Successful real estate agents know the importance of marketing with targeted lists of home buyers, home sellers, business owners, and commercial property owners. How do you make that happen? These tips are sure to help.
Understand Your Target Audience
Could you imagine sending a postcard to retirees with information about the next school year calendar? It would likely go right into the trash because it wouldn’t have any relevance to them. Have you ever been shopping for something, let’s imagine, a kayak, and then a coupon comes in the mail for a sporting goods store, are you more likely to go check them out?
Yes! This is the value of understanding your target audience. It is the first step in knowing the best way to reach them. For example, if focusing on a specific neighborhood is your niche, knowing the schools, commutes, household make-up and more can help you create targeted, relevant messaging to them. And being relevant is the difference between a purchase and landing in the trash.
Know Your Budget
Another benefit of clearly defining your target audience is that it allows you to know how much money you can spend on marketing. Five-star restaurants have a higher price point than fast food joints. Fast food may have more transactions, but at a lower cost, while the opposite is true at fancy restaurants. They cater to different clientele and their marketing reflects that.
To relate that then to real estate, it may not make sense to hire someone to do drone photography on a fixer-upper that will likely end up with an investor. Likewise, you want to be sure to dedicate the proper resources to reaching the type of customer you want to work with.
Postcards, promotional products, brochures and banners all cost money, and it is always best to maximize your budget by buying the items that will be effective.
Do Your Market Research
Using targeted lists is the most effective way to reach your ideal customers for the least amount of money. Throwing money at every marketing method is more likely to hurt you than to get the phone to ring.
Once you’ve identified who you want to work with, and your budget for working with them, get a curated list to market. This list should improve your return on investment by being specific, personalized, and relevant to the recipient.
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