When developing a marketing strategy it is much more than deciding what form of marketing you will do. You can’t just say, “I’m going to mail out 100 postcards on my new listing and knock on 200 doors this week. Developing a marketing strategy requires you to determine 3 keys.
These three keys are:
- Who am I?
- Who is my competition?
- Who is my target market?
Only when you identify these 3 factors will you begin to put the puzzle together.
Let’s start with the first one. You have to take an in-depth look at the business you have built and who you truly are as a person. After you have done this you can develop, or tweak if you already have one, a vision statement that portrays who you and your company truly are.
Defining who your competition is means you need to look at their image, how many homes they have listed and how many they have sold. You need to look at their marketing efforts as if you were planning to do business with them. When you do this, you can determine where you will fit in the same market.
The last key is determining your target market. Answering this question will require you to know your numbers. You need to know their demographics such as salary, lifestyle, jobs, and educational level. You will also need to know where they are coming from geographically and where they are finding you. Did they move from out of state and find you on your website, or are they local and were referred by someone?
After you look at that information you need to determine what your clients want from you. You will get this information by looking at what your competitors have been doing. You can see what price range has been selling, the size of the home, the neighborhoods that are selling well. This will tell you what your potential and current clients are looking for.
After you have truly gotten into the heart of your business, you can then start formulating what you will do to effectively market yourself to your clients and your listings to potential clients.When you look at these three keys in depth before beginning your marketing your efforts will be like arrows to the bullseye!
Be sure and leave me a comment with your thoughts or your ideas on effectively marketing! I love hearing from my readers!
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