Mind share precedes market share. This is one of the most important marketing laws. What is mind share? It is a hold on the intended market's attention, that is attained with a smart brand strategy followed by a remarkable marketing campaign. In other words, those you market to are aware of your existence,
It also means continuous smart, creative marketing to stay top of mind in a marketplace. One cannot slack off, and take a break from marketing, because your target market will quickly forget you. We often hear agents feeling betrayed by long time clients. They did not stay in touch, and as result they were forgotten. Here is an example of what can happen, when you neglect to keep your mind share alive and well.
One client told us this story of meeting up with her long time friend/client at the grocery store. (She had sold 6 houses for her and her relatives), and when she asked her why she listed with another agent, the answer was, "I thought you were dead!"
If you are going to create a campaign to garner mind share, be sure that you know what you are talking about, and that the campaign does show your savvy off. Otherwise, it will be clear to your target market that you spent a lot of time and money saying nothing at all or showing off your ignorance...no one believed that you could do it!.
Savvy mind share will get you market share, which means in real estate terms sellers and buyers. The market will be referring you, because you have planted yourself in their minds. However, you will still have to maintain that mind share to maintain your market share.
If you need more convincing, think about this. Tide is the number 1 laundry detergent in America. Every time we pick any print publication,Tide has an ad in that publication. Many would say, "What a waste of money, they already are #1!" And we say, they are maintaining their mind share!
Are you maintaining your mind share in your marketplace?