Why marketing matters now, more than ever!
As the market cools and cost of living rises, one marketing expert is encouraging businesses to double down on their marketing spend & strategy.
Bespoke Media chief executive Nic Fren says marketing is an investment, and you go all in or nothing, especially in this market.
Starting his marketing agency in 2018 as the Sydney boom was crashing, the eastern suburbs real estate agent knew all too well the value of getting your brand out there & being seen. “I’d been an agent for around 14 years by that point, '' Mr Fren says. “Having relocated from Newcastle to Sydney’s east, I understood the need to make sure everyone in my core area knew who I was”.
“I have a product that no one in the industry has” he says, and while I had a strong network of agents here in Sydney, I needed more people to know who I was if I was to grow the business. Through tenacious & sometimes risky strategies, I’ve been able to grow my brand from a handful of Sydney clients, to an international network.
Not to rest on the results of yesterday, Mr Fren explains the need for high energy, high visibility & the importance of staying relevant. “You would be naive to think that you wouldn’t be replaced if you take your foot off the gas.” I see the next generation coming through who are hungry for success and nipping at my heels, which is why it’s extremely important that I’m seen more than they are.
However, it’s more than just posting on social media or dropping a few hundred dollars on paid ads. It’s essential to recognize the difference between marketing and advertising.
Marketing is the umbrella that brings your entire brand strategy to life. Advertising, Community Involvement, Customer Support, Distribution, Market Research, Media Planning, Product Pricing, Public Relations, and Sales Strategy, to name a few.
While advertising is very “now” thinking. Short term gains versus long term success.
Typically when a market turns, I see one of two things. Firstly, businesses double down on their spending or secondly, businesses restrict their spending.
The risk businesses run when reducing their marketing strategy in a cooling market is your potential customers may start to forget about you.
More money spent on marketing & branding means more eyes on you.
More eyes on you mean less eyes on your competitors.
Less eyes on your competitors gives you a higher profile.
A higher profile gives you more chance of being called into a listing presentation.
More listing presentations = more opportunities to list property.
More opportunities mean more listings.
More listings mean more sales.
Written by Bespoke Media Group