Who is your target audience? 5 key groups to focus on
September is Marketing and Branding Month in Inman. This means we are talking to the marketing directors of the major brokerage houses about how the pandemic is changing their work and what it means for agents. We are publishing a suite of Inman Tactical Manuals for Marketing on Digital Portals. And we take a look at which pages of the traditional marketing manual still work. Join us all month.
When asked who their “target audience” is, most agents and brokers simply state that this is their “target audience”.sphere of influence“- or worse,” buyers and sellers. “I disagree.
In fact, most agents lose more business than they convert because they don’t have a clear understanding of where their business is coming from. So, let’s identify the top five audiences that every agent should to do marketing for regularly.
1. Past customers
Former clients are the most obvious group to identify. These are people who know you, love you and trust you because they already know what to expect when working with you.
Unfortunately, agents often close the deal and then close the relationship by failing to keep in touch regularly. They mistakenly assume that the customer will no longer need their services in the years to come. The problem is, most old clients often repeat a great agent and benchmark company between transactions.
There are two groups of people: people you know and people you don’t (yet) know. Which one is the biggest? Of course, people you don’t know. Which one to prospect? The answer is the two.
Most agents tend to respond to one or the other. So the lost opportunity is to think that your current SELF is good enough. The truth is, no. You should add new prospects to your pipeline on a consistent basis.
Have you seriously thought about the value of the relationships you have with other real estate professionals? Think about the quality of the opportunities you could generate with a consistent referral partner in another part of the country or your state. What about a referral agent specializing in a niche where they could deliver an exceptional customer experience?
A common mistake of agents is to think that they can do anything instead of thinking about the customer first. Just because your license allows you to do something (like sell commercial or luxury real estate) doesn’t mean you need to do it. In other words, if you are primarily a residential agent. Wouldn’t it be better to refer the client to a trusted colleague and then retrieve your reference costs?
4. Vendors and ancillary partners
You refer people to your favorite lender, inspector, title company, or lawyer all the time! Are they returning business? Are you asking for the business? Why not?
Share opportunities, testimonials and mutual references with your suppliers and auxiliary partners. A motivated, qualified and loyal customer and closed transaction has the potential to be much more valuable to you than shared co-marketing expenses.
5. Friends and family
Sometimes working with close friends and family as clients can be a challenge, to say the least. However, they are often our biggest and wildest fans. Are you focused on coaching your friends and family to praise you?
Provide content for this group that supports their claim that you are the best to work with. Let them demonstrate their knowledge of who you are through testimonials, shares and conversations. Train them and thank them for supporting your business with their references and validation of your profession.
You want to know the most efficient tool to communicate these various messages to these various groups? Video! But that’s a topic for another day. In the meantime, are you friends, following or marketing to all of your target audience? Are they receiving relevant, consistent and useful information from you through your various marketing channels?
Start segment your database against these five key audiences and deliver relevant content for each group and watch your business grow. Because clarity is the key to abundance, let’s be clear, consistent and determined to develop our true target audiences.