Follow The 80/20 Rule When Marketing Your Real Estate Business!
How understanding and using the 80/20 rule could dramatically increase the amount of new deals you get each month.
What's the 80/20 rule?
What's the 80/20 rule I hear you cry? Well, if you haven't heard of it, you're in for a surprise. If you have heard of it, it's still pretty fascinating! Pretty much everything in the world follows this rule and it can be used to help you when marketing your business. It is important to understand this rule, as it is a fundamental law of nature and governs everything we do on the planet.
The 80/20 rule (also known as the Pareto Principal) states that for many events on earth, approximately 80% of the effects come from 20% of the causes. Lets have a look at some examples:
- 80% of the planet is water, and 20% of the planet is land.
- 80% of all land on earth is in 20% of the countries.
- 80% of the sunshine is in 20% of the countries.
- 80% of the crime is committed by 20% of the people.
- 80% of the traffic jams happen on 20% of the streets.
- 80% of health issues are experienced by 20% of the people.
- 80% of sales come from 20% of clients.
This rule, is the key to unlocking success when advertising to your target audience and trying to grow your business. If you understand that 80% of marketing results come from 20% of your marketing investments. You can then focus your energy and investments into the 20% of marketing campaigns that will produce the most consistent leads, appointments and deals for you, rather than the other 80% that won't.
Once you understand the 80/20 rule and implement it into your marketing, you will be way ahead of your competition. The 80/20 rule should always be part of you social media marketing and should follow this structure; 80% of your marketing should be geared towards adding value and 20% should focus on promoting your practice.
80% Value - Adding value to your clients & potential clients:
Adding value is the most important part of not only marketing to your target market, but also standing out from your competition and giving you that edge that keeps your pipeline consistently full.
If you over deliver by adding value to what you already offer and go the extra mile for your clients, the by-product of this is a hugely successful Real Estate business with a long-term customer base and consistently filled pipeline that will not only expand your business and brand but keep your current clients happy and content.
It is about adding extra value to everything you do. It's simply not enough these days to carry out the services you were paid to do. You have got to add value by massively over delivering and you can do this whilst still generating good profits. The truth is, the more value you add the bigger your profits will be. Profits are directly linked with the value you add and money is just a byproduct of value.
If you want to grow your business, don't focus on growing your business or making more money, focus on adding more value and going the extra mile for your clients and the rest will take care of itself.
Apply this concept correctly and the benefits to your clients will be enormous and more importantly, you and your business will flourish. The demand for your services will increase exponentially and you will never have to worry about having an empty calendar and no leads again.
20% Promotion - Self promotion and the promotion of your business:
Self promotion and the promotion of your business has never been easier and more important since the rise of social media. It is now easier than ever to get yourself and your services in front of people. And not just people, but your ideal target market, your perfect clients, and the people you want to do work with.
Promotion of your business is one of the most important parts of growing a business and being able to help more people. But without value being the driving force behind all of your marketing, it will seem too pushy and insincere. These days, as there is so much on social media, you need to be able to push through the noise and stand out from what everyone else is doing. This is why value is king, and a solid marketing strategy based around this is the key to long lasting success.
You can do all of these steps yourself or simply ask whoever does your social media advertising to start using this method. We really hope you can utilize these tips in your business and start generating more leads and appointments consistently every month.
If, however, you want us to take away the complexity and do it all for you, we would be more than happy to do so. That way you can save yourself the time to focus on your clients and closing more deals so we can send you more. If so, please click the link below to schedule a free call with us so that we can discuss the best way to help your business with a custom tailored digital marketing strategy.