It’s a question that divides opinion. Could a business really thrive without spending thousands on advertising?
For some brands, the answer is yes. Companies like Tesla famously spent little or nothing on traditional advertising for many years, relying instead on innovation, media coverage, word of mouth and the profile of its founder to generate global attention. Closer to home, many professional services businesses win the majority of their work through referrals, reputation, PR and thought leadership rather than paid advertising.
That doesn’t mean advertising isn’t important. It absolutely has its place. But it’s worth asking whether businesses are sometimes investing in the final step of the customer journey, rather than the first.
Take a new homes development. A potential buyer may spot a roadside sign or browse properties on Rightmove, and that’s often what they remember. But what prompted them to start looking in the first place? Perhaps they read an article about the area’s regeneration, saw a feature on the developer’s latest scheme, listened to an interview with the managing director on a podcast, or noticed positive coverage in the local or trade press. Those moments don’t always feel like marketing, yet they’re often what create awareness, credibility and intent.
The same principle applies to estate agencies. A homeowner might search online for an agent or notice a For Sale board in their street, but before inviting someone to value their home, they’ll often have formed an opinion about that business. Have they seen its market commentary in the press? Do they recognise the directors? Have they heard the company discussed on a podcast or seen its insights shared on LinkedIn? Trust is rarely built in a single moment; it develops over time through consistent visibility and credibility.
It’s also worth remembering that not every pound spent on marketing comes from the same budget. Signage, portals, brochures and digital advertising all play an important role in converting interest into enquiries. PR, meanwhile, sits higher up the funnel, generating awareness, building reputation and giving people a reason to engage in the first place. The two work best together rather than in competition.
If budgets are tight, however, it’s worth considering where your investment will have the greatest long-term impact. Advertising stops the moment you stop paying. A well-placed piece of editorial coverage, an insightful comment in the media or a thought-provoking podcast appearance can continue to build credibility long after it’s published, while also supporting your advertising by making your brand more familiar and more trusted.
The most successful property businesses don’t choose between advertising and PR. They understand that advertising helps people find you, while PR gives them a reason to choose you. And when budgets need to work harder, investing in your reputation is often the smartest place to start.