As you navigate the ever-evolving real estate landscape, setting clear and effective marketing goals has never been more crucial. Thankfully, our 2024 State of Real Estate Marketing Report offers valuable insights into the strategies top-performing agents are using to stay ahead.
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Let’s explore how you can leverage these findings to set marketing goals that will propel your business forward. And as you set your marketing goals for the end of 2024 and beyond, remember to make them SMART: specific, measurable, achievable, relevant, and time-bound.
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Prioritize lead quality over quantity
The report highlights that generating high-quality online leads remains the top marketing priority for 35.6% of real estate professionals. The responses show a marked shift from seeking quantity to quality, which clearly reflects the changing market dynamics. When setting your goals, focus on strategies that attract serious buyers and sellers rather than casting a wide net.
Goal-setting tip: Aim to increase your lead conversion rate by a specific percentage over the next quarter. This might involve refining your targeting criteria or improving your lead nurturing process.
Invest in personal branding
Across all survey respondents, personal brand development emerged as the second most important priority. However, among those reporting gross commission income of $400,000 or more, building a solid personal brand development was just as important as lead generation. This is because, as your business grows, your personal brand becomes increasingly crucial in differentiating yourself in a crowded market.
Goal-setting tip: Set a goal to consistently publish thought leadership content on your website or social media platforms. Aim for a specific number of articles, videos, or podcasts per month that showcase your expertise and unique value proposition. For many agents, this means posting on social media at least once per day, sending an email newsletter at least every quarter, creating and sharing video content once a week, updating their website at least every quarter, and regularly asking for client testimonials.
Leverage your existing database
Generating more opportunities from existing databases ranked as the third priority. This underscores the importance of nurturing relationships with past clients and leads.
There is plenty of opportunity to leverage this asset. The report found an astounding 30% of solo agents don’t use a CRM at all. Using a CRM and connecting it to your marketing efforts will save time, create efficiencies, and boost your overall lead conversion strategies.
Goal-setting tip: Implement a systematic approach to database management. This could include regularly updating contact information, segmenting your database for targeted communication, establishing a consistent follow-up schedule, and embracing key automations.
Tailor your goal to your situation. If you don’t have a CRM, get one. If you use a free version, see what you get for upgrading. If you pay for a system, take a class or schedule a demo to make sure you’re using it to your advantage. If you can afford to hire an assistant, get one to clean up your data. Your database is one of the most important tools you have. Be sure you’re making it work for you.
Diversify your marketing channels
The report reveals that agents using five or more marketing channels to promote their listings reported double the average gross commission income compared to those using fewer channels. This emphasizes the importance of a multi-faceted marketing approach when it comes to properties.
Goal-setting tip: If you’re currently using fewer than five marketing channels, set a goal to expand your reach. For example, aim to add one new content venue per quarter, such as starting a YouTube channel or launching a local real estate podcast.
Embrace video marketing
Video content is emerging as a crucial trend, with more professionals recognizing its potential. When we asked agents to list the most underrated marketing techniques, video was the most commonly mentioned channel. This indicates an opportunity for those who embrace it earlier than their competitors.
Goal-setting tip: Set a goal to create and publish a specific number of video content pieces each month. Shoot for 20% more than you’re doing right now. This could include property tours, market updates, or client testimonials.
Optimize your website and SEO
Business websites have overtaken social media as the most important marketing tool for 2024, with SEO gaining significant traction. This shift highlights the importance of having a strong online presence that you control.
Goal-setting tip: Set specific goals for improving your website’s performance. Increase organic traffic by a certain percentage and make a concrete goal to improve your search engine rankings for key local real estate terms. Need more guidance? We’ve got you covered.
Increase your marketing budget strategically
The report indicates that the average real estate marketing budget is projected to rise by nearly 12% to $14,213 in 2024. Consider how you can strategically increase your own marketing investment to stay competitive.
Goal-setting tip: Set a goal to increase your marketing budget by a specific percentage, allocating the additional funds to areas that align with your other marketing goals, such as video production or website optimization.
Regularly review and adjust your goals based on performance metrics and market changes. By aligning your marketing goals with the trends identified in the 2024 State of Real Estate Marketing Report, you’ll be well-positioned to thrive in this evolving real estate landscape.
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