to inspection times, price changes to sales results, keep your buyers clearly and consistently updated.
Regular updates on your social media pages are also important in keeping buyers who aren’t reading your emails informed.
If a contact enquires about a property through one of your automated emails take the opportunity to get in touch! Add these contacts to your hottest buyers list if you think they’re ready to make a move on a property soon.
SMS is also a fantastic way to keep in touch with your hot buyers. SMS creates the feeling of intimacy and urgency. In fact, 34% of people read their messages within five minutes of receiving them. Use a bulk SMS software to send updates on specific properties to buyers who have enquired about that property. You’re very likely to get a direct response from that contact.
Whatever method you decide is the best to keep in touch with your buyers, make sure that you keep it consistent. Even if a contact doesn’t buy a property on the first, second, third or even twelfth time enquiring with you, they will buy eventually. If they’ve built an excellent relationship with you on their buying journey, you’ll be the first on their list when it comes time for them to sell.