2017 is the year to take your marketing back to “aggressive”

2017 is going to be a great year for homebuilders in Arizona, which means it’s a great year for business in the state. According to Michael Orr of The Cromford Report, the following criteria sheds a positive light on the recovery:

  • The annual average price per square foot is up 5%.
  • The annual average sales price on a home rose from $263,054 to $277,075.
  • The annual median sales price gained 8% from $209,000 to $225,000.

Arizona’s economic success ties very closely with real estate performance. When homebuilding hit the skids ten years ago, the economy went with it. Now, we are seeing just the opposite.

 

More Jobs

According to Chris Camacho, President and CEO of the Greater Phoenix Economic Council, Phoenix is “getting over politics and increasing interest and jobs in the market.”  Phoenix is the #1 growth market for technology jobs and is drawing great interest for businesses looking to relocate. This helps every sector of our economy as newcomers look for places to live, learn, shop, eat and enjoy life.

 

Media rates are up

Many people don’t realize that non-digital media rates are extremely variable and can change as much as 50% depending on supply and demand. When demand is strong, rates increase. This is a clear signal that the business community is optimistic which indicates a favorable climate for all business.

So what now? There are so many choices…

 

Media options are plentiful in all price points

Media options are much more scalable than ever before. This puts marketing in reach for all business people. Here is a rule of thumb for business people on what type of budget is needed to foster meaningful results.

 

 

Medium                     Best For…                 Minimum Price point

Facebook ads                  All ages                               $500

Advantage: You can target lifestyle groups, ages gender and zip codes. You can get great analytics and track the ad’s performance.

 

Pandora                            Millennials, Gen Y           $1,500

Advantage: You can target zip codes, ages and gender in most products. They sell three different modules: Audio, video and display. On the latter, you can choose some lifestyle qualifiers.  You can track some analytics like click through rates.

 

Radio                                   All ages                               $5,000

Advantage: You have to pick the format that aligns with the targeted age group you want to reach. You can ask for numbers of listeners based on age groups. This medium is highly negotiable.

Disadvantage: You have to reach the whole market which can be inefficient without multiple locations. Tracking is more complicated because there are no automatic analytics.

 

Cable TV                             Primarily 50+                   $6,000

Advantage: TV drives emotion and results with good creative. You can pick programs that works with the targeted age group but viewing under 50 is sparse with most people EXCEPT for sports. Cable also can be zones so that you don’t have to buy the entire market.

Disadvantage: Tracking is more complicated because there are no automatic analytics.

 

Broadcast TV                    Primarily 50+                    $10,000

Advantage: TV drives emotion and results with good creative. You can pick programs that works with the targeted age group but viewing under 50 is sparse with most people EXCEPT for sports.

Disadvantage: Tracking is more complicated because there are no automatic analytics. Also, you have to buy almost the entire state because there is no way to zone or limit exposure.

 

Online Video                      All ages                               $6,500

Advantage: You can target lifestyle groups, ages gender and zip codes. You can get great analytics and track the video’s performance. Also, you can really test what works through A-B testing.. Like broadcast and cable, TV drives emotion and results with good creative. This offers the best of both worlds especially if you have a visual product.

 

Display (banner)               All Ages                              $3,500

Advantage: You can target lifestyle groups, ages gender and zip codes. You can get great analytics and track the ad’s performance. Also, you can really test what works through A-B testing.

Disadvantage: The creative needs to be relevant to the receiver of the ad since many people hesitate on clicking on banners these days.

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