Understanding Advertising Components – Marketing Basics

Before advertising for a real estate investing business, the business owner should understand the components of advertising. Placing an ad in a newspaper, posting door-to-door flyers or using a voice broadcast message are all useful advertising methods; however, the advertising will not be successful unless the real estate entrepreneur designates a fitting message with the right medium in the targeted market.

The three main components of advertising, also known as the three big M’s, are: the message, the media and the market. To briefly summarize what each component is: the message consists of the words used in the advertising; the media is the type of advertising; and the market is the targeted group the advertising is meant to reach. Now, the brainstorming can begin. When engaging in the brainstorming session to determine your message, medium and market, you can either do this by yourself or include other associates. The more minds the better the flow of ideas becomes.

To start, asses the market you are attempting to reach. In order to reach a high level of success with your advertising, narrow down your market. You want to make sure that you are targeting potential motivated sellers. Do not necessarily think that a larger, broader audience is better than a narrow, targeted audience. On the contrary, it is much easier to shape a message and pick a medium when you have targeted your market.

Once you have narrowed down your market, it is time to craft your message. This can be anything from an “elevator speech” to an eye-catching phrase. Remember that people are bombarded with advertising practically 100 percent of the time. This puts an added pressure on making sure that your message will appeal to motivated sellers. Center your message on what your business can do for the motivated seller – how will working with you benefit them.

Finally, choose the medium for your advertising. This can include post card mailings, newspaper ads, television spots, etc. A good place to start is to analyze what other investors are doing – where are they advertising? Analyze how their choices have been successful for them or detrimental to their work. The results of your analysis can be a start for your decision making.

Once you have finalized your decisions on your market, message and medium, be sure to have a system in place to track the success of your advertising. Always come back to the drawing table after assessing the effectiveness of your advertising. If the advertising is not working to its fullest potential, ask yourself the following questions: Does my message need to be tweaked? Is this the right medium for my market? Is my market too narrow or too broad?