Data-Mining for Dollars!
Thank you to our friend and industry expert Claudia Wicks for sharing some data mining skills with REALTORS far and wide!
How many mailing pieces: postcards, brochures, flyers, newsletters, etc. do you have to send out to make sure you reach your target market?
How about marketing smarter?
I know you can (in most states) obtain a list of names and mailing addresses from the title companies- for free. Unfortunately, they don't drill down to provide the kind of demographic info that helps you really hone in on your target markets.
There is a site called www.DataLeader.com which provides you the opportunity to target the people you'd like by income, time in their home, etc. The value of that is having the opportunity to spend money wisely. You can send postcards or mailing pieces ONLY to those people who may be the best candidates to purchase.
For example, if I have a $500,000 condo for sale in a downtown location, who would be the most likely candidate to purchase that condo? According to NAR- most consumers move an average of 13 miles. My target might very well be: someone who lives within 13 mile, who has owned a home in that area at least 5-7 years, has sufficient income and is 55+, perhaps ready to downsize.
That way, I do not have to blanket the neighborhood with postcards- saving postage and print costs. I can merely send my info to the most likely candidate. I thought that was a very smart way to do business. (.08 cents per name = 100 names = $8.00)
Let us know how it is working for you. Also, let us know what resources you use for prospect lists.
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