Target marketing is the process of investigating and analysing your prospective consumers’ interests, hobbies, and requirements to target your message and marketing budget to the exact portion of the market that is most likely to buy your product or service. Target marketing consists of selecting an ideal audience (for property agents, a certain type of real estate buyer) and designing marketing to target that group.
Jamie Johnson, CEO of FJP Investment, offered some interesting insights into the strategy of target marketing. “Rather than limiting your customer information solely in terms of age range and level of income, target marketing will also take note of other useful things about people. For example, what difficulties or concerns are they currently having? What makes them tick? And once you have gathered this data, how can it be used to help property buyers and sellers meet their requirements? ”
When you go online, you’ll find over a billion websites and around 4 billion users who frequent social media regularly. There’s a website for anything you can think of, and someone somewhere on social media is looking for the same information. When it comes to real estate, the competition is as intense as in any other sector. By taking an online marketing strategy of casting a wide net to see what comes up, you will struggle to differentiate yourself and stand apart from the rest
With digital marketing, it’s more fruitful to have a well-defined approach and a clear vision. It might be difficult to create momentum if you’re flipping from one concept to the next. While internet property marketing might at times seem like a daunting task, there is a fundamental premise that proves true: if you talk about something repetitively and consistently, you will become well known for it.
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The Benefits of Target Marketing for Property
Prudent targeting of your preferred choice of customer will yield more fruitful results and have a greater impact. Also, it necessarily entails a more personal and meaningful experience as you will naturally have a clearer picture of your customer, and this in turn helps speak directly to both buyers and sellers. Adopting such a target marketing strategy helps you to accomplish the following:
Entice more customers
It’s simply not the case that businesses will be adversely affected when focusing on a niche. In fact, the opposite is true: target marketing develops stronger connections with a larger number of customers because the customers being targeted are more in tune with what you are marketing.
Gain a reputation as the go-to expert.
No matter what your chosen area of focus is, such as a certain geographic location or customer type, you can gain a reputation as the go-to expert in that arena. Such a reputation that is held in high esteem will facilitate branding and serve as a trusted source for clients to find what they are looking for. Remember, if you talk about something repetitively and consistently, you will become well known for it.
Focus more on value than sales.
Getting to know your customers in more detail allows you to determine what kind of help they need and what they are looking for. This, in turn, allows you to be primarily focused on providing value and not just on trying to make a sale. With a focus on providing value, you are much better placed to attract a customer to work with you, and the need to convince them is diminished. In other words, offering value to customers based on a better understanding of their needs leads to a more productive agent-buyer-seller relationship and is, therefore, less coercive, which can erode trust.
Shine above your competitors
It goes without saying, there’s intense competition both in the property market and online, if not to the point of saturation, then close to it. Target marketing helps you to tremendously to reduce the background noise, bypass uninterested parties, and harmonise with your target customers.
Productive social media presence
If you’ve ever been stumped as to what to post on social media, target marketing might be the solution you’re looking for. You can generate consistent content by selecting a specific type of person to target. This takes the guessing out of socialising and wondering what potential customers are looking for and ensures that you always have something relevant to discuss. It’s not only that, but because your content is more specific and relevant to your audience, they are more likely to share it with other people.
A combination of strategies enhances target marketing.
If you adopt a targeted marketing strategy, it’s still a good idea to combine it with other marketing strategies for maximum benefit. Target marketing can be used to supplement other techniques and doesn’t have to be the sole focus. For example, if recommendations account for over half of your business’s sales turnover, the bulk of your marketing might still be focused on engaging your established sphere.
If you want to add to this strategy, you can use targeted marketing in social media, email campaigns, and on the web to get new clients while not alienating the ones you already work with. Indeed, you could think about adding referrals as a new way to reach your targeted marketing.
The point is to get creative about how you can zero-in on your targeted customers by providing them with value and positioning yourself as the go-to source for expertise.