Newspaper article The Northern Star (Lismore, Australia)

Spend Money to Make Money; Well-Considered Marketing Expenditure Is Worth Its Weight in Gold to a Seller

Newspaper article The Northern Star (Lismore, Australia)

Spend Money to Make Money; Well-Considered Marketing Expenditure Is Worth Its Weight in Gold to a Seller

Article excerpt

HOME OWNERS have been sceptical about spending money on marketing. Vendors have often considered money spent on marketing an unnecessary cost.

But those attitudes have changed quite a bit. Rather than viewing marketing as an unwanted expense, many vendors view it as contributing to the potential profit of the sale.

Iave always said that , advertising most properties online is not enough and now thereas comprehensive research to prove it. Independent analysts RP Data spent a year tracking thousands of individual campaigns to determine how important the marketing mix is. They looked at the benefit of combined print and online campaigns compared to those using print or online only.

In a sample of 8,500 Sydney listings, those with advertising in both print and online had an 83% selling success rate compared to the low 60% range for those advertised in print or online only. Other benefits of combined campaigns included faster sales and less price discounting by vendors.

Some vendors still feel that the internet is enough to attract buyers. My recommendation is that web listings are complementary to traditional display advertising, rather than an alternative. I agree that print marketing can be expensive a but itas also incredibly valuable.

Marketing is an investment that is highly likely to result in a better sale price.

Hereas why. Itas well-known in marketing that buyers often need several impressions of a product before taking action. One ad might not do the trick, especially with buyers in no rush to move

Other buyers will act on one impression, and these are usually the buyers actively looking for a new home. Most of these buyers will see your property online as theyare looking every day

But what about the buyers who donat need to buy but are open to it if a special home comes along? …

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