In tough times, rely on free grassroots marketing and relationship building to get you through it, writes Chicago broker Julie Busby.
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As the saying goes, “When times get tough, grassroots marketing takes a tougher turn.”ok maybe they We don’t say that, but we at Busby Group think so.
For us in Chicago, volatility is the market theme for 2023 so far. Since January we have had many highs and lows, but we may be in the middle of a plateau now.
My response to volatile markets is always the same. It’s steady, consistent marketing focused on people who have to move, not just those who want to move. This year, our marketing leaned heavily toward grassroots activities, whether cheap or free, with some of the best results. Here’s an overview of what worked best for us.
Build relationships with agents
In a volatile market, relationships with other agents are more important than ever. Call, email, or text agents in your area to share upcoming listings, share what current buyers are looking for, or brainstorm ideas based on new markets.
Host an agent-only event. We usually host and brainstorm market ideas during listings. It’s a win-win. In addition, we will expand our broker network across the country. This gives you more opportunities to refer back and forth and share ideas. We have closed several deals this year through deep relationships.
Leverage existing events
My team and I are always looking for creative ways to market our brand and products and stay connected to our territory, especially in a changing market. Leveraging existing community events is a great way to do all of the above, plus it’s more cost-effective and allows you to reach more people than a stand-alone event.
Examples of past successful events include:
- Sponsoring meals in expectant parent classes
- Featured List of Community Garden Walks
- Provide entertainment to attract more attendees at local events
- Sponsor a table with crafts at your local farmers market
These are all groups of people with growing families and we invite our clients for further reach.
A recent pregnancy parents class we hosted at a local business was attended by 50 newlyweds and we have also developed an ongoing relationship with the company. Another win-win.
Build relationships with local businesses
In a volatile market, it’s important to have a local focus and deep roots in the community. We want to work with local businesses, and we work with them in several ways, such as gifting and marketing something from a featured local business at an open house, or partnering with a local business, such as a free yoga class in the park with coffee afterwards. Local businesses have employees who are deeply rooted in the local community.
Thinking strategically, it always amazes me how much marketing can be free. As with real estate and almost everything in life, persistence and follow-up are key.
Julie Busby is the founder and president of busby group, among the top 1 percent of Chicagoland brokers.follow her Facebook and LinkedIn.