Sales is a numbers game, so if you want your real estate listing or brand to reach the largest audience possible, you have to advertise. The goal is to get the best return on your advertising investment (ROI) as possible. That means you have to reach the right people at the right time and in the right places. You also have to communicate your message multiple times – this is true for both print and online ads.
By focusing on frequency and reach, you have the best shot at reaching your goal for a good ROI.
BROADEN YOUR REACH
Advertising reach is the total number of people who see your ad in a magazine, newspaper or on a website within a specified timeframe. People can easily confuse reach with impressions, which is a term primarily used in digital advertising.
Impressions measure the number of times your ad is seen. So while reach measures the number of people who see your ad once, impressions refer to the number of times the ad is actually seen - even if the same person sees it more than once.
Reach is especially important for new listings because the frequency at which your target audience has seen your ad is low. You will want to promote that new listing very heavily initially so that it reaches more potential buyers.
Reach is also important when you seek to increase exposure for yourself or your office’s brand. Drive home your message by putting it in front of as many potential buyers and sellers as your budget will allow.
For example, if you want to brand yourself as the cream-of-the-crop in luxury real estate, you can consistently promote this message so that you become top-of-mind with prospective buyers and sellers in the market.
INCREASE YOUR FREQUENCY
Frequency is the number of times your target market is exposed to your ad. Essentially, it’s a repetition of the same message. The goal is to promote interest on a continuous basis and ultimately sell your listing. Frequency can occur within the same channel, say a website or print publication. Advertising frequency can also occur with multiple channels working together to create a holistic media advertising campaign.
According to MPA Magazine Media Factbook, there is an 84 percent increase in brand or product purchase intent when advertising exposures increase from one or two times to more than five times.
A minimum of five pages of advertising in any magazine in a year is necessary to achieve impact, according to a Harvard Business Review study. Anything above that minimum level increases sales and reduces the cost for the advertiser.
The luxury real estate landscape is competitive, so it’s especially important that your listing consistently runs in a publication for as long as it’s on the market. That way potential buyers will be able to better recall your listing when they’re looking to buy.
Frequency also helps differentiate your listing. If you advertise more often than your competitors, your listing will stand out. Displaying the same images for the property is key because people easily recall pictures.
Consider the Context of your ads
Media, marketing and creative elements are also important in the quest for increased exposure to your target audience.
In publications like The New York Times, Wall Street Journal and Robb Report, audience members are investing a good level of attention to the editorial content. Real estate ads stand out because publications like these have special real estate sections.
Associating your listing with the reader’s environment is another great way to target. For example, if you advertise in Kingdom Magazine consistently, your target market is going to associate your home with golfing. That’s perfect for golf community listings. Creating these associations is a powerful tool to link your listings to what your consumers like most.
USE EPIC IMAGES
The images and text you use creatively in your ad can factor into how well your target audience remembers your listing. An image that boasts the façade of a property may work. But, an aerial view can capture your property's magnificent landscape and provide greater impact. It all depends on your budget and how much you want to stand out.
These tactics for exposure can help you get your listings in front of your target audience and increase your ROI for your real estate advertising budget. Remember, advertising wisely and deliberately can go a long way in boosting your luxury real estate business.