Niche Marketing: The Difference between Strategy & Tactics!

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Services for Real Estate Pros with Napa Consultants

If market leadership is your quest, as a luxury or other real estate marketing professional it is extremely important to understand the difference between strategy and tactics. Strategy is the overarching plan to out-think the top producing competitors in your marketplace or niche.  Tactics are the specific methods you use to execute your strategy or to generate more business in general.

The primary purpose of a strategy is to win top-of-mind status in a category of business or a niche within the category.  Studies show that consumers can only hold three companies, service professionals or products in their minds (on average) in any given category or sub-category. Therefore, the battle for mind share and the resulting market share really only applies to those who desire to be one of the top three contenders in any given category.  That is why marketing strategies are only for those who are interested in gaining or sustaining market leadership.

Tactics for generating more business without a strategy for securing market leadership in some category can only yield mediocre results.  That is because the top three contenders are targeting the lion’s share of the business and winning over the mind’s of the consumers, while all others are fighting over the crumbs.  In the unabashed pursuit of market leadership the stakes are always very high and so is the level of gamesmanship, the tactics required to conquer the category.

If you do not want to settle for the battle of the crumbs, as a luxury or other real estate marketing professional, you must identify an uncontested market niche that you can dominate.  Seek out opportunities that you can win, niches that you can serve better than any other competitor in your marketplace.

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Written by Ron & Alexandra Seigel-

 

CAN YOU STATE HOW YOU ARE DIFFERENT AND BETTER THAN YOUR COMPETITION IN LESS THAN 30 SECONDS?

 

ABOUT:  Luxury Real Estate is a high stakes game. Commissions are substantial! We help luxury real estate professionals get to the listing table more often and win listings more frequently.  If you want to be the market leader, the personal or company brand that your target market thinks of first and refers most often, you need an Elevator Statement to accelerate the process.  We can get you there!

Your Elevator Statement is a succinct and persuasive summary of your extraordinary promise of value, your unique selling proposition.  In a time-starved world the attention span of your target market is shrinking.  To instantly convey what sets you apart from the crowd you need to be able to answer EACH ONE of these 3 questions in less than 30 seconds.: 1) What Do You Do?; 2)  How Do You Do It?, and;  3) How Are You Different?.  Can you state how you are different and better than your competition in less than 30 seconds?

Watch the video above to see and hear how we do it. 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Roy Kelley 09/17/2018 01:00 AM
Topic:
Real Estate Sales and Marketing
Groups:
Luxury Home Marketing
Luxury Home Agents
THE LANGUAGE OF LUXURY
Bananatude
Old Farts Club

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Ambassador
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Ron and Alexandra- very interesting about consumers only holding about 3 companies, etc in their minds. 

Jun 12, 2018 11:30 AM #13
Ambassador
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Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
Get Results Team...Just Call (408) 252-8900! - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Thank you, I am working on best ways to "out-think the top producing competitors in your marketplace or niche.

Jun 12, 2018 01:00 PM #14
Rainmaker
1,385,950
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hello Ron and Alexandra Seigel, great and true/tried advice for all of us. I don't think any of us would like to settle for crumbs. I started marketing to our of state homeowners who have shown interest in owning a home in FL(mostly the Northeast). It started out with networking in the NY and NJ areas. The fact most of my buyer clients are moving to FL from NY/NJ is no accident. 

Jun 12, 2018 03:26 PM #15
Rainmaker
2,182,257
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

That's a good definition of the difference between tactics and strategy, Alexandra.  And, great advice accompanying it!

Jun 12, 2018 03:53 PM #16
Rainmaker
2,182,257
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Ron and Alexandra, on having this blog FEATURED in the Old Farts Club group!    

Jun 12, 2018 03:54 PM #17
Rainmaker
3,781,050
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kathy Streib when I think of stagers on AR, you and Sharon Tara are top of mind.  I can come up with one more if I stop to think, and I know I follow 4-5, but they are not visible like the two of you are. A

Jun 12, 2018 04:11 PM #18
Rainmaker
3,781,050
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Beth Atalay Brilliant strategy on your part.  Your are top of mind in the NorthEast, and I am so happy that you are a success at doing that.  And having lived in New York gives you great credibility also.  A

Jun 12, 2018 04:12 PM #19
Rainmaker
3,781,050
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Myrl Jeffcoat  Thank you for giving us a feature in your wonderful Old Farts Group.  We appreciate it. R & A

Jun 12, 2018 04:13 PM #20
Rainmaker
3,781,050
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Beth Atalay thank you for the feature in my other favorite group, Banana Tude.  Wishing you a great week ahead. A

Jun 12, 2018 04:14 PM #21
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Sheri Sperry - MCNE® we love that word, and if you think about it, we all lots of top of mind people and businesses on a list residing in our memories.  A

Jun 12, 2018 04:16 PM #22
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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I like William Feela perspective on your great blog post Alexandra...

Jun 12, 2018 09:39 PM #23
Rainmaker
2,758,482
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Alexandra I must admit I agree having been in the Military we have learned the difference between Strategy and Tactics.... love the analogy here, Endre

Jun 12, 2018 11:58 PM #24
Rainmaker
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James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning A.

I showed your and Ron's first two at our last meeting.  We will discuss what any of our agents did with that data at our next one.  Stay tuned in

Jun 13, 2018 01:54 AM #25
Rainmaker
2,004,824
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Great advice as always my friend!  I certainly don't have the desire to dominate, but luckily enough crumbs come my way to keep me well fed, haha.

Jun 13, 2018 07:45 AM #26
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

In classes I teach I always tell REALTORS® that the biggest problem they have is that they think like REALTORS®. One should be an entrepreneur first and connect the dots to create the strategy that works.

Jun 13, 2018 10:50 AM #27
Rainmaker
578,901
JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

I hear a lot of agents talk about developing a niche, but honestly a lot of them seem to not know exactly what that means much less how to do it.

Jun 13, 2018 02:14 PM #28
Rainmaker
3,781,050
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

JL Boney, III  I think that what makes it difficult for people to identify a niche is that they are afraid to lose money if they gave up a section of the market where they are doing onesy and twosies.    They are not identifying their strenghts.  A

Jun 13, 2018 02:44 PM #29
Rainmaker
3,781,050
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

James Dray I look forward to hearing your progress report, and I wish you continued success..

Jun 13, 2018 02:45 PM #30
Rainmaker
3,781,050
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Endre Barath, Jr. Strategy is what makes great military leaders as well as any leader regardless of their position in life.  

Jun 13, 2018 02:46 PM #31
Rainmaker
3,781,050
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Joe Pryor this is one of the reasons we rarely work with a newbie unless they have head experience in the real world.  When Coldwell Banker Commercial began, they only hired Xerox and other salespeople who were top producers.  That was the formula for their success.  Those with biz experience thrive in this field, because they understand strategy.  A

Jun 13, 2018 02:49 PM #32
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Luxury Real Estate Branding, Marketing & Strategy
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