Q & A: How Can I Keep My Business Going During the Slow Season?
It's that time of year again when most real estate professionals are bracing for a dip in sales as the cold winter months approach and many home buyers and sellers go into hibernation. Even if you don't have a lot of active clients during this time, there's plenty you can do to keep your business from freezing while you wait for consumers to return to the market in spring.
Aside from using the holidays as an excuse to reach out to your client base with cards and gifts to stay top-of-mind, the winter downtime is perfect for taking stock of your marketing techniques and assessing what you can do differently for your overall business. Here are 5 items to put on your winter checklist:
1. Clean up your contact list. Look at the bounce rates of recent messages you’ve sent to your customer base, and when possible, track down a new email address for contacts whose information is outdated. You’ll be surprised what you can learn about a client when you follow up to find out why their email address changed. You might discover, for example, that they have a new job that requires a move in the near future.
2. Test email marketing services. Email marketing providers can keep track of your contact list, let you know which emails were opened and when, and tell you which articles were clicked on and shared. Use this time to check out different services and take advantage of a free trial. Find what works for you now, and by the time spring comes, you’ll be engaging customers and driving referrals through your newsletters.
3. Practice curating content that informs. Spend some time this winter researching relevant blogs and collecting trend pieces and news stories your clients will find interesting. Then make them your own by adding your views on the topic as the lead to the story. (Just be sure to give credit to the original source.)
4. Review and analyze your performance. Winter is the best time to look back on your year and compare your performance with the past three years to spot patterns. Also, take a closer look at the source of your sales, and break it down by referral, direct mail, email, open house, advertising, and other criteria. This insight is critical to knowing which avenues deliver the strongest ROI. You’ll be armed with knowledge and know where to focus your efforts come spring.
5. Prepare for tax season. This is about your overall business. Don’t wait until the last minute to find a great accountant with terrific bookkeeping skills. Use the winter to find the right accountant for you and to find those missing receipts for entertainment, postage, gas, and marking materials.
Our Real Estate Virtual Assistants Can Help!
If you do not feel like business has slowed down, but still have a million things to do - or want to implement the strategies above - give us a call today. We would be happy to take on any task you need whether it be research, organizing taxes, or finding you an accountant - we can do it all!