Hello, and welcome to episode 17 of Real Estate Mastery - How To Create A Lifestyle That Doesn’t Require Your Presence
In this podcast, I really want to talk about marketing. I know I have touched on it in previous episodes, but today I really want to encourage you to look at the types of marketing you are doing and what message you are sending.
Getting Lazy
Whether you are an agent, investor, or home buyer, marketing is something we all think about. Personally, I get complacent when business is doing well. I don’t put in the same level of effort as I do when things are slow. This year, things are slower for me than in years past, and I think the biggest reason for this is the increased amount of competition. In the past 6 months, there has been an increase in people buying houses. Many more than there were 36, 24, and even versus 12 months ago.
Setting Yourself Apart
As an investor and home buyer, I feel like whenever I tell someone what I do, they have a friend, cousin, or brother who is doing the same thing. There are agents, novice investors, and wholesalers all getting in the game - and we are all going after the same customers and clients.
I see a lot of ads from agents and homebuyers that do nothing but talk about themselves. The big agencies do the brand building, telling you how many millions of customers they have worked with or how many houses they have sold. Homebuyers will tell you they will buy as-is or how many tears in business. While these things can be benefits, it doesn’t do anything to make you stand out from everyone else who is trying to buy real estate. Your customer doesn’t care about how many houses you’ve sold, they care about finding a solution to their problem. Your customer wants to know… “What’s in it for me?”
When we deploy our marketing messages, no matter which media we are using, we let home sellers know exactly how we will benefit them. What will make them want to call us vs. anyone else? We strive to make our marketing compelling so people call us when it is time to sell their home.
What Can I Offer?
Over the past few weeks, I have really been thinking about the offers I am making. There are so many benefits that could be applicable to many home buyers. No repairs, no closing costs, no commissions, allowing the seller to stay past the closing date to ensure an easy transition, and so on. While these are great benefits, there is nothing compelling that makes a person want to call us. With so many people saying the same thing, my focus now is what I can offer to set myself apart from other home buyers. What can I do to make a truly great offer that will be of great service to my clients and customers?
The Three M’s Principle
In marketing 101, you learn about the Three M’s Principle. The three M’s stand for:
- Your Market
- Your Message
- Your Media
Before using the principle, it’s important to get clear about who your ideal client or customer would be. Who do you want to work with? In the space of buying houses, I will work with anyone who needs to sell, but there is certainly an ideal customer vs. just any home seller.
The Market - Who is your market and what are they looking for? Are they reading the newspaper, watching TV, or spending their time online?
Message - What message to you want to provide your potential customers? For example, if you are looking for first-time homebuyers, does your message say that? Or is your message confusing to your client or customer?
Media - How are you going to reach your ideal customer? There are several options including direct mail, tv ads, radio spots, social media, PPC, and other forms of digital media. Ask yourself, “where is my ideal client going to be?” If they are watching TV, are their specific shows or channels they watch where they might see your ad?
Consistency In Your Message
In your marketing, especially if you are paying for someone to do it for you, you need to make sure your message is consistent. Does the PPC ad go with the landing page it’s linked to? I’ve seen ads where you click, and the landing page has nothing to do with the ad or the message isn’t immediately clear. You need to know exactly what messages are being delivered to your customers. You want to attract them, not repel them.
I encourage you to take a look at your marketing. While some things cost a good deal of money, other things can be done rather inexpensively. Remember to focus on your target market, providing them with the right message, using the right media.
If you want more information or want to learn more about what I can do to help you in your business, please reach out!
Look forward to talking to you soon!
Resources:
