Tuesday, July 16, 2013

Creating More Effective Real Estate Ads

Recently, we have performed some work for real estate clients. We decided to dedicate a post to creating more effective real estate ads. Creating effective real estate ads is about declaring your unique selling proposition (USP). How are you different/ better than your competitors? Customers always want to know: what's in it for me? Do your ads translate features into benefits?

People Ignore Most Ads
People are overwhelmed with more advertising than ever, bombarded through TV, radio, print and web. People have become conditioned to ignore advertising. Most real estate ads attempt to sell the prospect. This violates a basic business principle- prospects do not want to be sold. They ignore most real estate advertising.

The Failure of Image Ads
Many agents attempt to attract prospects through image ads. These ads are often flashy, colorful ads that feature pictures of the agent with the redundant promises of service and quality. All of these ads look the same- it is difficult to distinguish one agent from the other. Because these ads look and read like other ads, they will be ignored! These ads are trying to sell the prospect. Again, the prospect does not want to be sold!

Have a Unique Selling Proposition (USP)
All people want to know one thing- "what's in it for me." The purpose of marketing and advertising is not self-promotion; the true thrust of effective advertising is to attract prospects by appealing to their wants/ needs. This is a simple process. 1. Determine what your customers want/ need 2. Determine which of those wants/needs you can fulfill 3. Find a way to clearly communicate to your customers that you can fulfill those needs/ wants. Fulfilling a customers needs or wants is your unique selling proposition or USP. Your USP is what makes you different, it is what separates you from your competition. Your USP is the value that you offer your prospects and existing clients. Every company says they offer the best service, quality, price and dependability. They rely on vague and emoty superlatives such as we are #1, we're the biggest, we're the best. You must develop a meaningful USP that connects to the actual benefits you offer your clients. Effective USPs have the following characteristics: 1. Unique: You must offer something different 2. Specific: You must be clear and precise about what you offer. If you can be specific, your USP is more believable. 3. Relevant: You must be relevant to the needs/ wants of the client. Connect on a deep emotional level. Focus on benefits over features. Remember, people want to know, "what's in it for me."

Editorial Ads
Editorial style ads are presented as news, not advertising. Editorial ads can be an effective way attract prospects without selling them. Essentially, you are offering information that is relevant to prospects. This type of advertising generates a 500% greater response volume than image advertising. Because the ad appears as news, not advertising, prospects will not dismiss it. The information presented in an editorial ad must set up a problem and solution. It must be communicated that the information provided will solve a problem the prospect cares about or provide them a benefit. Positioning, appearance and the publication are all important considerations in creating effective editorial style ads.

Classified Ads 
Classified ads are different from editorial ads in that they are more direct and overt. Classified ads can underscore an agent's general service offering or reference a specific property. Many agents try to sell a specific house with an ad. You can't sell a house with an ad! The purpose of creating a property ad is to attract prospects. Often, when prospects call regarding a specific property, they ultimately purchase a different property. Creating effective classified ads invariably requires creating a USP that connects to the needs/ wants of the prospect. Strong ads connect to a prospect's emotional triggers. For instance, first time home buyers need to feel safety. Prospects purchasing an upgrade or second home want to feel prestige and esteem. Large brands and companies spend many millions to create emotional links to their products and services. Remember to determine your prospects wants/ needs and communicate how you can appeal to those wants/ needs.

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