How can real estate agents, brokers and investors tap into rapid growth to propel their businesses and return on investment (ROI)?
Growth hacking, for those who are not familiar with the concept, is all about getting bigger over a shorter period of time. Done correctly, growth hacking requires less effort and offers maximum ROIs. It’s a lot like guerrilla marketing. However, it is more technical, strategic and offers more leverage than sweat equity.
So how can real estate agents leverage the technology of others to fast-track growth, deal volume, revenues and bulk up their bottom line?
Five growth hacking strategies for real estate professionals:
1. Leverage Your Sphere of Influence
This is actually one of the most basic concepts introduced to real estate agents when they enter the business. Sadly, most slack on this critical step and end up struggling for months instead of starting off with a bang. Today it is easier than ever. By using social networks versus outdated strategies, agents can reach a significant amount of potential clients with minimal effort.
2. Strategic Partners
Whatever your role in the real estate industry; Realtor, insurance agent, title rep, mortgage loan officer or investor, there are hundreds of peers that have already acquired large databases of prospects. Chances are, they would probably love to barter and let you tap into them if you can present a win-win opportunity.
3. Affiliates
It’s almost insane, the amount of work and hours some real estate agents and investors put in to yield little results, when there is a massive army of marketers out there eager to promote on their behalf. Look for ways to push the hard work onto affiliates and speed up growth.
4. Leverage Networks
Growth hacking allows you to use established networks with thousands of members you can tap into. Such networks may include: Chambers of Commerce, trade associations, corporate benefits providers and managers and online communities. If used correctly, certain networks can boost your income.
5. Leverage the Competition
The competition doesn’t have to be your enemy. With a little creativity, they can actually be your best ally. Leverage their platforms, social following and web traffic for honing in on prime prospects.
However, before you get started, a recent report from entrepreneur publication G-Code Magazine suggests that your success and results are all dependent on how well you know your ideal customer and the thought you have put into making it easy for others to promote you. Everyone is ridiculously busy today, and while they’d love profiting from helping you, the odds are they’ll never get around to it unless you automate it for them.
