Way back at the start of the last century, John Wanamaker commented, “Half the money I spend on advertising is wasted; the trouble is I don't know which half.”
This maxim, has been regularly quoted since by many a prudent Sales & Marketing Director, and while it may bring a smile to many controlling the purse strings, those being honest will acknowledge an air of realism in the suggestion.
One wonders however, with the change in marketing spend profile brought on by the increase in Social Media promotion, whether the implication that 50% is wasteful should be reconsidered.
Social Media Marketing allows us to become considerably more focussed on our target market, and liaise / correspond with an audience who have expressed an interest in our products and offerings.
Not only can clients opt in and out of subjects and discussions specifically of interest to them, but they will keep track of sales availability, and comments from happy and satisfied purchasers, all leading to an increase in confidence prior to them even visiting showhome and information centres.
One major developer commented that conversion rates on site improved 3 fold as clients knew all about the development, product, availability, and price, before they came to the site. And while this obviously appeals to the customer, think of the benefit to the sales negotiator who is spending much more time with pre qualified potential clients.
Social Media is changing the way our industry is projecting itself to the market place and I would suggest that even Mr Wanamaker would acknowledge that today’s methods are somewhat more efficient than those in which he participated.
More information on Social Media in the New Homes Industry is available on our web site at ... www.stuartrennieconsulting.co.uk, or by emailing ... stuart@stuartrennieconsulting.co.uk
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