I believe in two specific ways to create a successful product. Have a great brand and market it big league online.
The days of print advertising, commercials and radio ads are over. When is the last time you watched a commercial, listened to a radio ad or read a magazine or book that wasn’t on your iPad? I believe in solely advertising our Schottenstein Real Estate Group brand online.
Stay top of mind, often
Google Ads are a great way to get your business listed at the top of Google’s search without having to spend all the time associated with search engine optimization. Ninety-four percent of clicks take place on the first page of Google.
Retargeting ads are also a nice way of keeping your brand top of mind for website visitors who are interested in your company. Research says a person must see your ad seven times before it has a positive impact.
If you unfamiliar with retargeting advertisements, this is when a pixel is placed on the back of your site that allows you to serve your branded advertisement to a website visitor after they drop off of your site. With retargeting ads, your brand has the potential to show up on many different websites. While people may think you are spending a lot of money for this form of advertisement, it is relatively inexpensive.
Email marketing and social media will make money for your brand. For every $1 you spend on email marketing, you can expect an average return of $38, according to Constant Contact Inc.
Social media is another fairly inexpensive way to get your brand exposure, and you don’t need a massive budget to reach a large audience. Just make sure you are tracking your marketing efforts on social. While page likes and interaction is great, you need to make sure this converts to new business.
Bad news travels
It is also very important to protect your brand. Bad experiences are more likely to inspire reviews compared to positive experiences. If you are not proactive in reaching out to your brand advocates to leave an online review for your business, your business can get burned.
A dissatisfied customer or even your competitor can leave a negative review on Google or Yelp that will change the perception of your brand when people are searching across the web. Ninety percent of consumers read online reviews before making a purchasing decision.
If you consistently reach out to your satisfied customers and ask them to leave a review for your business, you will have glowing recommendations across the web. If a negative review happens to trickle in, you won’t feel the burn as much if there are 30 positive reviews versus the one negative.
Take my advice and market your company online.
Brian Schottenstein is the President of Schottenstein Real Estate Group is one of the largest developer/builders in the Midwest, focusing on residential and mixed-use developments throughout the Midwest and Southeast. It also is the only three-time Developer of the Year by the Building Industry Association.