Most real estate agents don’t go to Google to find a media partner. Referrals and word-of-mouth is much more powerful than SEO, and will help drive more business opportunities in the long run.
In the ever-evolving world of real estate marketing, it's crucial for media agency owners to invest wisely in strategies that yield the best results. While Search Engine Optimization (SEO) has its merits, it's not always the ultimate solution for every real estate media agency. In this blog post, we'll explore why referrals and word-of-mouth can often be more powerful tools for driving business opportunities.
Here are two statistics you need to know:
Only 11% ask for referrals, but 91% of customers would give one
Referred customers are 4x more likely to buy
To learn why these stats are so amazing, here’s the breakdown:
It’s All About Trust
Referrals and word-of-mouth recommendations stem from trust and credibility.
When a client recommends your agency, it carries a powerful endorsement. These referrals come with a built-in level of trust, because it’s coming from someone in their circle.
On the other hand, SEO efforts, while valuable, require time to establish authority and trust with potential clients. It's an ongoing process that may not yield immediate results and may feel more impersonal, making it less reliable for immediate business growth.
Leverage Your Network
Referrals and word-of-mouth recommendations are highly personalized.
They often come from individuals who have a deep understanding of the prospective client's specific needs and preferences. This personal touch can make all the difference and be the key to someone actually giving you a call.
SEO, although effective in reaching a broader audience, may not always cater to the unique requirements of individual clients. Combine this with a nonexistent search traffic and you’ll find that personalized recommendations are more tailored and, therefore, more convincing.
Build Stronger Client Relationships
When clients refer your agency to others, it strengthens the relationship between you and your existing client base.
They become advocates for your business, which can lead to long-term partnerships and even repeat business. This level of loyalty is a powerful asset for any real estate media agency.
In contrast, solely relying on SEO can sometimes result in transactional interactions. While it's important for attracting new clients, it may not foster the same level of loyalty and trust that referrals do.
While Saving Money
Referrals and word-of-mouth marketing can be highly cost-effective compared to investing heavily in SEO.
While SEO requires financial resources and time to implement effectively, referrals are essentially free. It's an organic form of marketing that doesn't rely on paid advertising or complex optimization strategies — a win-win strategy that doesn’t take much on your part.
By prioritizing referrals, you can allocate resources more efficiently, focusing on delivering exceptional service to your existing clients and building strong relationships that lead to more referrals in the future.
While SEO undoubtedly plays a crucial role in the digital marketing landscape, it's important for real estate media agency owners to recognize that it may not always be the greatest investment for immediate business growth. Referrals and word-of-mouth recommendations bring a level of trust, personalization, and cost-effectiveness that can be more powerful in driving business opportunities.
By nurturing strong relationships with your existing clients and providing exceptional service, you'll not only reap the benefits of referrals but also create a loyal client base that can sustain and grow your business in the long run. Remember, it's not about choosing one strategy over the other, but rather finding the right balance that works best for your specific agency.
Interested in learning more? Shoot us a DM on the ACRE Partner Instagram, let us know you read this article, and we'll send you an exclusive link to the Mastermind we hosted about maximizing referrals!