It’s hard to believe that the noughties began almost 20 years ago!!! For some of us it may only seem like yesterday that we were gearing up for the Millennium and in that time, the world has changed drastically. When it comes to running a business there are lots of things to take into consideration and learning from the past is one of the most effective ways to improve. Here, we take a look at some fantastic business lessons that you as estate agents can learn from the 00s.
Lesson 1: Traditional marketing methods no longer work
Tried and tested marketing activities that were once popular just don’t have the same effects as they once did. Whether you want to admit it or not, advertising just doesn’t get enough response in order to justify the costs and you may even find that the expensive website you have, just isn’t creating the appropriate leads and clicks. Nowadays, effective marketing comes down to creating high quality content, which is then shared across the web. Not only content that is written well but also content that is of real value to your potential clients, securing your brand reputation. The aim of content marketing is to provide valuable information to users for free, creating a trusting relationship with them, eventually leading them to make a purchase.
Lesson 2: Social media should be embraced NOT feared
20 years ago if someone wanted more information about your company they would visit your office. Nowadays, the first thing people do is search for your company online. As a result of this, you need to make sure that your business can be found easily. Having active social media accounts is just one way of staying ahead of the competition but also allows for constant business to consumer communication. Social media is free and a great way to get word out about you and your product.
Lesson 3: Sell the benefits of your business, not the products
Cold calling used to be a popular strategy to make sales in the estate agency sector. However it is not as effective nowadays. The hard sale doesn’t work and instead you need to create trusting relationships with potential clients before converting them into a sale. Instead of telling the world how good you are, demonstrate how you are vital and the answers to all their problems.
Lesson 4: A tracking system in place is crucial
The world is evolving and there are now a number of different marketing strategies for estate and letting agents. Even though they weren’t available when your agency first opened, it doesn’t mean you cant implement them now. During the 00s, agents would leaflet and use flyers to advertise their business but think about it, what is the point of putting in all the hard work if you don’t know how it’s being received or what people are looking. With a tracking system in place, you can see who is clicking on links and what they are looking at on your website eventually nurturing these leads into sales.
Lesson 5: The property sector needs to be modernised NOW
The world is changing and therefore we need to change the way we think, live and do business. Businesses that fail to understand or even investigate this will ultimately fail. You, as estate agents, are currently sitting on the brink of a huge opportunity in the sector and one unlike any that has gone on before.
If you have any questions or want to find out how to have a successful estate agency in the 21st century, then get in touch today.
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We provide marketing automation and artificial intelligence estate agency software to estate agents. We work with thousands of traditional estate agents to transform them into more digital and data driven businesses, as this is the only way we believe they will exist in the next 5 to 10 years.