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Sign into your accountIs Old School Print Set to Rebound?
February 07 2016
Print advertising and marketing has seen a striking decline. I love using the phrase that newspapers are like nursing homes. But that might be changing. Here are some thoughts.
A while ago, I spent a few years working with a real estate magazine. We helped them expand into digital marketing – online portal, online advertising, agent and broker websites, etc. It was a good thing. We married their loyal customers to new services that escalated in revenue as print dropped off. The relationship remained the same; the revenue by product choice changed.
One of the great boosts to the online marketing business was the comparative calculus of print vs. web pricing. Buying a page of advertising in a monthly real estate magazine with 25,000 to 50,000 magazines in circulation is about $500. It's more expensive in some areas where distribution outlets are paid, and less in rural areas where you can put a box on any corner you like for free.
Heck, if agents spent $500 in online advertising today, they would be likely to reach 10 to 20 times the number of people. That is why companies like Realtor.com, Homes.com, or Adwerx are so popular with REALTORS®.
Online Losing Value
A decade ago, the price per click for Google Adwords in real estate was between $1 and $5 for competitive keywords. Interestingly enough, the price per click has been steadily declining. Online advertising is losing value because the conversion rates are so bad. The leading reason why brokers and agents are vacating their adverting with the Zillow Group is not what you think. They are not abandoning them because they don’t like them. They are abandoning online advertising because the likelihood of converting one of those leads is remote. If you do convert a Zillow Group lead, it's likely a year down the road.