29 Jan Don’t Stop Now: The Risk of Cutting Back Marketing in a Seller’s Market
Every now and again we are asked, “why spend money on marketing when the homes are selling themselves?” It’s certainly a reasonable question but the reality is homes don’t sell themselves. Homebuyers are often confronted with dozens of considerations, both practical and emotional. It’s a precarious, if not fragile process, to get to the finish line and complete a transaction. In fact, the percentage of pending sales failing to close can be as high as 25%.
On-target project branding, advertising and marketing communications builds confidence in homebuyers and adds value all the way through the sales funnel. By maintaining visibility for a project through closeout, you can reassure closed homebuyers of the good choice they made, create urgency with prospects, and even increase margins. The best approach in a strong seller’s market is to start strong, maintain your presence, and then slowly wind down as you reach closeout. Another ancillary but important benefit is increased exposure and reputation enhancement for the builder. Let the market know you’ve completed another successful project. It’s likely our next project is already underway and you can leverage the cumulative effect of consistent exposure and visibility.