Realty Blogging did a fantastic job at opening up and presenting the world of niche marketing, and it's contrast to mass marketing. "The problem today is that people are being inundated with disruptive, uninvited messages that they don't even remember them, much less respond." (pg.105)
Coming from a generation that grew up "on" television, I have seen a lot of advertising ... After a point, it all becomes white noise. Now that we have the internet as a permanent fixture in the scenery, mass marketing has really expanded. At least the internet offers pop-up blockers! (Too bad there aren't pop-up blockers for other parts of my life...)
What I am getting at is this ...
Mass marketing has gotten so ineffective that it has, by default, been pushed into the realm of entirely too obnoxious, thereby forcing us to build our lives around avoiding it!
... TiVo ... Satellite Radio ... MP3 players ... pop-up blockers ... city sign ordinances ...etc.
• But we are in a business that demands marketing, so what do we do?
Well, let's first analyze WHY mass marketing doesn't work, shall we? Ok.
Consumers know that they have too many choices to be lead by ...one. Being everything to everyone is no longer an option. Even Wal-Mart, the king of the "everything concept" can't be everything to everyone. There are plenty of people who avoid national chains in favor of local businesses. So, if Wal-Mart can't be all things to all people, why should YOU try? ... The answer? You shouldn't.
• Then, what do we do if we are not mass marketing?
Niche Marketing is the answer. Now, I say niche like this: N-Itch, whereas Mary McKnight says it like this: Neeshe (like "quiche"). (She is probably correct, but I like my way better ... it makes more sense with my title...) However, it is not the pronunciation, but the theory of Niche Marketing that is important.
• What is a niche?
A situation or activity specially suited to a person's interests, abilities, or nature. (<- That comes from Dictionary.com) How do I define niche? A niche is a special pocket of the market- be it a neighborhood, demographic category, type of property, etc -that you are THE EXPERT on. (Not AN expert ... THE expert.)
• How do you find your niche?
According to Realty Blogging (p.107), Dr. Ralph Wilson asks, "What are you good at? What do you enjoy? ... What are your strengths?" (<start sales pitch>Please note: The list of thought provoking questions goes on and on, so if you would like them ... buy Realty Blogging today!</end sales pitch>)
Examine yourself. No, really. Do it.
This book gives a detailed peek into many different types of niches. Here are a few to chew on...
1. Are you a member of a specific demographic whose real estate market potential is seriously undervalued? Tim O'Keefe is quoted in Realty Blogging with his findings regarding 2 specific demographic "niches" - The Hispanic community and the Gay and Lesbian Community. Both communities have some serious home buying power, yet neither one is really being marketed to.
And what about demographical generation, or age-based niches? We know that Baby Boomers are a part of the largest transfer of wealth in our nations history - inheriting billions of dollars from their parents. We also know that Generation X comprises more home buyers than Boomers and are now buying their second and third homes. Even Generation Y is starting to buy their first homes!
There is SO MUCH opportunity for niche building within the demographic scope.
2. What affiliations do you have? Are you a member of an organization where you can be the go-to person for all things real estate? PTO/PTA? Your church, synagogue or other place of worship? (<start bad joke>If you happen to be the only Realtor® in your Catholic church congregation, this would be the only place where you could get away with "mass" marketing ... har. har. har.</end bad joke>)
3. What is your property knowledge base? Do you have a knack for finding investment properties with great ROI potential? Have you always been successful in the second home market? Do you have a wealth of information about updating, preserving or restoring older homes, the troubles to look for, etc.? If so, a property-type niche would offer an abundance of opportunity for business.
4. Of course, there is always the geographical niche. Realtors® have fondly coined the term "farm" for this particular niche. Many people have become hugely successful by becoming THE expert of a specific community (area, neighborhood, school district, development, city/township, etc.). Broker Bryant and his Poinciana Properties niche is a perfect example.
Ultimately, mass marketing is going the way of dial-up internet connection... although it is still used; it is NOT the way of the future.
Ok. I know ... This is all super information, but what does it have to do with blogging?
Answer: Everything.
Once you define your niche, a blog gives you a "live" platform to deliver, to your niche, everything they want to know ... everything that is important to them ... and, most importantly ... a perfect opportunity to establish yourself as THE EXPERT.
For those of you who are just now jumping on the Realty Blogging bandwagon, please take a few moments to read the first 5 posts regarding this book:
• Review # 1 by Carole Cohen I Think Therefore I Blog: Realty Blogging Says Be a Groundbreaker...Blog Now!....Review #1
• Review # 2 by Mariana Wagner Your Blogging Voice... Where is it? (Realty Blogging Review #2)
• Review # 3 by Ann Cummings So Far to Go, So Much to Learn........ (Realty Blogging Review #3)
• Review # 4 by Ines Hegedus-Garcia Branding through Blogging (Realty Blogging Review #4)
• Review # 5 by Monika McGillicuddy Become an Expert by Building the Relationship..(Realty Blogging Review # 5)
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