{"id":4651,"date":"2017-09-26T23:22:31","date_gmt":"2017-09-27T05:22:31","guid":{"rendered":"http:\/\/blog.mybuyingbuddy.com\/?p=4651"},"modified":"2024-11-24T12:16:35","modified_gmt":"2024-11-24T19:16:35","slug":"real-estate-niche-marketing-theory-to-reality","status":"publish","type":"post","link":"https:\/\/buyingbuddy.com\/blog\/real-estate-niche-marketing-theory-to-reality\/","title":{"rendered":"Real Estate Niche Marketing- Taking it From Theory to Reality"},"content":{"rendered":"\n

Taking real estate niche marketing from theory to reality requires a plan.\u00a0Realtors\u00ae that make a plan<\/a> and set it in motion are far more likely to find success than those who perform marketing activities in a one-off fashion. Hoping things will fall into place is not a marketing strategy.<\/p>\n\n\n\n

I have a fortune cookie paper taped to my desk.\u00a0It says, \u201cOne dreamed of becoming. Another remained awake and became.\u201d\u00a0I love this because it\u2019s the truth.\u00a0Your real estate business dreams\/goals will never happen unless you take action.<\/p>\n\n\n\n

Here are some steps to get you started on your Real Estate niche marketing plan.<\/h1>\n\n\n\n

Identify your niche group<\/h2>\n\n\n\n

Most brokers and Realtors will tell you that specialization works.\u00a0There is a perceived additional value when you identify as a specialist rather than a generalist.\u00a0However, many real estate agents are unsure they would be able to apply this approach to their business.\u00a0If this sounds like you, then you might need to expand how you are thinking about niche groups. Here are some examples of traditional niche groups and a few you might not have thought of.<\/p>\n\n\n\n

  1. Types of buyers and sellers- You can speak to their specific interests like distressed properties, fixer-uppers and FSBOs, or their life stage like married, single, empty nesters and so on.\u00a0A third type of buyer can be identified by house specific identifiers like eco-friendly, walkable neighborhoods, and urban farming.<\/li>
  2. You can also expand your niche options by including the international buyers and sellers. There are international customers that want to work with someone who understands their special requirements and can successfully guide them through the real estate market in an environment they may not be very familiar with.<\/li><\/ol>\n\n\n\n

    Additionally, your niche focus will be enhanced if you have earned a specific real estate designation like representing Buyers (ABR\u00ae), seniors\u2019 home buying and selling needs (SRES\u00ae), global\/international real estate transactions (CIPS\u00ae), sustainable and eco-friendly housing (GREEN), resorts and second homes (RSPS), distressed property specialist (SFR), and negotiation expert (CNE).\u00a0 You also enhance your perceived value when you have an expanded skill set like VA services, relocation specialization, or the ability to speak another language.<\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    Create your ideal personas<\/h2>\n\n\n\n

    After you have identified your niche, it is time to build your persona(s)<\/a>.\u00a0In the past, a persona was often referred to as a market segment.\u00a0 However, creating a persona means that you make it more personal.\u00a0It is still an imagined person that you create, but you assign the persona more characteristics than a traditional market segment.\u00a0A persona(s) is a person or groups of people that you imagine are on the receiving end of your communications.\u00a0When you know who you are talking to, you have a better chance of getting the message right.<\/p>\n\n\n\n

    So, sit down and give your persona(s) a life.\u00a0Start with sorting the types of clients you have been most successful with.\u00a0What core characteristics and demographics make-up these clients and why were they your most successful clients?\u00a0Next, give them a name and a face.\u00a0You can be as creative or as realistic with the name as you would like and choose a representative stock image to use as you envision your customer.<\/p>\n\n\n\n

    You continue to bring them to life by creating a life for them. Make their day to day and long-term stories.\u00a0Then, identify their challenges and objections with their current situation.\u00a0This will tell you where you can help them and how you can reach them.\u00a0The goal of creating content for these personas is to help them solve a problem and be the one they easily find when they need a solution to a real estate need.<\/p>\n\n\n\n

    Finally, you can begin to create your messaging and content.\u00a0The content will be valuable and easy to locate because you know who you are talking to and why, and you know where your customer will find your information all because you took the time to create a persona.<\/p>\n\n\n\n

    Create your real estate niche marketing plan<\/h2>\n\n\n\n

    It\u2019s go time!<\/p>\n\n\n\n

    In this step, you finalize and execute your Real Estate niche marketing plan, and get your services in front of customers and potential customers.<\/p>\n\n\n\n

    1. Inbound Marketing: Inbound marketing is a popular strategy because, for many industries, it yields higher results than traditional outbound strategies. With an inbound marketing strategy, you will turn your attention to activities that lend themselves to thought-leadership like blog posts, whitepapers, case studies delivered through CTAs (calls to action i.e. click here to read) on social mediums like Facebook, Twitter, LinkedIn and even Active Rain.\u00a0This valuable collateral is offered, occasionally for a cost, in exchange for reader contact information.\u00a0 If you have done your job right, the information you are offering is valuable enough that the potential customer is willing to make the trade.<\/li>
    2. Outbound Marketing: These are the more traditional approaches, including mailers, unsolicited emails, advertising, cold calls and door knocking to name a few.<\/li><\/ol>\n\n\n\n

      Once you know your strategy, in real estate niche marketing it will most likely be a mix of the two, you will need to do your due diligence to determine what your cost per lead<\/a> should look like. With all of the above in place, you will be able to make decisions about where to spend your marketing budget to see the highest ROI possible.<\/p>\n\n\n\n

      It is at this point you must also set goals and benchmarks.\u00a0Be realistic, make your goals tangible and do your research to make sure you identify industry standards as you set your bar.<\/p>\n\n\n\n

      \"\"<\/figure>\n\n\n\n

      Collect, nurture, and close deals<\/h2>\n\n\n\n

      You will capture your leads at the top of the sales funnel through appropriate \u201cawareness\u201d content.\u00a0For example, a blog or newsletter worth reading, social media posts, reviews and free offerings like guides and tips or longer form pieces like white papers and eBooks.\u00a0Provide helpful content that will inspire your prospects to engage with your company. \u00a0For example, a blog titled, \u201cWhat to expect, When You\u2019re Expecting to Buy a Home.\u201d It is a play on a famous title and should provide someone new to real estate some helpful guidance.<\/p>\n\n\n\n

      After you have attracted leads with quality, relevant, and valuable content you need a place to nurture and manage them- enter the Real Estate IDX CRM<\/a>.\u00a0A tightly integrated real estate specific system can help you to track the activities of every lead.\u00a0 Automated action plans<\/a>, drip campaigns, mass email, and automated calling all become a part of your nurture program automated through your CRM.<\/p>\n\n\n\n

      If your services are seen as a good fit for the buyer\/seller, and you have managed the awareness stage correctly, your leads will move through the funnel to the consideration stage.\u00a0At this stage, your lead knows who you are, and becomes a sales opportunity. Your biggest goal at this stage is to remain top of mind by showing the buyer\/seller that you care about their pain points.\u00a0You must consistently show your value.\u00a0You can do this through automated email drip campaigns that include calls to action (CTA).\u00a0For example, download a case studies\/testimonials or additional ebooks and whitepapers.<\/p>\n\n\n\n

      All of your hard work has now paid off. They have now moved to the bottom of the sales funnel and entered the purchase stage.\u00a0 At this point, the buyer\/seller trusts that your expertise will help them meet their Real Estate goals.\u00a0 You must now make them comfortable with making very important decisions.\u00a0You should still give them guidance that will help them make their choice by providing additional information, decision guides and home buying or selling checklists.<\/p>\n\n\n\n

      Getting all of this right is important in order to take them into the final stage of buying or selling with you.\u00a0 You now have a client, but the marketing road does not end there. That, however, is another topic for another blog.<\/p>\n\n\n\n

      Growing your business<\/h3>\n\n\n\n

      When it comes to growing a thriving business, let\u2019s follow the advice of the fortune cookie on my desk and \u201cstay awake and become.\u201d  For Realtors and agents, this means making your real estate niche marketing plan, executing on it and managing it in a Real Estate specific IDX CRM<\/a>.  If you need help selecting a Real Estate IDX CRM solution that will help you manage your Real Estate niche marketing plan, contact us<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Taking real estate niche marketing from theory to reality requires a plan.\u00a0Realtors\u00ae that make a plan and set it in motion are far more likely to find success than those who perform marketing activities in a one-off fashion. Hoping things will fall into place is not a marketing strategy. I have a fortune cookie paper taped to my desk.\u00a0It says, …<\/p>\n","protected":false},"author":4,"featured_media":4979,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[253,158,159,184],"tags":[292,199,176],"class_list":["post-4651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-how-to","category-announcements","category-real-estate-marketing","tag-hyper-local-marketing","tag-real-estate-crm","tag-real-estate-marketing"],"yoast_head":"\nTaking Real Estate niche marketing from theory to reality in Real Estate<\/title>\n<meta name=\"description\" content=\"Taking Real Estate niche marketing from theory to reality requires a plan. Realtors that plan are more likely to succeed. 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