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TARGET MARKETING - Should Agents Target?????

By Jim Gordon

Services for Real Estate Pros with NorthStar Identity Promotional Products

November 06, 2007 01:15 PM

I just returned from an afternoon seminar on the Fundamentals of Referral Relationships. One of the key components was the idea of target marketing. What is target marketing? The definition I use is that a target market is "big enough to make it worth your while (there has to be enough people/prospects for you to make money) yet small enough so that your reputation preceeds you. To give you a "fun" example, I'll pick on chiropractors. Have you ever gone to a networking event or leads group and the chiropractor stands up and says that a good referral for me or my target market is anyone with a spine. Well, how about the person who doesn't have any insurance or money to pay for the visit. Is that an good client/prospect? (Now if the chiropractor wants to donate his services once in awhile to help someone without charging them, I think that is fabulous. The problem is that they can't do that all the time otherwise they'll go broke.)

I am a huge proponent of target marketing. My promotional products business targets the real estate industry. All of my time, energy and marketing budget is focused on agents, lenders and other valuable associates. My tagline/catch phrase is YOUR GUIDING STAR TO SUCCESSFUL REAL ESTATE PROMOTIONS.

Are you target marketing or are you like the chiropractor and saying that a good referral for you is ANYONE LOOKING TO BUY OR SELL A HOUSE???????????????

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Sam Miller

RE/MAX Stars Realty - Howard, OH

Knox County Ohio Real Estate Specialist

Target marketing is a powerful way to grow your business quickly if you are promoting the right message and the right image.

Nov 06, 2007 01:17 PM

Jim Gordon

NorthStar Identity Promotional Products - Phoenix, AZ

NorthStarIdentity.com

Sam, you are right on. You can't "fake it" if you are going to be an expert in your target area. I had a client who thought it would be great to get involved with professional golfers and scratch golfers yet that client didn't play golf!!!! I asked him a simple question. How are you going to "talk the talk" and hang out at the golf courses if you don't play? Needless to say, he changed his target market.

Nov 06, 2007 01:24 PM

Gary Woltal

Keller Williams Realty - Flower Mound, TX

Assoc. Broker Realtor SFR Dallas Ft. Worth

Target marketing is like the rifle approach vs. scattershooting with a shotgun. It is more cost effective and smarter. You're also planning up front what you are aiming at and defining that.

Nov 06, 2007 01:26 PM

Steve Hermann

Coldwell Banker Heritage REALTORS - Ponca City, OK

When I first started real estate, just 2.5 years ago. I thought that target marketing was a good idea. But in a small market (26,000 locally & 60,000 total in the county), I quickly discovered that those target groups are just not large enough to make a living. I still have a "bread and butter" but in order to make a living here I must market everbody. Can you give me an argument that will change my mind?????

Nov 06, 2007 01:30 PM

Gary - I'm not a big fan of guns (I much prefer the NAR than the NRA) but you hit the target with that analogy.

Steve - I know that the Ponca City area is much smaller than Phoenix but I still think that target marketing saves time, energy and money. How do people refer business to you? Do they say, "I know a great Realtor..."? Do you do any networking? How do you determine what groups to get involved with? These are just some of the questions that I would ask you. If your business is doing well, than by all mean continue. If you are looking to "set yourself apart" from all the other agents in the area, than target and build that reputation! I would be happy to set up a time and talk to you if you would like to continue this discussion.

Nov 06, 2007 01:45 PM

Gary Bland

Century 21 All Islands - Lahaina, HI

I am spending the dollars right now on Internet to get ready for the next boom with SEO optimization. Target web search and I will be there to answer questions.

Nov 06, 2007 01:47 PM

xxxxxxxxxxxxxxx xxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxx - Hillsborough, NJ

Agents should have a target market. As Steve points out, it can be a challenge in a smaller market. Even though the market is small you can target certain types of customers. Read the Demographics in your area and determine how to sell to the major demographic. Think about how to reach this demographic and tailor your marketing to them.

Nov 06, 2007 01:50 PM

Caryn - Your suggestion for Steve is great. Demographics is another way of target marketing. For example, if the average family in the Ponca City area is younger with a small child, Steve could target families that may be expecting a second child and need a bigger house. Thanks for your input.

Nov 06, 2007 02:10 PM

Anonymous

seo marketing

Social Bookmarking, Networking sites really do work for top rankings in Google.

I created a blog using wordpress to target "seo target marketing" and ranked #1 in less than 24hrs.

the first post to the blog was at 2008-01-15 4:47:47 pm and in less than 12hours i have held positions between 1-3 at differnet data centres of google.co.uk for the term seo target marketing and they have held there for the last 6hrs.

the term is taken from SEO Book keyword tool and is listed as the second highest term wheni searched for seo marketing.

so its not just low hung fruit, it can work just as well for high ranking terms and even quicker.

In the ever competitive world of search engine marketing it has never been more essential to ensure your site makes use of the best SEO marketing service possible.

Increase your ROI today with advanced SEO target marketing.
http://www.seogoogle.biz/seo-marketing/index.htm

Jan 18, 2008 10:02 AM

TARGET MARKETING - Should Agents Target?????

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