5 ‘Power’ Steps to Better Real Estate Marketing Results

 Print Article

By Brian Wildermuth

RISMEDIA, Feb. 18, 2008-Target marketing is one of corporate America’s most effective business strategies. The goal is to increase sales by first identifying, and then targeting smaller, yet more profitable customer groups within the total market.

As a rule, most real estate agents accept the general population as their market – more specifically, anyone who owns a home or rents. However, some foresighted real estate agents recognize the value of attracting specific types of buyers and sellers. Others use target marketing as an adjunct to their normal business.

Whatever the group or ultimate goal, to achieve better marketing results, successful target marketers know that the marketing message they send must be planned, consistent, and of course, targeted.

Here are five power tips on how to become an effective target marketer:

1. Create a plan. Sending out random direct-mailers whenever the mood strikes you is not an effective way to target your audience. A well thought-out plan that takes into consideration the target audience’s demographics, a specific message and brand promise, a budget, frequency of communication, and an overall goal will likely deliver more effective results. The absence of a plan is like setting out on a journey without a map. Successful marketing requires some up-front time and effort to develop, but once laid out, the execution is much easier and will produce more measurable results.

2. Organize and sort your database. A structured customer list is essential to creating effective messaging. There is no easier more effective way to manage your marketing efforts than with an electronic contact management system. A good contact management system enables you to group your contacts and maintain critical information related to your clients’ needs. This could be as simple as storing information about your client that you might otherwise forget. Take it a step further, and keep information about their preferred method of communication – E-mail, direct mail, phone, or personal visits. The goal is to organize your contact information in such a way that will make communicating with them simpler and more relevant.

3. Always be consistent. The frequency with which you communicate your message is equally as important as what you say in your message. Why? Because your target audience is more likely to remember you when it comes time to buy or sell a home if they have seen your name more frequently (this is why effective companies that advertise on TV and/or the radio run multiple commercials per day as opposed to one every few weeks). A prominent real estate expert once did a study of the marketing habits of top producing real estate agents. He found that agents who communicated once per month for a year with their farm area were able to produce 1 new transaction for every 50 people that they stayed in front of. More strikingly, agents who consistently communicated more than 30 times per year with their sphere of influence (friends, family, neighbors, past clients) through a combination of e-mail, direct mail, personal visits, and phone calls were likely to yield 2 new transactions for every 12 people they stayed in touch with.

4. Target the interests of your audience. It has always struck me as odd that some real estate agents spend thousands of dollars per year on direct-mail that has no relevance to a majority of the audience to which they are mailing. For example, why send recipe cards to an entire farm or sphere when statistics show that many Americans are dining out more often? For more effective results, focus your message on the interests and/or demographics of your target audience.

5. For the broad marketing segment (i.e. your sphere), learn and record the interests of each of your contacts. This way, you can send the latest area golf courses to those who enjoy golf and home improvement tips to those who enjoy working on their home. For the more narrowed niche (i.e. move-up buyers), the task for targeting your message becomes easier. Select a message that educates or informs the target audience of not only why and how they can move up to a larger home, but why and how your expertise can help them realize their goal. Select the appropriate method of distributing your message for each demographic.

Today’s consumer-base includes members of multiple generations, and each requires a different method of communication in order for you to be heard. For example, the Generation Y consumer is fairly self-sufficient and seeks out information on the web, in blogs, and via text messaging while the X Generation is all about e-mail and a hand written note goes a long way with a Civic. In order to build relationships and target each specific generation, you need to send/publish your information in a manner in which they are accustomed to being communicated with.

Targeting a specific customer group allows you to focus your message for a more strategic approach to marketing. Targeting the message you send to your audience will ensure that your message will be heard.

©2008 SharperAgent

Brian Wildermuth is the co-founder and president of SharperAgent, and a national speaker in the field of real estate marketing.

For more information, visit www.sharperagent.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

For more marketing advice, see:

• How to Brand Yourself a Superstar  
  Targeting the Internet Generation  
  8 Steps to a Better First Impression