Target Marketing Is Critical For Growing Your Real Estate Business!
Most realtors have trouble defining the target niche for their business in order to expand their sphere of influence, taking their farming activities to a new level and grow their business. Sometimes, the need to focus on a niche in the first place is just a hard concept to understand.
A niche by its very definition seems limiting, and who wants to lose out on any potential new business? While this may seem like a concern, not missing out on the BIGGEST opportunities is exactly the point of narrowing your brand’s focus to a specific niche market!
You are proactively marketing, promoting, and selling your business all the time by establishing new relationships…and relationships are formed by adding value. How do you add value if you are trying to appeal to everyone, or a very broad market? Value is created when you help meet someone’s unmet needs. The more focused you are on a niche market, the better you can understand and focus in on meeting their unique needs and solving their particular problems.
The best niche for your business is one that you are right in the middle of yourself. You may be a homeschool mom, a cancer survivor, a marathoner, ex-military, etc. Use that passion, interest or problem in life that you have overcome to reach out to a large niche market of people just like you! Not only will you understand their needs through and through, but they will see you as somebody who REALLY gets it and therefore gets them! You’ll have built in credibility and relationship-starting tools that you’ve never had before. AND YOU WON’T BE COMPETING WITH EVERYONE ELSE FOR THE SAME PEOPLE.
If that isn’t enough, your learning curve will be dramatically smaller because you selected a niche that you are right in the middle of yourself. You know your niche, their wants, needs and desires. You get them, and thus also get, better than anyone, how to motivate them into action. You will have carved out your own market, decreased your competition and increased your chances of success dramatically. It’s always easier to reach out and talk to people that you have a lot in common with anyways. Selecting a target niche is the best way to farm successfully!
Think about it this way, it is essential to make sure that all of the efforts you make (with your limited time to market the business) are getting maximum return. You may have heard the saying, “Are you working hard at your marketing, or is your marketing working hard for you?” If you are going to be putting in all of that effort, you need to make sure that you are laser-focused on meeting the core needs of your target niche. The more focused those needs can be defined, the better job you can do addressing them with your brand’s promise! This will create a much stronger attraction to you and traction overall for your business!
HERE IS A GREAT ANALOGY: Would you use the same fishing pole and bait to fish anywhere in the world, for any kind of fish? Fly Fishing? Catching Marlin? Of course you wouldn’t! You need very specific gear, bait and experience for each situation! I wouldn’t want to be at a professional fishing competition with my son’s Spiderman pole asking the guy next to me what we’re trying to catch!
If you are going to attract and catch (greater conversion rates) high quality leads for your business, you need to set out to do just that; for the right kind of fish! This doesn’t mean that there won’t be others that you attract to your business! What it does mean is that you will have thought through the all-important question that people within your target market niche will ask themselves with every interaction they make with you and your brand; WHAT’S IN IT FOR ME?
Give your business the best chance to succeed from the very beginning! Target your real estate business towards a very specific and well-defined niche. NICHES ONLINE ARE NOT TINY or limiting! Your niche will be the lifeblood for your business and much larger than you could ever imagine farming one-on-one and in person! Now go out there and starting building new relationships with greater ease that you have ever done before.