Posted in

5 Ways to Improve Real Estate Marketing to Seniors

In 2020, more than 39 percent of homebuyers were over 55 years old, according to the National...

Digital Marketing for Real Estate Agents: 5 Rules to Know

Digital marketing works. There’s no getting around it. For something that didn’t exist just a...

5 Steps To A Healthier Home

Being healthy at home isn’t just about your diet. Sure, healthy eating is a wonderful...

3 Mistakes to Avoid When Entering the Real Estate Market

Real estate can be a tricky market to master. If you’re buying your first starter home or buying...

Home Improvement: Adding Flare to a Builder Grade Home

Purchasing a new home an exciting, emotional experience – and going with a professional builder...

Homes & Land Blog > Creating a Real Estate Marketing Budget

Creating a Real Estate Marketing Budget

The old adage goes, “You have to spend money to make money”. And marketing expenses are a big part of the money you need to spend. It's an expense some businesses try to avoid, but marketing is paramount to ROI, especially in today’s real estate world of omnipotent web presence and digital media.

Marketing expenses can add up quickly. That’s why creating a budget is the first step in any successful marketing campaign. But there are some additional steps you can take to ensure you stick to your budget and meet your marketing goals.

Study past marketing expenses. The best indicator of what marketing expenses you’ll have in the coming year is what your expenses were in past years. Where have your marketing dollars gone, historically? How much did you spend and where? 

What are your marketing goals this year? This is the fun part. Brainstorm a list of  all things marketing you want to accomplish this year. Facebook campaigns, direct mail blitzes, referral marketing, even CRM implementations – these all cost money. Along with your list of goals, lay out expected costs for each item.

Stack-rank your marketing goals. For most of us, money is a precious and finite resource. Prioritize your marketing goals from most valuable to least, and determine what you can implement in a given time frame.

Stretch the dollars! Crunch time. Take the funds you’ve allocated toward marketing and start comparing what you aspire to do (the plans) with what you can actually do (the dollars). Assign those dollars to your top initiatives. How far down the list you can make it?

Step back! Behold the plan. Is your marketing budget realistic? Does it accomplish everything you wanted it to for the quarter? The year? If not, don’t be afraid to go back to the drawing board. This is the moment. Don’t fear the financial scissors

Implement the plan. You’ve now got a rational, working budget. Now, go for it. And don’t forget to stick to the budget.  

There are many ways to set up a budget. Your marketing plan can list individual marketing initiatives or it can be divided into categories that include sub-budgets, like a digital marketing budget or an advertising budget. Unlike most things in marketing, with budgets the form is NOT more important than the substance. Make sure your goals are clearly listed and a cost is associated with each goal. Then, go out and set that plan into motion.   

Learn more about our integrated marketing packages for real estate agents.

Click Here to Get Started

Agent Marketing

Select a Category

See all

Recently Added

Buying Your First Home During Uncertain Times

Buying your first home in the best of times is a major life decision. Buying your first home during uncertain times can be a truly terrifying prospect…

Read More »

Home-Buying Is an Emotional Process

We know the feeling.

You walk in through the front door of a home for sale, and you immediately sense that this could be the one. This could be where…

Read More »

Wellness Week: Healthy Cooking

We're spending more time in the kitchen than ever before. If you've taken some of our gentle advice to heart and have organized your kitchen space,…

Read More »

Leave a comment below