Developing and Implementing a Plan
There are many ways in which to successfully market to a niche. A geographic location is the most common form of niche marketing. In lieu of a geographic location, however, you may want to become the Realtor who is an expert in working with another type of niche. Perhaps a demographic niche. Those who are newly divorced, first time buyers or the Realtor who specializes in helping empty-nesters. Naturally, it helps if you already have a thorough knowledge about or passion for a niche, or even fit into the category yourself.
Prepare a basic written report on the needs, expectations and tendencies of homeowners in your niche.
This information will form the basis of all your marketing efforts in the future. The act of writing will help you determine the needs of your niche and help you find out if you have enough knowledge to serve them. If you feel you lack knowledge, focus on learning what you need to learn.
Develop and implement your marketing strategy.
The plan you create will include deciding how to reach your niche and how to develop a strong presence within that niche.
To plan your marketing strategy:
A. Develop a strong USP within that niche. Decide exactly what makes you special and what makes you different from every other Realtor. Put that into words – your “Unique Selling Proposition.” For example, your USP could be as simple as “The expert in helping empty nesters find the perfect home.”
B. Figure out how to reach homeowners in your niche. Discover the “touchpoints” for your niche-where homeowners in your niche spend their time, what publications they read and which websites they visit. Conduct research to determine which keywords they are searching for in Google and what they are really looking for in a Realtor. Discover their most common questions and their most important needs. Instead of marketing to everyone, you are marketing to the people most likely to need you.
C. Write the ultimate guide for homeowners in your niche. Develop a newsletter that is informative and answers all the common questions that homeowners in your niche will have. This report will form that basis of your marketing efforts because you will be able to include it in all of your marketing pieces, thereby reinforcing your position as an expert in your niche.
D. Become a published expert in your niche. Write as much as you can about your niche and publish these articles in as many forms as possible. In addition to your newsletter, write articles for your blog which contain the keywords homeowners in your niche are using so that you are more likely to show up in a high position within the search engines. Or use a local publication. At the end of each article, make sure you include a call to action, encouraging people to contact you.
E. Develop a relationship with your niche. Keep educating and informing your farm on a regular basis with useful advice over the long term. Appear in places where you are likely to see them and create opportunities for interaction with them.
F. Be consistent in your branding and your message. Don’t deviate from your position in the marketplace. Make sure everything you do, the words you use and the images you choose are consistent with your position.
In real estate, as in life, you have to give up something in order to gain. To be truly successful at niche marketing, you need to be willing to focus your entire marketing efforts on your area of expertise. If that is not something that you are willing to do, then your niche marketing efforts are destined for failure.
What are the benefits of niche marketing?
What are the pitfalls?
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