How we turned a $4K marketing investment into a $50K profit for our clients.
Real Estate Vlog Episode 5 with James Priestly, Melville Real Estate Agent
Transcript
Welcome back to Episode 5. Today, we’re having a look at a case study which assesses the effectiveness of marketing and why making a good investment here is so important.
We’re hearing too many stories of sellers not getting the results they want after under investing in their marketing. We conducted a marketing campaign for a client in two phases to test price before selling.
Put the property out to leftover buyers from similar listings and our database, we had about 35 inquiries in one week, which is about the same that we would expect from a basic marketing package.
Held some viewings, had interest peaking out at 1.175 mil. This was below the seller’s expectations, didn’t give them a lot of confidence. But we knew we could sell it much higher using our marketing strategy.
The seller’s committed and they let us put things into action.
Entering phase two, we used our full range of marketing options. The seller’s implemented our style guide. We had good video, great photos, listed across all the digital platforms, social media, print media, flyer drops, VIP home open invites, additional REA advertising, home open video, picture cards around the property, light refreshments at home opens, strong presence of signage.
This campaign might be around $4,000. I know a lot of agents out there might only be charging two grand for marketing, and they might tell you that’s all you need to get the price you want because they know it can be easy to get sellers signed up by offering cheap marketing.
Now, I want the word cheap to sink in. If you are chasing top price, how do you think using a cheap option will go to help you achieving that?
Let’s look at the results from our today’s study. Results are everything, and it’s all the performance of a marketing campaign should be measured against.
Now, remember, phase one, we’re looking at a price tag of 1.175 million entering phase 2. Our video was viewed over 500 times. This is about 10 times more engagement than what the photos had. Some of our videos get over 1,000 views.
Our social media adverts had over 770 clicks through the website listing. Our flyers and local paper adverts ensure any passive buyers see the listing, and the social media marketing also helps here.
This all leads to our realestate.com.au listing achieving over six times the engagement as the market comparison for similar listings.
Once buyers come through the property, we have touch points and messages everywhere to reinforce the key selling points of the home, plus champagne and snacks to keep people inside for longer.
No one leaves one of these home opens without being impressed. They are world-class and they work on every type of property, no matter the value.
This is high impact marketing, but only results matter.
Well, I can tell you the sale price of this property was over 50 grand higher than what we were looking at using only basic marketing measures. That’s effectively a 50K return from a four grand spend.
If you want the best result, you can’t cheap out a marketing. Your most important asset.
Marketing matters.
My question is, do you take the cheap option or do you want a marketing strategy that will ensure you get a better price? I know where my money sits.
