Few things are more important to the typical residential redeveloper than a real estate marketing campaign. Nothing, as far as I am aware, can set your business up for more success than a properly executed marketing funnel. Where do you think all of those leads are coming from?
It’s worth noting, however, that a truly great real estate marketing campaign isn’t going to create itself. If you want to benefit from a great marketing strategy, you will need to mind due diligence, strategize and plan accordingly. Only those that put in the work beforehand will be able to realize the potential of a great marketing campaign. Today’s best investors realize it, and there is no reason you shouldn’t: a proper real estate marketing campaign is the secret to a successful business.
In order to get to a point in which your real estate marketing campaign is working for you, instead of against you, you must first lay the proper foundation. Unbeknownst to many, however, that foundation starts with the investor. You must first clarify some things for yourself before you can even consider executing a marketing strategy. And in doing so, I recommend asking yourself some very important questions.
I want to make it abundantly clear: I am not asking you to challenge conventional wisdom, but rather seek clarity. In asking yourself three simple questions, you should be able to lay the foundation for a sound real estate marketing campaign.
Real Estate Marketing Campaign Questions
What Niche Am I currently Serving?
Real estate investing is as diverse as it is comprehensive. And as such, there are a number of ways one could go about making a name for themselves. Most new investors are better off focusing on a niche, as to not stretch themselves too thin before they get the hang of things. Not surprisingly, the same concept applies to the average real estate marketing campaign. Those that intend to service every area of the market will quickly find that they aren’t able to master any, but rather paint themselves as a “jack of all trades.” And while you may not associate such a moniker with a negative connotation, it’s better to be the master of one niche than the second fiddle in a number of others.
Having said that, a specialized marketing strategy will make it a lot easier to stand out as the best in your respective market. At the very least, specialization awards you the opportunity to stand out from the pack. What’s more, it can define your business while simultaneously answering more questions than it asks. Perhaps even more importantly, it allows you to build a strong foundation on which to build a brand.
Those that are new to the industry have to identify they niche in which their company currently operates. Only then will you be able to meet the needs of those you serve. Once your target audience is aware of your specialization, there is no reason to believe they won’t choose you based on merit alone.
Who Is My Intended Audience?
Those intent on initiating a marketing campaign had better get one thing straight: who their audience is. If for nothing else, even the best marketing campaigns will fall on deaf ears if they aren’t directed at a specific demographic. The only way to convey your message in an efficient manner is to identify who is on the receiving end. So before you go and spend your entire budget on what you assume to be your target audience, make sure you know who you are talking to (beyond the shadow of a doubt).
For those looking to catch the attention of a particular audience, I highly recommend creating a character profile; one that highlights every fundamental demographic of your ideal clientele. And for what it’s worth, what you hope to accomplish as a investor will dictate your audience, not the other way around.
What age group are you interested in catering to? Do the people you intend to capture the business of fall within a certain socioeconomic profile? Or, perhaps you want to get more specific. As a real estate investor, the more you are able to learn about your audience, the better. Get some boots on the ground, mind due diligence and, above all, get to know the very people you intend to serve.
When all is said and done, it’s not so much that you should understand who you are speaking to, but rather how to speak directly to them. If for nothing else, knowing how to speak to an audience will elicit a more positive response than, say, a practice in ignorance. One thing is for certain: those that don’t know their audience certainly won’t know how to speak to them. At the very least, familiarizing yourself with those you intend to cater to will award you the opportunity to express yourself in a more efficient way; one that is better suited to your endgame as a real estate investor. Only once your audience is captivated by your message will you see improvements in your response rate. And only once you know your audience can you captivate them. What is marketing if not a means of captivating a particular group of people?
What Problems Do My Services Address?
Very few (if any) inquiries resonate on a higher level than those that question the purpose of your entire real estate marketing campaign. Quite simply, it’s not about what you have to offer those you intend to serve, but rather the solutions you can provide for the problems your customers already have. Remember, most customers aren’t looking for the latest and greatest; they are looking for a specific solution to an existing problem.
Instead of relegating your marketing approach to the things you do well, your campaign should pay special considerations to the solutions your service provides. It’s a small difference, but a difference nonetheless: your clientele (especially in the real estate industry) will tend to gravitate to where they can find the answers to their problems. If you can identify the issues bothering the majority of your clients, there is no reason you shouldn’t be able to draft a marketing campaign tailor-made to speak to their needs; think about how powerful of a message that sends.
A truly great real estate marketing campaign is the result of countless hours of hard work. However, before you can actually implement your own strategy, you need to know which direction you intend to head. With a roadmap of sorts, it will be a lot easier to get to where you want to go. I maintain that those who can answer these three questions with confidence will know the direction they want to go, and be better off because of it.