Thursday, May 29, 2008

Back to the Basics of New Home Marketing

New home builders and developers are continuing to refine marketing budgets and look for ways to differentiate themselves in a tough market. This is a great time to evaluate your marketing budget and go back to the basics of marketing. Take the time to review this simple exercise with your team and refocus your efforts where they will most benefit your company's goals.
Seven basic steps of marketing
1. Know your company
2. Know your market (top 3 competitors)
3. Know your buyers
4. Be ready to do business
5. Reach your buyers (target market)
6. Sell and manage sales
7. Monitor and control results
Once you have reviewed the 7 steps of marketing, look for ways to improve. Does your sales training have the tools and training they need to sell your homes? Are you doing a good job of differentiating your homes and communities from your competitors? Are there unmet needs in the market that you could fill? What are your core competencies? Can everyone on your team give the two sentence elevator speech on the company? How can you improve your marketing mix to reach your target market? Are you employing low cost solutions such as public relations, social media and Internet marketing.