5 tips for building your 2022 real estate marketing budget
If you want to develop a strategic (and effective) marketing budget for 2022, there are several important factors you need to consider. From creating markers for measurement to starting your planning early, here are some tips that will come in handy.
With a new year on the horizon, it’s important to start planning for 2022 – and that includes how effectively you want to market your business.
When building your marketing budget for 2022, I suggest taking a holistic approach to your marketing strategy and how best to leverage the new and existing channels available to you.
Your budget should consider a diverse marketing mix including print, digital, social media, mobile, direct mail, event marketing and more. Here are some tips for building an effective and strategic marketing budget for 2022.
1. Consider the long-term investment
When developing your marketing budget for 2022, think of marketing as a long-term investment in your business, not just a campaign component.
In our industry, marketing has become a staple of business and should be treated and approached with the same emphasis on strategy and investment as any other part of your annual plan.
Think about how best to anchor and support your goals and objectives with targeted marketing approaches throughout the year.
2. Plan early and often
While the end of the year is a popular time to plan, it’s wise to take inventory early and often when it comes to your budget and marketing strategy.
It is essential to look at the successes and failures of previous years and pivot as necessary while reinvesting in areas that give you a higher return on your investment.
3. Base your budget on goals
What do you want to accomplish in the new year and what marketing strategies do you want to implement? Don’t guess at these elements, but instead strategically tailor your year to reach key milestones.
Your budget and marketing goals should be an extension of your business strategy. This will help set a clear intention and plan ahead.
4. Develop markers for measurement
Set markers for measurements throughout the year and keep this in mind often. It is important to check the performance of your campaigns and any adjustments to be made, ensuring the flexibility to change if necessary in order to restore funds in the areas giving you the best return on investment.
It can vary from person to person and from company to company. For example, you might want to invest some of your budget in tracking a QR code, Facebook ad campaign, or Google Analytics.
5. Follow a hub and spoke model
Your marketing budget should follow a hub and spoke model with a central point to send direct marketing efforts for conversion. It could be an agent website, Instagram page, or other channel. Make sure your budget is aimed at strengthening this model throughout the year.
To conclude, when developing a strategic and effective marketing budget for 2022, it is important to consider several elements. These include creating measurement markers, basing your budget on goals, having a hub and spoke model, and planning early and often. Taking these different factors into account will ensure a successful marketing strategy for the New Year.
Rainy Hake Austin is the President of The agency in Los Angeles, California. Connect with her on Instagram.
