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Boost Property Sale, better Sales Promotion Explained, Real Estate Market Scan
By arlene | July 6, 2008
Sales promotion includes the presentation of gifts such as diaries and calendars, providing the prize money for a high school essay competition, helping to raise funds for purchasing, restoring and preserving a historic home for the benefit of the community, taking a leading role in resisting an unpopular decision by a local authority to locate a bus repair workshop in the heart of your residential community, having a Sunday show house, cooperating with a local interior decorator in furnishing your Sunday show house, and compiling various brochures, newsletters and annual reports for distribution to various client target groups.
Sales promotion by its very nature tends to support, and hence to sustain and extend, the efforts of the other three ingredients of the promotion mix, namely advertising, personal selling and publicity. It does so through the use of physical objects and by means of activities controlled by the firm itself. Although sales promotion attracts attention to the firm, generates goodwill and supports your marketing effort, it does not have the service and institutional impact of advertising, the transaction-making abilities of the salesperson or the potential of publicity to enhance your reputation and create a favourable attitude. Sales promotion without the latter three promotional tools will achieve relatively little market penetration.
Although sales promotion is largely supportive of the other ingredients of the promotion mix, you are limited only by your budget and your imagination. The great strength of sales promotion is the scope it provides for you to be creative. Every estate agency, regardless of size, can benefit from sales promotion. There is a sales promotion device or activity that will work for you, no matter how small your budget may be.
Get Property Sales Promoted
It is very important that you deliberately and diligently plan your sales promotion effort and do not allow it to be a random occurrence. This requires you to:
- Set your sales promotion objectives. It is important to know what it is that you wish to accomplish.
- Decide on your target market. The wrong sales promotion activity aimed at the wrong target market is a wasteful exercise that should be avoided.
- Budget for sales promotion. What will it cost you to do what you want to do? How
much money is available? How does this affect your implementation plan?
- Carefully select your promotion article or activity. The activity you select has to be compatible with promotion objectives and the service concept.
- Develop your sales promotion message carefully. In the case of a free gift, such as a bottle opener, there may be space only for your name, address, telephone number and logo, and not for a worded message. In the case of a decision brochure for a commercial property, you can include all the technical and financial information that your client may need to make his decision.
- Tie your sales promotion in with your general marketing and advertising theme.
- Set time and durability requirements. How long should your sales promotion activity last? How durable must a sales promotion article such as a diary be so as not to fall apart in the hands of the user before the end of one year?
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Topics: Agent, Commercial, Market, Property, Residential, Sale, School |
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