From getting the best return on advertising to seeing how a property’s value will develop over time, real estate is all about margins. It can be tough to come up with a marketing plan that’s both feasible for your business and capable of maximizing growth; however, there are some marketing strategies out there that are both effective and affordable. While each may have its own learning curve, these cost-effective marketing strategies tend to offer a solid ROI.

Using Stock Photos

While it’s always great to have custom photos of products, using stock photos can be an excellent strategy for supplementing other content goals. You’re not always going to have the financial resources or time for original photography, but the importance of visual content doesn’t go away just because you’re on a budget or busy. According to HubSpot, tweets with an image get 150 percent more engagement than those without, which is just one example of how great the need is for visual content. This is why learning the ins and outs of stock photos is a must.

First and foremost, the biggest goal with stock photos is making them appear as though they aren’t stock photos. This means using high-quality, curated photos, which will separate you from those who use more traditional sources. Additionally, the stock photos you choose should have a purpose in your post. For example, if you’re posting about home decor, showcasing a photo with the perfect layout will be much more effective than a handful of “what not to do” pictures. Since the name of the game in content production is including as many visuals as you can, quality stock photo resources will help tremendously.

Email Marketing

Although many of us hate getting email after email, this is one strategy that has worked for numerous real estate companies in the past. As noted by Constant Contact, for every dollar spent on email marketing, an average return of $38 is seen, which can be incredibly significant in the real estate world. While it will take quite a bit of legwork, building a listserv can be a useful marketing strategy for your firm.

If you haven’t already, start implementing more email signup forms on your website and social media accounts and at events. With real estate, a big part of marketing is relationship building, which means that after you make initial contact it’s worthwhile to send an email blast with company updates and recent listings. Although it’ll take some getting used to keeping up with consistent email campaigns, even landing just one home sale per year from your weekly email would make it worth the effort.

Social Media

If there’s one medium real estate has started to find a footing with, it’s social media. In fact, approximately 81 percent of all small businesses are on some social platform, according to Brandwatch. What makes social media so appealing to real estate companies in particular isn’t just the visual features or ability to share insights, but also the platforms’ opportunities to genuinely connect with customers in more meaningful ways.

Buying a home is one of the most significant investments someone can make, so use your social media to start real conversations about home buying. Whether it’s asking what people look for in a home or what the worst challenges of buying a house in the current market may be, creating a dialogue with consumers will not only help you serve their needs but also improve your online marketing. Keep lines of communication open and don’t be afraid to engage in one-on-one conversations with potential buyers via direct message on social. The more of a relationship you can build with them, the better. Buying a home is a life-changing step, and people want someone they believe they can trust and talk to along the way.

Referral Marketing

Finally, referral marketing is an amazing strategy for boosting sales. When it comes to real estate referrals, the goal is to find buyers in their prime for buying a home: young (likely married) couples with growing families and sustainable incomes, with friends in a similar position. As of now, this is going to be the millennial generation for a while; luckily, 85 percent of Millennials say they trust referral marketing, according to Extole.

Referral marketing is a patient game, since buying a home is a process very few people rush into. The important part to remember is that it’s not always about new outreach, but rather utilizing the network you’ve already developed. Simple things, like sending notes on holidays or occasionally checking in on families who have used your services, can go a long way. While it’s unlikely you’re going to want to give a percentage of the total sale, it’s not uncommon for real estate firms to offer a few hundred bucks for a referral that leads to a sale, which might be another incentive for customers to help you widen your circle.

What are some marketing strategies that have been successful for your firm? Comment with your answers below!