As a homebuilder, you can agree that a good marketing strategy is crucial to the growth of a company. With the constant changes in technology providing so many marketing options, it is often difficult to decide what kind of marketing strategy to utilize when you want to attract more potential customers for new homes or remodeling or build confidence with the ones you have. The first step in deciding what marketing strategy will work best for you is to determine your goals. What do you want your marketing strategy to accomplish?
The two main reasons why companies invest in marketing is to: 1) reach more potential buyers and 2) build a solid relationship with their current clients. The two primary ways in which we see most homebuilders doing this are through advertising (such as print ads in local magazines, direct mail, radio ads, and online displays or ads on Google) and by creating captivating content (such as blog posts, ebooks, and videos covering topics like what to consider before a kitchen remodel or how to choose what kind of shower to install.) While either one can be effective, one strategy may be more effective in reaching a certain goal than another. So, how do you choose between buying ads or producing valuable content?
Invest in advertising if you want to…
Promote Positive Brand Awareness
When done correctly, advertising in an excellent way to promote positive brand awareness and establish media presence because of it’s bold visual design. Creative ads can trigger a quick emotional response in their viewers, which will then encourage them to purchase a product or service. When consumers consistently see a company’s logo, they will begin to form an opinion about that company based upon the emotions triggered by advertising or their experiences after having purchased the promoted product or service.
Keep in mind that any negative impact will greatly hinder consumer receptiveness to your company in the future: 84% of 25 to 34-year-olds have left a favorite website because of intrusive or irrelevant advertising (HubSpot).
Reach More Consumers Immediately
If you’re concerned about the increasing quantity of consumers you are reaching in a short term (1-3 months), you should look to investing in your advertising budget. Ads can run 24/7, reach a global audience quickly, and are as limitless as your dollar, and can be implemented quickly and start sending traffic your way as soon and as long as they run.
Quickly Target the “Right” Audience
Technology has changed advertising insomuch that companies can now customize their ads and then pick and choose their viewers based on consumer demographics. This advertising tool works well for companies who are trying to attract a large, yet specific, audience. However, this method has its drawbacks. Although this method is intentional, it has the potential to accrue a lot of shallow leads because it does not take into account the individual and where he or she may be in the buying process.
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Create captivating content if you want to…
Build Long-Lasting Relationships with Your Audience
Companies who attract potential clients with captivating content build longer-lasting relationships with their audience than those who strictly use advertising. This is because content stimulates conversation. Conversation allows businesses to interact with consumers on a personal level and when this happens, trust forms.
Rather responding out of emotion triggered by a series of flashing graphics, buyers are able to explore their interests and have their questions answered by professionals. This allows them to make an informed choice when purchasing your product or service. People love to feel confident when making a decision and naturally share their good experiences with their friends and family, especially through social media, which can be extremely beneficial to your company.
Attract Quality Leads
Content-based marketing focuses on attracting quality leads more so than the quantity of contacts. Why should you be concerned with quality over quantity? The more people who contact you, the better, right?
Let’s look at the numbers. Say you run an ad that gives you 300 contacts every month, but only two of them turn into buyers. How much time, energy, and money have you wasted filtering through the list? A lot. Depending on the ad’s cost and the profitability of what you’re selling, you could actually be losing money. However, if you narrow your scope and market with content, you attract interested people who are already looking for what you have to offer. At the end of the month, you may only have 15 contacts, but eight of them might convert into customers. By investing in a market strategy that generates quality leads, you will grow a stronger business.
Save Money
Who doesn’t love to save money? Companies who choose a content-based approach to marketing spend 62% less than those who choose traditional advertising (HubSpot). Three out of four channels that promote content cost less, than those that promote advertisements. But does a low-cost marketing strategy mean less-profitable results? No way! Click here to see the revenue comparisons of traditional advertising vs. content-based marketing.
At Baker Labs, we help companies grow through inbound marketing, a content-based approach to customer acquisition. If you are interested in learning more about this strategy or think your company would benefit from this marketing approach, feel free to contact us.
We would also be more than happy to provide you with a free website evaluation and inbound marketing consultation. Simply fill out this form.
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