When it Slows Down, Market More
When they say to save for a rainy day, this is what they mean. You’ll need marketing dollars to get you through slow times without interruption. You should know to plan ahead if you are in an industry such as real estate that is not only cyclical, but susceptible to the environment and other market conditions.
A prime example is an election year. Fact, it is harder to sell homes during a presidential election year. With fewer buyers out there for a home, agents must spend more to take a bigger piece of the limited market share. This election go ‘round is completely unlike all others, heightening people’s sense of insecurity even more. The majority of us are wondering what is going to happen, and that air of instability that permeates our thoughts prevents us from wanting to take on big risks.
Instinct might have an agent spending little money, but that is the opposite of what should be done. There are still people buying and selling, so agents just have to work a little harder and compete more for their business. Rather then stopping your efforts, you should double them.
Furthermore, you don’t want to be forgotten. When the dust settles after the election is over, will people remember you if you stopped branding yourself? They likely won’t. You might have paved the way for another agent to come in and take your market share.
When there is less hustle and bustle, don’t stop marketing. Then is when you need to go full force, because you want to be the one to survive the cycle every time. Plan ahead ,and you’ll have no issue taking market share from those who failed to plan ahead and strategize for the cyclical market.
If you’ve seen your bottomline affected, it isn’t too late to invest in your marketing.