It is imperative for every real estate marketing plan to have an established business plan as well. The business plan steers real estate marketing efforts to a direction one has envisioned. Instead of vague goals and limited information, the company or the individual knows just how to get there.
Before writing the contents of a marketing plan or (if it has already been set in motion) before taking it to the next level, here are a few pieces of advice to consider:
Simplicity is efficiency. As much as possible, avoid getting caught up in a web of procedures, strategies and tools that are too complicated to implement. Simplicity is still the best recourse. A simple marketing plan is easy to implement because the provisions or attendant requisites are not that difficult to understand. Complicated plans tend to be ambiguous, thus causing implementation issues. It is also an advantage to accommodate and implement a plan that is simple because loopholes and other such errors are easy to spot and correct.
Tie it to a goal. In the process of implementation, remember the goals originally set out in the business plan. These goals are guideposts as well as constant reminders that will help launch a set of marketing strategies. The marketing plan must always be in congruent with the business plan.
Be firm and flexible. It is challenging, but if a company, an agent or a broker manages to formulate a marketing plan that is both flexible and firm, it is easier to learn to adapt. Flexibility is the ability to change with the constantly changing marketplace. A marketing plan which is flexible and at the same time firm provisions is resilient to unpredictable supply and demand patterns and can shift gears without falling prey to collateral damage.
Formulating and writing a marketing plan involves a few things:
First, draw out all thoughts and ideas that come to mind. Using a mind map or a concept map can be very helpful. Leave no stones unturned. Account for every perception brought forth. Even if some of these may not be of use for the present, they can always be utilized for future use. Be open to anything and everything. During brainstorming stage, all ideas are correct. What matters is that a bunch of these ideas can address present issues.
Kamal Sehgal
Secondly, organize and select. A disorderly marketing plan is doomed to fail. Streamline ideas generated during brainstorming. Select those that are applicable to present circumstances. Do not discard those that are not applicable. Store them in an easily retrievable file folder or device as they can still be used for future brainstorming sessions.
The third step is to create real estate marketing strategies suitable to identified needs. Such strategies should also be mindful of other factors like existing resources, area/s of concentration or specialty (i.e. residential homes, condominiums, memorial lots, etc.), target audience and the like. For instance, if area of concentration is residential, it is best to use a strategy that can capture the essence of a home so that it easily appeals to families or people planning to build a family. The company or individual may opt to produce real estate notepads shaped like houses. Another option would be to use real estate marketing postcards designed in such ways as to earn the sympathy and/or appreciation of homey individuals or those individuals who would rather live in houses instead of condominiums.
Document. Fourth and final step, depending on preference, is to document everything. Incorporate all components of the final marketing plan in a single document. This will serve as a guidebook of sorts whenever you feel the need to revise the plan or take it to the next level.