Legendary marketing guru and career “Ad Man” Terry O’Reilly talks shop with Adam and Matt about marketing strategies, Realtor® faces, and his new book, “This I Know: Marketing Lessons from Under the Influence.”
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The Evolution of the Ad industry
Before the advent of social media, advertising was all about persuasion. Now, it has become all about influencing opinions and behaviour. In those times, people only saw an ad, but there was no way for the people to communicate back to the ad. However, marketing has evolved, and it has now become a two-way street, allowing customers and prospective buyers the ability to interact with the ad. There is a need now more than ever for companies to be more transparent. Also, customers can communicate easily with companies, such as tweeting about a problem, and they often do. This puts customer service issues into the public realm, and everyone can see how a company responds to such issues, and the speed of that response, too.
In the face of these changes, however, the fundamentals of marketing are still the same and have not changed at all. Presently, there are more channels for advertising, like Facebook and Twitter, and you have to tailor your ad to these channels. This is similar when content was made specifically for TV, Radio or Billboards. In all, great marketers must make sure that there is consistency in all their ad channels and that there is a uniformed brand message that is consistent across all channels.
A few resourceful marketing books for anyone whose line of work involves marketing are:
- “Start with Why” by Simon Sinek. A book about finding your passion and why you are in business. People want to know why you entered a business; they want to know your story.
- “Predatory Thinking” by Dave Trott. An inspiring book which pops in little nuggets which always stay in the memory.
On “Selling the Dream” (insights into the real estate marketing world)
Realtors usually feel compelled to use their faces in marketing all the time, but there is a story to this. There was a lot of fraud when the real estate industry first started: people were leaving their homes for the city and were easy pickings for city swindlers, who claimed to be upstanding real estate agents. They were often sold “swamp land in Florida.” The honest Realtors formed an association, and they made sure to set up offices and be known in the community, as scammers would just up and disappear. They also put pictures of their faces on ads because…what could be more honest than that? The flaw with putting your face everywhere is that people don’t really know you, they just see your face and a few marketing words like “trust me”, which proves nothing in reality. It is an outdated advertising concept.
Realtors don’t do a great job of marketing themselves as they usually use the same billboards and designs without striving to be unique which is quite odd. Clearly, there is an opportunity for those in the real estate business to be more creative instead of using the age old tradition of having their face on every form of media.