If you haven't already picked a target market, now is the time to choose one that you feel has good potential for you, and focus on it. While it may feel like you are limiting yourself at times, you are actually giving yourself the opportunity to fully develop your expertise and capture market share as a result.
I know, that sounds like a good idea, but what does this really mean? Let me give you an example of a target market strategy to which these concepts apply.
Target Market Strategy Example:
Families with small children looking to move into and/or upsize in a specific geographic area.
Good Networking Opportunities:
Volunteer in that geographic area at the school, school PTA, YMCA, or Boys & Girls Club. Be a coach or team parent for one of your children's sports teams, or take pictures at one of your children's extracurricular events and share them with other parents. Volunteer for activities at your place of worship - especially if there is a children's study group. Tip: Always use your business email when communicating with anyone in these groups.
In addition to the standard marketing information that you use, differentiate yourself with your target market.
Pre-Listing Packet/Listing Presentation:
Include a Kid Contract (where you reward the child with a "prize" if they keep their room clean while the home is listed).
Buyers Presentation/Touring:
Include information on how to help children through the move process, have a "prize basket" in your car for the children after every touring trip (you can get inexpensive items at http://rs6.net/tn.jsp?t=gnmdsacab.0.0.gdkvdybab.0&ts=S0253&p=http%3A%2F%2Fwww.orientaltrading.com%2F ), have a basket of juice boxes and snack bags, have a first aid kid in your car with children's band aids, have lots of information about the schools & parks readily available.
By the way, Oriental Trading is a great place to get your logo and business information imprinted on gifts in small quantities - that section can be easy to miss on their site, so here's a link directly to it: http://rs6.net/tn.jsp?t=gnmdsacab.0.0.gdkvdybab.0&ts=S0253&p=http%3A%2F%2Ftinyurl.com%2F2xorev..
Your Resource List:
Include recommended pediatricians, children's dentists, contact info for the local children's sports clubs (baseball, football, soccer, lacrosse, gymnastics), dance lessons, music lessons, best places to have children's birthday parties, daycare and summer camps.
Your Direct Mail and Gifts:
Whatever direct mail pieces and giveaways you use, make sure they are "child friendly". Kid calendars, babysitter's information sheets, children first aid information, applicable car-seat laws, Halloween safety tips, postcard pictures that have children (yours or others) and sentimental or funny comments, children ID card information, monthly kid activity/local events cards, quarterly neighborhood reports with kid related information.
Your Advertising:
Advertise in school directories, sponsor school teams, wear clothing with your brokerage logo to all networking events/activities, wear your real estate name tag to these events, advertise in family/community newspapers, do weekday open houses close to the schools, have a kids resource section on your website.
Your Open Houses:
Select open houses that will be attractive to families, bring your kid snack/prize basket, have some coloring sheets and crayons to keep the kids busy while you speak to the parents, have information on the local schools out and available.
Your Client Appreciation Events:
Organize a family picnic/BBQ with kid activities, host a Santa picture event, host a family movie night at a local theater, or work with a local vendor and send out 2 for 1 coupons to a family friendly activity or restaurant.
Now, think about your own target market and what would be applicable. What do you do that is special for your Target Market?
by Michelle Blue
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