Real estate agents: do you know your target market?
Not all home buyers are created equally - each has their own set of wants and needs, and if you want your marketing to be effective, you’ll have to know who you are marketing to.
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 capital being wasted with little results.
Saying that ‘home buyers’ is your target audience is not wrong, however, you can be assured that trying to market to an audience this broad will only cost you more than generating the leads you want.
As a real estate agent or any business owner for that matter, you must fully understand your audience. If you sell homes upwards of R5 million, don’t assume your target is anyone with a net worth of over R20 million. Someone looking to live in a sought-after golf estate with a net worth of over R20 million is not your target audience if you sell high-rise city apartments. Thus, marketing to the wrong audience is not only wasting your time - it is costing you money that could have been spent elsewhere.
To identify your target audience, ask yourself the following questions:
Once you have answered these questions you can set out to create your marketing campaign.
For example, if you have newly developed apartments close to a popular university on the books it stands to reason that you will get more exposure if you market to the younger demographic. Using mediums such as Facebook, Youtube, Twitter and Instagram will serve you much better than print ads in the local newspaper. On the other hand - if you have a high-value property in a sought-after estate, why not send out press releases with stunning photography that can be published in newspapers, online news platforms and your own website. Have professionally designed brochures printed, network with local property lawyers and ask them if you can leave a few brochures in their waiting rooms.
It is all about being honest about your audience, marketing to them and actively engaging with them to generate leads.
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 capital being wasted with little results.
Saying that ‘home buyers’ is your target audience is not wrong, however, you can be assured that trying to market to an audience this broad will only cost you more than generating the leads you want.
As a real estate agent or any business owner for that matter, you must fully understand your audience. If you sell homes upwards of R5 million, don’t assume your target is anyone with a net worth of over R20 million. Someone looking to live in a sought-after golf estate with a net worth of over R20 million is not your target audience if you sell high-rise city apartments. Thus, marketing to the wrong audience is not only wasting your time - it is costing you money that could have been spent elsewhere.
To identify your target audience, ask yourself the following questions:
- What is the desired action? Do you want home buyers, sellers or tenants?
- What demographic group is most likely to take action? Here is where you describe your audience in terms of gender, age group, location, marital status, income level, education, and possibly even occupation.
- How does your audience think? It is important to get the more personal questions that tell you who they truly are and begin to describe their personality. Ask yourself how your target behaves, along with defining their personality, lifestyle, attitude, and interests. This will tell you a lot about the type of marketing that will resonate with potential clients and generate results.
- What are their existing needs and frustrations? This helps determine a message that will resonate with them. Don’t expect your audience to give you money without satisfying one of their needs.
- What is it that drives potential clients to make a purchase decision? What will drive your audience to either list a home with you or purchase a home from you? What obstacles should be overcome?
- What media does your audience engage with? Is it online news? Printed news? Magazines? The answer matters.
Once you have answered these questions you can set out to create your marketing campaign.
For example, if you have newly developed apartments close to a popular university on the books it stands to reason that you will get more exposure if you market to the younger demographic. Using mediums such as Facebook, Youtube, Twitter and Instagram will serve you much better than print ads in the local newspaper. On the other hand - if you have a high-value property in a sought-after estate, why not send out press releases with stunning photography that can be published in newspapers, online news platforms and your own website. Have professionally designed brochures printed, network with local property lawyers and ask them if you can leave a few brochures in their waiting rooms.
It is all about being honest about your audience, marketing to them and actively engaging with them to generate leads.
