Niche marketing! That’s it. If you got it read no more. If you don’t then read on my friend.
Have you ever heard the saying “The Riches Are In The Niches”? Well, it’s true. The reality is that most real estate agents are trying to be all things to all people. They get into the Real Estate business and realize that it’s not as easy as they thought to generate commissions. They try postcard campaigns thinking they have the right message and spend a few hundred or a few thousand dollars on the postcard campaign and STRIKE OUT! Yikes. That hurt. I met a student in Whittier California a few years ago who sent out 7,000 cards – SEVEN THOUSAND! – And didn’t get a single phone call. Lord has mercy!
The fact is she wasn’t speaking to anybody. She was trying to speak to everybody. And everybody knew it. And they didn’t care one bit about what she had to say because they saw it as junk mail and they felt like just another number. Would you probably feel the same way, wouldn’t you? Of course.
You see, one of the secrets to marketing is that you have to “enter the conversation that already going on inside their head”. Well, what does that mean? What it means is that you have to put yourself in the shoes of the person you want to reach and think about what they are thinking about. This brings up a VERY IMPORTANT requirement. The requirement is that you have to know WHO it is you are reaching out to. In other words, you have to be able to define that person. And when you can define that person you can better understand them and their needs and wants. Are you with me so far?
Great! The next step is to narrow down the scope of your effort. What I mean is that if you try to address what I call a subgroup like first time home buyers that is still too broad of a group. It is not what we like to call a niche group. With a subgroup, you will still find yourself usually using mass marketing techniques which means you can’t address people by name for example. This may sound extreme but this is the point. Question: would you more likely respond to a postcard that started Dear Friend, or Dear Neighbor? Or you are more likely to respond to a personally signed letter that was sent to you in a plain vanilla envelope with your name and address handwritten on the outside?
- I think we’re making progress here. The next thing to consider is that you can actually get real names and addresses and usually for free! However, do you want to and are you equipped to handle a large batch of letters where the name and address are handwritten and the letter is hand signed? Usually, the answer is no. However, can you send out a few dozen of these hand-signed gems? I hope the answer is yes (or maybe you’re in the wrong business!). There are two points here. The first being that more people are more inclined to open a letter that is hand signed in an envelope that is hand addressed than they are a postcard. The second being that if you are going to do this correctly you need to have a single purpose in mind and articulate a single message to someone who is predetermined to be interested in what you have to say. So far so good?
Good here is an example of what I am talking about. I am a Real Estate Investor as well as a Real Estate Broker. In fact, I got my Real Estate License because most agents were not properly trained to work with me as an investor. That’s another story for another time actually, look for a special report titled “Seven Reasons Why Real Estate Agents Should Work With Real Estate Investors”. It will be a real eye opener for you if catering To An Increasingly International Real Estate Investor Base- Rebranded https://www.forbes.com/sites/forbesrealestatecouncil/2018/01/24/catering-to-an-increasingly-international-real-estate-investor-base/#5f7112c0407f 27-Jan-18 https://www.myinvestmentservices.com/catering-to-an-increasingly-international-real-estate-investor-base-rebranded/ur are a Real Estate Agent. Back to the subject though. As an investor, I prefer to acquire rental properties. In fact, I prefer large residential buildings. I buy them and I sell them. Just like the boat, every piece of real estate, especially investment properties, is for sale. As such, if someone were to write a letter to me, addressed to me personally on the envelope and upon opening the letter the salutation was to me personally and in my first name, this particular letter would get my attention. Furthermore, it would pique my interest if it mentioned one if my properties by address in the first sentence. Are you picking up what I’m laying down?
Awesome, because there is one more key point here. That is that you should write the letter as if you are speaking to one person directly because you are! This is another critical factor and one that most marketers are either unaware of or ignore or forget.
I sincerely hope this discussion helps you in your efforts. It certainly has been a huge factor in my success. If you would like to get a bigger picture of how I went from being just an investor to being an investor and a Real Estate Broker making a lot more money please feel free to order your free copy of a case study I did on the subject just visit: https://www.myinvestmentservices.com/gift/ and in just a few clicks you’ll get the case study.
Take care and God Bless!
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