December Blogging Challenge, Day 12, Target Marketing
In this business, nothing is forever. If you don't like what's happening in the market today, just wait awhile and it will change, but not necessarily for the better. We all have to adapt to those changes quickly or risk getting left behind.
My success in the past has largely been through the use of Target Marketing to specific groups. It's important to separate yourself from the pack and focus on unique groups. Become the expert for that particular group and create a marketing plan that will be completely different from all of your competition. This will make you less vulnerable to market swings as you can adjust to change with your group.
Do extensive research on your target. For example, if you were considering medical professionals, you would need to find out about their average incomes, compatible neighborhoods convenient to major medical facilities, trade publications in which you might advertise and professional organizations where you might obtain mailing lists for special offers or promotions to establish you as the local expert for that group.
Be sure to market yourself, not your company. Have your own unique 800 number, email address and website with your own target domain name. For example, something like RealtorRx.com or RealtorPrescription.com or the HomeDoctor.com might create a brand for you that medical professionals could identify with. Be the best at what you do to establish your reputation.
Lastly, keep current with the changing conditions in your target group. Major layoffs or the closing of a facility will create opportunities for listings and short sales as these professionals relocate. Expansions will mean new buyers will be moving in and several visits to the HR department might find a home for some of your unique marketing materials to assist them.
I spent the day creating some new marketing pieces for my target groups and doing research on some new targets for my first quarter in 2012. Active Rain has created a challenge for all of us to focus our skills towards new opportunities in the upcoming year.
NOTE: Doug Bullwinkel is a licensed California Mortgage Loan Originator, NMLS #281609 for Vitek Mortgage with over 30 years in the Real Estate and Mortgage Industry. He specializes in Niche loan programs including the CalPERM-CalPERS Member Program, VA and CalVet for Veterans, FHA, USDA, FNMA Homepath, CalHFA and down payment assistance programs. His website is LenderSolutions.com. Doug can be reached at (800) 636-8910 for more information.
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