Let’s talk about the old way of marketing, places like radio, TV, direct mail billboards, and others do not allow you to zero in on who you want to see your ads. They do not allow you to zero in on your target market. This is old way of marketing. This is like casting a net over the whole ocean and seeing what you get. You’re going to get a mixed bag of things. Example radio. When you do a radio commercial, that radio ad goes out to that local market. That ad is heard by everyone, everyone that has a radio and that’s tuned into that station.
Let’s say thousands of people here your ad. How many of those people actually want what you have to offer? It’s the same with TV. You do a TV, commercial, or a TV spot, and you have thousands of people that see your TV ad. How many of those thousands of people actually need, or want your services? It’s a very small percentage. This type of marketing does work but It’s expensive. Direct mail is the same way. What if you were to send a mailer to the whole subdivision. How many people in that whole subdivision actually want to list their house or use you as their buyer’s agent. Not many…. The same goes with billboards. You have thousands of people that drive by a billboard. How many of those thousands of people actually need, or want your services?
You big money for the services like radio, TV, direct mail, billboards, and what’s your return on investment? Now, I’m not saying these types of marketing don’t work. In fact they do. They’re proven forms of marketing, but your return on investment is not as great as it could be. This is where the new way of real estate is born. The new way of building, growing and scaling your business. Places like Facebook, Google, YouTube, and Instagram allow you to zero in on your target market. What if you were able to tell the radio station that you are a luxury real estate agent. And I only want your radio ads to be heard in subdivisions that have homes that are $1 million and higher. The radio station would think you’re crazy and it’s the same with TV. What if you were to tell the TV station, that you only want your commercial to only air in this particular subdivision. They would think you’re nuts. Well, you can do this with the new model for building your real estate business. Facebook, Google, YouTube, and Instagram allow you to place marketing in such a way that eliminates the waste of showing your ads to people that don’t fit into your target market. Some of these places even will allow you to market to people with certain incomes, people with certain home values, certain subdivisions, certain zip codes, and the possibilities are endless.
What this does is puts you and your business in front of the people that you want to be in front of. If you want to specialize in first time, home buyers for homes that are $200,000 to $300,000, you can zero in on just that demographic. You can’t do that with the old way of marketing. Radio will not allow you to put your ad in front of only first time home buyers. You can’t send a direct mail piece to just first time home buyers. You can’t put a commercial on first time home buyers TV. It doesn’t work that way, but the new model of building your business online will allow you to do just that.
Today’s consumers have changed. They’re with their smartphones all the time or they’re in front of their computers. With the ability to retarget people that come to your site, you can build a list of potential buyers and sellers faster than ever before. This it all starts with establishing who your target market is. So the first thing you should do when establishing your target market is sit down with a pen and paper and write down the top 10 things that come to your mind about who your target market is. What do they look like? What’s their ages? Where do they shop? Where do they live? Where do they hang out? What do they do? So think of as many of these types of questions as possible and answer them about your potential customers, those customers that you want to work with. Ask yourself….who are my dream customers? This will help you establish exactly who your target market is and what you’re looking for.
The more you can know about who your target market is, the better you’re able to personalize your marketing message to that set of demographics that you want to work with.
For more information on the training and tools to scale your business, grow your client base, boost your real estate revenues/commissions and help you become a successful Real Estate Agent go check out https://leadkast.com