Are you concerned that your marketing strategy is going stale? Perhaps you’ve noticed that you aren’t getting as many leads as you once did. Maybe you’ve been outpaced by competitors who are using newer tools and technology.
It doesn’t matter why you’re looking for a real estate marketing consultant. The truth is that there are many reasons to consider working with one. Consider if any of the following reasons apply to your operation:
- You need a new perspective
- You need data & analytics to assess your operations
- You need help adopting new strategies
- You don’t have proficiency with the most competitive ad platforms and software
- You don’t have the funds to build out a permanent team
- You want to focus on the big ideas
- You’re doing great, and you want to lock in your advantage
- You want to know what’s really possible
Below, you’ll find some more information about why each of these reasons might apply to you and how a consultant can help.
You need a new perspective
A consultant can offer you a fresh perspective on every part of your operation. A new pair of eyes can be helpful to any real estate investor, but they’re particularly invaluable if:
- Your market has gone through recent changes
- You have competitors who are trying new things
- You want to expand to a new area or type of property
All of these situations can require you to make changes to your entire marketing campaign. There are a lot of choices that need to be made. Someone who has handled marketing for many different real estate clients is in a great position to tell you what to expect.
A consultant can apply experience, perform research, and make informed suggestions about what you need to change.
You need data & analytics to assess your operations
Advanced math doesn’t come naturally to every property investor. Many property investors got their start by using their hands. They handled tough renovations by themselves to turn their first property into a profitable investment.
However, advanced math does have its place in the market. Data and analytics programs have become an important tool in nearly every business. Other investors, especially major firms, use these tools to control their risk and guide them to the best opportunities.
Your consultant may be ready to handle this part for you. Performing research has always been an important part of marketing. Many real estate marketing consultants have adopted these tools so that they can make deliver better predictions and projections to their clients.
Even if you’re only working with a marketing consultant for a few months, the research that they provide for you can be an asset for years to come.
You need help adopting new strategies
You may not need an experienced marketer to tell you that your current strategy just isn’t working out. Perhaps you’ve already decided on a new direction after conversations with mentors, industry groups, or other real estate investors.
It’s easy to make mistakes and to overlook important details when you’re transitioning from one type of strategy to another. A consultant who has developed many different strategies can use their experience to keep you from forgetting details that can make a big difference.
A real estate marketing consultant can help you redistribute your budget, choose the right tools, and put the right staff in place to make your new strategy a success.
You don’t have proficiency with the most competitive ad platforms and software
Developing and buying ads is a major part of most real estate marketing campaigns. Ads can easily be the biggest driver of new leads, but it can be hard to keep up with where audiences move and the features of the latest platforms.
For example, YouTube reaches more adults aged 18-49 during prime time than any cable network does in an average week. YouTube’s ad platform is now one of the largest in the world. A few short years ago, most marketers didn’t even bother with it.
The platforms aren’t the only thing changing. Major ad programs like Google Ads have updated their targeting tools in recent years. You can now target demographics more precisely than ever before. However, these capabilities only exist if you know how to use them.
Marketing consultants can’t afford to fall behind in this area, so they constantly learn about new platforms and what’s possible when using them. Ask your consultant if you could be taking advantage of new advancements in targeting or
You don’t have the funds to build out a permanent team
Developing a marketing campaign can be a full-time job. Planning one can take a significant amount of work, and even when it’s done, it may not work as intended until it’s been tested and properly adjusted.
Hiring an in-person team to handle this work for you year-round can be a huge expense. It’s really not an expense that most property investors can afford until they’re big enough to buy new properties every month.
Real estate marketing consultants understand that you may not be ready to make that big of an investment. They can still give you the support you need until you’re ready to start building an in-house team.
These consultants typically operate on short to medium-term contracts. They understand that you need lasting value, and they can develop strategies that you can still work to put in place once the contract has ended.
You want to focus on the big ideas
Many property investors choose to work with real estate marketing consultants because they want to improve their marketing. However, others do it because they don’t want to think about their marketing at all.
If you’re exploring future options for your company, working with leads you already have, or managing a big expansion of your operations, a marketing consultant can take a lot of work off your plate. If you leave the marketing work to them, you’re free to handle the major work that’s more in line with your priorities or skillset.
Many marketing consultants are perfectly fine if their clients want to be as hands-off as possible. These professionals don’t exclusively draft plans for you to put into place. In many cases, they can also implement the strategies for you by working directly with your marketing team.
You’re doing great, and you want to lock in your advantage
Even if you’re doing great, you may not necessarily understand why. A minor change can help you capture many more leads, but if you’re like many property investors, you test out a lot of different things every month. If you don’t know what’s working in your marketing plan, you’re at risk of losing your advantage. A competitor who is researching your online presence may even figure out what you’re doing right before you do—and then take steps to do it better than you.
You could also make the mistake of investing too heavily in the wrong direction. If you decide to spend a large portion of your budget reinforcing the wrong part of your marketing plan, you can lose a lot of money while seeing your new leads dwindle.
A real estate marketing consultant can do a deep dive into your marketing campaign. Their experience can help them understand what you’re doing well and how your competitors are falling short.
You want to know what’s really possible
You may not be having a lot of trouble with your marketing plan. However, you may also not have a firm idea of what’s possible in your market.
It’s easy to become satisfied with lackluster results if you aren’t aware of the possibilities. However, failing to understand your potential can come with a cost. If your competitors discover untapped opportunities before you do, even your modest gains may be at risk.
A real estate consultant can pull insights out of market research to help you identify the leads that you aren’t capturing with your current strategy. Consultants can also perform in-depth research on your competitors to find out what’s working best for them.
Is it time to hire a real estate marketing consultant?
Now you understand some of the reasons to put a real estate consultant to work for you. A consultant can help you if you need a new perspective, new technology, or a complete overhaul of your marketing strategy.
A consultant can also unleash you from the mundane tasks you need to perform to make marketing work. You’ll be free to focus on higher-level work, and it will cost you a lot less than hiring permanent staff.
Remember that you don’t need to be in a bad position to seek help from a real estate consultant. Working with one can give you greater insight into what’s really working, and what’s possible.