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September 24, 2024

The Market According to Meredith: Sept 2024 BTH Recap Part 1

Have you noticed a slowdown in foot traffic? Fewer leads spending time on your website? How about a decrease in overall sales conversions? 

Don’t worry. You’re not alone. 

According to recent Google Trends, searches for “new homes” and “homes for sale near me” have significantly dropped since March. And with the upcoming presidential election just around the corner, many buyers will likely continue to refrain from making any major economic decisions until after the dust from the decision has settled. 

So, what’s the good news?

With a dash of strong digital marketing strategies, a sprinkle of a focused and dedicated team, and just a pinch of patience, you’ll be able to overcome this dip in the market and make the most out of the buyers who have made it through the clogged pipeline.

Create Your Own Magic

Even in the current market, a select few builders are still finding success. These builders have one of three things going for them: a magical plot of land, a magical product, or a magical sales and marketing team. Regardless of the cards you’ve been dealt in terms of product and location, you have the power to turn your team into something fantastic! The status quo just won’t cut it anymore. Be sure you’re leaning into the magic. Work together to define a process that nurtures your buyers and takes advantage of each and every lead, regardless of the amount. 

Audition Your Content

All of your content – whether it’s an ad, a social media post, or a landing page – is an audition for your audience’s attention. Every word, every photo, every video is an opportunity to show what makes your product the right fit for your buyer. Now is the time to examine what has worked and, more importantly, why it worked. Examine if the content that was successful in the past still resonates with your current audience. Then adapt, refine, and re-audition!  

Don’t Play Sherlock Holmes – Play Strategist

When sales slow down, it’s easy to fall into the “who done it” trap and seek out a scapegoat to blame for the dip in sales. Instead of playing the blame game, focus on the positive! What strategies have worked in the past? When did you succeed and what factors made this possible? Double down on the positive, and use that knowledge to refine your approach. 

Don’t Redesign the Wheel

Look at the world through a buyer’s lens. Something that may seem outdated and overused to you could be brand new to a prospective buyer. Take, for example, your website. While you’ve seen each page in excruciating detail, your new leads are usually experiencing it for the first time. Rather than focusing time, energy, and funds on a full redesign, take a peek at your analytics to refine your pre-existing content. 

Can’t get enough of all this incredible industry insight? Join us at our next Builder Town Hall on October 4 at 12pm EDT! Register now to secure your spot for our next installation where we will discuss how to refine and refresh your realtor marketing! In the meantime, be sure to join our Builder Town Hall Facebook Group and keep the conversation going!

 

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