Covid-19 (Coronavirus) fast-tracked a lot of marketing trends that were already starting to grow, and these comprise our Top 5 Marketing Trends for 2021. Coronavirus was a force magnifier and now these trends are must-haves. Of course, there are other marketing tools that are standards, so those are covered here as well.
Our 2021 “Must-Have Marketing Trends for 2021” list is generated from what today’s buyers expect. This savvy group of internet shoppers has raised the bar and it is up to us, as marketers, to give them what they want.
- Video and Virtual. Lisa Parrish said it best on a recent webinar, our buyers expect the “Netflix effect.” They want access to video and virtual when they want it. This means content needs to be ready to stream 24/7 when buyers are browsing social content or on a website.
- Social Media. More time is spent on social media than ever with consumers sheltering in place and looking for ways to remain connected online. During the pandemic, time spent on social media increased substantially and with folks continuing to stay close to home, this will continue.
- Content for Public Relations and Blogs. Content creation is important for brand awareness, to share product news and to attract search engines. Quality, original content is going to be a differentiating factor as we move into 2021. Consumers want to read well written, engaging articles.
- Search Engine Optimization (SEO). SEO is often where the rubber meets the road online. Can buyers find the products and services they seek? And how does your business show up in local search?
- Technology. Talk about a giant fast forward. Consumers are more comfortable than ever with 3D tours, video conferencing and the internet in general. It is time to embrace online chat on websites, tracking systems such as CallRail and on-demand access through technology like NterNow.
Additional Marketing Must Haves:
- Tracking. Everything needs to be tracked and measured, then compared to goals. This includes website metrics, email marketing, social media (paid and organic) and all advertising. Understanding what works and what doesn’t work for marketing really isn’t a mystery with tracking.
- Website. Search starts on company websites. Customers (B2B and B2C) need to find what they are looking for within a few clicks. Sites need trendy design and lots of ways for site users to interact – from adding photos to Pinterest, Tweeting images and blogs, watching videos, taking 3D tours and more.
- Listing Services. For home builders, it is imperative to use a listing service or two. Most home shoppers start their search on Realtor.com or Zillow. Make sure they can find your homes!
- Promotions. Breaking through the online clutter and noise is getting harder and harder. Promotions and campaigns provide a way to attract attention and give buyers a hook. Consider offering quarterly promotions to gain extra momentum.
- Signs, Flags and Balloons. All businesses need a way to attract attention to the store or model home. Signs, flags and balloons are giant visual breadcrumbs that lead buyers to your doorstep. Sales collateral is as important as ever, but in 2021, it might not need to be printed. Make it available via your website or have the sales team use it as a follow up via email.
We get asked a lot how much should I spend on marketing? There is no one-size-fits-all answer, a lot of it simply depends on your company. A good starting place for a home builder is typically somewhere between .5% and 1.5% of projected revenue. The bigger your company is, the more economy of scale there is. But, if you are looking to grow rapidly, you might want to spend even more. And remember, this doesn’t include model homes or any salaries. And it certainly doesn’t include commission. Things like a new customer relationship management system (CRM) or a new website will increase the budget as well.
For companies with less than $5 million a year in sales, the Small Business Administration recommends spending 6% to 7% of gross revenue on marketing. This figure assumes that the net profit margin—after all expenses—is in the 10% to 12% range.
Denim Marketing recently hosted a webinar on Planning, Budgeting and Goal Setting for 2021 with Kimberly Mackey of New Homes Sales Solutions Consulting and special guest Dr. Robert Dietz. Get more tips on planning for 2021 by watching that video here.
Let us know what Marketing Trends for 2021 you are most excited about, or if you see other trends that we should be following. And, as always, contact us if we can help with your PR, Social Media or Marketing.