Direct response marketing is a form of real estate advertising designed to solicit a direct response which is specific and quantifiable. This form of real estate advertising can be effective in online real estate marketing as well as in offline real estate marketing.
It is a different concept than all other marketing strategies because it's based on two way communication between you and the prospective customer.
Marketing that requires a direct response is very effective in the sense that with it, you can quantify exactly how well your real estate advertising is performing.
Advertising strategies that require a direct response have the ability to bring your real estate services to the end consumer like no other form of advertising can. Being able to establish direct marketing possibilities between you and your potential customer can require a bit of creative thinking, but well worth the effort.
Because direct response marketing can be so competitive, the need to hit a home run can drive a lot of agents to spend fortunes. But in the new and emerging web 2.0 Internet environment, spending a fortune is NOT required. There are a few 'best of breed services' in areas where you can grow your real estate business, that didn't exist 5 years ago.
"Web 2.0" is commonly associated with website development and design that provides interactive information sharing. Examples of Web 2.0 include web-based communities, hosted services, web applications, social networking sites, video-sharing sites, wikis and blogs.
A Web 2.0 site allows its users to interact with other users or to exchange website content, in contrast to the standard and traditional non-interactive websites where users are limited to the passive viewing of information that is provided to them.
Direct response marketing works!
It works because it addresses the one element of human nature that we all like: personal communication. We all want to be treated as individuals - spoken to individually and personally.
So, if direct response marketing is so powerful, how can real estate marketers - real estate agents use it effectively? Direct response advertising is characterized by a few primary elements:
An offer - What Is An Offer?
It is sufficient information and a reason for a prospect to take action and call. It's an incentive to get your audience to raise their hand and be willing to talk with you. It's a compelling reason to respond. Your specific offer will factor about 30% of your direct response marketing success.
An explicit "Call To Action"
Be prepared to offer multiple, uncomplicated options as a way to respond, such as real estate hotlines, (toll free number), a web page, as well as an email option.
Right Message - Right People
It is imperative that your message gets to the people who want what you are offering and are able to buy what you have to sell. Statistically, about 60% of that success depends on your message getting to the right people. It's very easy for the wrong people to say "NO".
A good postcard marketing campaign
can elicit a very high response rate and well worth your attention.
On the other hand, an effective text message marketing campaign can produce an even higher read and respond rate. (Text messages have over a 90% read rate compared to an 8% read rate of e-mail and 2% of print.)
The Direct Response Marketing Creative
That leaves about 10% attributable to your creative. With a clearly identified target market and a compelling offer, putting together "the creative" can actually be fun and it is definitely not rocket science or some secret magic formula.
The secret to a successful online real estate business is all about building relationships. Establishing a trusting relationship with your potential online clients takes time, but it is well worth the effort. Social networking sites are the inexpensive access to prospects.