December 17, 2010

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Referrals Still the Top Strategy

After surveying 1,300 agents and brokers, US real estate marketing company HomeGain has found that referrals are seen to be the most effective marketing strategy to acquire new clients.

According to the results, referrals scored 8.7 out of a possible 10 points for effectiveness. Featured listings were the second most effective strategy with 4.8 points, followed by email campaigns with 4.7. The top 10 strategies list reveals an interesting mix of traditional and newer marketing options:

1. Referrals (8.7)
2. Featured Listings (4.8)
3. Email Campaigns (4.7)
4. Postcards/Mailers (4.6)
5. Blogging (4.1)
6. Online Lead Generation Services (4.0)
7. Facebook (4.0)
8. LinkedIn (3.6)
9. Outdoor Ads (3.6)
10. Print Ads (3.6)

The top 10 marketing objectives for respondents in 2010 show another contrasting mix of old and new:

1. Referrals (8.9)
2. Email Campaigns (5.7)
3. Postcards/Mailers (5.4)
4. Featured Listings (5.2)
5. Facebook (4.9)
6. Print Ads (4.3)
7. Blogging (4.2)
8. LinkedIn (4.1)
9. Online Lead Generation Services (4.0)
10. YouTube (3.5)

What’s interesting is that the strategies agents and brokers found to be most effective in 2009 aren’t necessarily the ones they plan to focus on in 2010. The respondents are clearly aware of the fact that Facebook is growing in importance, for example, and that 2010 might be the year to consider adding YouTube to their marketing mix.

HomeGain says respondents are less likely to invest their marketing dollars and time on banner ads, pay per click advertising, outdoor advertising, and MySpace this year. Twitter was also included on the list of strategies losing popularity, despite its continued growth.

Do you think the respondents have basically the right idea when it comes to their marketing priorities for 2010? What would you do differently?


Related posts:

  1. Marketing Habits Tough to Change
  2. NAR: Buyers Relying on Referrals



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