Did you know that businesses that leverage consumer data outperform their competitors by over 85% in sales growth?
Yep, that’s a big mouthful of industry jargon to choke down so to make it easier, I’m going to go through how understanding your ideal clients in your real estate business makes it easier to market to them and get results.
Most realtors start with no real knowledge or training on how to build, manage, and grow a real estate business. It’s a shame. With more support and guidance, the industry’s failure rate (currently over 87%) might drop and give more agents a chance to make it through their first few years in business without having to throw in the towel.
The agents who succeed have one thing in common: They know who they serve and have a plan to make it happen.
Many factors influence how a home buyer or seller will perceive a marketing message. You need to understand how your consumers operate long before you put out a message to make sure you’re showing up in the right place, a place where they’ll notice and pay attention to what your real estate business has to offer. Imagine marketing to seniors on Snapchat. It just doesn’t work.
For example, the “Traditional” generation relies on cable television and print newspapers whereas a millennial is more inclined to use search engines and social media to connect with local businesses and seek information. Even slight demographic variance between different millennials can impact which social media platforms are best suited for your real estate business to have the biggest impact.
Using and collecting consumer data, in layman’s terms, means keeping track of your ideal client and how they interact with the world around them. Everything from their daily routine to their political affiliations can impact the success of your marketing.
When you start to build a marketing plan and put yourself out there, it’s important to keep track of both what works and what doesn’t so you know what messaging resonates best with your audience and can continue to deliver them exactly what they need exactly when they need it to build a relationship with your brand.
Before you get going, make sure you have a good understanding of your market, the type of audience you plan to serve, and how to get your marketing message in front of them at the right time. Crafting the right message only works if you put somewhere that the right person is going to see it and take notice.
Be one of the businesses that see 85% growth in sales by understanding your consumer.