Explaining the main differences between prospecting and marketing.
What’s the difference between prospecting and marketing? As the market starts to shift and we see a change in the demand for buyers and sellers, it’s important to ask yourself if you are more marketing-based or prospecting-based.
When the market is doing well and it’s easy to find business, agents often rely on marketing to bring business to them. However, when the market shifts in the other direction, we have to focus more on prospecting. What’s the difference? Marketing is a call to action where others reach out to you, such as a social media campaign. On the other hand, prospecting involves reaching out to potential clients directly, like picking up the phone and offering yourself as a resource for their real estate needs.
To analyze the growth of your business, it’s important to assess how balanced your prospecting and marketing efforts are. A healthy business doesn’t rely solely on one approach. When both prospecting and marketing are working together, you can meet market demand and achieve your profitability goals.
If you have any questions, please call us at (603) 557-6661 or send us an email. We’d love to help you explore strategies to balance prospecting and marketing in your business.