Real Estate Marketing Outside the Proverbial Box
A good friend of mine who runs a mortgage broker firm in town shared with me a brilliant marketing idea a local realtor and insurance agent used to add over 900 names to his database over the span of a single week-end.
You know me... I like to think outside the box so this definitely caught my attention.
This may be a great idea for some of you to try for just the right promotion but if nothing else I hope it will get your wheels turning to come up with fresh ideas to really capture some new clients starving for some innovation.
Check out the idea from the GoMaxSolutions website below.
I ran across what I thought was a great marketing idea, and at least for me, a unique one. A Realtor who is marketing a local development ran a contest last weekend and the winner (if there was one) would win a brand new show home in the project that was listed for a million dollars.
Who wouldn’t want to win a million dollar show home in a beautiful new lake front sub division? Well 900 people showed up over 2 days to try to win the home, and everyone had to give their name, email address and phone number before they could play.
Once the Realtor had all their information they stepped up to the magic box and entered a 7 digit code of their choice and if they were right, bells would go off celebrating their win, otherwise a better luck next time and thanks for coming out.
Now, you may be thinking, who can afford to give away a million dollar home just to capture 900 names? Our Realtor buddy sure couldn’t, but instead he and the developer split the cost of an insurance policy which was worth $4,000. If there was a winner (sadly there was not) the insurance company would have paid the million dollars to the developer.
This event created so much attention the local radio stations were talking about it, and the evening news picked it up giving the Realtor and Developer a bunch of free advertising and more traffic in the days that followed.
Once the 900 names have been collected, you could offer to run a co-branded, follow-up drip campaign (action plan) to those individuals. This would keep both of you front and centre for months or even years to come.
We did some research and have contact details for an insurance agent if you are interested in running your own contest. By the way, the people who ran the contest featured in our recent article attracted over 900 people over the Saturday and Sunday, 120 of which request more information on the development, and 6 people requested immediate meetings with the realtor, and one offer was written.
We also have a group using this sort of contest for a client appreciation event. Each client who funds a mortgage gets an entry as does anyone who refers a client who funds a mortgage. Instead of giving away a home, they are paying off a lucky client's mortgage if the winning number is entered (costs about $750 to $1,000 for $500,000 payout).
This is a great idea for...
- Getting real estate project marketing listings
- As a strategy for working with real estate developers who want to generate traffic quickly on their project
- Increasing your own real estate database quickly if you are new to the area
- Reaching a bigger audience for increasing your business production in the next year.
This opt in database being fostered and contacted strategically over a consistent time period could lead to some large returns in future business and is an excellent reason to approach developers for listings.
There is no shortage of ideas, it is just a matter of spending time brainstorming, implementing, testing, tweaking and never giving up being creative.
I challenge you (if you don't already) to spend at least one dedicated and focused hour per week strongly looking at what might "tired old" ideas you've used for years in an attempt to revitalize your real estate marketing strategy.
Strength and courage,
Wade
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