Online Ads Prove Their Worth With Big Returns
Online advertising is proving its worth for letting agents willing to invest – with some now bringing in leads worth ten times what they’re spending.
Use of this form of marketing has increased in recent years across the property industry, although there’s still a reluctance from some agency owners unsure of the returns they’ll see.
One proponent of the value of online ads is Ali Durrant, Director at Concentric Property, who’s been overseeing the Wolverhampton branch’s paid-for marketing since early 2021.
By implementing a strategy and supporting his team to be able to respond effectively and convert leads, ad spend is now helping their business grow and thrive.
He explains: “I’ve developed a sales system and team of business development managers to lead prospects through a nurture campaign, ensuring we get the highest return possible on the ad spend and we don’t just end up with lots of new prospects stuck in our inboxes.
“I try and keep our marketing messages fresh through writing new content, coming up with new offers and measuring what’s working. By evolving sales systems, scripts and nurture techniques, within 18 months we were generating ten times the amount of money that we were spending on advertising.
“I’ve spoken to others who may be reluctant to spend the initial outlay to get an ad campaign started, but we know that any business needs to be constantly marketing to grow – without marketing you’ll likely stand still or even go backwards.
“There are lots of experts out there who can support with advertising, so I’d definitely recommend using one of those to ensure you get a good return of leads for your investment!
Ali adds that paid-for marketing has not only grown their business, it’s totally transformed it.
“We’re no longer simply here to sell and let properties like traditional estate and letting agencies, we have more services than ever – with more emphasis on off-market sales and acquisitions, buy-to-let investor services, and a landlord rescue service.
“By marketing to various different avatars and building a strong database of nearly 10,000 contacts, we have an audience to receive our message – particularly when we share landlord and investor education content which is great for building authority and an expert reputation.
“And we always have people to call to generate new business and keep our diaries active!”
And Ali is by no means the only agent seeing success through paid-for marketing, according to Sally Lawson – founder of Concentric Lettings who now mentors agents across the UK via her coaching business Agent Rainmaker.
Sally’s seeing a growing number of agents incorporating online advertising as a key part of their business strategy – and those putting in the hard work, like Ali, are reaping the benefits.
“At a time when every business is looking to tighten budgets, putting your faith (and your money) into online ads can seem like one of the unnecessary costs agents may be looking to get rid of. But in reality, this is a crucial way for agencies to bring in new leads.
“The way we operate has largely gone digital – it’s no longer enough to put pictures of your available properties in a window and wait for passing trade. The internet is now your shop window and if you’re not displaying the services you offer then you’re at a disadvantage compared to all the agents who are doing so.
“The clever thing about online ads is that you can also target specific audiences - filtering down those who ‘walk past’ your shop window to people whose needs match the services you offer.
“When you consider agents like Ali are seeing a ten-fold return on their investment, it shows exactly how valuable this form of marketing is – and why agents who haven’t already started investing in online ads need to do so now.”
Find out how Agent Rainmaker can help your agency here.