Marketing Savvy: Which Comes First, Mind Share Or Market Share?

By
Services for Real Estate Pros with Napa Consultants DRE00893924

 

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?

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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?

 

 

“We help you get to the listing table more often and win listings more frequently!”

 

— Ron & Alexandra Seigel, Managing Partners 

 

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Re-Blogged 3 times:

Re-Blogged By Re-Blogged At
  1. Barbara Todaro 03/10/2020 03:16 AM
  2. Roy Kelley 03/19/2020 01:00 AM
  3. Joseph Doohan 03/11/2020 01:09 AM
Topic:
Real Estate Sales and Marketing
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THE LANGUAGE OF LUXURY
Bartender, Make it a Double
Old Farts Club

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Ambassador
3,246,687
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Now that is an interesting distinction that I have never thought of Alexandra...

Happy Wednesday Ron and Alexandra Seigel 

 

Mar 11, 2020 06:52 AM #37
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Debb Janes EcoBroker and Bernie Stea JD True, it is a sobering comment.  Sometimes, we take our audience for granted...and then there are those who over reach with their constant, "look at me".  Done right and well matters and of course each segment of our population differs.  A

Mar 11, 2020 06:57 AM #38
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Joe Pryor it really depends on how one does it.  Top of mind done elegantly is welcomed by us.  It is when it becomes a pain to see another email or communication, it becomes hellish for the receiver...LOL A

Mar 11, 2020 06:58 AM #39
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

June Piper-Brandon thank you for your astute comment, we appreciate it.  A

Mar 11, 2020 06:59 AM #40
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Myrl Jeffcoat what was funny is that this woman was not old at all.  That was a horrific moment for her.

Thank you for the feature in one of my favorite groups.  Happy Wednesday.  A

Mar 11, 2020 07:01 AM #41
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Mike,

That is so true, and thank you for the comment. A

Mar 11, 2020 07:03 AM #42
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

James Dray Good for you in understanding this concept.  One of our clients does the same thing, once a month, same station, same time...LOL A

Mar 11, 2020 07:04 AM #43
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Andrew Mooers | 207.532.6573 Being well thought of and well known is what promotion is about.  It can come in many forms.  Thank you for your astute comments,  we appreciate them. A

Mar 11, 2020 07:06 AM #44
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Paul S. Henderson, REALTOR®, CRS That is exactly how people get business, by staying in front of them consistently.  The key is doing it elegantly.  A

Mar 11, 2020 07:07 AM #45
Ambassador
949,267
Lynn B. Friedman
Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ... - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Ron and Alexandra Seigel 
Love reading your posts -
So much to learn!

Thought of your Branding lessons TWICE this week - took photos to show you - will send by email. All the best - Lynn

Mar 11, 2020 08:25 AM #46
Rainmaker
1,365,326
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Ron and Alexandra Seigel,

Kudos!  You are so right.  I have not heard the term "mind share" but I certainly know what it is.  This is probably my Achilles heel. Thank you for reminding me that I need to step it up a notch.  

Mar 11, 2020 08:27 AM #47
Rainer
236,318
John Henry, Florida Architect
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

Perfect.  You are exactly correct, of course.  The problem is that continuous marketing can drain resources.  Very tough for small firms.  Thanks!

Mar 11, 2020 10:57 AM #48
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Lynn B. Friedman thank you for your kind words.  Wishing you continued success.  A

Mar 11, 2020 01:24 PM #49
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Sheri Sperry - MCNE®  It all starts with a brand strategy,  and the rest falls in place.  A

Mar 11, 2020 01:26 PM #50
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

John Henry, Florida Architect  I do not think that is true if done right, you start with a great brand that catched one's attention.  A

Mar 11, 2020 01:27 PM #51
Rainmaker
188,057
Raymond Henson, SRES, GRI
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I thought you were dead...Well, I got better!  ;o)  That would be a tough one to hear, though and a good reason to stay in touch.

Mar 11, 2020 06:20 PM #52
Rainmaker
4,810,904
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Raymond Henson, SRES, GRI she leaned a lot from this experience.  Wishing you a great open house this week.  A

Mar 11, 2020 09:11 PM #53
Rainmaker
2,844,186
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I would say a little bit of both work for me kind of all aspects of my work.

Mar 11, 2020 10:01 PM #54
Rainmaker
104,676
Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 702-574-8102

Ron and Alexandra Seigel 

Great concept, mind share.  A top of the mind remembrance that humans forget without the experience of hearing from you lately.  Brand + contact.

Mar 12, 2020 01:44 AM #55
Rainer
573,772
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Mindshare is more important and long lasting than market share!!!

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!.

Mar 14, 2020 04:54 AM #56
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Rainmaker
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Ron and Alexandra Seigel

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