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Digg It - Strategic Advertising for Real Estate Agents
“99% of advertising doesn’t sell a thing.”
Sounds like something a local real estate agent might say after paying for yet another ad that didn’t produce, right?
You might be surprised to learn that the quote actually belongs to David Ogilvy, legendary founder of one of the world’s la
Sounds like something a local real estate agent might say after paying for yet another ad that didn’t produce, right?
You might be surprised to learn that the quote actually belongs to David Ogilvy, legendary founder of one of the world’s la
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
rgest and most successful advertising agencies.
Yikes – if a man regarded as a giant in the ad industry is so negative about advertising’s success rate, how should you feel?
The Bad News is the Good News…
There is an upside here. If so much of the advertising in your local ma
Yikes – if a man regarded as a giant in the ad industry is so negative about advertising’s success rate, how should you feel?
The Bad News is the Good News…
There is an upside here. If so much of the advertising in your local ma
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
rket is ineffective, you can gain a significant edge on your competition by having a better local advertising strategy than other agents.
Advertising vs. Advertising Strategy
Notice that I said a better advertising STRATEGY, not simply better advertising. There’s a big differe
Advertising vs. Advertising Strategy
Notice that I said a better advertising STRATEGY, not simply better advertising. There’s a big differe
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nce.
A better ad might get you a few more leads in the short term. A better advertising strategy can help you to have a consistent, meaningful message in your advertising, and will position you to get more business from your local market on an ongoing basis.
With that in mind, here a
A better ad might get you a few more leads in the short term. A better advertising strategy can help you to have a consistent, meaningful message in your advertising, and will position you to get more business from your local market on an ongoing basis.
With that in mind, here a
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
re three tips to help you define your advertising strategy, and put it into action:
1) Have a Strategic Objective In Mind BEFORE you Advertise
Advertising for the sake of “building awareness” is probably the fastest way to flush your advertising dollars away.
Before you even
1) Have a Strategic Objective In Mind BEFORE you Advertise
Advertising for the sake of “building awareness” is probably the fastest way to flush your advertising dollars away.
Before you even
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
hink about buying an ad, you must have a strategic objective in mind – after all, why should you pay for any type of ad unless it helps you to reach your objective.
Here are just a few questions that you might ask yourself before placing an ad to help define what you want your adverti
Here are just a few questions that you might ask yourself before placing an ad to help define what you want your adverti
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
sing strategy to do for you:
- If I could be known for just one thing in my local market, what would it be?
- Which part of the local real estate market is not currently well serviced by other agents? Is there potential in this neighborhood/age group/demographic profile?
- W
- If I could be known for just one thing in my local market, what would it be?
- Which part of the local real estate market is not currently well serviced by other agents? Is there potential in this neighborhood/age group/demographic profile?
- W
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
hich part of the local market is emerging and might be a driving force for sales in future years?
- What’s changing in my market right now – immigration, aging population, young families moving in, etc – and how do I capitalize on the change more effectively than my competitors?
- What’s changing in my market right now – immigration, aging population, young families moving in, etc – and how do I capitalize on the change more effectively than my competitors?
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
r>
If you can answer even some of these questions, you will probably be on your way to identifying the basis for an advertising strategy.
For example, you may determine that based on trends and current prices, your market will become increasingly popular with first time homebuyers. A
If you can answer even some of these questions, you will probably be on your way to identifying the basis for an advertising strategy.
For example, you may determine that based on trends and current prices, your market will become increasingly popular with first time homebuyers. A
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
s a result, your strategic objective may be to use your advertising to become recognized as the local expert in serving first time homebuyers.
2) Have a Specific Objective for Each Ad you Place within your Strategy
With a clear objective as part of your advertising strategy, y
2) Have a Specific Objective for Each Ad you Place within your Strategy
With a clear objective as part of your advertising strategy, y
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
u can now think about investing in ads that support your objective.
Here’s a tip - you can create advertising that generates an immediate response while also serving to build your brand in a particular market.
Continuing with the above example, if you ran a series of ads in the local
Here’s a tip - you can create advertising that generates an immediate response while also serving to build your brand in a particular market.
Continuing with the above example, if you ran a series of ads in the local
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
newspaper offering a free “First-Time Homebuyers Report” available from your website, you would actually be running a direct response ad (aimed at getting people to download the report) that also delivered a brand building message (the message being that you are the agent for first ti
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
me homebuyers to call because you are the expert in that field).
You can measure the success of the ad by looking at the number of downloads from your site while the ad was running – since generating downloads was the specific objective of the ad. If the ads don’t generate enough down
You can measure the success of the ad by looking at the number of downloads from your site while the ad was running – since generating downloads was the specific objective of the ad. If the ads don’t generate enough down
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
loads to justify the cost, pull them or change them. Ads are only valuable if they get you closer to achieving your strategic objective.
3) Be Consistent
All of your advertising (online, print, directory, flyers, etc) should be similar in both style and substance within your a
3) Be Consistent
All of your advertising (online, print, directory, flyers, etc) should be similar in both style and substance within your a
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
dvertising strategy.
Yes, a consistent look and style for your ads is important to help you get recognized in a competitive market.
But even more important is being consistent when it comes to the messages in your ads. You can’t buy a Yellow Pages ad that promotes you as the leader i
Yes, a consistent look and style for your ads is important to help you get recognized in a competitive market.
But even more important is being consistent when it comes to the messages in your ads. You can’t buy a Yellow Pages ad that promotes you as the leader i
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
client service, and then advertise your “low low price” in the local newspaper, and then distribute flyers that try to promote you as the family real estate expert.
Your messages can’t conflict! Again, here’s where an advertising strategy comes in. With a strategic objective in mind
Your messages can’t conflict! Again, here’s where an advertising strategy comes in. With a strategic objective in mind
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
for your advertising, you will be able to focus your advertising dollars on communicating a single, clear message to potential clients about why they should call you.
An Advertising Strategy is Critical to your Success
If Mr. Ogilvy was right, then most of the advertisers out
An Advertising Strategy is Critical to your Success
If Mr. Ogilvy was right, then most of the advertisers out
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
there in your real estate market are getting it wrong. This creates a huge opportunity for you to use an advertising strategy to drive business and outdo your competitors.
- Have a Strategic Objective for all of your Advertising - Know what you want to say about your business, and who
- Have a Strategic Objective for all of your Advertising - Know what you want to say about your business, and who
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
you want to say it to within your local market.
- Have an Objective for Each Ad – Measure each ad’s results against the strategic objective you are trying to achieve - if you don’t, how will you know if the ads were successful or not?
- Be Consistent – Make sure all of your
- Have an Objective for Each Ad – Measure each ad’s results against the strategic objective you are trying to achieve - if you don’t, how will you know if the ads were successful or not?
- Be Consistent – Make sure all of your
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ads are focused on helping you reach your strategic objective by communicating a clear message to the market.
Advertising can be a tough game, but so can real estate. And in both cases, those with a well thought out strategy will almost always succeed over those that don’t have a plan
Advertising can be a tough game, but so can real estate. And in both cases, those with a well thought out strategy will almost always succeed over those that don’t have a plan
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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