Should more Southern California real estate professionals consider launching their own magazines?
Self-publishing has become far easier and less expensive today and magazine advertising has long been a staple of real estate marketing. Does it make sense for more San Diego County and other California real estate investors, agents and business owners to consider their own magazines?
Real estate and housing magazines certainly took a beating like everyone else when the market started to cool 8 years ago. Many went belly up. Those that survived slimmed down to bare bones while others were acquired by larger publishers and franchises. However, now that the market is heading upwards again and real estate companies and pros are eager to find ways to stand out and get noticed, magazines are gaining notoriety.
With real estate market activity up and transactions, home prices and players anticipated to keep growing for at least another 7 years, the marketing and publishing industry is likely to experience significant growth as well. The herd mentality of real estate industry workers and executives means that the majority will continue to flock to the same mediums which eventually drive up the cost and reduce effectiveness.
With this in mind, it makes sense that print can be a unique way to stand out, differentiate and maybe see a good marketing ROI. Just like offline shopping hasn’t died out as predicted, magazines seem to be making a comeback and are only being bolstered by technology and the internet.
Recently, magazines have been dramatically reinvented thanks to digital media, affordable design solutions, new publishing platforms, access to affordable and quality freelance workers, interactivity, multimedia and augmented reality. However, before jumping into such an endeavor, it is wise for real estate executives to make sure they have an eye on the bottom line profit and are not being seduced into feeding their egos.
What research has been done? What are the real creation and promotion costs? Anticipated leads and conversions? How does this stack up against other real estate marketing options?
For example; would it be better to advertise your homes or real estate services in an existing publication, just as it can sometimes be better to leverage someone else’ online platform or mobile app than building your own?
Simply leveraging an existing solution might be cheaper, reduce headaches, keep it simple and provide advantages in speed, reach and positioning.
There are plenty of choices to choose from. There are mainstream newspapers and magazines which can sometimes run thousands of dollars an issue as well as niche magazines. Consider the optimal point of reach in which targeting and investment collide.
Innovative California real estate professionals can also ensure their marketing money goes a lot further with a little creativity. How about guest writing for growing publications that are eager for content, negotiating discounts (especially for multiple issues), negotiating more perks such as online ads, list access, social promotion and sponsoring email newsletters. Sometimes these things can have more value today and they cost the publisher very little to giveaway.
Before deciding, remember that this time of real estate marketing is not just about leads; it’s also about SEO, credibility, trust, branding, domination, partnerships, and attracting investment and talent.
