Keys Successful Price Reduction Strategy

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There are many reasons why you might be thinking about reducing the prices of a product or service. There are usually two main reasons: the product or service isn’t selling as well as you had hoped, or you’re looking to increase your customer base. A price reduction can help interest potential customers who may not have been interested before. However, if you plan on cutting prices, you need to implement effective price reduction strategy marketing.

Why is Price Reduction Strategy Marketing Important?

There are two critical reasons why you can’t just slash prices without a price reduction marketing strategy in place. First of all, nobody will know about the price change. Secondly, you don’t want those who do know to make the wrong assumptions about why you are changing the price.

Generating Awareness Of Your Price Reduction

If you don’t market the fact that you’re reducing your prices, nobody will know about it. This then defeats the purpose of lowering your prices in the first place. For example, if you are reducing the cost of a product because it isn’t selling well, then it’s still not going to sell well if nobody is aware of the price cut.

Informing Customers Why You Are Reducing Prices

If people don’t know why you cut prices, they will make assumptions. This can hurt your brand image. For instance, some customers might think that you’re discontinuing a product and are trying to get rid of the last of what you have left. Customers don’t want to buy a product if a newer version is coming out soon after.

What Are The Keys To Effective Price Reduction Strategy Marketing?

When you cut the price of a product or service, you should have a goal in mind. After all, why else would you reduce prices? Whatever your goal might be, you’ll want to keep it in mind as you develop your marketing strategy. A good price reduction marketing strategy should include the following:

  • Provide A Reason

If you don’t justify your price cut, your target audience may become skeptical about why you’re doing it. You need to have a good reason. For example, maybe you’re just having a sale to reward your customers. Or maybe it’s an ethical reason (such as temporarily lowering prices during the COVID-19 pandemic). If you’re permanently reducing the price, you should provide an explanation as well.

  • Research Your Competition

If you’re trying to price your product more competitively, then you should do some competitive research. How much are your competitors charging for similar products or services? If you’re temporarily reducing prices, then you might want to make them even lower than your competition. Doing so can help you steal customers who are willing to try your product or service due to the low price.

  • Establish A Timeline

Is your price cut going to be permanent or temporary? If it’s temporary, you should market it as such. You’ll want to note exactly when you plan on reducing the price. You should also mention how long it will remain at that price point. This way, customers who want to take advantage of your price reduction won’t miss out. The last thing you want is for customers to not make the purchase because they didn’t know that your price cut was temporary.

  • Consider Your Buyer Personas

Consider how a price change will affect your buyer personas. You might not realize it, but reducing the price isn’t always the best way to increase sales. This is especially true if your buyer personas are on the wealthier side. These personas are likely looking for a premium product or service. If you lower the cost of your product significantly, it may lose the perception of luxury.

Why Are Buyer Personas So Important?

  • Focus On Features

One of the biggest mistakes that companies make is to focus solely on the price cut. While the price reduction will attract many customers, it’s not the main reason why they will make the purchase. It’s the features of your product or service. Focus on the features that make your product or service worthwhile. The features are what provide the real value, after all.

Implement A Successful Price Reduction Marketing Strategy Today

Reducing the price of your product or service can help you increase sales and your customer base. If you take the time to develop an effective price reduction marketing strategy, it will result in both a short-term impact and a long-term impact (even if you’re only reducing prices temporarily).

buyer persona guide for business
Customer Journey vs Buyer Journey

Core Difference Between Buyer Journey vs. Customer Journey

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You’ve probably heard a lot about consumer lifecycles and the different terms used to describe said lifecycles, such as buyer journey and sales funnel. They can be a little overwhelming and a little confusing. You might even wonder why some terms seem to describe the same thing, such as buyer journey and customer journey. Don’t be fooled–the buyer journey is very different from the customer journey and it’s important that you know what the difference is. The following is a breakdown of the buyer journey vs. the customer journey.

The Buyer Journey

As we’ve previously discussed, the buyer journey makes up the stages that a consumer goes through up to their decision to purchase a specific product or service from a specific company. This includes the awareness stage, during which they realize that they have a problem; the consideration stage, during which they identify the solution to their problem; and the decision stage, during which they decide what product or service is the best solution to their problem.

The Customer Journey

During the buyer journey, the consumer doesn’t become a customer until the end of the very last stage (the decision stage). However, your relationship with your customers doesn’t end the moment they’ve made a purchase. The real success of a business depends on return customers, after all. This is where the customer journey comes into play.

During the customer journey, you should focus on further developing relationships with your customers through regular engagement. Building relationships will help to increase trust in your brand, which, in turn, will improve customer retention.customer journey

Read about How to Use the Buyer’s Journey to Create Great Content

But getting customers to purchase your products and services again isn’t the only goal. You’ll want to establish customer loyalty, which means that they will only buy those products and services from you–and, eventually, will turn to your company for whatever needs you can offer solutions to.

Nurturing Customers into Brand Ambassadors

Once you’ve managed to build that loyalty, you’ll be able to nurture that customer into a brand ambassador. Consumers tend to trust other consumers much more easily than they trust companies, which is why brand ambassadors offer so much value. Keeping all of this in mind, the following are a few tips to help you nurture your customers through their customer journeys:

  • Initiate engagement following purchases – It’s important that you initiate contact with customers as soon as possible following a purchase. Many businesses use automation to send emails thanking customers for their purchase and even recommending similar products (in an attempt to cross-sell or upsell).
  • Send them relevant content – Continue nurturing your customers by sending them emails with content that is relevant to their engagement history (including their purchases and website behavior). The content you send should be informative and should help improve their brand experience. For example, tips on how to use the product that they purchased or general content relevant to their purchase.
  • Request and listen to feedback – Send your customers surveys or request that they leave reviews. Listen to what they have to say. Customer feedback is valuable to improving your business and can help you improve your relationship with your customers as well.
  • Reward referrals – You can encourage your customers to become brand ambassadors by implementing a referral program. For example, you can offer a discount for every customer that they refer to you.

Also Read How Businesses Use Brand Ambassador Programs To Increase Brand Awareness And Trust

The difference between the buyer journey and the customer journey is that the buyer journey leads up to the purchase whereas the customer journey continues following the purchase. It’s important that you have strategies in place to accommodate consumers during both journeys to help ensure the success of your business.

 

Inbound marketing will help you grow your business by attracting website visitors, converting them into leads and closing leads into customers

 

b2b marketing

5 Ways to Improve Your B2B Marketing Strategies

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B2B marketing can be a challenging endeavor, especially if you don’t have a clear cut marketing strategy in place. To have any hope of running a successful B2B marketing campaign, you’ll need to establish what your goals are. Once you’ve done so, you should implement marketing strategies that will support those goals and help you achieve them. The following are five B2B marketing tips that you should use to help improve your marketing efforts:
email marketing metrics 3

1. Streamline Your Email Marketing

Effective email marketing is vital to your ability to convert subscribers into leads and leads into customers. It’s estimated that 81 percent of B2B businesses have an email newsletter strategy. In addition, 40 percent of businesses believe newsletters are the most important component of their content marketing efforts. To get the most out of your email marketing strategy, you need to streamline it. This means that you should segment your email list so that you can personalize your messaging and target subscribers more effectively. Doing so will help ensure that your email campaigns are relevant to your email list, making it easier to nurture your leads.

2. Enhance Your Online B2B Marketing Presence With SEO

SEO (search engine optimization) is essential to putting your business in a position to be found by potential B2B clients. Many businesses will begin searching for information or solutions through Google. If you have a strong SEO strategy in place, your website will receive more exposure on Google’s SERP (search engine results page). This will bring in more organic traffic from Google. To receive the most exposure on Google’s SERP, you will need to rank high on their page. Most people will click on one of the top three results and rarely ever go past the first page. By optimizing your website for SEO, you will boost your page rankings. The following are a few SEO factors that contribute to Google’s page rankings:

  • Keyword use

Keywords help provide Google with information about what your website content is about. You need to use keywords that are relevant to your content and that are competitive, meaning that you have a chance to rank well compared to other websites ranking for the same keywords. Your keywords also need to match your user intent to ensure that they are actually being used by people who are in your target audience. Finally, you’ll need to properly optimize your site using these keywords, such as by using them in your titles, headers, body content, anchor text, alt image tags, meta titles, and more.

  • User engagement

High user engagement indicates that the content is of high quality, which is why Google pays attention to certain factors that indicate high user engagement, such as social signals (shares and likes), comments, and backlinks.

  • User experience

User experience is another element that indicates quality. Technical issues, such as slow-loading pages, hinder the user experience. As such, you need to make sure your website is technically sound.

Difference Between Branding and Marketing

3. Know Your Audience

One of the ways in which B2B marketing differs from B2C marketing is that B2B clients are much more specific. B2C companies tend to have more general audiences that they can market to. Because B2B companies have to target a more specific type of client, you will need to figure out who exactly your audience is. To do this, you should develop your buyer personas. Buyer personas are representations of your ideal clients. They help you define the different types of clients that make up your target audience. You can then use your buyer personas to guide all of your marketing efforts. For example, when creating content, you can make sure that the content you’re creating is relevant to at least one of your buyer personas. Additionally, you’ll be able to make sure that you address your entire audience by making sure to create content that’s relevant to all of your buyer personas.

4. Measure Your B2B Marketing Online Performance

Not all of your b2b marketing strategies may achieve the success you were hoping for. However, the only way to judge your marketing performance is through various analytics tools to monitor key metrics. By doing so, you’ll be able to determine what is working and adapt accordingly. The ability to adjust your strategy mid-campaign can help ensure that you’re not wasting resources on tactics that aren’t effective. In the end, measuring your online performance is critical to achieving a high ROI on your B2B marketing.

5. Take Advantage Of Referral Marketing

Capturing leads and converting customers requires you to build trust. One of the best ways to build trust is through another customer’s referral. Implementing a referral marketing strategy can help you attract new leads through word of mouth of existing and past customers. To do so, you should give existing customers an incentive to provide referrals, such as a discount on a product or service.

These are five B2B marketing strategies that can enhance your marketing campaign. Keep in mind that you should continuously monitor and adjust your B2B marketing tips as needed. Doing so will help ensure that you’re not pouring resources into tactics that aren’t working out for you and will help you achieve a higher ROI in the long run.

Download Our White Paper Guide To Learn How To Perfect Buyer Personas For Your Business
Interactive Marketing Examples

How Interactive Content Can Boost Your Inbound Marketing Efforts

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Marketing has changed drastically over the years, and as a result, marketers are finding new ways to stay relevant in an increasingly competitive landscape. The need to catch the audience’s attention has never been more intense. One technique that has proven quite effective is using interactive content to drive up inbound marketing efforts. In the sections below, we’ll discuss how interactive content works, its benefits, and some strategies you can implement to boost your marketing.

What is Interactive Content?

Interactive content is an engaging form of content that requires the audience to participate. That means instead of just reading or watching something passively, the audience must interact with the content somehow.

This particular type of content is so effective because it creates a more immersive and personalized experience for the audience. With this type of content, your audience isn’t just consuming the content but being an active participants. This makes the content more memorable and enjoyable.

So, what are some examples of interactive content? Well, if you have ever been on your favorite social media platform and seen a post that compelled you to engage in one way or another, that is one perfect example. More often, this content comes in the form of a survey, social media polls, quizzes, games, or interactive maps.

Why Invest in Interactive Content?

Modern-day marketers leverage interactive and personalized content everywhere, from landing pages and blog posts to social media channels. Here’s how using this content will enhance your marketing plan:

Better Insights into Consumer Preferences 

With interactive content, you can leverage the data obtained from quizzes, polls, and surveys to understand your audience’s engagement rates. This understanding helps you tailor your content to your audience’s preferences, resulting in more effective marketing and lead nurturing.

Boosts Conversion Rates

Since interactive elements demand user engagement, your target audience is more likely to take action. Brands like IKEA and Facebook have used interactive elements, such as virtual and augmented reality, to increase their reach and achieve higher click-through rates. If implemented correctly, interactive content can also be useful in your senior living marketing campaigns.

Unleashes Creativity 

The opportunities for creativity with interactive content are limitless. With these elements, you can create a unique brand experience that sets you apart from the competition. Many interactive and evergreen content pieces have reusable value, meaning consumers may return to engage with the content multiple times, driving continued engagement.

Improves Audience’s Experience 

Interactive and highly personalized content can enhance a prospective customer’s experience by providing useful information or tools that can help solve their problems. By providing valuable interactive resources, you can strengthen your authority in your industry and build a more loyal audience.

Better Brand Awareness

Interactive, branded content can help drive brand awareness by providing viewers with a unique, memorable experience. As more people find value in your content, they’re more likely to share it on social media, generating word of mouth and referrals.

Levels up Your SEO Game

Interactive content can help improve your website’s SEO by encouraging visitors to engage with it. As a result, the time visitors spend on your site increases, signaling to search engines that your content is engaging, informative, and of high value.

Interactive Content Strategies to Consider

If you want to enhance your inbound marketing strategy, tap into the various interactive content strategies. From polls to interactive landing pages, these strategies can help engage consumers, collect information, and increase sales. Here’s what to implement and how:

Quizzes/Surveys 

Quizzes or surveys are fun and engaging forms of interactive and personalized content that are becoming increasingly popular in inbound marketing. They are commonly used to educate, engage and entertain the audience, and when done creatively, they have a good chance of going viral.

For instance, social media polls and surveys offer an effective way to encourage audience participation on a given topic. The quizzes can capture valuable insights into the audience’s maturity in the subject matter and can help boost your inbound marketing strategies.

Interactive Infographics

Approximately 1 in 3 marketers admit that attracting user intention is their biggest marketing challenge. That is why interactive infographics have become increasingly popular in recent years. Unlike static or traditional infographics, interactive types use buttons, statistics, and quizzes to grab the audience’s attention and engage them deeper.

These infographics keep the readers on your site longer, increasing the chances that they will convert into leads or customers. The interactive elements also make your content more shareable, which can lead to increased brand awareness and improved search engine rankings.

And while creating interactive infographics may require more time and resources than traditional infographics, the benefits can be worth it. By providing an immersive experience for your audience, you build a stronger relationship and stand out in a crowded digital landscape.

Interactive Landing Pages

In today’s highly competitive digital landscape, interactive landing pages have become a crucial element of inbound marketing. The goal of a landing page is to generate conversions. Adding interactivity to landing pages can trigger a visitor’s desire, increasing engagement and the likelihood of conversion.

Interactive landing pages enable visitors to engage and participate, creating a unique user experience that differentiates your website from competitors. Thoughtfully incorporating visual and animated content will enhance your landing pages. This increases click-through rates and ultimately generates more leads.

The above techniques are a few interactive content marketing strategies you can implement in your business. Other options include the use of interactive tools such as calculators, interactive PDFs, interactive videos, interactive presentations, etc.

Bottom Line

For the longest time, inbound marketing has become integral to nearly all major businesses and industries. The simple reason for this is that, unlike advertising, inbound marketing focuses on creating value for the prospect and building long-term relationships. However, competition is quickly catching up, and marketers turn to interactive elements to make their marketing techniques more creative and innovative.

When creating interactive content, it’s vital to take a customer-centric approach. That means understanding the audience’s needs and preferences and creating content and experiences that speak directly to them.

brand development

4 Essential Brand Components

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There’s a common misconception that many people have that a “brand” is basically just the name of the company and the logo that they use. While these elements contribute to the overall brand of a business, the term “brand” is actually much more comprehensive than that. It involves many different components, which is why it takes a lot of thought in order to successfully develop your brand. The following are the four main brand components that you will need to address when building your brand and what kinds of strategies you can put into place to further develop those components.

1. Brand Identity

Your brand identity is how you want your brand to be perceived. It’s important that you know what your brand identity is and what you want it to be. If you don’t, how is anyone else supposed to know? You’re going to have a tough time generating brand awareness if you lack a strong brand identity. The following are a few steps that you should take to establish your brand identity:

  • Identify your mission

    What was the reason you established your company in the first place? What is your company’s goal? Consumers want to know what your mission is (and they don’t want to hear that it’s “to make a profit”) and it will reflect who you are as a company.

  • Establish your unique value proposition

    Your unique value proposition is what sets you apart from your competitors. It’s a statement of how your offer benefits your customers, how you will meet the needs of your customers, and what makes your offer unique. Every marketing campaign you run should align with your unique value proposition.

  • Create your brand’s visual identity

    The visual elements of your brand certainly factor into your brand identity. Just consider the logos and color palettes of some of the biggest companies out there, from Facebook’s simple logo and use of blue to McDonald’s golden arch and yellow and red palette. A strong logo that’s instantly recognizable is important, but so is choosing your colors. Different colors have different meanings and the colors you choose can have a psychological impact on your audience as well. For example, many fast-food restaurants use red and yellow because that combination of colors is thought to stimulate the appetite. Just keep in mind that consistency is key. If you decide to use shades of blue in your logo and on your website, then you should use those same colors for your social media pages, email newsletters, and physical location as well.

  • Increase brand recognition

    It’s going to take some time to get your vision of your brand identity out to the masses. You’ll want to generate awareness of your brand to do this through a variety of marketing efforts, such as building a website that emphasizes your mission and unique value proposition, creating content that’s optimized for SEO, using social media to engage with consumers and to post your content, and more. It’s also vital that you make sure your mission, unique value proposition, and visual identity are consistent across all platforms. If it’s not, it will end up hurting your brand identity.

Learn more about Brand Recognition

2. Brand Image

Your brand image is similar to your brand identity in that it deals with how your brand is perceived. However, whereas your brand identity is how you want your brand to be perceived, brand image is how your brand is actually perceived. Consider your brand image as the reputation you currently have with the general public. Take for example United Airlines. Not long ago, they updated their brand design in an attempt to strengthen their brand identity as a “thoughtful, modern, and innovative airline.” However, their brand identity and brand image are currently quite different from each other after numerous massive PR failures regarding their customer service. Keeping that in mind, the following are a few ways to build and maintain a positive brand image:

  • Spread your message via PR

    Use public relations to spread your key messages as well as relevant news concerning your company. You can do this through news outlets, trade publications, and even online blogs. Public relations will help you raise awareness of your brand and what you’re doing, thereby helping to improve your brand image.

  • Establish a social presence

    Social media is an incredibly effective way to build your brand image, whether it’s by sharing content with consumers, keeping consumers up to date on the latest news and product launches, spreading awareness of your message, and engaging with consumers on a personal level. In fact, you can even use social media to address negative comments. It’s a good way to repair potential damage done to your brand image as a result of a poor customer experience by showing that you care and trying to correct the situation.

  • Create high-quality content

    Content will help to increase brand awareness by bringing in more web traffic. However, it can also help to build your brand authority. By publishing content that is relevant to your company and to your audience (and that’s of high quality), you’ll become a trustworthy source of information, which — in turn — will help improve your reputation and increase brand trust.

Download Our White Paper Guide To Learn How To Perfect Buyer Personas For Your Business

3. Brand Culture

Brand culture refers to your company’s core values and how you set an example for those values. Businesses have always

emphasized certain values; however, those values were often things like “reliability” or “honesty.” Values that are more equivalent to basic ethics. While those are important values to hold onto, more and more businesses have begun taking moral stances as well as political stances in addition to generally accepted values. These types of values feed into your brand culture as well. Take Nike for example. They have taken strong social positions by running commercials backing Colin Kaepernick and recently touting the importance of the women’s U.S. soccer team’s World Cup win. These are branding efforts touting their championing of equality, which has become a part of their brand culture. The following are a few tips to help you establish your brand culture:brand recognition

  • Define your values

    Define exactly what your values are and how your company lives out those values. Don’t be afraid of taking a stance if there’s a particular stance that you want to take. Using the Nike example again, their backing of Kaepernick was considered controversial and plenty of consumers did not agree with their position. However, those that did agree with their position became even more strongly aligned with Nike’s brand. You can’t please everyone, but by sticking to your values, you’ll be more likely to strengthen your relationship with many of your customers.

  • Spread awareness of your values

    Let consumers know about your values by declaring them on your website or by encouraging discussion about your values on social media. Publishing content that backs your values is an effective method as well.

  • Ensure that your company reflects your values

    There’s nothing consumers hate more than a hypocrite. If you’re flaunting your support for equal pay across social media and in your marketing efforts, then you better be practicing what you preach. Your brand culture is incredibly dependent on your ability to embrace your own values within your company.

4. Brand Personality

Your brand personality refers to the human characteristics that your company has. Developing a brand personality is vital to connecting with your audience on an emotional level and for making your brand relatable. Because of this, make sure that you use the following tips to develop your brand personality:

  • Learn who your audience is

    Understanding your audience is something that you need to do from the very beginning. It’s an important step in building your brand identity as well. However, it’s particularly important when it comes to developing your brand personality. The way you present yourself and the way that you communicate should reflect not only who the audience is but what they expect. For example, if you have a younger audience, then a dry, formal tone may not resonate with them. However, if your audience is older, using younger slang and current pop culture references may go over their heads.

  • Engage with your audience

    While you can get your personality across in the content you write, it’s easier to do through engaging with people. It’s why using social media is so important. Your entire audience sees your interactions and it helps establish your personality a certain way. For example, Wendy’s has a reputation for having a playful personality because of their use of humor and the pretend feuds that they get into with other brands on Twitter.

  • Be consistent in tone

    If you’re going to be funny and informal on one platform, you need to make sure that personality carries over to all of the other platforms you use, both online and offline. If you’re inconsistent, it will hurt your ability to develop a cohesive brand personality, which will only confuse your audience.

These are the four main brand components that you will need to address when developing your brand strategy. A strong brand requires a strong brand identity, brand image, brand culture, and brand personality. Implementing a successful brand strategy that develops all four of these components increases brand trust, loyalty, and awareness.

Want a complete guide of story branding?

Digital Communication Tools to Help Build a Human Brand

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Whether you’re a brand looking to establish a human connection with your audience or an individual seeking to engage with peers and build professional networks, leveraging these digital communication tools will undoubtedly enhance your ability to connect, collaborate, and succeed in the digital age.

The success of your brand depends on much more than just convincing a potential customer to try your product. While in the past the customer experience has been based around the product being offered, these days, you need to look at the big picture. It’s not just about the customer experience in regards to your product. It’s about the emotional connection that they are able to form with your brand.

Customers don’t just want a product, they want a relationship with the brand that is selling them that product.  You need to focus on fostering an emotional connection instead of just trying to build awareness for a certain product. Fortunately, building an emotional connection with your audience is easier than ever before with the number of digital communication tools that are at your disposal.

The Importance Of An Emotional Connection

Customers are human beings. They have hopes, dreams, and feelings. In a world where their product choices are practically limitless, they will want much more out of a brand. They do not want to engage with a corporation. Customers want to engage with a brand that’s relatable on a personal level. Their desire for connection in such a world is not surprising. A brand that is able to touch them emotionally is going to make them more engaged.

There are many ways that you can do this; reinforcing the beliefs or perspective of your audience, supporting the goals or perspective of your audience, or challenging your audience to do greater things.

Creating a Brand with Social Listening and What Tools To Use

How Digital Communication Tools Can Help Foster An Emotional Connection

Engaging on an emotional level with your audience is easier than it’s ever been, as long as you make the effort to do so. The following are just a few ways that digital communication tools can help you to connect with your audience emotionally and to build meaningful relationships with them:

  • Video content – When it comes to content, few other forms are able to engage audiences on an emotional level like video content. There are numerous reasons for this. First of all, people consume visual content much more easily than written content. Secondly, you can use actors or even real figures that audiences can relate to on a personal level. Thirdly, you can emphasize certain emotions much more effectively through the production of video, from the look of how it was filmed to the type of music that’s used to how the video is edited.
  • Segmentation – Segmenting your leads and customers based on the data you’ve collected (via opt-in forms, surveys, and more) will provide you with valuable insight into who your audience is and how you can connect with them. It also allows you to personalize your content much more effectively, which will make it easier to drive engagement.
  • Social interaction – The use of social channels makes it easy to engage with your audience directly. Direct interaction makes it easier to build meaningful relationships. You’ll have a bigger emotional impact on those who witness the interactions on social media as well.

How to Improve Your Social Signals for SEO

Building a human brand will help you build long-term relationships with your audience based on real emotional connections. Use the digital communication tools available to you to emphasize emotion in your marketing efforts. Doing so will help your audience relate to you on a more personal level, thereby driving engagement with your brand.

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Real Estate Marketing Trends to Look Out

Real Estate Marketing Trends to Look Out for in 2023

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Real estate marketing changes by the minute, given the constant entry of new trends, thanks to digital platforms. Other factors that dramatically affect marketing in the real estate industry are the following:

  • Changes in interest rates
  • A growing population of remote workers who want to work and live where they choose
  • Shortage of available homes (There was a 38% shortage of home listings in November 2022 compared to November 2017-2019).

The real estate industry is fierce, and with the uptick in buyer demand, marketers must adapt to the changes. Your retail estate marketing business must evolve with the changing times to maintain a competitive edge. It also must embrace the current trends to generate more leads and close more deals.

This post delves into the top real estate marketing strategies shaping the industry in 2023 and beyond. The details will go a long way in helping you stand up, stand out, and show up for your customers to establish yourself in the market firmly.

Digital Showings and Virtual Tours

Many home buyers prefer digital home staging because of the convenience they offer. Your real estate marketing strategy can digitally showcase beautiful listings to your customers wherever they are.

Video walkthroughs are an excellent approach to this quest and stand out on social media platforms. Through virtual home staging, you can highlight the best features of a house as you narrate how they resonate with the customers’ needs.

Double the impact of your real estate marketing strategy by recording excellent videos as soon as you list a property. That will save you the drive whenever a client requests a virtual house tour. During live video calls, show off your expertise by answering questions live. Digital showings and virtual tours can reduce your real estate marketing costs by approximately 97%.

Incorporate Social Media into Your Real Estate Marketing Strategy

Pay attention to the power of social media in your marketing strategy. Take the best pictures of the homes you want to market and post them on your Instagram or Facebook. You can also leverage social media to display your warm personality, for example, by using humor in your posts. Your audience seeks engaging, informative, and educative material besides the promotional content they encounter.

Your social media marketing strategy must also be consistent. Posting once a month and not responding to your audience’s questions or concerns is the easiest way for your audience to ignore you. Look at the leading competitors and draw inspiration from them to build a memorable online presence with interested followers.

Boost Your SEO on Single-Listing Websites

Over 50% of homebuyers search for detailed information about real estate listings. They appreciate photos, interactive maps, neighborhood information, and real estate agent contact information. There’s no better way to achieve this quest than using single-listing websites. This is a must-have platform for every realtor that wants to:

  • Build brand awareness using their company logo
  • Showcase more photos
  • Capture detailed descriptions of their listings
  • Optimize their listings for search engines
  • Bring together all their favorite social media networks on a single platform

Sadly, only 30% of real estate agents use single-listing websites. Your real estate firm should not miss out. Consider leveraging the built-in lead capture forms to capture potential buyers’ contact details and email addresses. You can take your marketing strategy a notch higher by incorporating email marketing and newsletters.

Social media integration makes your listing website easy to share on all your social media networks. You’ll capture more attention on your listings and enjoy more referrals to boost sales.

Use Drone Photography to Provide a Better View

Today’s prospective buyers want to see high-definition aerial shots as part of property listings. The shots also provide a glimpse of the neighborhood to help buyers decide. To many buyers, the surrounding is often more important than the property when buying a home.

With aerial photography using drones, your real estate firm can create stunning aerial videos and images. You don’t have to spend a fortune to pull off powerful representations of a property’s surrounding environment.

The forecast is that 2023 will experience a housing market slowdown and a demand for exceptional real estate photography. That’s why you can’t afford to ignore this trend.

Target Millennials in Your Marketing Strategy

The U.S. Census Bureau reports that Millennials are now more than a quarter of the nation’s population. Their growing population contributes to a generational shift in the type of buyers in the real estate industry. Being the largest demographic cohort in America, Millennials have a strong voice. That’s why brands are vying for their attention.

You must understand this market segment if you wish to win them over. Learn all you can about their needs and expectations of the buying process, which is crucial to selling more homes. Millennials are more tech-savvy than previous generations. Pivot your marketing strategy to digital solutions, paying attention the following:

  • Millennials are two times more likely to use their mobile devices to search for properties on sale
  • A majority would be confident making an offer on a home they toured virtually
  • Most millennials would like to see 3D virtual tours and digital floor plans when window shopping for a home
  • Approximately 39% of millennials would not mind buying a home online

With that, take charge of your digital presence and marketing strategy. High-quality photos, tours, and social media presence can boost your digital marketing strategy. You also must have convenient communication channels.

Keeping Up with the Real Estate Marketing Trends

The real estate market changes rapidly, and you must keep up with the pace to carve out a niche for your business. An effective real estate marketing strategy you constantly fine-tune will establish you as a genuine contender.

Given the above trends shaping the real estate market in 2023, work with a professional real estate marketing agency. They can help you fine-tune and implement them for solid results. At Steven & Tate, we have a dedicated digital marketing team willing to take your marketing to the next level. Contact us to schedule a consultation.

 

Brand Leveraging: Partnering with a Positive Brand Brings Attention to Your Own

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Brand leveraging is quickly becoming more common as it becomes harder for messages to break through the clutter. This marketing strategy uses the power of an existing brand to support a company’s entry into a new, but related product category by communicating valuable product information to the consumer.

Utilizing recognizable pop culture can help you establish credibility. It adds emotion, and further draw in a potential customer- and more and more companies are jumping on the bandwagon.

Incorporating Recognizable Visual Stimuli in Brand Leveraging

Combining your product with recognizable TV and movie characters has a great impact on a customer.

For example, In Walmart’s recent commercial the owners of notoriously famous cars use their Grocery Pickup service in preparation for Super Bowl Brand LeveragingLIII. As Gary Numan’s futuristic song “Cars” plays in the background, drivers race to Walmart in iconic vehicles, including the “Ghostbusters” car, Lightning McQueen from “Cars,” Batman’s Batmobile, the “Dumb and Dumber” dog car, KITT from “Knight Rider”, Scooby Doo’s Mystery Machine, the “Back to the Future” DeLorean, and even Cinderella’s pumpkin carriage. Every generation can recognize this ad, there is something for everyone.

Walmart’s U.S. Chief Marketing Officer Barbara Messing said in a statement on the store’s website that this ad is the “biggest and first-ever cross-platform national marketing campaign for Walmart Grocery Pickup.

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Familiar Celebrity Voice Endorsements in Brand Leveraging

When a celebrity endorses a certain product, you can’t always see their face. Sometimes, the only thing you can recognize is their voice. However, this still has a powerful effect on potential customers.
If you’ve ever watched a television commercial and felt for sure that you knew the voice-over artist from somewhere, chances are, you’re right.

John Hamm’s Voice for Mercedes Benz

John Hamm, known for his role as Don Draper in Mad Men, voices Mercedes Benz commercials. His soothing and yet serious voice is hard to miss, further drawing in the potential customer. It also leaves the viewer curious and perhaps wanting more. The mystery of a faceless celebrity seems to have an effect of intrigue on viewers.

Julia Roberts for Nationwide Insurance

Without being in front of the screen, Julia Roberts can be heard discussing the benefits of being a member of Nationwide Insurance Brand Leveraging in some of their recent commercials. “When we were considering how to bring our message to life, we were looking for a familiar voice that would bring our brand attributes to life,” Jennifer Hanley, senior VP-brand marketing for Nationwide, said in a statement to Ad Age. “Julia Roberts’ voice brings an assuring, and confident tone to the campaign that resonates well with our target audience.”

Using Memorable Songs in Your Ads

Though large brands are known for their products and services, it is often the experience they create that actually builds loyal consumers and brand advocates. And what better way to strengthen a brand’s customer experience than to incorporate music within their ads.
It has the ability to create a wide range of emotions, tell a story, and can even reinforce the sale.

Queen’s “Don’t Stop Me Now” song in Toyota Camry Commercial Brand Leveraging

Many generations recognize this classic song and it’s easy to sing along to. It may even get stuck in the viewer’s head, which Toyota is definitely aiming for. It shows different people zooming off to various destinations in the 2018 model of the Toyota Camry. The timing of this song being is also significant, and the Bohemian Rhapsody movie has been widely popular in recent months. With the anthem “don’t stop me now” repeating itself in the background, this song was chosen to add to the ad’s overall message – which is – driving the Camry makes you want to say “let’s go places”.

Meghan Trainor’s “All the Ways” song in Target’s Same Day Delivery Commercials

This upbeat, positive song gets the attention of people of all ages, and not just the young ones. People describe Meghan Trainor’s music as uplifting and wholesome. Target was quick to involve her music in to their advertisement campaign. The commercial highlights “all the ways” Target can assist you.

No matter the tune, music is a brand’s leading tool to create an experience.

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Digital Advertising Trends!

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Regardless of its niche or size, every business must position itself in the market to become profitable. And with digital advertising trends coming up every now and then, it takes considerable effort, time, and resources to design an ideal marketing strategy that will work for your unique business.

As a marketer or business owner, digital advertising is crucial to the continuous growth of your products or business. But many do not know that keeping up with the most recent digital marketing trends often means spending your resources to update processes, upskill employees and acquire new systems and inventories. This explains why marketing takes a significant portion of the budget in most companies.

If you are considering updating or revamping your digital advertising strategy this holiday season, there’s a lot you stand to gain. Besides staying ahead of the competition, you also have the potential to reach new customers while building brand awareness. Here are some digital advertising trends you can implement in your business.

Personalization is Key

Before advertising any product or reserve, you must know who you target and why. Most businesses often run their digital advertising campaigns in silos without a keen understanding of their business, customers, and marketing goals.

For instance, if you advertise some digital products, you must first highlight the goals you want to accomplish. These goals should complement your overall marketing goals and be detailed enough to show who you want to target, when, and how often.

To streamline your digital advertising campaigns, you should have a personalization plan. Personalizing your digital ads means giving your prospects what they want when they want it. This helps optimize your campaigns and increase the chances that your prospects will take the desired action.

But how can you incorporate personalization into your digital advertising? Here are a few tips to consider:

  • Create in-depth customer profiles. Before you can target any of your prospects, you should group them accordingly. You can use AI technology to implement lead scoring and effectively segment your target market for proper personalization.
  • Leverage user data. A lot is nested in the user data collected in the various prospects’ touchpoints. A simple site visit, for example, can give many clues and insights into how the prospects interacted with the website and what needs improvement. You can then use these clues to create a winning video advertising campaign.
  • Use dynamic retargeting to re-engage your audience. Modern personalization techniques allow marketers to show certain ads to certain visitors, increasing the accuracy and effectiveness of digital advertising.

Video Ads are On the Rise

Video ads don’t particularly fall into the category of digital advertising trends since it’s been on the market for quite some time. However, this isn’t to say that video advertising is no longer relevant. In fact, recent statistics from Wyzowl show that 91% of businesses will use video as a marketing tool in 2023, up from 86% in 2022.

If you are wondering why the numbers favor video ads, you must first note that videos have a higher engagement than any other piece of content. Most people love visuals, and marketers are rethinking their digital advertising strategies to reflect this trend.

It’s worth noting that video advertising isn’t simple and often involves lots of creativity and expertise if it’s to make a huge impact. Here are some video advertising tips you can deploy to take your marketing to the next level.

  • Ensure the videos are relevant. You can have the best video ads in the world, but if they are irrelevant they will not convert. Relevancy in the digital advertising niche means different things to different people. But you can simply put it – the videos should speak to your prospects’ problems in a relatable, timely, and persuasive way.
  • Use user-generated video ads. Incorporating user-generated videos into your ads may seem impractical, but it’s easier than you think. All you need to do is ensure the video is edited for length and relevancy.
  • Use first-person experience videos. As the name suggests, first-person videos do away with voiceovers and spokespeople, centering the experience on the customers, business owners, founders, etc. The goal is to showcase some sense of presence, ownership, and authenticity of the brand.

Mobile Optimization

Mobile optimization is one of the digital advertising trends of 2023 that’s proving quite effective in the content marketing niche. With more people using their smartphones to access the internet, it’s becoming increasingly necessary for marketers to adapt their techniques to reflect this trend.

The other reason why a mobile-first marketing strategy is crucial is that new technologies such as AR and VR are predominantly app-based, making smartphones and mobile experiences the absolute winner.

By optimizing content for mobile, marketers and business owners can increase the visibility of their products and brands, helping drive the conversation. Using video content as an example, here are a few mobile optimization techniques you can implement:

  • Use square and vertical videos. Most videos with an aspect ratio of 4:5 are ideal for smartphone users and would work best for social media channels like Facebook and Instagram. For YouTube videos, an aspect ratio of 16:9 is ideal.
  • Keep the videos short. The video ads should be short and engaging.
  • Feature the brand or product message early. Since the video is short, ensure you feature the brand early enough. This ensures prospects know what you are promoting as soon as the ad plays.

Make Digital Advertising a Breeze

Digital marketing is one of the highly dynamic fields, and as a digital marketer, you need to stay up to date with the latest digital advertising trends. The three tips we highlighted above are just a few of the many, so feel free to research and try different techniques before picking the best.

Besides being on the lookout for new digital marketing trends, it’s crucial to constantly review your digital marketing strategies to know whether they are effective. You can seek expert help when monitoring your digital marketing strategies to ensure you have the upper hand.

 

Dan Gartlan helps companies of all kinds drive their business initiatives and achieve their goals. He does this with strategic marketing programs that deliver results. As President of Stevens & Tate Marketing, he has over 20 years of experience across various industries. He continues to share and build brands nationwide.

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Soft Sell Advertising: What it is, Why it works, and How to Execute

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When it comes to advertising, businesses as a whole tend to be aggressive. They let you know exactly who they are, what they do, and why you should buy from them. Even in inbound marketing, companies will try to tie the topic of conversation in with their products or services in some way. However, this isn’t the only course of action. You can also reach your target audience and successfully engage them by advertising in a more subtle manner. Such a strategy is known as soft-sell advertising.

What Is Soft-Sell Advertising?

Soft-sell advertising is a more subtle form of advertising. The goal behind soft-sell advertising is to evoke a positive emotional response. The idea is that the customer will then subconsciously connect the response they had to the brand that invoked it. Businesses that implement soft-selling marketing will often create ads that are warm or humorous, as these tend to be the ads that invoke the most positive feelings.

The History of Soft-Selling

The idea of soft-selling first emerged in 1914, when Theodore MacManus published an ad that would become the model for the soft-sell. The ad was essentially an essay on the burden of being the best in one’s field. The ad was for Cadillac, yet Cadillac wasn’t mentioned a single time. Nor was there an illustration that ran with the ad. Yet the ad was incredibly successful.

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The Benefits Of Soft-Sell Advertising

The following are some of the reasons why you should incorporate soft-selling advertising into your marketing strategy:

  • Less pressure on customers – Because soft-sell ads don’t push products or services, customers will feel less pressure to buy. The pressure is apparent in hard-sell ads, and it’s often off-putting. Using soft-selling ads, you give your audience the ability to discover your brand and make a purchasing decision on their own time.
  • Increase brand awareness – Even though you’re not pushing your brand into their faces, audiences will be more likely to share your content. The reason? People don’t share ads, they share content. When you create a soft-sell ad, you have to focus on the quality of the content and not on the sale. If you are able to create high-quality content that invokes a positive emotion, your audience will share that content. People will share content that elicits a positive reaction to their friends, thereby increasing your brand awareness.
  • Build more trust – Another result of having to focus on content quality is that you’ll build more trust. You’re basically offering your audience something of quality without asking for something in return. This shows them that you care about more than just sales. As a result, they’ll be more likely to explore your brand further. Not to mention that building trust is essential to building long-lasting relationships.

Examples of Soft Sell Advertising

Soft sell advertising has grown in popularity, both in regards to inbound marketing and outbound marketing. The following are a few examples of effective soft-selling ads:

  • Yeti – Yeti is a company that sells coolers and outdoor accessories. They filmed an entire series of videos called Hungry Life showing a well-known chef spending time in nature, where he picks plants, goes fishing, and prepares his meals outdoors. Although Yeti’s coolers do make an appearance, they are never showcased or talked about. Yeti is obviously targeting a specific audience by showcasing a specific lifestyle. That audience will then make an emotional connection between that lifestyle and the Yeti brand.
  • Burt’s Bees – Burt’s Bees uses their founder as the spokesperson. This is perfect because he essentially represents their main buyer persona. The Nature of Burt video introduces Burt, who explains who he is. He’s likable and funny, and their target audience can relate to him. What makes the video so effective is that it builds an emotional connection between the viewer and Burt, all without ever promoting the brand or its products.

Implement a Soft-Sell Advertising Strategy Today

Because many companies focus many of their marketing efforts on generating brand awareness, they tend to be overly aggressive. However, soft-sell marketing can be incredibly effective in terms of engaging your audience and building trust. As such, you should be sure to include soft-sell marketing tactics in your inbound marketing strategy.

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