Trim the Fat? Where to Make Cuts & Where to Double Down in Q4

Brokers, Q4 is finally here. How are you planning to optimize your budget? As we race to the year's finish line, there’s still time to trim the fat. With careful analysis, planning, and a bit of creativity, you can make effective cuts, double down on what’s working well, and continue to run a profitable business and grow.

Here’s Where You Can Trim the Fat (and Where to Double Down)

As you prepare to see where you can scale back, scale up, and double down, make sure you’re leaning on your database and CRM system. These components of your brokerage are always critical and play a crucial role in tracking everything your agents are up to. Don’t skip out on circling back to it, and using it to power up our recommendations below.

Skip Risky Experimentation with Marketing Efforts

At this time of year, experimenting with marketing campaigns can be risky. Consumers are winding down and strapping their own budgets ahead of the holiday season, and countless businesses are ramping up their advertising to meet them at peak purchase time. This means you’re not just competing in ad space with other agents; you're also competing with myriad other businesses, too.

Instead, focus on being more strategic and scrappy with your marketing. Lean on your CRM to access your contact database and lead generation source insights. What’s working well for you currently? Make a plan to increase those efforts, so your dollars can work more efficiently. Are there organic opportunities you need to assign to your agents, like canvassing or cold-calling? Set that up, too. Aim to strike a balance between efficient marketing spend and cost-free efforts.

5 Free (or Low Cost) Ways To Generate Fresh Real Estate Leads

Need more ideas? Watch our session “5 Free (or Low Cost) Ways To Generate Fresh Real Estate Leads” to get more!

But Don’t Cut Out Your Marketing Spend Entirely

Did you know that many businesses actually dial back their digital marketing lead generation efforts in Q4? This makes it an optimal time to double down on marketing spend on channels and through content formats that have proven successful for your brokerage. Investing in your top performers in Q4 can also create a strong runway to set yourself up with a strong Facebook and Google presence as you head into Q1.

Get Creative, Go Cost-Free

Speaking of cost-free, what other marketing or other outreach can you invest in to help get more visibility on your brokerage? Consider doing things like going to as many free networking events as possible, working with your local real estate association to see what other events are coming up, and attending other local happenings, like city council meetings or community-oriented events. It’s a great way to learn more of what’s happening in the local area, get your agents front and center, and strengthen your brokerage’s presence in the community.

Not only can this create strong connections and enhance your brokerage’s brand, it’s also a great opportunity to spark ideas for the new year. Is there room to get more involved locally? Can you potentially sponsor a group next year when you have an updated budget? Are folks at these meetings interested in hearing from your brokerage? This is a free chance to start eyeing updates to your new year plan.

Time To Start Mailing "Presents" To FSBOs & Expireds? (If you Want More Listings?)

Need more cost-free ideas to make marketing work for you? Consider reaching out to FSBOs and expired listings with this clever tip you can use with BoldTrail’s Present.

Incorporate Your Brand Organically

You already have to have branding on things like swag items, closing gifts, and print materials. But are they optimized? Use a cost-free (or low-cost) design tool like Canva to create any new print materials you need, then enjoy free pickup at your local FedEx or Staples. You can also use BoldTrail’s DesignCenter to elevate your branded materials quickly and easily. Pull from existing brand materials, like your brokerage’s color scheme, fonts, and headshots, and start using them on these materials. Rather than hiring a marketing or graphic design expert and paying them accordingly, give your budget some more wiggle room by going this route in Q4.

Seek Out Co-Marketing Opportunities

You know the old saying “I'll scratch your back, if you scratch mine?” That is the crux of co-marketing. You likely have a network of local businesses, vendors, and other real estate professionals who also have their own marketing needs. As you head into Q4, look for opportunities where you can collaborate with your network to promote one another's businesses.

This could look like sharing a marketing budget for a local, co-hosted event, co-hosting a webinar(cost-free), co-authoring a blog or whitepaper together, or even just resharing one another’s content on a regular basis. In this effort, you’re cutting marketing costs and doubling down on increasing your brokerage’s reach, helping boost its exposure — without overspending.

As you wrap up Q4 and start to review how the year netted out, you’ll also need to start planning for Q1. Make sure your new year is powered up by a seamless ecosystem jam-packed with crucial tools and functionalities, all designed to help your brokerage scale and grow. Click here to learn more and get a demo today!