When venturing into the competitive world of mortgage and real estate marketing, selecting the right agency to partner with can make all the difference. This decision should not be taken lightly, as the agency you choose will play a pivotal role in shaping the success of your marketing efforts.
In this article, we delve into five crucial questions you should ask when evaluating a potential marketing agency. These include their industry-specific experience, data-driven approach, innovative and integrated marketing capabilities, communication skills, and proven track record. Each of these factors plays a critical role in ensuring that your marketing strategy is not only well-executed but also aligned with the unique nuances of the mortgage and real estate markets.
Let’s explore what makes an agency the right fit for your business and how to identify one that can drive real growth and success.
1. Is the agency experienced in your business vertical?
Having the necessary experience creates immediate synergy.
The right marketing firm will already grasp the unique aspects of your industry, saving time otherwise spent on their education. They should be well-versed in the mortgage and real estate markets, including current trends, and possibly even familiar with your competitors. Understanding what drives your prospects and identifying your top target audiences are also part of their expertise.
They should also have key contacts in the media as well as trade organizations, making it easier to obtain press coverage, award nominations and speaking engagements.
Bottom line, they must come to the table with experience, pragmatic ideas, and the knowledge necessary to grow your business.
2. Does it have a data-driven approach and analytical capabilities?
Data is key in measuring the effectiveness of marketing campaigns. Make sure your agency partner can suggest KPI’s, or Key Performance Indicators, that they will track and analyze independently or in collaboration with you so that you can feel confident they will be focused on achieving your goals. However, it’s important that these KPIs extend beyond just leads and conversions. They should include intermediate metrics like social media engagement, website traffic, and other relevant data points. These indicators help recognize trends and correlations that signal progress towards your goals. The agency’s proficiency in interpreting this data to potentially adjust strategy is vital.
Additionally, the agency should identify qualitative metrics that can be tracked as well. An example of this would be customer satisfaction. A satisfied customer is more likely to remain a customer for life and become a great referral source.
3. Does it have innovative and integrated marketing capabilities?
The ability of your agency, especially one that serves the mortgage and real estate verticals, to offer innovative marketing solutions that integrate traditional and digital channels is vital. The ideal agency
should have a range of key skills necessary for success today so that you can be assured that you will not fall into a situation where you must hire multiple agencies or freelancers for different tasks. Frequently, in these situations, the effort will be disjointed, and money will be wasted. The range should include SEO, PPC, social media, content marketing, and traditional marketing and advertising so that you can be sure of a comprehensive approach.
It’s okay if they have partners to provide certain services, like SEO or website building, as long as the core strategy and creative is under their care, custody and control. There should be one primary point of contact at the agency that leads your account
4. Does it have strong communication skills?
Great communication is key between the agency team and your team. The agency you work with needs to be able to communicate with confidence exactly how they will work with you to accomplish your objectives once you have explained your needs and goals.
They should be precise to instill the confidence in you that your team needs to have in order to view them as a partner that will help you grow.
Establishing a schedule of regular updates is essential, especially at the start of a new relationship where you are just getting to know them and vice versa. This will ensure that everyone knows their marching orders.
5. Can it prove it will be successful?
Your prospective marketing firm should have a proven track record of success in the mortgage and real estate industries. Case studies, testimonials, and portfolio examples that demonstrate their ability to deliver tangible results are essential.
Selecting the right marketing agency for your mortgage industry or real estate industry business is a strategic decision that requires careful consideration of several key factors. From ensuring industry-specific experience to evaluating data-driven approaches, innovative capabilities, communication skills, and a proven history, each element is crucial in choosing a partner that aligns with your business goals. Remember, the right agency is not just a service provider; it’s a strategic partner that contributes to your growth and success. By taking the time to assess these critical areas, you can establish a collaborative, effective, and result-oriented relationship with an agency that understands the unique dynamics of your industry.