Three Steps To Effective Real Estate Marketing
By Vince TestaThere are three steps to effective real estate marketing. Miss any one of them or get them out of order and the effectiveness of your marketing falls off considerably. Unfortunately, most marketing efforts start with step 3 and miss the other 2 completely.
Media is how we communicate our message. It could be through TV, radio, newspaper, direct mail, internet, or whatever. Most people start with the media and then figure out what they want to say. They rarely consider who they are trying to reach.
Market, or target market is "who" you are trying to reach with your marketing. The message is the "what" we want to say to them. And the media is 'how' we are able to communicate it.
Once you have defined a market, the who part, only then can you craft a message that is going to be effective. The message needs to speak directly to the market in order to first get their attention, and then provide a benefit to the prospect. Once we have these two things in place, it should always be consistent throughout any media you may use.
If you don't define exactly who your market is, then you won't know what to say that is important to them in your message. The media itself, or the advertising as I refer to it, is the least important part.
The media is the tactical part of marketing; where as the market and the message are the strategic part. Planning the strategy correctly is more important than how you get the message across. Of course there are certain types of media that are more effective than others depending on who the market is.
In real estate, I always try to target the market that is going to be the best use of your time, therefore the most profitable. You start with geography, then buyers or sellers, then maybe price range, etc. For example, a few years ago when the market was booming, I went with primarily listings of more expensive homes. In our area that was 400,000 to 600,000 dollars. But they are now the intermediate priced homes which have historically always been the first to slow down. So I now have changed my strategy to target buyers rather than sellers. And I have lowered the price range to appeal to first time buyers. The lower price range is where the majority of the activity is currently in our local market.
So to apply what I said above, the needs of a first time home buyer are far different than those of a second or third time home seller. Therefore, the message will need to be very different for each. The point is you can't do what you were doing two years ago because the market has changed.
To learn more about real estate marketing that works, get your copy of the FREE mini-course, "How To Double Your Real Estate Income In the Next 6-12 Months, No Matter What The Current Market Is Doing!"
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Vince Testa is a full time marketing coach and consultant with over 30 years experience in marketing, real estate, and personal development.
Your comments are welcome at My Real Estate Marketing Blog
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10.28.2007. 18:43
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