August 11, 2015
Before thinking about embarking on a marketing campaign or strategy, you must understand your target audience. In order to create the most effective campaign, each message must work together with the last, and also be tailored to the same target market. Failing to do this could result in valuable dollars being wasted with little results. When we ask potential clients who their target market is, they usually respond by saying “anyone with money,” which is indeed the answer that seems most logical. Unfortunately, this train of thought will surely yield poor results, as attempting to reach everyone often results in reaching no one.
As a real estate agent, or any business owner for that matter, you must fully understand your audience. If you sell homes upwards of $5 million, don’t assume your target is anyone with a net worth of over $20 million. Someone looking to live at a country club with a net worth of over $20 million is not your target audience if you sell high-rise city apartments. Thus, you’re wasting precious dollars attempting to reach an audience that is not receptive to your message.
Your goal as a real estate agent is not to convince people to change their preferences, except when the client is relying on you for direction, but instead to make your target audience aware of the home you have for sale that will meet their needs.
To identify your target audience, ask your self the following questions:
After answering these questions you should better understand the target audience for your service. Review your work, and make sure you have a true target market narrowed down. It is at this point that you can create a marketing strategy specific enough to reach your audience. Still have questions? Let’s meet.