In its most simple form, the equation for sales success is contingent upon two variables — traffic and conversion. That is, the amount of traffic in a community multiplied by the sales agent’s conversion rate equals the number of sales received. While one could train to become an expert at conversion, it would all be meaningless if their community was driving the wrong traffic or, worse yet, no traffic. It is for that reason that the philosophy of New Home Star focuses heavily on marketing and the means by which a sales agent can position their community effectively.
Often, a builder’s marketing team will control a large chunk of the company’s branding and advertisement, including certain promotions, incentives, signage, social media accounts, and the builder’s website. While sales agents can position themselves to influence these things by establishing credibility with their team, they often will not have much control over them. While this is true, there are, however, certain aspects of marketing that sales agents can leverage to control their own success.
Sales Associate Marketing Initiatives, or SAMIs as New Home Star likes to refer to them, are the additional efforts that a sales agent makes to market their community and drive incremental traffic units. These initiatives can take different forms, including digital/social media, events, guerilla-style tactics, etc.
Whatever the form, these SAMIs are almost always targeted at one of two audiences: prospective buyers or the Realtor community. In this four-part series, we will be diving into the main aspects that go into creating and executing successful SAMIs as well as ones that have proven to be effective for the Sales Counselors here at New Home Star.
To view other parts of the article series, please click on the links below.
What was the last marketing initiative you completed as a new home Sales Agent to help drive additional traffic to your community? Was it a success? There are several areas you can utilize to help drive additional traffic to your community. Sales Associate Marketing Initiatives (SAMI) are initiatives that are meant to complement any marketing provided by the builder you are working for. As discussed previously, there are several ways that an effective SAMI can be executed but first, we must take a closer look at the six key strategy points that go into implementing top-notch initiatives.
- Do you have a goal? Be realistic when setting goals for your initiative and list out each accomplishment you want to make with each SAMI plan. For example, you are hosting a realtor luncheon at your model home and the goal is to have a minimum of 30 attendees. You also want to have at least two of those realtors register a new client with you within the next two weeks following the event.
- Do you have a plan? Map out a plan and what specific deliverables need to be completed ahead of time in order for your SAMI to be successful. This should serve as a roadmap to you for how to achieve the goals you selected previously. What timeframe do you need and whom are you targeting? Typically, it is recommended to have a minimum of 30 days to plan for any event to market it successfully but a timeframe will vary per initiative. What marketing do you need and what needs to be completed? You will want to identify who will be responsible for each task listed and verify that all deliverables will be done in a timely manner.
- Does it specifically target your Target Consumer Group (TCG)? Be sure the marketing initiative attracts your TCG and their lifestyle. This applies to everything from the advertising, event type, material content, and the messaging. If it does not relate to them or their needs and wants, you will not receive the kind of traffic you are hoping to receive.
- Does the messaging/content grab your audience's attention? In today’s world, people are very busy and their inboxes are inundated with so much mail they don’t even look at it. If you are emailing information about your event or promotion to your contact list, your subject line needs to grab their interest. This is the same for any messaging used on any flyers you utilize; clear and direct is always the way to go. Try to put yourself in the mindset of your TCG and think about what might attract them. Simply going back to the basics of picking up a phone and calling your contacts or even sending a handwritten invitation adds a personal touch which may go a long way.
- How many touchpoints do you need? How many times do you want to reach out to your target group? For an actual event, we recommend a minimum of three touchpoints: a save the date, a full-on invitation, and a reminder one to two days prior to the big day. Be sure to plan out what dates you need to send out your information and how you will do so. Most send out email blasts but with the advancement of social media marketing, we find that it can serve as a great communication platform for your initiative as well.
- Are you tracking your results and following up? Once your initiative is complete, you must remember to track the results of each component. This is a great way to track your future sales and learn about what worked or what potentially did not work. Take a look at open rates on any email blasts, analyze who attended, and monitor communication following any interactions you had at the event. Follow-up is vital to the success of any SAMI; be sure to email or personally call each attendee to thank them for participating in your initiative.
The key is to map out a plan and have a purpose for your SAMI. Remember, if you can generate one additional traffic unit per week it totals 52 new prospects per year. With an industry average of 10% conversion rate that is an additional 5.2 sales per year. Now that’s a great bonus!
